10 Mutual Fund Terms

10 Mutual Fund Terms

As you probably know, a mutual fund is an investment that pools together money from a number of investors. It then uses professionals to manage and invest this money with the aim of achieving a return.

The mutual funds industry is regulated by the Securities and Exchange Board of India.

If you are interested in investing in mutual funds, here are some terms you need to understand.

AMC

An Asset Management Company is the fund house or the company that manages the money.

The mutual fund is a trust registered under the Indian Trust Act. It is initiated by a sponsor. A sponsor is a person who acts alone or with a corporate to establish a mutual fund. The sponsor then appoints an AMC to manage the investment, marketing, accounting and other functions pertaining to the fund.

For instance, ABN AMRO Trustee (India) Private Limited is appointed as the trustee to the ABN AMRO mutual fund.

ABN AMRO Asset Management (India) Limited is appointed as its investment manager.

Various funds with different objectives can be floated under the umbrella of one parent.

So ABN AMRO Equity Fund, ABN AMRO Opportunities Fund and ABN AMRO Flexi Debt Fund are all independent schemes of ABN AMRO Mutual Fund. They are managed by the ABN AMRO AMC.

NAV

The Net Asset Value is the price of a unit of a fund. When a fund comes out with an NFO, it is priced Rs 10. Later, depending on the value of the investments, this price could rise or fall.

Load

This is a fee that is charged when you buy or sell the units of a fund.

When you buy the units of a fund, you pay a percentage of it as a fee. This is known as the entry load.

Let's say you are investing Rs 10,000 and the entry load is 2%. That means you pay Rs 200 as the entry load and Rs 9,800 is invested in the fund.

Now, let's assume you are selling the units of your fund. And the Rs 10,000 you invested initially is now Rs 15,000. Let's further assume the exit load is 2%. So you pay Rs 300 and get back Rs 14,700.

Generally, if funds charge an entry load, they will not charge an exit load. Or vice versa. Only one of the loads is charged.

The load is a percentage of the NAV.

Portfolio

This is the term given to all the investments made by the fund as well as the amount held in cash.

Corpus

Let's assume a very small mutual fund has an initial investment of 1,000 units and each unit is worth Rs 10. Hence, the total amount with the fund is Rs 10,000. This is referred to as the corpus. Later, some other investors invest Rs 2,000. Now the corpus will be Rs 12,000 (Rs 10,000 + Rs 2,000).

The total amount invested (Rs 12,000) is called the corpus or the total amount of money invested in the fund.

AUM

Assets Under Management is the total value of all the investments currently being managed by the fund.

Let's say the corpus is Rs 12,000 but, due to a rise in the price of the shares it has invested in, the value of the units has increased. So the Rs 12,000 invested is now worth Rs 15,000. This figure is referred to as AUM.

Diversified equity mutual fund

This is a mutual fund that invests in stocks of various companies in various sectors.

ELSS

Equity Linked Saving Schemes are diversified equity mutual funds with a tax benefit under Section 80C of the Income Tax Act.

To avail of the tax benefit, your money must be locked up for at least three years.

Balanced fund

A fund that invests in both equity (shares) and debt (fixed return investments) is known as a balanced fund.

Debt fund

These are funds that invest in fixed return investments like bonds. A liquid fund is one that invests in money market instruments, these are fixed return investments of a very short tenure.

NFO

A New Fund Offering is the term given to a new mutual fund scheme.

SIP

A Systematic Investment Plan refers to periodic investing in a mutual fund. Every month or every three months, the investor will have to commit to putting in a fixed amount. This will go towards the purchase of units.

Let's say that every month you commit to investing, say, Rs 1,000 in your fund. At the end of a year, you would have invested Rs 12,000.

If the NAV on the day you invest in the first month is Rs 20, you will get 50 units.

The next month, the NAV is Rs 25. You will get 40 units.

The following month, the NAV is Rs 18. You will get 55.56 units.

So, after three months, you would have 145.56 units. On an average, you would have paid around Rs 21 per unit. This is because, when the NAV is high, you get fewer units per Rs 1,000. When the NAV falls, you get more units per Rs 1,000.

Interview tips I

Interview tips

In an interview the art of conversation is perhaps the most valuable attribute since an interview is nothing but a verbal dues between a selector and candidate.

A good conversation is contingent on the rapport a candidate establishes with the interview board. The process of a rapport building must start from the moment one knocks at the selector's door. A gentle, soft knock is always called for before entering the room. A smile and a greeting have to consequently follow one's entry. Developing eye contact from the beginning is very essential to overcome nervousness and hide tension The first impression one creates goes a long way in the ultimate selection/rejection of oneself. One's steps should be measured and greeting formal. The candidate's bearing should be that of a person who is eager to tackle the most difficult questions.

