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What should a CA IPCC student know before starting studying?
That the past is your demon and the future is laughing at you. The moment I read the question these were the first words that striked my mind. There are a lot of study tips that can be shared however if the approach isn correct nothing works. Students who join CA course are generally students who have been a bright student in their school days. You have done well since a long time and therefore you stood up for this course known to be one of the most difficult course in India today. CPT is tricky answer as you like it because nobody asks for the reasons. If right amount of efforts are applied it is quite simple to clear. But the path ahead isn the same. Kill the Demon Past Imagine you are at a war with someone too strong. However you fight & sustain against the same very easily. How would you feel? Proud because you have stood firmly against something you considered too big to achieve however it was too easy to do it. This little trick that CPT does that your good scores in school does that your past does is your demon. It often makes student over-confident because everything has gone smoothly till date unaware of the future that awaits. Your past is your demon whether it was bright or dull. You need to drop that baggage today itself and move ahead independently. If you carry that the past deeds even the foggy future will seem like clear skies and you won even realize and fall in a vicious trap. Kill the Demon Past! italic Shut the mouth of Laughing Future With IPCC you enter into apletely new world of exams something that you have not experienced in the past. It is followed by Articleship CA-Final exams the struggling period as fresher and extended struggling period to get promoted. As they say these are Professional exams quite different from the School exams. If you do not put in enough efforts it would be quite difficult to clear the exams. You need to give in your 1% and sometimes even improve your 1% mark to match the requirements of the examinations. The future is laughing at you because you have arrived at his door and he knows out of every 1 students that reach here only 1312 make it to the next level. If you want the future to shut his mouth and stop laughing then gear up to give every bit of your efforts from this day onwards until you have succeed your goals. Else if you want to enjoy then enjoy; the future will keep laughing at you. italic And stay away from story tellers On your way ahead you will meet a lot of story tellers who will try to seed myths in your mind like it all about luck it God will or the things are unjust. Stay away from the myths and follow your path of hard work. Don let people seed the myths that will grow into a vicious plant someday. Fortune favours the brave God helps those who help themselves World is fair to one who deserves it etc. All these old adages mean the same - you are the source to everything that happens to you. You do your job sincerely & the luck the God & the justice will follow you automatically. Nothinges easy however everything doese with efforts. italic horizontal-rule Practical Tips - Since I am also ought to give some practical tips besides showing the approach - Paper solving is important do not neglect or skip it even if you are out of time to study the full portion. Fearing the exams & peoplements on failing will not help; being courageous might help. Give both groups together atleast when it is your first attempt. Coaching does help in understanding the topics quickly. It saves time. However you cannot solely rely on them. It has to be coupled with self study. Strike the right balance between the two. If you are attending coaching classes attend everyday sincerely and attentively. Make proper notes when the faculty mentions examples or tricks. Before you sleep revise the topics covered that day. Before you begin your exam preparations in last few months carefully select which books you are going to refer. Once you have decided there is no turning back from the same. You cannot change your source books. It ruins everything. Referring to both Study Material & Practice Manual is important. You cannot neglect them. Whichever notes you refer ultimately follow it up with the modules. Don overdo anything. 1 to 12 hours per day is sufficient and should be the maximum limit. Beyond that neither your brain will work efficiently nor your body will support in the longer run. Ensure that your handwriting is good and presentation legible. Everybody prefers good looks so do the examiners. ICAI thinks 8 months is minimum sufficient time to study for CA-IPCC. So if you invest 536 months in Classes for first reading and 3 months for exam preparation you can easily study for both groups. Don think about the result - neither about rank nor about failing. Simply study giving the best efforts you can.
Why are sawed-off shotguns illegal but assault rifles and semi-automatics are not (in USA)?
