The Works Of Haydn And Mozart - 940 Words

Haydn and Mozart are often recognised as the two composers who were responsible for bringing Viennese Classicism to its greatest height. In the public eye, these two great composers could not be more different, whether it is in terms of their characters or values. This essay sets out to explore the similarities and differences in the early lives of these two gifted individuals, Wolfgang Amadeus Mozart and (Franz) Joseph Haydn, through their backgrounds and music education. Mozart, who was born in 1756 in Salzburg, was Haydn’s junior by twenty-four years. By the time he was born, his father, Leopold Mozart, was already a widely known composer and violinist. All in all, Mozart grew up in a family of fairly good standing and this enabled him to blend in with the aristocrats and the nobility comfortably and effortlessly. On the other hand, Haydn was born in a small town call Rohrau. His father, Mathias Haydn, is a wheelwright, while his mother, Maria Koller, was a cook for the Lords of the village before marriage. Although the young Haydn’s standard of living may not be comparable to that of Mozart’s, Haydn did not live in extreme poverty. Haydn’s father and grandfather were both the magistrate in the village and the preserved bills showed that Mathias were given plenty of work and was not paid badly. However, with eleven other siblings in the family, despite the fact that only six of them, including Haydn, survived infancy, Haydn, by no means, had the attention or resourcesShow MoreRelatedThe History And Transitions Of Music933 Words   |  4 Pagestransitions of music has had many talented persons that have influenced music but none are so well known as Franz Joseph Haydn, Wolfgang Amadeus Mozart and Ludwig van Beethoven. All three of these great composers performed during th e Classic period and it would act as the base of classic music for the next one hundred and fifty, to two hundred years. The names of Haydn, Mozart and Beethoven are so well known that people who have little to no knowledge of music will recognize their names. The urbanRead MoreThe Golden Age Of Chamber Music1300 Words   |  6 PagesFranz Joseph Haydn Down the history of music, the classical era was known as the golden age of chamber music. This chamber style of music was largely established by Haydn, Mozart, Beethoven and Schubert. Joseph Haydn was one of the most prolific composers amongst the first Viennese schools (Haydn, Mozart, Beethoven), in the classical era. Joseph Haydn was born in Rohrau, a little Austrian village not far from Hainburg in the yearRead MoreMozart And Beethoven s Musical Origins1651 Words   |  7 PagesHaydn began his musical career as a choirboy in Vienna up until the age of 17. Mozart and Beethoven’s musical origins are similar, both coming from families with musical backgrounds. Mozart’s father taught him and his sister before taking them to tour throughout Europe. Beethoven also studied with his father before receiving his study abroad opportunity in Vienna in 1792. After serving as a choirboy, Haydn found himself in need of a means to make a living. He was barely able to support himselfRead MoreEssay on The Great Classics of the Classical Period505 Words   |  3 PagesBaroque period, the Classical period is one of the greatest musical eras in history. The style flowed directly off of its Baroque predecessors, smooth, but differing in the tempo. Many of the greatest composers emanated from the Classical era, Haydn, Mozart, and Beethoven among them. This time period transformed the course of not just musical history, but that of the entire modern western world. Johann Sebastian Bach was the Alpha and the Omega of the Baroque period. Classical music, as we referRead MoreMozart and Haydn Essay1209 Words   |  5 PagesTwo of historys greatest figures in the development of Classical style music during the eighteenth century were Wolfgang Amadeus Mozart and Joseph Haydn. Both men worked together and were very close friends while living in Vienna. Between the two, Joseph Hayden and Amadeus Mozart devoted much of their music for composing symphonies, minuets, librettos, sonatas, concertos, masses, oratorios and operas. While both men achieved popularity and status during their time, they also discovered that successRead MoreThe Austrian Composer : Franz Of The Formal And Structural Principles Of Classical Style1259 Words   |  6 PagesThe Austrian composer Franz Joseph Haydn (1732-1809) was arguably the founder and developer of the formal and structural principles of classical style. His work included hundreds of symphonies, string quarte ts, and instrumental sonatas. Haydn was an innovator and many composers after him, modeled his style. FOUNDATIONS On March 31, 1732, Franz Joseph Haydn was born in the charming village of Rohrau, Lower Austria which is on the Hungarian border. Joseph, called Sepperl by his German parents, wasRead MoreFranz Joseph Haydn : The