Working With Different Service User Groups

Working With Different Service User Groups Explore the challenges faced by the differences in working with three Service User Groups adults, older people and children. Discuss how, by drawing on relevant life course theories, your communication skills would need to be modified in order to meet these challenges and remain effective, anti-discriminatory and anti-oppressive. Interacting via communication with Service users is of one of the highest important aims for social / care workers providing care. Each individual case is unique and I will be explaining how communication skills differ from each person to the next. There are many different life course theories that can be used to explain how a person develops through the stages of life. In this assignment I will be looking at Eric Bernes Transactional analysis for the adult group and showing how adults have to change their tone and manner as they are seen as the teachers for the next generation. I will be explaining Cunning and Henrys Disengagement theory as this is a very important phase for older people and communication can be limited because of the perils of old age. Also I will be looking at Piagets cognitive development theory and Bolwbys attachment theory in relation to children and how these theories affect communication. Eriksons eight stages of psychosocial development contains elements for all three age groups so I will be looking briefly at the different stages involved, and I will also be looking at any challenges that occur within the groups and what skills are needed to overcome this via social work / care workers. Interacting via communication with Service users is of one of the highest important aims for social / care workers providing care. Each individual case is unique and I will be explaining how communication skills differ from each one person to the next. There are many different life course theories that can be used to explain how a person goes through the stages of life. For adults I will be taking you through Eric Bernes Transactional analysis and for the elderly group I will look at Cunning and Henry Disengagement Theory and how this affects communication for the older generation and then I will be looking at Piagets cognitive development theory and Bowlbys attachment theory and how these theories affect communication within the childrens group. Then I will be showing how Eriksons eight stages of psychosocial development are involved in all three service user groups and I will also be looking at any challenges that occur within the groups and what skills are needed to overcome this via social work / care workers. A life course is the advancement a person takes from birth to cessation (Crawford and Walker, 2003 p. 3) Also (Newman and Newman, 2007 p. 185) shows the life course as a perspective which helps to explain how altering societal predicaments affect development and combination of the phases of family and work life over a number of years. (Fiske, 1982 p. 2) explains communication as being an action that every person can identify with, by talking, listening to the television or distributing knowledge these are all forms of communication. He describes two main studies of communication as being either an expression of words or a creation and replacement of meanings. If we take a look at the Transactional analysis theory (Woods, 2010) shows that Eric Bernes theory was about ego states which are parent, adult and child. It covers a wide range of exclusive advancement including communication, behaviour and personality. Looking at adult communication he saw this as being the main voice used to influence the whole learning process. He believes that if someone is talking in a childish manner automatically the adult will respond with a voice of authority, either in a sarcastic tone or a caring parenting manner. (Chapman, 1995) also shows that transactional analysis is used for therapeutic, personal development and communication; it helps a person understand ones self. To communicate we use our own feelings which can shift at any one given time, and to reply we will use the exact way of thinking. So to have stable conversations an adult needs to act interested to what is being said and show the person speaking that they have their full attention and thi s will make for a stronger relationship between them both. Favourable communication according to (Weger and Polcar, 2002) is the basic domain of an interpersonal friendship. If you offer support and are willing to provide comfort through good and bad times then this will in turn be a healthy natural relationship. (Wolvin, 2010 p.144) believes the art of communication is to listen, with doing this you are better able to understand the concept of communicating, and then you can identify and evaluate the question helping you to make sense of it. Behavioural issues can be defined by a persons determined state, they show up as objectives and by using these objectives a person will come up with a way of achieving their potential via talking. So by communicating it is up to the individual to put as much information into the conversation so the recipient can define their answer to make it a