The first step towards improving conversational ability is to realize the basic fact that the other party is a poor listener and one has to exercise all ability and ingenuity to not only hold the party's attention but also to convincingly project a positive image of oneself. There are numerous impediments to good listening.

The most relevant impediment is distraction. Under no circumstance should any action on the candidate's part cause the interviewer any distraction. Distractions are generally caused by flashy dresses, exaggerated and aimless gestures and nervous movement such as frequently shifting one's position on the chair, blinking, drumming on the table with finger tips, wiping perspiration from face or forehead, scratching one's head, giggling nervously, cracking one's knuckles, too, much waving of hands and so on.

There are three primary components in conversation: Voice, delivery and words, Besides these, there are other elements which accentuate one's personality during conversation. Among these are general appearance and manners. A good personality in the context of an interview is the sum total, of all the positive aspects minus the negative aspects.

The interviewer' s business is to try and expose an interviewee' s weakness. Hence the interviewee' s endeavor shall be to project his positive qualities in a convincing and pleasing manner, and he can do so through the spoken word.

The tone of delivery should be normal and the volume should be in accordance with the distance. The delivery pace should be optimal i.e. neither fast nor slow. Proper spacing of words with periodical pauses helps in emphasizing appropriate words preventing the talks from being monotonous and boring. The candidate should not rush his answers. He must let his words and sentences sink and make an impact on the selector. The sentences should be short and the languages simple.

Successful conversation demands clear thinking, expressed in concise and grammatically correct language, which must convey facts in an easily understandable and interesting manner.

The interview panel comprises normally 3 members mostly professors of the IIM's concerned. The normal interview time per candidate is 20-25 minutes. Let us stress the point that the members of the panel, as a rule, have a very cordial; manner and will try their best to make you feel at home, Since your have made it in their stiff written test (You are among the 1,800 out of about 40,000 students) they know that you are a competent student; they are only eager to see you as a person and to ascertain for themselves if you do reflect some of your competence in a face to face situation.

The most searching questions you can imagine during an interview are on :

• Your Field of Study
• Your General Awareness
• Your Career Plan
• Your Hobbies
• Your Strengths / Weaknesses

Unless you are really dimwitted person (which you aren't we're sure) you should be able to guess realistically, about 80 percent of the questions any interviewer could possibly ask you. Put your answers in writing and go over them to see if they are clear, sensible and convincing. If they are, you win the game.

Sample Questions

1. Tell us about yourself. 2. Why do you want to pursue management as a career? (Justify with reasons) 3. What are your career objectives? (both long term & short term) 4. What do you feel about your academic performance till now? 5. Which is your favorite subject? (Be prepared for question in this area) 6. How do you spend your leisure time/spare time? 7. One significant achievement in your Life till now. Elaborate why? 8. What are your strengths and weaknesses? 9. What would you do if you do not get selected to any of the management schools? 10. Who is your idol? (Be prepared for further questions) 11. Why should I select you? 12. What is management, define it? 13. Which branch of management do you want to join? Define that branch and why do you want to go for this branch only? 14. Your previous background and now what are you doing at present and what you have done? 15. If you are from any background/Science/ Commerce/ Arts/Engineering /. Then why do you want to go for management, when there are already better prospect in it? 16. Your strong/weak points, how you got to know about it. How is your strong points going to help become a good manager. Don't you think your strong points is , your weak points and Don't you think your weak points can be hurdle for becoming a good manager. 17. What do you consider yourself after two months/two years/5 years/10 years 18. What is your ultimate career fantasy? 19. What will be your contribution to our institute? 20. What will be your reaction if you are rejected? 21. Your hobbies/interests. TECHNICAL QUESTIONS ON IT 22. Special achievement if any and why? 23. Worst moment of your life and why? 24. Best moment of your life and why? 25. Why this institute only? 26. Work experience if any detail? 27. Have you read any book (general/management ) a) Brief b) Morale c) How this book is going to help you in becoming a better manager.