Founder And Developer Of The Formal And Structural Principles Of Classical Style1268 Words   |  6 PagesThe 18th Century composer, Franz Joseph Haydn, was arguably the founder and developer of the formal and structural principles of classical style. His work included hundreds of symphonies, string quartets, and instrumental sonatas. Haydn’s innovation and style created a model for many composers after him. FOUNDATIONS On March 31, 1732, Franz Joseph Haydn was born in the charming village of Rohrau, Lower Austria which is on the Hungarian border. Joseph, called Sepperl by his German parents, was bornRead MoreThe Twilight Of His Career Essay1486 Words   |  6 Pagesthe twilight of his career, Mozart was approached by a stranger with the means to commission him for the composition of a Requiem, one of the important pieces of a Catholic Mass. Despite his current work and declining health, he accepted and began to compose the work until his untimely death on December 5th, 1791. Despite his efforts, he was unable to complete his work and it eventually was finished by a recommended composer. While many would say that like the piece of work, this solely represents theRead MoreEssay on The keyboard sonatas of Haydn and Mozart1066 Words   |  5 Pages I. Haydn nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;nbsp;Haydn has a special preference for writing music in a bundle of six. Each of the six pieces has its individuality while sharing many common features at the same time. Haydn’s solo keyboard sonatas show striking diversity in type and style. They often could be categorized by their style periods and each of them reflects a corresponding social background. Sonatas composed from 1773 to 1784 were intended as â€Å"public† works from theRead MoreEssay on Haydn and Mozart1997 Words   |  8 Pages Between the years 1782 and 1785, Wolfgang Amadeus Mozart wrote six string quartets which were dedicated to his friend and fellow composer, Joseph Haydn. These quartets, known as the Haydn Quartets, were among Mozarts first six masterpieces in the medium (Keller, 64). In composing these works, Mozart was inspired by Haydns recently published Opus 33, which is also a set of six string quartets. When Haydn wrote his Opus 33 in 1781, it was the first time he had written for the string quartet

Review of Psychology and Christianity 5 Views Essay

Assessment 1 Assessment 1 What does psychology have to do with the Christian faith? In Psychology and Christianity: Five Views, by Myers, Jones, Roberts, Watson, Coe, Hall, and Powlison (2010) is an introductory textbook for Christian psychology that provides sound arguments for an array of positions on psychology and faith. Each author contributed an essay and in return the other essayist respond by either agreeing or disagreeing by pointing out faults and explaining why. The first position by David G. Myers titled, â€Å"A-Levels-of-Explanation View,† who is a psychological scientist who supports that Christian theology and psychology are two very distinct disciplines, but they do share similar goals. Myers defines psychology as,†¦show more content†¦Furthermore, Jones uses homosexuality, like Myers, as a test case, but is very clear on what scripture says about this behavior and does not let data change his mind on this topic since the Authority of Scripture cannot be mistaken. The Christian Psychology view by Roberts and Watson, have a more historical and philosophical approach. They do not deny modern psychology, but argue that psychology has been around for the past 2500 years. For example, he brings up issues relevant today with the Sermon on the Mount instead of the science offered by todays establish psychologist. Roberts and Watson also claim that Christian psychologist should approach psychology with the bases of the Christian tradition. â€Å"Christians must approach the subject matter of humanity embracing what God has told us about what it mean to be fully human first; that then is our framework for engaging psychology as a social science† (p. 183). Roberts and Watson purpose a two-stage method: â€Å"to first appropriate the resources of the rich, Christian psychological tradition, and then to employ it in the advance of empirical science and applied science† (p.184). This is how a Christian understanding of the person can come to hypotheses that can be tested, therefore advancing our comprehension on humans. Lastly, theShow MoreRelatedDr. Entwistle s Psychology And Christianity With The Intent Of Using The Text For Undergraduate1255 Words   |  6 PagesIntegrativeApproaches to Psychology and Christianity with the intent of using the text for undergraduate coursework for students studying a wide variety of psychological forms. These forms of study include counseling and teaching as well as on the Graduate level for students studying Theology. The text begins with diverse worldviews intertwining Psychology and Christianity throughout various societies and each with its own deep rooted perspectives. Each culture has its own worldview regarding Psychology and ChristianityRead MorePsychology And Christianity : Integrative Approaches Essay1694 Words   |  7 Pages A 4MAT Review of Entwistle’s Text: Integrative Approaches to Psychology and Christianity Stacy H. McConville Liberty University Online A 4MAT Review of Entwistle’s Text: Integrative Approaches to Psychology and Christianity Summary David N. Entwistle in his book titled Integrative Approaches to Psychology and Christianity: An Introduction to Worldview Issues, Philosophical Foundations, and ModelsRead MoreThe Heresy Of White Christianity893 Words   |  4 PagesWhite Christianity.