purposeful state (Ackoff, 1958) (Nussbaum, 2000) states that elderly people have to regularly change their lifestyle to adapt to adjustments associated with getting older. Age can cause many challenges for communication, examples are: memory loss or loss of hearing. Because of these it could take considerable time for any acknowledgement whilst trying to communicate, they may tend to make inaccurate sentences and be less sensitive about issues that may otherwise hurt someone elses feelings. There are many theories linked to prosperous aging examples of these are: continuity theory, activity theory, socioemotional selectivity theory and disengagement theory. Looking at the disengagement theory (Maddox, 1964) states that the disengagement is the final stage of the life course process. Life goals are a very important phrase in everybodys life and this seems to extend through to the older generation also. The belief is that psychological departure leads to total exclusion from the older persons social life, and without this communication will be very limited as they may not have any family of friends visiting on a daily basis. Communication with older people can be a complicated process. At the time when it is needed the most communication seems to be a burden because of the life processes which come with the old age. To overcome some of the frustrations of speaking to an older person if you allow extra time for them to speak and sit face to face with them, then if there is any hearing loss at least the person can watch your lips to understand what you are saying to them. If you speak slowly and clearly or even write down some of the conversation to explain in a bit more detail this then will help the person immensely and by doing this you are showing respect and helpfulness towards to person you are talking to (Robinson et al. 2006) There are many challenges involved with working with older people, (Hepple, 2004) shows there are many approaches that can be used to try and boost communication issues. Group and behavioural approach or reality familiarisation is widely used to try and amend the forgotten memories. Whichever approach is used will depend mainly on the resources of the institution that is providing the care plan for the service users involved. Looking at Piagets cognitive development (Feldman, 2004) believes that his work was not the dominant competitor for a while but now it has accomplished extensive significance to researchers again. Some critics thought his work was to complex and to widespread but his stages still form the basis of the developing mind. (Boeree, 1999) shows the stages of development for a child as being the Sensorimotor, preoperational, concrete operations and the formal operations stage. According to (Koprowska, 2005 p. 97) a baby within the first couple of months will try and make blubbering noises in response to you talking to them and will only start trying to develop simple words by the age of one. So the best means of communication with young children would be via play and interaction. Children do not enjoy sitting for long periods of time so by drawing or innovative games could be the easiest way for communication to take place for the younger age groups in Piagets stages. (Geddes, 2007) believes that using Bowlbys attachment theory will help in the understanding of sensitive experiences which in turn helps you to communicate with young children. The basis of communication is to show your inner self via your feelings, thoughts and creativity. So by looking at Bowlby, the attachment for a child will help with their future experiences if the start of their life is one of security within a family unit. The child then will be able to examine the world and if there are any pressures they can always return to their safe haven for security. With a negative attachment a child will struggle with communication and relationships. They tend to be insecure and prefer to keep themselves to themselves as they dont respond well to any attention and can start to be disruptive and aggressive because they feel vulnerable and out of their depth. The Children Act 1989 sets out the rights of the child, so the child needs to engage in any outcomes that will modify their lives and future. Social workers need impressive skills in communication as there are many barriers that can stop any interaction with the child so they need the ability to be able to cope under any form of pressure or obstacle placed before them. Social workers deal with many families and young children all with very different backgrounds examples of these are: children who are leaving care, children who have behavioural problems and children who may have health problems or disabilities, each case is different so the social worker needs to be able to produce a care plan and have the skills in place to communicate on every different level to provide the best possible care for the service users involved. (Koprowska, 2005 p. 94) Eriksons eight stages of psychosocial development involve all three age groups, when looking at children Eriksons stages progress through at least four of them. (Adoption media, 1995) states that if a child wants to proceed onto the next stage