By Edward West
The British royal relations has persevered remarkably in a awesome, tumultuous century from 1910-2010 while some of the crown heads of Europe confronted revolution and exile. via a constitutional challenge, abdication, divorces, tragic deaths and unseemly scandals, the British royal kinfolk has proven an intuition for survival, tapping into the heartbeat of public sentiment, making important changes, modernizing and reinventing itself to stay the revered, fashionable and cherished image of British background and heritage.
This e-book chronicles a century of British royalty and lines the tale a kingdom witnessed as a compelling relatives saga of tragedy, fallibility and triumph like no different: the abdication of Edward VIII to be with the girl he enjoyed, Mrs. Wallis Simpson; the now-commonplace royal infidelities and divorces and the general public backlash and eventual restoration of public sympathy for Queen Elizabeth II following the loss of life of Princess Diana. via all of it, the dutiful commitment to crown and kingdom, unblinking stoicism, and absolute get to the bottom of of Queen Elizabeth II has guided the state for 5 a long time, culminating within the Diamond Jubilee celebrations the place Britain wear reveal the pomp and beauty that are the envy of the area. The e-book additionally uniquely captures the streetview of the way the folk spoke back to information of and from the royals from spontaneous celebrations in pubs to a meeting round radios and televisions in occasions of difficulty. This assortment takes you into the instant because it occurred and is the main in detail revealing photographic learn of the British monarchy as a relations, and as a longer family members in its dating with its matters.
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Why should you have to pay for all the risk involved with a hedge fund? I can give you a couple reasons besides return. Although a hedge fund manager probably has some of her personal money invested in the fund, she needs cash to pay the fund’s operating expenses. She also wants an incentive for 37 38 Part I: What is a Hedge Fund, Anyway? the risk she’s taking in starting and operating the fund in order to make herself and all her client’s money. In the following sections, I discuss all the fees that drain a bit of money from your bottom line but that give life to the hedge-fund business.
The answer? Yes. The name “hedge fund” stuck, but the emerging funds were more speculative than hedged. Hedging is the process of reducing risk. Speculating is the process of seeking a high return by taking on a greater-than-average amount of risk. Although hedging and speculating are opposing strategies, many hedge funds today use both. The change in strategy took place partly because the stock market was really strong, so short-selling proved to be a losing game (see Chapter 11). Also, because the stock market was so strong, money managers could make a lot of money by borrowing and buying stock.
Whether registered or not, hedge funds can’t commit fraud, engage in insider trading, or otherwise violate the laws of the land. In order to stay free of the yoke of strict regulation, hedge funds agree to accept money only from accredited or qualified investors. Accredited investors are individuals with a net worth of at least $1 million or an annual income of $200,000 ($300,000 for a married couple; see Chapter 2 for more information). Qualified investors are individuals, trust accounts, or institutional funds with at least $5 million in investable assets.
A Century of Royalty by Edward West