† Cross Currents 64(3):346–52. Retrieved 2015. This article is from a speech by Gloria Albert, â€Å"The Heresy of White Christianity†. This review of this speech goes in depth. The speech focuses on the relationship between faith and racism. This Speech is a response to another speech given by James Cone, â€Å"The Cross and the Lynching Tree†. This source will give a personal yet professional point of view of my topic. Anon. 2009. â€Å"Christianity - Oxford Reference.† Christianity - OxfordRead MoreThe New Christian Counsellor : A Fresh Biblical And Transformational Approach Essay1089 Words   |  5 PagesBook Review of the New Christian Counsellor: A fresh Biblical and Transformational Approach: Summary The new Christian Counsellor: A fresh Biblical and Transformational Approach is a book that aims to teach people and empower them to take possession of their souls in the contemporary life of a multi-faceted approach design. The authors are seasoned Christian counsellors who have a vast experience in dealing with people’s psycho-spiritual issues from a Christian point of view (Hawkins Clinton,Read MoreInternet Forum and Discussion Board Forums1224 Words   |  5 PagesCourse Syllabus COUN 506 Integration of Psychology and Theology Course Description Students critically examine the implications of a Christian worldview for counseling and marriage and family practice. Ethical issues relevant to the use of spiritual and religious interventions with individuals, couples, families are considered, along with current research related to spirituality and counseling. Rationale Integration of psychology, theology, and spirituality provides students anRead MorePsychology, Theology, and Spirituality in Christian Counseling by Mark McMinn1464 Words   |  6 Pages4 MAT Review McMinn Lynetric Rivers Liberty University Abstract In the book, â€Å"Psychology, Theology, and Spirituality in Christian Counseling†, author Mark McMinn gives the reader information on how these three entities can work together in Christian counseling. McMinn offers several ways in which this can be done including the use of prayer, Scripture, confession, forgiveness, the effects of sin, and redemption in counseling sessions. Through narration of counseling vignettes displaying differentRead MorePsychology and Theology1531 Words   |  7 Pages4-MAT Review: Psychology, Theology and Spirituality in Christian Counseling Freda Taylor Liberty University 4-MAT Review: Psychology, Theology and Spirituality in Christian Counseling McMinn, M. (1996). Psychology, Theology, and Spirituality in Christian Counseling. Carol Stream, IL: Tyndale House Publishers, Inc. ISBN: 0-8423-5252-X). Summary The Psychology, Theology, and Spirituality in Christian Counseling is the thought provoking book of McMinn which was published inRead MoreReview of Interventions That Apply Scripture in Psychotherapy1048 Words   |  5 PagesReview of Interventions That Apply Scripture in Psychotherapy Summary Garzon (2005) seeks to describe ways in which a therapist may use Scripture within psychotherapy interventions and to increase the awareness of therapists in these techniques. He bases this description by utilizing a case study by the name of George. Garzon contemplates issues surrounding scripture interventions. The article proceeds to relate interventions that use implicit scripture, psycho educational, theo educationalRead MoreClient Centered Therapy Or Person Centred Therapy1320 Words   |  6 Pages1. Describe the major views of the model. This model is called client-centered therapy or person-centered therapy. It can also be known as Person-centered Psychotherapy, Person-centered counseling or Rogerian Psychotherapy. The basis of Rogers’s therapy is designed and wrapped around the client. The focus by its name is the client. Rather than suggesting the person is a counselee or a patient they have chosen the word client to make it less clinical and more relational in how the person possiblyRead MoreEntwistle Book Review2213 Words   |  9 PagesBook Review: Integrative Approaches to Psychology and Christianity: David Entwistle Yvonne M. Garcia Liberty University Summary David Entwistle’s (2010) book, Integrative approaches to psychology and Christianity: An introduction to worldview issues, philosophical foundations, and models of integration, opens the reader’s eyes to unexpected possibilities, beginning with the often combative regimes of faith and reason using Tertullian’s symbolism of Athens as the seat of reason and Jerusalem