Interviewee' s Checklist

Interview Assessment

The interviewer scores the candidates on certain pre-determined parameters, which, according to him, constitutes the essential requirements for the assignment on. The criterion/criteria used by him for evaluation may be single or multiple with respect to each parameter. Some of the important parameter and the criteria generally used for evaluation are listed below: 1. Intellectual Attainments: (a). The depth of knowledge of the subject of the candidate's choice as well as of other subjects. (b). Practical knowledge - as to how a candidate applies his theoretical knowledge in practical situations (c). General knowledge, current affairs, everyday science, controversial topics, sports social issues, newspaper headlines etc. (d). Grape - as to how quickly a candidate understands the question as subject. 2. Power of Expression: (a). Fluency: as to how quickly the candidate converses in the oral medium of communications. (b). Logic in argument: as to how rational, clear-headed, analytical and systematic the candidate is in presenting his arguments. (c). Convincing ability: as to how the candidate is able to lend conviction to his arguments. 3. Personal traits: a). Personal disposition: Smiling, cheerful and pleasant. (b). Liveliness demonstrated: as to how eager, alert, sprightly and ambitious the candidate is. (c). Enthusiasm: Does the candidate display keenness and interest in his approach? (d). Dress and turnout: Smart, clean and suited to the occasion. Neat clothes, proper haircut, clean nails and polished shoes. (e). Poise: Graceful movements, confident approach, straight walk, eye contact. (f). Punctuality 4. Career objectives: (a). Clear aim - His ambition and goal in life. (b). A systematic approach towards career planning. (c). Analysis of his strength and weaknesses. 5. Character: (a). Integrity and moral values. (b). Sincerity and loyalty. (c). Self discipline. 6. Health and physical stamina: (a). Participation in sport and other physical endurance activities like trekking, camping etc. 7. Hobbies and Interests: a). Optimum utilization of spare time for developing self interest in leisure activities like reading, cinema, music, philately, fine arts etc. 8. Dynamic Qualities: (a). Self confidence (b). Initiative and enterprise (c). Industrial temperament (d) Decision making abilities (e) Resourcefulness ( f). Motivation 9. Psychological Factors: (a). Positive thinking, confident and determined approach (b). Optimistic and hopeful outlook (c). Absence of anti-social or negative qualities. 10.Social Qualities: (a). Sense of responsibility (b) Adaptability and flexibility. (c). Preference to group life and activity. (d). Ability to influence others and get things done Every candidate will have a certain degree of proficiency in each of the areas mentioned above. A careful introspection by the candidate will reveal his strengths and weaknesses with respect to the various criteria. By rigorous preparation, training and practice the candidate can improve himself in spheres in which he lacks ability. Format for Assessment CRITERIA POINTS SCORE A. EDUCATIONAL BACKGROUND 1. Breadth & depth of knowledge in the subjects studied. 2. Ability to apply theoretical concepts to practical considerations 3. hobbies and other pursuits 4. Career plan-clarity of goals and consistent strategy to achieve them 10 B. CONCEPTUAL SKILLS 5.Mental Alertness-General awareness of local/national/ world problems and ideas leading to their solution 6. Judgment -ability to analyze clearly and to arrive at sound conclusions 7. Creativity-novelty of approach & ability to evolve alternative suggestions 10 C HUMAN SKILLS 8. Maturity, level-headedness- poise and confidence 9. Communications Skills-clarity of ideas and expression-ability to listen attentively 10. Leadership Skills-sincerity, enthusiasm and friendliness- ability to lead a group 10 TOTAL 30 Less than 10 points Below average Between 11 & 20 Average Above 20 Above average PLEASE NOTE THAT THE WEIGHTAGE GIVEN TO PERSONAL INTERVIEWS IS MORE THAN THAT GIVEN TO G.D.'s Interviewee' s Checklist Interviewee' s checklist Preparation: Were you familiar with the organization/ institute' s requirements (behavioral and others)? Did you work out a strategy and plan? Greeting and rapport: Did you establish a good rapport right in the beginning by maintaining an affable posture and sociable poise? Giving information: Did you listen fully and attentively to the questions before answering? Did you give open-ended answers? Did you draw upon your past experience to illustratively express your answers? Did you attempt to think logically and reason out with the interviewer in the case of probing and hypothetical questions? Did you fall into the yes/no trap questions? Did you summarize, to confirm what the interviewer asked? Did you make the interviewer talk by asking him for feedback? Did you get bogged down by unpleasant questions? Did you avoid telegraphic answers? Did you interrupt he interviewers too often? Could you notice a pattern emerging during the interview? Was the interview more of a conversation or a question answer examination? Parting: Was the parting smooth, comfortable and promising? Self-evaluation: Did you manage to present your strengths convincingly to the board? Did you avoid the following traps? (a) Jumping to conclusion (b) Answering loaded question (c) Getting into arguments on morals and integrity. (d) Undermining the interviewers. (e) Exaggerating your claims. (f) Breaking down under stress. Cross-checking ones performance in an interview with the above check-list will help one prepare better for future interviews.

Windows boot.ini

Windows boot.ini

Boot.ini is one of the very first files that come into play when a Windows XP system is started up. It is a plain text file that is kept in the system root, so it is usually C:\boot.ini. Because it is an essential system file, the attributes are set to hidden, system, read-only to protect it. That means that it will not appear in the file lists in My Computer or Windows Explorer unless the default Windows settings are changed to show hidden files.