they need to complete the one before. A child will develop trust if well cared for and be insecure if not; this will show up in all the stages there is a negative to every positive. So a child will only learn from what they are taught and if they are shown the right way to develop through the various stages then as they become parents they will be secure and happy to show their children the right upbringing to carry on the process to the next generation. (Zastrow and Ashman, 2007 p. 444) states that the seventh stage of Eriksons life development is Generativity versus stagnation. Generativity is instructing family and friends to make improvements in their lives to make the future better for their offspring. This will involve safeguarding and improving the lives of future generations for a better quality of life. Stagnation on the other hand is the selfish side of the stage, adults who only think about their own needs and are not willing to take anyone elses feelings into consideration. (Greene and Kropf, 2009 p. 90) shows Eriksons final stage as being Integrity versus Despair. Absoluteness is achieved if the person involved has leaded a full and complete life, dealing with everyday disappointments as well as accomplishments successfully. Despair on the other hand is for the people who fear death and the ones who have not accomplished everything they wanted to do in their lives and wish for another chance to achieve this. If communication is not sort in the identity stage (Sanchez, 2002) states that this could affect self confidence in later life. New ideas start from communication, a person needs to be able to express their thoughts and feelings. Interpersonal communication through all of Eriksons stages will help an individual have a healthy developed identity. (SCIE 2010) shows how social workers have to work by their codes of ethics and values showing respect, empathy and a genuine helpfulness towards the service user they are working with. They will always provide a complete care package to help empower the individual to deliver the best possible outcome. If the social care worker uses an interpersonal approach this in turn will guide the service user to help them decide how their care is achieved and help make the decision process a group decision, so communication is a key element to this approach which will then help with the relationship between the user and the social care worker. To summarise there are many different ways to communicate with the three service user groups. People who work in the social work/care sector are trained to be able to customise their expertise to care and communicate at all levels. If the care worker shows empathy and helpfulness they will get more back from the service user then they would if you started the conversation with an aggressive attitude. Service users what to be listened to, they want you to understand what care they expect. You will have to change the way you speak in all different circumstances, speaking to children will be completely different to speaking to an adult or an elderly person. Body language and facial gestures also show as an important part of communicating with someone, even repeating what the other has said will show that you are taking them seriously. You need to be able to change your approach for all different situations and use different interventions to cater for each individual seeking care. Word count 2055

From good to evil in The Lord of the Flies Essay

The Lord of the Flies by William Golding is tale of a group of young boys who become stranded on a deserted island after their plane crashes. Intertwined in this classic novel are many themes, most that relate to the inherent evil that exists in all human beings and the malicious nature of mankind. In The Lord of the Flies, Golding shows the boys’ gradual transformation from being civilized, well-mannered people to savage, ritualistic beasts. From the time that the boys land on the island, both a power struggle and the first signs of the boys’ evil, Piggy’s mockery, occur. After blowing the conch and summoning all the boys to come for an assembly, an election is held. â€Å"‘I ought to be chief’ , said Jack with simple arrogance, ‘because I’m chapter chorister and head boy'†(page 22). This represents the beginning of civilization in all of the kids (which is changed later. ) After Ralph is Chief, Jack envies his position and constantly struggles for power with Ralph throughout the rest of the novel, convincing the rest of the boys to join his tribe rather than to stay with Ralph. Also, soon after the boys arrive at the island, Piggy, a weak character, is mocked by the other boys. After trying to recount all of the liluns’ names, Piggy is told to â€Å"Shut up, Fatty,† by Jack. Ralph remarks by saying, â€Å"He’s not Fatty. His real name’s Piggy. † All of the boys on the island, except for Piggy, laugh and make themselves more comfortable at Piggy’s expense. â€Å"A storm of laughter arose and even the tiniest child joined in. For a moment the boys were a closed circuit of sympathy with Piggy outside†(page 21). That quote shows that they are starting to become uncivilized. The boys become more comfortable with one another after Piggy’s