Heart of Darkness Parallels Free Essays

Heart of Darkness V Apocalypse Now The fictional novel Heart of Darkness by author Joseph Conrad is a book written in first person. The setting of the novel is in the Congo Jungle, with most of the book occurring on the Congo River. The novel describes Marlow’s story and his many strange encounters while traveling up the Congo River. We will write a custom essay sample on Heart of Darkness Parallels or any similar topic only for you Order Now Marlow is on a mission to retrieve the very successful ivory merchant Kurtz, who has been separated from his company. Heart of Darkness deals with themes of colonialism, racism, and savagery. While also exploring the potential darkness that can be seen in the heart of man. Apocalypse Now is a movie directed by Francis Coppola came out in 1979. It is set at the height of the Vietnam War. U. S. Army Captain Willard is sent on a top secret mission into the jungles of Cambodia. His mission is to seek out and destroy Colonel Kurtz, who is believed to have gone completely insane. The novel Heart of Darkness and the movie Apocalypse Now have many parallels. Both works follow the same story line but presented in completely different contexts. Even though Apocalypse Now is based upon the book, there are still many differences in themes, characters, and events. The largest of these differences is the setting and time of the two works. While watching Apocalypse Now the viewer is able to observe many scenes that are similar with the novel Heart of Darkness. One of the most apparent of these scenes is when the natives attack the men on the boats. After the attack Coppola and Conrad both use fog to show the uncertainty the characters have in regards to completing their tasks. The men in the novel begin to randomly shoot into the jungle once the attack begins. They are unable to see their attackers so they are shooting completely blind. After the attack is over a large cloud of smoke from the men’s guns floating in front of the boat. Marlow then continues to lead the men of the boat blindly up the Congo River. In Apocalypse Now after the attack by the natives, a fog also surrounds the boat. In the movie the fog is used to represents Willard’s thoughts. Captain Willard is not sure whether what he is doing is worthwhile. He has no idea what he is getting himself into; one of his men has just died without even knowing the purpose of his mission. The fog in both stories is used to represent the leader’s uncertainty of their missions. In both Apocalypse Now and Heart of Darkness madness is represented during the attack. In the novel the Helmsman goes crazy and in the novel Chief is the character that succumbs to madness. In Heart of Darkness when the natives attack the boat the Helmsman begins to go crazy, jumping up and down going absolutely mad during the attack, acting like a complete animal. He begins shaking his empty rifle and screaming at the men on the shore he is unable to see. In the movie, Chief begins to go mad when he realizes that not even Willard knows the location of where they are headed. When the boat is to be attacked by the natives with harmless arrows the Chief goes absolutely absurd. Screaming at the shores completely exposing himself to his attackers. A huge mistake because as soon as Chief exposes himself a spear that turns out to be deadly hits him. There are many parallels between the novel Heart of Darkness and the movie Apocalypse Now. Throughout the entire movie there are scenes that are nearly identical to the novel. During the attack seen parallels with fog and madness can be seen in both Apocalypse Now and Heart of Darkness. How to cite Heart of Darkness Parallels, Papers

Risks Associated with Choosing a Superannuation Fund of financial

Question: What Is The Risks Associated With Choosing A Superannuation Fund? Answer: Introducation: Superannuation and encouraging people to consider saving and investing especially for their future after retirement have been a major focus of emphasis in Australia particularly in the past two or so decades(Bodie, Shoven, Wise, 1988). Superannuation refers to organizational pension schemes that are created within a company for the maximum benefit of the employees. Taking the lead in this has been the Australian government that has taken a pro-active approach to the issue and directed that minimum contributions should be made to demonstrate compliance to superannuation or retirement funds on behalf of the employees by their respective employers. This figure stood at 3.6% of the employees salary when it was introduced but it was later amended to 9% in 2005(Bodie, Shoven, Wise, 1988). The employees themselves were also required to