Boot.ini contains the location of the Windows XP operating system on the computer. If there is a multi-boot system, the locations of of any other operating systems are also contained. During the startup process, functions from the Windows XP file named "Ntldr" are in charge of getting the proper operating system loaded and Ntldr looks at boot.ini to find out where the operating systems are located and whether a menu should be displayed. Boot.ini can also include entries giving boot options such as Safe Mode or the Recovery Console.

Some examples of boot.ini files

A typical simple example	[boot loader] timeout=30 default=multi( 0)disk(0) rdisk(0)partitio n(1)\WINDOWS [operating systems] multi(0)disk( 0)rdisk(0) partition( 1)\WINDOWS= "Microsoft Windows XP Professional" /fastdetect
Example with Recovery Console as an option	[boot loader] timeout=30 default=multi( 0)disk(0) rdisk(0)partitio n(1)\WINDOWS [operating systems] multi(0)disk( 0)rdisk(0) partition( 1)\WINDOWS= "Microsoft Windows XP Professional" /fastdetect C:\CMDCONS\BOOTSECT .DAT="Microsoft Windows Recovery Console" /cmdcons
Example of a dual-boot system with XP on partition 2. Note that the location of Windows Me is given as C:\	[boot loader] timeout=30 default=multi( 0)disk(0) rdisk(0)partitio n(2)\WINDOWS [operating systems] multi(0)disk( 0)rdisk(0) partition( 2)\WINDOWS= "Microsoft Windows XP Professional" /fastdetect C:\ = "Microsoft Windows Me "
Example with Safe Mode as an option and "timeout" =10 seconds	[boot loader] timeout=10 default=multi( 0)disk(0) rdisk(0)partitio n(1)\WINDOWS [operating systems] multi(0)disk( 0)rdisk(0) partition( 1)\WINDOWS= "Microsoft Windows XP Professional" /fastdetect multi(0)disk( 0)rdisk(0) partition( 1)\WINDOWS= "Safe Mode" /safeboot:minimal /sos /bootlog

Open Start-Run and enter "msconfig". The box shown below will open.

Click the tab "BOOT.INI" and the figure shown next will open. The contents of the boot.ini file are shown and a number of configuration settings are available. In the middle right is a box where the settings for Timeout can be changed.

The command line tool bootcfg.exe

Windows XP Professional also has a command line utility for manipulating boot.ini called bootcfg.exe. (It may or may not be in a Home Edition installation. ) It is described in this Microsoft reference. It can be used in the Recovery Console to repair a damaged boot.ini file or in a command window to edit entries to the file. There are a number of different switches and these are illustrated in the output to a command window shown below

Your Choices for Changing the Boot Menu

Boot up the Windows™ 2000, XP or 2003 OS and open "Control Panel" then click on "System" (or select "Properties" after right-clicking on My Computer). Under the "System Properties" window's "Advanced" tab, if you click on "Startup and Recovery" you'll see at least two basic items in the BOOT.INI file that you're allowed to change from this dialog box: 1) You can select the default OS to boot up, and 2) How many seconds to display the boot menu. And under Windows™ XP or 2003, you'll find another button that gives you direct access to editing the whole BOOT.INI file! Under Windows™ 2000, you'll need to find the BOOT.INI file on your own for further editing; such as arranging the order in which the OS selections appear in the menu. So, if you decide to delete the new OS, simply set your old OS as the default boot OS and uncheck the item for displaying the menu list (or manually set it to zero; same result). You could then safely delete the new OS partition, but not the files it added to your old partition.

Explanations for each part of BOOT.INI

[boot loader]
timeout=10
default=multi( 0)disk(0) rdisk(0)partitio n(2)\WINDOWS
[operating systems]
multi(0)disk( 0)rdisk(0) partition( 2)\WINDOWS="Microsoft Windows XP" /fastdetect
C:\ = "Microsoft Windows"

Option	Description
multi(x)	This option is used with IDE and ESDI drives and is also used with SCSI drives for computers using Windows NT. The number used in the above example is "0", this number is the adapter's number and should always be "0" for computers that rely on the BIOS to load system files. In a computer using only IDE this option will work with up to four hard disk drives. In a computer using only SCSI this option will work with the first two drives on the primary SCSI controller. Finally, if a computer is using IDE and SCSI this option will work with the IDE drives on the first controller.
scsi(x)	If the computer has a SCSI controller and is not using BIOS to load the system files, the boot.ini may have "scsi(x)" instead of "multi(x).
disk(x)	The disk on the controller. If "multi(x)" is used used, this value will always be "0". However, if "scsi(x)" is defined, this value will be SCSI address.
rdisk(x)	Which disk on the controller is being used. In the above example we are using an rdisk of "1", which indicates the second disk on the primary controller is being used. This value may be between "0" and "3" and is always set to "0" when "scsi(x)" is being used.
paritions(x)	Which partition the operating system is on. In the above example, the operating system is on the first partition of the drive.
\WINDOWS=".. ."	Finally, the last portion of this line defines the directory of where windows is located and what the boot menu should display as the operating system. In the above example, the boot menu would display "Microsoft Windows XP Home Edition" as a selection.