mockery and create a bond, leaving Piggy on the outside. Along with inherent evil, man is also capable of being good and kind. While Jack and Ralph are exploring the island, they encounter a piglet which Jack supposedly attempts to kill. After gaining the courage to kill the baby pig, Jack talks about it by saying â€Å"I was just waiting for a moment to decide where to stab him (page 31). † This event clearly illustrates the good in Jack, since he is hesitant to kill something. Jack almost couldn’t kill the pig, because he felt bad doing it.. Jack’s mercy is short-lived, however, and when they encounter another pig, Jack and his hunters are relentless. They return to beach ritualistically chanting â€Å"Kill the pig. Cut her throat. Spill her blood,† where they excitedly explain the details of the hunt. â€Å"I cut the pig’s throat,’ said Jack, proudly, and yet twitched as he said it (page 69). Jack is internally struggling between his civilized teachings and savage instincts in this example, in which he both proudly exclaims his murder and twitches while doing so. Another example of the boys’ inherent evil is the brutal murder of the sow. Without any regard for the sow’s newborns, Jack commands his tribe to attack it. The boys â€Å"hurled themselves at her. This dreadful eruption from an unknown world made her frantic; she squealed and bucked and the air was full of sweat and noise and blood and terror† (page 135). The weird behavior of the boys in this example show that evil is starting to drive into them. After the death of the sow, the boys play with its blood and ritualistically celebrate their kill. The boys show no mercy for the sow and behave like savages. The murder of the sow allows the boys to revert back to their evilness and lose all traces of guilt and conscience. Ralph shows fatigue, a good causer of anger and dislike. He momentarily forgets the reasons why the signal fire is so important. â€Å"He tried to remember. ‘Smoke, he said, we want smoke. Course we have. The smoke’s a signal and we can’t be rescued if we don’t have smoke. I knew that! ‘ shouted Ralph† (page 172). Ralph begins to lose his initial cheerfulness and enthusiasm and replaces it with disinterest and hate. Piggy and Ralph separate themselves from Jack and his tribe. However, when Jack and his tribe kill a pig and invite Ralph and Piggy to join their feast, the two accept and cannot resist the temptation of the meat. Later on in the celebration, Jack and his tribe perform a ritualistic dance, in which Piggy and Ralph later join. â€Å"Piggy and Ralph, under the threat of the sky, found themselves eager to take a place in this demented but partly secure society† (page 152). They realize that the dance fueled the boys to murder Simon, and later deny their participation in it. â€Å"We left early, said Piggy quickly, because we were tired† (page 158). Ralph and Piggy recognize the evil in the dance, and know that if the others found out about their participation in it, then the boys would claim that Piggy and Ralph would be going against their own beliefs. Also, by not admitting their partaking in the dance, Piggy and Ralph are denying their involvement in Simon’s murder and their inherent evil. They do not believe that evil exists within them and believe that it will â€Å"disappear† if they do not believe in it. Simon and Ralph represent goodness and reason, and both encounter the Lord of the Flies. The Lord of the Flies is the head of a pig which is sacrificially given to the beast in order to preserve the boys’ safety. Simon is the first to talk with the Lord of the Flies ,and when he does, he learns that the beast (evil) is not in an animal out in the woods, but in the boys themselves. â€Å"Fancy you thinking the Beast was something you could hunt and kill. You knew didn’t you? I’m part of you,† (page 143) says the Lord of the Flies to Simon. The Lord of the Flies even says that the Beast is part of Simon, the symbol of goodness, suggesting that all human beings are born with both some evil and goodness. Later on while Ralph is fleeing from Jack and his tribe, he stumbles upon the Lord of the Flies. â€Å"Little prickles of sensation ran up and down his back. The teeth grinned, the empty sockets seemed to hold his gaze masterfully and without effort† (page 185). Soon after, Ralph hits the pig’s head and smashes it into pieces. By destroying the Lord of the Flies, Ralph denies his internal evil and primitive instincts. The difference between Ralph’s and Simon’s encounter with the Lord of the Flies is that Simon accepts The Lord of the Flies and listens intently to what it is saying to him. However, Ralph destroys it and then walks away from it. Both Ralph’s and Simon’s experience with the Lord of the Flies states that all men are capable of evil, and that evil is in all humans. â€Å"The Lord of the Flies† illustrates the capabilities of evil in all things. All of the boys on the island are tempted by evil, but not all of them give in to the craving. However, along with the evil that lies within all people, there is also a little bit of goodness, suggesting that all people have the free will to choose their destiny. The book clearly shows how people can turn into savage beasts.