allocate a share of their income to superannuation investment. It was hoped that by introducing these measures, the burden will be lifted from the social s ecurity system that provides retirement or pension payments to support retired individuals for the rest of their lives after retirement. The mandated requirements on superannuation and increased awareness by individuals on the significance of saving have resulted in billions of dollars worth of contributions going into superannuation funds and institutions of finance each year(Brown, Gallery, Gallery, 2002). The financial institutions and the superannuation funds in turn participate in profitable investment of these contributions and provide adequate income to finance the lives of the individuals after they retire. It is therefore, no surprise that superannuation and mutual funds are considered as one of the biggest investors in the financial markets in Australia especially in equity securities in both locally listed and internationally listed companies in the share markets(Bodie, Shoven, Wise, 1988). There are varied employer pension programs in terms of design and can be classified as define contribution and defined benefit programs. The defined contribution program allows an employee to have an account into which their employer will deposit regular contributions(Bodie, Shoven, Wise, 1988). If the account is a contributory account, the employee also makes regular contributions. The level of benefits that the employee will receive depend on the total contributions and earnings from investments that will have accumulated in the account. In this plan, the employee has a considerable say in the type of investment assets that the accumulation can be derived from and can also determine the value of investment at any time suitable to them. The defined contribution plan are thus tax-deferred and fully funded savings accounts in trust for an employee. These plans are effectively not open to government regulators(Bodie, Shoven, Wise, 1988). A defined benefit plan on the other hand, a formula is used to determine an employees pension benefit. The formula takes into account the years of service to an employer, their wages, and salaries(Dulebohn, Murray, Sun, 2000). Several of the defined benefits programs in existence today take into account the benefits of social security entitled to the employee. Both the defined benefit and defined contribution plans have characteristic features that set them apart from each other with regard to the risks that apply to the employee and the employers, the impact of inflation to the benefit, the flexibility of funding, and significance of governmental supervision(Dulebohn, Murray, Sun, 2000). In recent times, there has been a steady shift from defined benefit pension plans to accumulation plans in Australia(Princen, 2013). More than half of this change is attributable to the changes in employment arrangements from large unionized manufacturing firms to smaller firms that are not unionized in the service industries that provide accumulation plans. This shift is attributed to an increase in the administrative and regulatory costs that have made defined benefit plans more expensive to employers due to the heightened regulatory scrutiny(Dulebohn, Murray, Sun, 2000). High labour mobility also made the prospect of defined benefits programs less attractive to employees. Superannuation in Australia has grown to about 90% since its inception but the majority of funds that are being established are accumulation funds and not defined benefit plans(Dulebohn, Murray, Sun, 2000). Fewer employers are offering their staff superannuation based on defined benefit programs. Consequently, the number of defined benefit plans has reduced significantly or are simply not available to new employees in the organizations and instead these individuals are advised to enroll to accumulation plans. In an accumulation plan, an employer pays an agreed amount, usually a percentage of the employees current salary to the superannuation fund(Brown, Gallery, Gallery, 2002). The employers obligation to the employee is fully discharged once their contribution has been deposited into the superannuation fund. The employees benefit from that moment on depend on the accumulation of their contribution to the plan including their earnings. This is different from the defined benefit pac kage where an actuary regularly reviews the rate of contribution and the extent to which assets contained in the superannuation fund are sufficient to cover obligation of paying benefits(Brown, Gallery, Gallery, 2002). If the actuary determines that the assets are inadequate to do so, the employer is under obligation to make additional contributions to the fund to cover the deficit(Brealey Meyers, 2010). In a defined benefit program, the employer covers the risk that the plan will cost more than the expected amount alongside the risk that the investment plan will