In the "[boot loader]" section above, the "timeout" entry is how many seconds (30 in this case) that the menu will remain onscreen before trying to boot up the "default" OS.

default=multi( 0)disk(0) rdisk(0)partitio n(2)\WINDOWS: -

Most of these lines use what are known as ARC (Advanced RISC Computing) paths to specify the location of various boot partitions. Almost every machine using ATA (EIDE / IDE) hard drives will have: "multi(0)disk( 0)". The multi(x) parameter is used to set the disk controller number, where x=0,1,2,... . The multi(x) parameter is always followed by disk(0); unless you're using a SCSI controller without the BIOS enabled.

The second line under the "[operating systems]" section is what you could call an alternate, backup or rescue copy of my main Win2000 OS which is located in the same volume as the main OS. A line like this will only be found if you install the Recovery Console files from your install CD onto your hard disk! Though its entry appears to differ radically from the usual
"multi(0)disk( 0)" + "rdisk(n)" + "partition(p) " + "\systemroot" format.

Modifying the Boot.ini

At the MS-DOS prompt, type:

c:
cd\
attrib -r -a -s -h boot.ini
edit boot.ini

While you can modify the Boot.ini file using the Startup and Recovery dialog, where you can select the default operating system, change the timeout value, or manually edit the file, the following method uses the command line utility, Bootcfg.exe.

Note The Bootcfg.exe utility is only available in Windows XP Professional. This utility is not available in Microsoft Windows XP Home Edition. Therefore, this section does not apply to Windows XP Home Edition.

1.	Click Start, and then click Run.
2.	In the Open text box, type cmd.
3.	At the command prompt, type bootcfg /?.
4.	The help and parameters for BOOTCFG.exe will display.

Adding an Operating System

At the command prompt, type:

bootcfg /copy /d Operating System Description /ID#

Where Operating System Description is a text description (e.g. Windows XP Home Edition), and where # specifies the boot entry ID in the operating systems section of the BOOT.INI file from which the copy has to be made.

Removing an Operating System

At the command prompt, type:

bootcfg /delete /ID#

Where # specifies the boot entry ID that you want to be deleted from the operating systems section of the BOOT.INI file (e.g. 2 for the second Operating system that is listed.

Setting the Default Operating System

At the command prompt, type:

bootcfg /default /ID#

Where # specifies the boot entry id in the operating systems section of the BOOT.INI file to be made the default operating system.
Setting the Time Out

At the command prompt, type: bootcfg /timeout# Where # specifies the time in seconds after which default operating system will be loaded.

Open the Boot.ini File to Verify Changes

1.	Right-click My Computer, and then click Properties. -or- Click Start, click Run, type sysdm.cpl, and then click OK.
2.	On the Advanced tab, click Settings under Startup and Recovery.
3.	Under System Startup, click Edit.

How to rebuild the Windows boot.ini

1. Insert the Microsoft Windows XP CD into the computer. Note: If you have a system recovery CD or restore CD these steps will likely not work for your computer.
2. Reboot the computer with the CD and press any key when prompted to press any key to boot from the CD. If you do not receive this prompt and/or are not able to boot from the CD.
3. Once in the Microsoft Setup menu press R to open the recovery console.
4. Select the operating system you wish to use; if you only have Windows XP on the computer you will only have one prompt.
5. Once prompted for the password enter the Admin password and press enter.
6. Once at the command prompt type bootcfg /rebuild to start the rebuild process.
7. The rebuild process will step you through a number of steps depending upon how many operating systems you have on the computer and how the computer is setup. Below is a listing of the common steps you are likely going to encounter.
   
   * Prompt for the identified versions of Windows installed. When you receive this prompt press Y if the bootcfg command properly identified each of the Windows operating systems installed on the computer. It is important to realize this command will only detect Windows XP, Windows 2000, and Windows NT installations.
   
   * Prompt to enter the load identifier. This is the name of the operating system for the boot.ini. For example, Microsoft Windows XP Home users would enter "Microsoft Windows XP Home edition".
   
   * Prompt to Enter OS load options. When this prompt is received type /fastdetect to automatically detect the available options.
   
   
8. Once you have completed all the available options in the rebuild and are back at the prompt type exit to reboot the computer.

GENERAL PACKET RADIO SERVICE(GPRS)

GENERAL PACKET RADIO SERVICE(GPRS)

Introduction

The General Packet Radio Service (GPRS) is a new non-voice value added service that allows Mobile Phones to be used for sending and receiving data over an Internet Protocol (IP)-based network. GPRS as such is a data bearer that enables wireless access to data networks like the Internet, enabling users to access E-mail and other Internet applications using Mobile Phones

With GPRS you can enjoy a continuous wireless connection to data networks (Internet) and access your favorite web sites, entertainment services and other web applications.