How to Invest Like Warren Buffett Essay

Introduction Simplicity is the best word to describe the life of philanthropist and mega-billionaire Warren Buffett. The same single word also depicts his multi-billion worth of investment principles and strategies (Cunningham, 2008, p. 18). For more than fifty years Buffett was able to build a multi-billion investment empire with his simple investment philosophy. Like his more than 60 billion dollar fortune under his name, Buffett, who is by far the greatest philanthropist of all time for donating almost all of his wealth to the Bill & Melinda Gates Foundation, is also one of the most observed and most admired personalities in business with countless of articles, books and blogs written about him. If most common people look at him as the most generous man in the world today, people in the corporate world regard him as the greatest guru— or even ‘God’— in the realm of investment. With his great fortune, he is considered ‘God’ in investment because of his ability to spot real value when everybody focuses their attention on market movements and because of his unparalleled skills and knowledge to transform simplicity into greatness. If most billionaires like Bill Gates and Lakshmi Mittal built their business empires through managing profitable technology corporations and industrial firms, Buffett made billions by simply knowing how and when to invest his money. How He Started To know more about the investing secrets of Warren Buffett, it is necessary to look at how he managed his most precious property— his life, and how he lives it (Schroeder, 2008, p.1). He learned how and when to earn money at an early age, and he filed his first income tax return when he was only 13 (Sosik, 2006, p.149). Buffett’s value investment career started when he put his money in Berkshire Hathaway, a little known and ignored holding company based in Omaha, Nebraska in the 60’s. Now everybody is startled to know that if you invested $10,000 in the company in 1965, the value of that money today would be more than $30 million (Investopedia Staff, 2007). If his close billionaire friend Bill Gates dropped out of Harvard University to focus on Microsoft Corporation, Buffett, who is known in the business world as ‘Oracle of Omaha,’ was rejected by Harvard Business School. This experience somehow taught him a great deal not only about business but also about life. To most people Harvard is one of the best, if not the best, schools in the world, but Buffett thought otherwise— his basis of choosing school was not the institution, but the people who would impart the requisite knowledge and values. So when asked about his mentors, Buffett only had three people on top of his mind— his father, Benjamin Graham, and Phil Fisher. His father— Howard Buffett— taught him the positive values he needed to live, while Graham and Fisher taught him the basic principles in investment and how to make money in this profession. His investment style is consisted in the following rubric— think outside the box. When he graduated from college, he wanted to make money in Wall Street, but his father and Graham discouraged him (Miles, 2004, p. 30). The two believed that there were great opportunities waiting for him outside Wall Street. That was the time when everybody wanted to work on Wall Street and when everybody focused their attention on the stock market. Buffett believes that stocks are more than just an asset or capital; it is business. His Philosophy It would be futile to know the secrets of his billion dollar secrets without knowing how he thinks and what he believes in. Unfortunately, most of his biographers failed miserably to look into what is in the mind of the world’s greatest investor. In fact, a review of some literatures and articles would reveal that they just focus on the extrinsic side of Warren Buffett; they failed to look at the intrinsic aspect of his life. Many believe that his philosophy is consisted in these two major Buffet rules— first, never lose capital; and second, don’t ever forget the first rule (Miles, 2004, p. 70). It would be best to say that this does not embody Buffett’s philosophy but rather his tactical investment approach. A business philosophy is something that one holds as his primary direction in life— the fountainhead of his concepts and beliefs, the beacon of his goal, and the reason for living. Buffertt’s business philosophy can be expressed by his following simple quote— â€Å"Be feaful when others are greedy and be greedy when others are fearful† (Hagstrom, 1997, p. 52). Essentially this buffett-line expresses the inherent nature of free-market system, which he and his friend Bill Gates have in common. Under a free-market system, it is rational and ethical to be greedy, since the primary goal of a capitalist is not just to earn profit but to expand it and ensure that it creates limitless profits and opportunities. For some this statement may sound ironic or paradoxical since it contradicts the popular or media-fed persona of Warren Buffett. With this belief— that greed is good, Buffett was able to transform his meager investment into a multi-billion dollar empire that even exceeded that of Gates and Mittal. His investment experience proves that by creatively and greedily investing one’s money— one can make a good or even great fortune out of creative value investment. So what does it take to be like Warren Buffett? Definitely it takes a rational and moral philosophy, proper knowledge, and non-conventional investment point of view to follow the billion dollar investment footsteps of Buffett. But what is the role of philosophy in Warren Buffett’s billion dollar investment strategy? The problem with most people is that they tend to mainly focus on tips, secrets, or strategies. Most successful people did not achieve their status by keeping ‘success secrets’ or ‘strategies’ but by putting into action a rational philosophy that motivates and creates values. A simple look at the life and investment career of Buffett would reveal that