generate less returns as compared to the expected(Chew, 2008). This stems from the increased administrative and investment costs that are incurred in management of the fund. For this reason, most employers underwrite the plan. On the other hand, in the investment choice plan, the employer is not obligated to the plan after making their periodic contribution to it. Thus, the employees or members of the fund bear the actuarial and investment risk associated with the fund particularly with its administration or management(Dulebohn, Murray, Sun, 2000). The members in this arrangement have a range of investments to choose from and these investments expose them to varying degrees of risk(Dunphy, Benn, Griffiths, 2014). The merits of a DBP and an ICP plan are balanced. Looking at future expected returns, both plans offer similar expectations in common circumstances thus it cannot be said that one plan is the better option of the two. In terms of benefits, the differences arise due to factors such as the age of the member, years of membership and future increments of their salary. Differences between the two plans in terms of the benefits that are ultimately payable arise from individual factors such as the members age, years of SSAU membership and future salary increases. Stevens assessment suggests that there was no bias at the time of the offer in respect of the two types of benefits that might have induced members to select one plan over the other. Risks Associated with Choosing a Superannuation Fund To achieve the objective of maximizing an individuals retirement benefits relies heavily on making an informed choice. An individuals unwillingness or inability to be informed and the costs involved in acquiring information play a significant role in making a choice, often an informed one(Dunphy, Benn, Griffiths, 2014). Evidently being informed includes taking time to acquire, review, and interpret the reports and other investment material. It also includes attending training sessions, consulting professionals on financial matters among other forms of information. Making the wrong decision can be costly. When the costs significantly exceed the perceived benefits of the choice, then a person can avoid the program altogether(Bolton, 2015). The risk transfer costs is a factor that needs to be considered irrespective of the amount or intensity of education an individual can receive. These costs include the costs of becoming informed as aforementioned such as the time invested into the exercise, or consultation with a financial expert, and never-ending process of monitoring the ICP option(Dulebohn, Murray, Sun, 2000). These factors have made many individuals to remain in the defined benefits program and not switch to the investment choice plan. The manner in which the benefits under each plan are determined is another area to consider before making the switch. Under the DBP, the employees benefit in the plan is linked to their period of employment and the final salary they receive before retirement. An Investment Choice Plan is similar to a savings account in a bank in that ultimate benefit is a sum of the accumulated contributions and the net investment earnings from the point that the periodic contributions are made(Quiry, Fur, Salvi, Dallocchio, Vernimmen, 2011). Thus, the different ways in which value is determined should be a concern to the tertiary employee. For example, a DBP is based on a formula and accrues over a long period hence; it is not possible to establish their exact value at any point in future(Bodie, Shoven, Wise, 1988). ICP benefits, in contrast, can be determined from the cumulated contributions and earnings from an established point(Bodie, Shoven, Wise, 1988). The characteristics of work and the risks brought about by the employee are also noteworthy in this case. This is because these risks contribute to the differences in the expected value of the benefits derived from both plans(Princen, 2013). Characteristics of work are inclusive of the initial age of employment, years of service, level of salary during the period of employment and retirement, and the longevity after retirement(Dulebohn, Murray, Sun, 2000). The most significant of these risks are those that come from changing jobs and risks emanating from the financial market. Both worker characteristics and types of risks borne by employees are contributory factors to differences in the expected value of benefits derived from defined benefit and accumulation plans. Worker characteristics include age at initial employment, years of service, salary levels during employment and at retirement, and longevity post-retirement. The major risks that lead to differences in the expected values of defined benefit and accumulation plans are those associated with changing jobs and financial market risks. Financial market risk is the second major risk and the most relevant to our study. In accumulation plans members directly bear