How does it work?

GPRS is packet based, wherein GPRS data is handled as a series of "packets" that can be routed over several paths through the network, rather than as a continuous bit-stream over a dedicated dial-up connection. With GPRS, the information is split into separate but related "packets" before being transmitted and reassembled at the receiving end. The Internet itself is an example of a packet data network, the most famous of many such network types.

In second-generation mobile networks, calls are handled using traditional circuit-switching technology. A dedicated "circuit", or "timeslot", is allocated between two points for the duration of a call. No other phone can use this circuit during the call, regardless of whether any data is being transmitted or not.

The GPRS standard is delivered in a very elegant manner - with network operators needing only to add a couple of new infrastructure nodes and making a software upgrade to some existing GSM network elements.

Features

a) Internet on the Mobile : For the first time, GPRS fully enables Mobile Internet functionality by allowing interworking between the existing Internet and a new GPRS network. Any service that is used over the fixed Internet today- File Transfer Protocol (FTP), web browsing, chat, email, telnet- will be as available over the mobile network because of GPRS

Because it uses the same protocols, the GPRS network can be viewed as a sub-network of the Internet with GPRS capable mobile phones being viewed as mobile hosts. This means that each GPRS terminal can potentially have its own IP address and will be addressable as such.

b) Rich Media Applications : GPRS facilitates several new applications that have not previously been available over GSM networks due to the limitations in speed of Circuit Switched Data (9.6 kbps) and message length of the Short Message Service (160 characters). GPRS will fully enable the Internet applications you are used to on your desktop, from web browsing to chat over the mobile network. Other new applications for GPRS, profiled later, include file transfer and home automation- the ability to remotely access and control in-house appliances and machines.

c) Speed : GPRS allows large amounts of data to be sent over mobile networks at speeds three to four times greater than conventional GSM systems. Theoretical maximum speeds of up to 171.2 kilobits per second (kbps) are achievable with GPRS using all eight timeslots at the same time. This is about three to four times as fast as the data transmission speeds possible over today's fixed telecommunications networks and ten times as fast as current Circuit Switched Data services on GSM networks. By allowing information to be transmitted more quickly, immediately and efficiently across the mobile network, GPRS may well be a relatively less costly mobile data service compared to SMS and Circuit Switched Data

d) Always On : GPRS facilitates instant connections whereby information can be sent or received immediately as the need arises, subject to radio coverage. No dial-up modem connection is necessary. This is why GPRS users are sometimes referred to be as being "always connected". Immediacy is one of the advantages of GPRS (and SMS) when compared to Circuit Switched Data. High immediacy is a very important feature for time critical applications such as remote credit card authorization where it would be unacceptable to keep the customer waiting for even thirty extra seconds.