it is his rational philosophy that continues to motivate him— that keeps on pushing him to do what he does best. As what Fridson said, budding investors must focus on â€Å"uncompromisingly rational investment philosophy† of Warren Buffett. This is because investment secrets or strategies can be absorbed or learned in a very short span of time or even overnight, but it takes an indefinite period of time to absorb and embody a rational philosophy to translate these secrets or strategies to reality. Of course, this billionaire will not exactly say what people would like to know. Contrary to the many written articles about his investment secrets or strategies, Buffett’s secret is in fact consisted only of three simple words that should be practiced everyday— â€Å"read, research, and think† (Miles, 2004, p. 70). Vague and ambiguous as it may seem but this three-pronged strategy is what Buffet practiced and embodied throughout his more than fifty years in the world of investment. That is why it is stressed in this paper that simplicity best describes the life and investment principles of Buffett. For example, this read-research-think approach of Buffett is the essential element of his cigar-butt investment method. Buffett in fact creatively applied this three-pronged approach in his early years as a value investor. Unlike most investors, Buffett put much premium on his rational judgment than on what most people see in the market. His investment style can be likened to that of a diamond prospector. He knows how to assess which diamond is real or not in just a single glance. He reads, he researches, and he thinks. His Investment Strategy Buffett’s investment strategy is governed by two rules and a number of principles. These dual rules have been mentioned above. This sets the difference between his investment philosophy and his investment strategy. Thus in this paper, Buffett’s investment strategy is composed of rules and principles. Under his primary rule, it is not sensible or moral for an investor to invest and then later on lose his money. Thus this can be avoided by paying attention to his three-pronged investment approach— read, research, and think. By following the aforementioned approach, a young investor may be able to discover several things that are essential in investment’s decision-making process. Buffett considered Graham as his investing mentor. According to Miles (2004, p. 72), it was the Graham school from which Buffett learned not just the basics but also the quantitative principles in investment. On the other hand, he learned a great deal about Fisher’s qualitative side of investment, such as brand, management skills, soft skills, and competition. Thus he said: â€Å"I am an active reader of everything Phil Fisher has to say† (Miles, 2004, p. 72). Now every promising and even established investor is eager to hear what he has to say. Despite his unparalleled success as an investor, he still gives credit to his two mentors, as he likes to say that he is 85 percent Graham and 15 percent Fisher (Hagstrom, 1997, p. 27). The reason why it is important to read, research and think is because in investment, it is highly indispensable to consider the following aspects: a) study the business; b) know well who runs it; c) put money in profits; and the most important of all d) have self-esteem. On the other hand, Buffett’s basic steps when investing are the following (Miles, 2004, p. 70): Determine how much you own Conduct research before buying Focus on business ownership not on stock ownership Simplify investments to manageable proportions Keep a single decision to hold a stock and be a continuing holder For example, before investing his money, Buffett researched first the nature and potentials of Gillette, which is still the world’s top producer of razor blade. Warren’s holding company Berkshire Hathaway invested $600 million in Gillette in 1989; four years ago it already owned 11 percent of said company. This means that from the original $600 million investment, Warren’s holding company’s investment grew up to over $3 billion. When he decided to purchase Gillette, he did not mind its value in the market but the potential profits it could muster in the long run. As a value investor, Buffett put money in securities with low prices according to their intrinsic value. In determining the value of a stock, there is no commonly acknowledged method to get the right figure. Basically, the focus of value investors is not on what the market says but on what the company’s potentials and fundamentals offer. This is because there are some companies that are undervalued by the market yet with good potentials to grow and rake in long-term profits. This is the attitude that Buffett showed to modern investors. Markets only reflect the short-term value of a company, and it takes proper knowledge, better understanding, and courage to discover which company is undervalued and has the capacity to establish a long-term profit-making success. His investment methodology Buffett’s methodology is composed of quantitative aspects in value investment. Under this process, he considers the relation between a stock’s quality and its value. Based on his method, the return on equity is equivalent to net income over shareholder’s equity (Investopedia Staff, 2007). One thing that Buffett considers is debt/equity. Before investing, he conducts research whether a company kept away from excess obligation. This is actually a basic principle in investment— do not invest in a company with huge debt. To Buffett, a debt-ridden company has a low capacity to guarantee return on equity. Debt/equity can be measured by dividing the total amount of obligations by shareholders’ equity (Investopedia Staff, 2007). If a company has more debt than equity, it is not advisable to put money in such company since it uses debt to finance its assets and operations. For instance, a company that has a higher ratio of debt vis-à  -vis equity has an unpredictable earning capacity and is prone to high interest expenses (Vick, 