financial market risk, whereas members of defined benefit plans are only indirectly exposed to such risk. In accumulation plans that offer choice of investment strategy, it is essential that members have a certain level of financial literacy to evaluate and monitor performance of the alternatives. In choosing an investment option, members are f aced with the tasks of examining, comprehending, and evaluating an array of financial information to assess the relative merits of the differing superannuation plan options. This process includes considering the nature of the investment strategy for each option, allocation of assets within each option, and assessing the relative risks and returns of each option to determine which one best matches the members risk-return preferences. Superannuation fund members who are more comfortable with making such significant investment decisions and are more willing to accept the associated financial risks are more likely to choose an accumulation plan over a defined benefit plan The statement is false because there are some factors that need to be taken into account. First, the efficient market hypothesis does not mean that the selection of the portfolio is carried out using a pin. There are still three issues that the manager needs to address. Top on that list that the manager needs to ensure that the portfolio has been diversified satisfactorily(Chew, 2008). The logic behind this is simple. A huge number of stocks is simply not enough to secure diversification. Hence, the resulting portfolio may not be well diversified if large stocks are taken as the measure for diversification. The result is that this may leave the fund with a unique risk that will not be recognized or rewarded. The manager should thus make sure that the portfolio is diversified well because the large number of stocks could all be in similar industries, a factor that does not represent many returns(Brealey Meyers, 2010). Hurling pins at the stock page may create diversification of the p ortfolio but the expected return or risk from the resultant portfolio cannot be controlled. Second, the resulting portfolio may bear excessive amounts of systematic risk for the individuals(Quiry, Fur, Salvi, Dallocchio, Vernimmen, 2011). With additional wealth it may not be too big a concern for these individuals to invest in an asset without any risks. However, if there is no additional wealth, the portfolio presents a very high beta with respect to the individuals preferences of risk. The pension fund manager will need to ensure that the risks associated with the diversified portfolio augers well with the clients. For the pension fund, the manager should select the portfolio that represents a safe investment for the client, which in this case refers to the stocks or bonds or a combined portfolio that have a lower beta(Princen, 2013). It is also prudent to consider the presence of taxes in this imperfect world. An investors tax position is very critical in a matter such as this one. Some specific assets have the tendency to generate surpluses due to their high taxability nature emanating from the equilibrating process(Princen, 2013). For investors in the lower bracket, the after-tax returns on the assets is manageable and favorable. Therefore, the manager should take the status of the tax into account in this case. Thus, the pension fund manager should tailor the portfolio in a manner that takes advantage of the special tax legislature governing pension funds(Brealey Meyers, 2010). Such legal provisions make it possible to increase the returns expected from the portfolio without incurring extra risk on the venture. References Bodie, Z., Shoven, J. B., Wise, D. A. (1988). Defined Benefit versus Defined Contribution Pension Plans: What are the Real Trade-offs? In Pensions in the U.S. Economy (pp. 139-162). Chicago: University of Chicago Press. Bolton, B. (2015). Sustainable financial management investments: Maximizing corporate profits and long-term economic value creation. New York: Palgrave, Macmillan. Brealey, R. A., Meyers, S. C. (2010). Principles of corporate finance. New York, NY: McGraw Hill. Brown, K., Gallery, G., Gallery, N. (2002). Informed superannuation choice: constraints and policy resolutions. Economic Analysis Policy, 32(1), 71-90. Chew, D. H. (2008). Corporate Risk Management. New York: Columbia University Press. Dulebohn, J., Murray, B., Sun, M. (2000). Selection among employer-sponsored pension plans: The role of individual differences. Personnel Psychology, 53, 405-432. Dunphy, D. C., Benn, S., Griffiths, A. (2014). Organizational change for corporate sustainability. Abingdon, Oxon: Routledge. Princen, S. (2013). Determining the impact of taxation on corporate financial decision-making. Reflets perpectives de la vie economique, 161-170. Quiry, P., Fur, Y. L., Salvi, A., Dallocchio, M., Vernimmen, P. (2011). Corporate finance: Theory and Practice. New York, NY: John Wiley Sons Inc.