Share Market Trading Secrets I

8 reasons why stock market traders lose money

Many people think trading is the simplest way of making money in the stock market. Far from it; I believe it is the easiest way of losing money. There is an old Wall Street adage, that "the easiest way of making a small fortune in the markets is having a large fortune." I discuss below eight ways of undisciplined trading which lead to losses. Guard against them, or the market will wipe you out. I am qualified to speak on this subject because I was myself an undisciplined trader for a long time and the market hammered me into line and forced me to change my approach. 1. Trading during the first half-hour of the session The first half-hour of the trading day is driven by emotion, affected by overnight movements in the global markets, and hangover of the previous day's trading. Also, this is the period used by the market to entice novice traders into taking a position which might be contrary to the real trend which emerges only later in the day. Most experienced traders simply watch the markets for the first half of the day for intraday patterns and any subsequent trading breakouts. 2. Failing to hear the market's message Personally, I try to hear the message of the markets and then try to confirm it with the charts. During the trading day, I like to watch if the market is able to hold certain levels or not. I like to go long around the end of the day if supported by patterns, and if the prices are consistently holding on to higher levels. I like to go short if the market is giving up higher levels, unable to sustain them and the patterns support a down move of the market. This technique is called tape watching and all full-time traders practice it in some shape or form. If the markets are choppy and oscillate within a small range, then the market's message is to keep out. Hearing the message of the market can be particularly important in times of significant news. The market generally reacts in a fashion contrary to most peoples' expectation. Let us consider two recent Indian events of significance. One was the Gujarat earthquake that took place on 26 January 2001 and the other the 13 December 2001 terrorist attack on the Indian parliament. Both these events appeared catastrophic at first glance. TV channels suggested that the earthquake would devastate the country's economy because Gujarat has the largest number of investors and their confidence would be shattered, making the stock market plunge. Tragic as both the events were, the market reacted in a different way to each by the end of the day. In both cases the markets plunged around 170 points when it opened, in both cases it tried to recover and while it managed a full recovery in the case of the Gujarat earthquake, it could not do so in the Parliament attack case. The market was proven correct on both counts. The Gujarat earthquake actually held the possibility of boosting the economy as reconstruction had to be taken up, and also because most of the big installations, including the Jamnagar Refinery, escaped damage. In the case of the attack on parliament, although traders assessed that terrorist attacks were nothing new in the country but the market did not recover because it could see some kind of military build-up ahead from both India and Pakistan. And markets hate war and uncertainty. In both these cases what helped the cause of the traders were the charts. If the charts say that the market is acting in a certain way, go ahead and accept it. The market is right all the time. This is probably even truer than the more common wisdom about the customer being the king. If you can accept the market as king, you will end up as a very rich trader, indeed. Herein lies one reason why people who think they are very educated and smart often get trashed by the market because this market doesn't care who you are and it's certainly not there to help you. So expect no mercy from it; in fact, think of it as something that is there to take away your money, unless you take steps to protect yourself. 3. Ignoring which phase the market is in It is important to know what phase the market is in -- whether it's in a trending or a trading phase. In a trending phase, you go and buy/sell breakouts, but in a trading phase you buy weakness and sell strength. Traders who do not understand the mood of the market often end up using the wrong indicators in the wrong market conditions. This is an area where humility comes in. Trading in the market is like blind man walking with the help of a stick. You need to be extremely flexible in changing positions and in trying to develop a feel for the market. This feel is then backed by the various technical indicators in confirming the phase of the market. Undisciplined traders, driven by their ego, often ignore the phase the market is in. 4. Failing to reduce position size when warranted Traders should be flexible in reducing their position size whenever the market is not giving clear signals. For example, if you take an average position of 3,000 shares in Nifty futures, you should be ready to reduce it to 1,000 shares. This can happen either when trading counter trend or when the market is not displaying a strong trend. Your exposure to the market should depend on the market's mood at any given point in the market. You should book partial profits as soon as the trade starts earning two to three times the average risk taken. 5. Failing to treat every trade as just another trade Undisciplined traders often think that a particular situation is sure to give profits and sometimes take risk several times their normal level. This can lead to a heavy drawdown as such situations often do not work out. Every trade is just another trade and only normal profits should be expected every time. Supernormal profits are a bonus when they -- rarely! -- occur but should not be expected. The risk should not be increased unless your account equity grows enough to service that risk. 6. Over-eagerness in booking profits Profits in any trading account are often skewed to only a few trades. Traders should not be over-eager to book profits so long the market is acting right. Most traders tend to book profits too early in order to enjoy the winning feeling, thereby letting go substantial trends even when they have got a good entry into the market. If at all, profit booking should be done in stages, always keeping some position open to take advantage of the rest of the move. Remember trading should consist of small profits, small losses, and big profits. Big losses are what must be avoided. The purpose of trading should be to get a position substantially into money, and then maintain trailing stop losses to protect profits. Most trading is breakeven trading. Accounts sizes and income from trading are enhanced only when you make eight to ten times your risk. If you can make this happens once a month or even once in two months, you would be fine. The important point here is to not get shaken by the daily noise of the market and to see the market through to its logical target. Remember, most money is made not by brilliant entries but by sitting on profitable positions long enough. It's boring to do nothing once a position is taken but the maturity of a trader is known not by the number of trades he makes but the amount of time he sits on profitable trades and hence the quantum of profits that he generates. 7. Trading for emotional highs Trading is an expensive place to get emotional excitement or to be treated as an adventure sport. Traders need to keep a high degree of emotional balance to trade successfully. If you are stressed because of some unrelated events, there is no need to add trading stress to it. Trading should be avoided in periods of high emotional stress. 8. Failing to realise that trading decisions are not about consensus building Our training since childhood often hampers the behaviour necessary for successful trading. We are always taught that whenever we take a decision, we should consult a number of people, and then do what the majority thinks is right. The truth of this market is that it never does what the majority thinks it will do. Trading is a loner's job. Traders should not talk to a lot of people during trading hours. They can talk to experienced traders after market hours but more on methodology than on what the other trader thinks about the market. If a trader has to ask someone else about his trade then he should not be in it. Traders should constantly try to improve their trading skills and by trading skills I mean not only charting skills but also position sizing and money management skills. Successful traders recognise that money cannot be made equally easily all the time in the market. They back off for a while if the market is too volatile or choppy.

Excerpt from: How to Make Money Trading Derivatives by Ashwani Gujral.