2000, p. 169). When one is investing in a particular company, it is advisable to look at the long-term obligation rather than the total amount of debt. Another aspect that is considered by Buffett is the profit margin. However it is not only important to know if a company’s profit margin is high, what is more important is to know whether it is growing. The capacity of a company to earn long-term profits relies not merely on having a positive profit margin but on constantly expanding this profit scope as well. The attitude of Buffett towards investment can be explained by how he managed Berkshire Hathaway. He purchases stocks to keep the same and he does not look at stocks as a commodity that can be bought and sold but as a business entity. His investment style is simple— he buys stocks and treats them as his own business, and this business makes profits not just for a short span of time but for as long as it stays profitable. He also considers the age of the company— the longer the better. Those that stay in the business for at least ten years are good investment opportunities. Since Buffett admits that he only has a limited knowledge in technology corporations he only puts money in a business which he absolutely understands. He puts much premium on longevity, and this principle brought him where he is right now. When he invested in Berkshire Hathaway, he envisioned of a long-term business that could earn a limitless amount of profit. This is what he learned from Graham, which most researchers consider as the proponent of old school in investment. Perhaps the new school in investment is the buy-and-sell style of most investors wherein profits are short-term and limited. Interestingly, Buffett also looks at the nature of business of a particular company. If most investors usually look at numerical figures, Buffett focuses on the qualitative sides of a company. For example, if a company depends on a commodity like gas and oil, he thinks that such company only offers limited returns on equity (Investopedia Staff, 2007). If the product of a company is identical from those of its market rivals, he thinks that competition would hamper the profit-making ability of such company. To understand the importance of this approach in investment, it is necessary to look at the biggest stock holdings of Berkshire Hathaway. The holding company owns 9.5 percent of Gillette, which is the leader in razor blade industry (Jubak, 2004). It also owns 9.2 percent or $10.1 billion of Coca-Cola, which is one of the biggest companies in the beverage industry. The other companies which Berkshire has shareholdings are the following: American Express, American Standard, Ameriprise Financial, Anheuser Busch, Burlington Northern, Comcast, Comdisco, Conoco Phillips, Diageo, First Data Corp., Gannett Inc., GAP, H&R Block, Home Depot Inc., Ingersoll-Rd Co., Iron Mountain, Johnson & Johnson, among many others (Losch Management Co., 2006). Conclusion Billionaire Warren Buffett is indeed an unconventional value investor who thinks outside the box. At a time when most people paid attention to what the stock market says, Buffett relied only on his competent judgment, on his rational philosophy, and on his self-styled investment principles and strategies. That investment philosophy— be greedy when others are fearful put him to where he is right now, with billions of dollars in his. Despite his unmatched success, he remains humble and still retains the ethical values he learned from his father (Boroson, 2002, p. 18). In business, greed is moral and good. In contrast, fear is something that must be overcome to earn limitless profits from investment. Indeed, Buffett attained his unparalleled success by being ‘greedy’ while others cowered in fear of losing their money.   Taken as a whole, his investment tactic can be summarized into three essential principles— a) make your strategy simple and understandable; b) be consistent with your operations and approaches; c) focus on positive long-standing prospects. One interesting point to take into account is that Buffett’s philosophy and investment strategies never contradict each other. When he advises new investors to be ‘greedy,’ he means profits and business. And when he tells people who would like to follow his footsteps to read, research, and think, he would like them to rely on their own judgment and not be affected by other people’s opinion and market trends. With his more than fifty years in business, Buffett introduced the importance of self-esteem in investment. That it is important to rely on one’s moral judgment. By relying on his own judgment, Buffett maximized his profit-making capacity through Berkshire Hathaway. This means that there is no difference between the work ethics and potentials of a value investor and an industrialist. If Bill Gates and Lakshmi Mittal both create technology through their colossal industrial empires, Buffett creates limitless potentials through his creative and self-inspired investment principles. REFERENCES Boroson, W. (2002). J.K. Lasser’s Pick Stock Like Warren Buffett. New York: Wiley Cunningham, L.A. (2002). How to Think Lke Benjamin Graham and Invest Like Warren Buffett. New York: McGrawhill Professional. Losch Management Co. (2006). Berkshire Hathaway Stock Holdings 2006. Retrieved December 11, 2008, from http://www.loschmanagement.com/Berkshire%20Hathaway/Berkshire%20Holdings/2006.pdf Hagstrom, R.G. (1997). The Warren Buffett Way: The Investment Strategies of the World’s Greatest Investor. New York: Wiley. Investopedia Staff (2007, September 21). Warren Buffett: How He Does It. International Business Times. Retrieved December 11, 2008, from http://www.ibtimes.com/articles/20070921/how-he-does-it.htm Miles, R.P. (2004). Warren Buffett Wealth. Principles and Tactical Methods Used by the World’s Greatest Investor. London: Wiley Sosik, J.J. (2006). Leading With Character.   North Carolina: Information Age Publishing. Vick, T.P. (2000). How to Pick Stock Like Warren Buffett. New York: McGrawhill Professional.