Why are sawed-off shotguns illegal but assault rifles and semi-automatics are not (in USA)? Well this will be a long answer so brace yourself. Ok so first let establish what the laws are regarding sawed-off shotguns Being sawed-off is not what changes the category of the shotgun it the length. The shotgun must have a barrel length of 18 inches or more and an overall length of 26 inches or more. If you saw off a shotgun but the final product abides by those restrictions youre fine. If you have a manufactured (not saw-off) shotgun that does not meet those requirements then its classification changes. Short-barreled shotguns as defined under the National Firearms Act of 1934 are not illegal they are just more highly regulated. You can own them but you must pay a $2 tax stamp with the ATF. Some designs may qualify as Any Other Weapon and only require a $5 tax stamp. However the paperwork and background check do take a significant amount of time. If you decide to make your own short-barreled shotgun by sawing down a larger one you can do so legally but you need to get your paperwork processed by the ATF before italic proceeding to cut down your gun. OK now let talk about why they are regulated by the NFA The NFA was passed in response to violence during the Prohibition Era. As such the weapons regulated are those that were perceived at the time to be gangster weapons. The NFA was originally going to include handguns as well. Regulating short-barreled shotguns and rifles was a means to close the loophole. The NFA was challenged in court. It was originally ruled unconstitutional by the district court. Then it was appealed at the Supreme Court. Unfortunately no one showed up to argue Miller case which made the entire event a one-sided sham. The court ruled that this was a revenue-generating measure rather than gun control (because of the tax) it qualified for interstatemerce because Miller crossed state lines with the gun and the gun was not used in any militia organization (this being as short-barreled shotguns were used by American troops in WWI). That sham decision is what allows the NFA to be upheld today. Some notes on actual assault rifles and their legality An actual assault rifle is a select-fire weapon which means it qualifies as a machine gun under the NFA. In addition to the same requirements that SBS have to go through for the NFA the machine gun registry was closed in 1986 to create a de facto ban so only pre-ban weapons are authorized. Moving on Ill cover so-called assault weapons When people say assault rifles in reference to anything other than the actual guns issued to soldiers they usually mean assault weapons instead. An assault weapon is a fabricated propaganda term that capitalizes on public ignorance of the difference between semi-automatic guns that superficially look like military weapons and actual machine guns. Assault weapons are banned in a few states. Such legislation bans guns based on cosmetic features which is absolutely stupid for any reason other than the goal of achieving a larger gun ban by small increments. I could write an extremely long post on this subject alone but this answer is dragging on enough as is so Ill just leave you with some s for additional reading. The Truth About Assault Weapons Assault Weapons Now let address why semi-automatic firearms are not illegal No one has passed legislation to ban them. They are somon that any measure to ban all semi-autos flies in the face of the we don want to take your guns propaganda. Even for extreme gun control states this is just too far. Even more limited legislation in the form of handgun bans has been overturned as being unconstitutional making it extremely unlikely that aplete ban on all semi-autos would hold up in court. Semi-automatics are hands-down the best option for defense and also have valid uses for recreation and hunting. And just for fun let dispel a few misconceptions Short-Barreled Shotguns are uncontrollable as someone who has fired both purpose-built SBS and actual sawed-off shotguns I can tell you that is . The recoil is quite manageable and at short ranges (which is where it would generally be used) so is the spread of the shot. I even posted some videos below to illustrate this. SBS have no valid civilian use of course they do. If a regular shotgun and a handgun both have uses for protection and sporting why wouldn a shotgun that has the maneuverability and concealability of a handgun? Im not saying it is the absolute best option but that doesn mean it isn a valid one. SBS are super deadly and cut people in half they do not cut people in half any more than a regular shotgun does. They do not destroy entire rooms. They fire the same shells as a normal shotgun. Cutting down the length makes it lighter more maneuverable and more concealable which can be desireable qualities depending on what you are doing but it doesn magically make the gun more lethal. You don need to aim with a SBS you always need to aim. You can miss even with a shotgun. They do not cover the entire wall or any such nonsense. This is real life not video games. The Home Defense Shotgun - Guns & Ammo s s
How wedding photographers manage if they lost all the photographs of the function irrecoverably?
IF rpt IF that was ever to happen then unless they had a cast iron contract which covered that sort of disaster then they would probably be sued. They could try and at least do a reshoot with the bride and groom at their cost but they would never be able to recreate the whole event. TBH if that did ever happen then it would not be a pro who it happened to but some uncle Bob doing it cheap because they have a good camera. a PRO would be checking their equipment on a regular basis. They would not be putting all the s due to equipment malfunction is minimal. If they did then they should sell the cameras and take up another trade.
The constant in money mgmt for traders seems to be compounded returns however what's best, adjusting investment amounts after each trade or in stages?