The Oklahoma City Bombing, 1995

At 9:02 a.m. on April 19, 1995, a 5,000-pound bomb, hidden inside a rented Ryder truck, exploded just outside the Alfred P. Murrah Federal Building in Oklahoma City. The explosion caused massive damage to the building and killed 168 people, 19 of whom were children. Those responsible for what became known as the Oklahoma City Bombing were home-grown terrorists, Timothy McVeigh and Terry Nichols. This deadly bombing was the worst terrorist attack on U.S. soil until the September 11, 2001 World Trade Center attack. Why Did McVeigh Plant the Bomb? On April 19, 1993, the standoff between the FBI and the Branch Davidian cult (led by David Koresh) at the Davidian compound in Waco, Texas ended in a fiery tragedy. When the FBI tried to end the standoff by gassing the complex, the entire compound went up in fire, claiming the lives of 75 followers, including many young children. The death toll was high and many people blamed the U.S. government for the tragedy. One such person was Timothy McVeigh. McVeigh, angered by the Waco tragedy, decided to enact retribution to those he felt responsible—the federal government, especially the FBI and the Bureau of Alcohol, Tobacco, and Firearms (ATF). In downtown Oklahoma City, the Alfred P. Murrah Federal Building held numerous federal agency offices, including those of the ATF. Preparing for the Attack Planning his revenge for the second anniversary of the Waco disaster, McVeigh enlisted his friend Terry Nichols and several others to help him pull off his plan. In September 1994, McVeigh purchased large amounts of fertilizer (ammonium nitrate) and then stored it in a rented shed in Herington, Kansas. The ammonium nitrate was the main ingredient for the bomb. McVeigh and Nichols stole other supplies needed to complete the bomb from a quarry in Marion, Kansas. On April 17, 1995, McVeigh rented a Ryder truck and then McVeigh and Nichols loaded the Ryder truck with approximately 5,000 pounds of ammonium nitrate fertilizer. On the morning of April 19th, McVeigh drove the Ryder truck to the Murrah Federal Building, lit the bombs fuse, parked in front of the building, left the keys inside the truck and locked the door, then walked across the parking lot to an alley. He then started to jog. The Explosion at the Murrah Federal Building On the morning of April 19, 1995, most employees of the Murrah Federal Building had already arrived at work and children had already been dropped off at the daycare center when the huge explosion tore through the building at 9:02 a.m. Nearly the entire north face of the nine-story building was pulverized into dust and rubble. It took weeks of sorting through debris to find the victims. In all, 168 people were killed in the explosion, which included 19 children. One nurse was also killed during the rescue operation. Capturing Those Responsible Ninety minutes after the explosion, McVeigh was pulled over by a highway patrol officer for driving without a license plate. When the officer discovered that McVeigh had an unregistered gun, the officer arrested McVeigh on a firearms charge. Before McVeigh was released, his ties to the explosion were discovered. Unfortunately for McVeigh, almost all his purchases and rental agreements related to the bombing could be traced back to him after the explosion. On June 3, 1997, McVeigh was convicted of murder and conspiracy and on August 15, 1997, he was sentenced to death by lethal injection. On June 11, 2001, McVeigh was executed. Terry Nichols was brought in for questioning two days after the blast and then arrested for his role in McVeighs plan. On December 24, 1997, a federal jury found Nichols guilty and on June 5, 1998, Nichols was sentenced to life in prison. In March 2004, Nichols went on trial for murder charges by the state of Oklahoma. He was found guilty of 161 counts of murder and sentenced to 161 consecutive life sentences. A third accomplice, Michael Fortier, who testified against McVeigh and Nichols, received a 12-year prison sentence and was fined $200,000 on May 27, 1998, for knowing about the plan but not informing authorities before the explosion. A Memorial What little remained of the Murrah Federal Building was demolished on May 23, 1995. In 2000, a memorial was built on the location to remember the tragedy of the Oklahoma City Bombing.