I am a chicken with adamantium balls when ites to risk. I design position sizing algorithms accordingly. Many position sizing algorithms work in staircase lockstep. Equity goes up to another level which warrants more risk. The problem with those methods is the sudden jump in position size something Daniel Larsen user 75476583 alluded to. There is a period of time when equity curve is vulnerable. Volatility increases as well. As Daniel eloquently wrote It takes time to emotionally adjust to bigger risk and volatility. Furthermore if strategy hits a soft patch it takes time to adjust to lower risk. As a result drawdowns can be severe or at least unpleasant. Our position sizing works in opposite way. it concentrates on drawdowns. Instead of looking at the base we look at the peak level of equity curve and adjust risk according to the drawdown incurred from there. Benefits Responsiveness there is no lag in the risk per trade adjustment. As soon as a drawdown happens risk off. As performance recovers risk on. Smooth transmission trading the equity curve is a popular theme among advanced traders. Conventional method rely on equity breakout or moving average crossovers. This is usually a binary event minimum to maximum with no in between. Can You imagine driving a car with only two gears 1st and 5th? Good luck getting a second date. Our stuff sizes risk according to the current equity curve in relation to its trough and peak equity curve Drawbacks The signal module is the engine. Position sizing is transmission. Then the reason why cars love to be eco-friendly and wrap themselves around trees is the third and most volatileponent the driver. Our position sizing algorithm works well with systems with moderately low win rate and tail ratio. If Your system has 2 win rate and 4 tail ratio You should stay in 5th gear all the time. High risk will ensure fasterpounding of the equity curve. Our position sizing is ill suited for such robust system. Now very few systems have such properties. The LT average win rate of trend following strategies is somewhere between 3 and 4%. Tail ratio is about . This means they go through prolonged drawdowns. In this case our position sizing algorithm substantially outperforms both small and high risk. Simplified convex is mathematically not the optimal solution. Other algorithms do a better job. Now can you trade them 1% of the time is the $1M question. We are confident your brain can trade this algo through euphoria and depression. That what makes it better Formula The idea is to incorporate equity curve trading into a fixed fractional position sizing FFPS weight% = distance to stop loss% Risk Per Trade % with RPT constant Our position sizing turns Risk Per Trade into a variable function of the equity curve Oscillator = (Eqty - trough Eqty) (peak Eqty - trough Eqty) SC Risk per Trade = min RPT + Oscillator * (max RPT - min RPT) SC = distance to stop loss% SC RPT Risk Per Trade oscillates between a minimum and a maximum based on the current equity curve Variables Peak Equity = always the highest equity point unless some bozocrat in management thinks it is a good idea to use 1 day moving average or something just as stupid Min Risk You can win the lottery if You don buy a ticket. Your system must continue trading in order toe out of a hole If You want an Excel file that shows the formula sign up on my website send me an e-mail and i will send You an Excel file for free. I will soon post the file on my website. Subscribers will be able to download it without the dreadful chore of contacting me Current research The reason why this position sizing algorithm is named simplified convex is because ites from a much more sophisticated position sizing algorithm we use in our autotrader. It amodates multiple positions for one security with risk depreciation capital allocation dampening penalty ledger etc hence the convex name. Most market participants do not need that level ofplication. So we stripped off the unnecessary bit and decided to give it away to help themunity hence simplified convex Current research takes the game to a whole new level. Risk Per Trade is a constant in all position sizing algorithms we have encountered. We are exploring ways to make it dynamic. Reality is the thing that takes a massive dump on the front door of your dreams. Clean up the mess and try again. We will find it i am patiently confident. If there is anyone interested in headaches frustration dead-end contact us and let have fun collaborating. (Maybe i should also polish my marketing skills)
Where did bureaucracy originate?
I don think the verb created is the best way to describe the origins of Bureaucracy. No one person or group of persons created Bureaucracy; but that said we seem to have it everywhere. SO where did ite from? Perhaps a better expression here might be Why does Bureaucracy always seem to grow in most larger Organizations? (Note after the word grow I left out the pejorative simile like a malignant tumor in order to pretend I am open minded regarding Bureaucracies.) Bureaucracies grow when mid-level staffers who administer to rules and regulations but do not make them begin to believe the survival of the organization is more important than the service it was supposed to provide. Stability before progress consistency before change precision before knowledge and equality before exceptionalism be the dogma of the bureaucrat. Bureaucrats live to preserve the bureaucracy and as such themselves. If you think about it Self Preservation is a very powerful motivator or in this case a fertilizer for growth. What is very cool is that there are operating museums designed to preserve bureaucracy and teach you about it first hand. Simply walk on into your local DMV or Building Permit desk at your local town hall and you can personally experience bureaucracy in action. No admission fee required but there will probably be a substantial exit fee demanded. Please report back to all of us on Quora with your experiences. Make sure to download form RPT-Q-8763-g (rev. 1) to submit your report on.