NTFS vs FAT

Criteria	NTFS5	NTFS	FAT32	FAT16	FAT12
Operting System	Windows 2000 Windows XP Windows 2003 Server	Windows NT Windows 2000 Windows XP Windows 2003 Server	DOS v7 and higher Windows 98 Windows ME Windows 2000 Windows XP	DOS All versions of Microsoft Windows	DOS All versions of Microsoft Windows
Limitations
Max Volume Size	2TB	2TB	32GB for all OS. 2TB for some OS	2GB for all OS. 4GB for some OS	16MB
Max Files on Volume	Nearly Unlimited	Nearly Unlimited	4194304	65536
Max File Size	Limit Only by Volume Size	Limit Only by Volume Size	4GB minus 2 Bytes	2GB (Limit Only by Volume Size)	16MB (Limit Only by Volume Size)
Max Clusters Number	Nearly Unlimited	Nearly Unlimited	4177918	65520	4080
Max File Name Length	Up to 255	Up to 255	Up to 255	Standard - 8.3 Extended - up to 255	Up to 254
File System Features
Unicode File Names	Unicode Character Set	Unicode Character Set	System Character Set	System Character Set	System Character Set
System Records Mirror	MFT Mirror File	MFT Mirror File	Second Copy of FAT	Second Copy of FAT	Second Copy of FAT
Boot Sector Location	First and Last Sectors	First and Last Sectors	First Sector and Copy in Sector #6	First Sector	First Sector
File Attributes	Standard and Custom	Standard and Custom	Standard Set	Standard Set	Standard Set
Alternate Streams	Yes	Yes	No	No	No
Compression	Yes	Yes	No	No	No
Encryption	Yes	No	No	No	No
Object Permissions	Yes	Yes	No	No	No
Disk Quotas	Yes	No	No	No	No
Sparse Files	Yes	No	No	No	No
Reparse Points	Yes	No	No	No	No
Volume Mount Points	Yes	No	No	No	No
Overall Performance
Built-In Security	Yes	Yes	No	No	No
Recoverability	Yes	Yes	No	No	No
Performance	Low on small volumes High on Large	Low on small volumes High on Large	High on small volumes Low on large	Highest on small volumes Low on large	High
Disk Space Economy	Max	Max	Average	Minimal on large volumes	Max
Fault Tolerance	Max	Max	Minimal	Average	Average

How to Remove Windows Genuine Advantage Notifications

Windows genuine advantage notifications occur when your computer hasn't passed the validation test. The validation test can be failed due to being sold a pirated (non-genuine) copy of XP, or because you have changed your XP product key to a software-generated key, or sometimes it just happens for no reason at all. The failed validation installs three types of notifications on your computer: one on the log in screen, one log in timer, and one balloon. It also stops updates from Microsoft and disables your ability to install IE7 and Windows Media Player 11. This solution can get rid of all three notifications, even though you will still not be able to update through Windows Update. You will not be able to download things from Microsoft that requires a valid license either.

Steps

1. If you have only just installed Windows Genuine Advantage notifications, simply using the system restore function will remove the program. Then refuse to accept the WGA update next time Windows updates... Otherwise, proceed as detailed below. (NOTE: If you try these steps while you are in "Safe Mode," step #8 is unnecessary).
2. Open System32 by either A or B of the following methods:
   
   
   • a)
     
     Click "Start", "Run", then type-in "System32". Click "Okay".
   • b) Find System32 manually by clicking "Start" > "My Computer" > "(X:)" (Replacing "X" with the drive letter of the host of Windows) > "Windows" > "System32".
     
     
3. In "System32", go to "Tools" > "Folder options" > click on the tab, "View" > Uncheck "Hide extensions for known file types". Now you can begin...
4. Check to make sure the window that comes up has a full screen of various files. The files are in alphabetical order, which makes it easier to locate the specific file.
5. 
   Find "WgaLogon.dll" and rename it "WgaLogon.dll.bak".
6. Create an empty copy of WgaLogon.dll:
   
   
   • 
     Right click on a blank space in System32 and select "New" > "Text Document".
   • Leave the text document empty and label it "WgaLogon.dll". Press Enter (on your keyboard).
   • 
     You may get a warning from the above step that says, "If you change a file name extension, the file may become unusable. Are you sure you want to change it?". Click "Yes" on this warning.
7. Be ready to complete the next two steps very quickly! Find "WgaTray.exe" in "System32" and delete it. You will then have 5 seconds to find "WgaTray.exe" in the Task Manager (the next step). NOTE: If you remove the files mentioned above while you are in "Safe Mode," step #8 is unnecessary.
8. 
   Immediately open Task Manager. You can do this by pressing the Ctrl, Shift, and Esc keys simultaneously, pressing the Ctrl, Alt, and Delete keys simultaneously, or right clicking the Taskbar and selecting "Task Manager". Click on the process tab and click end process when "WgaTray.exe" is selected. Note: If you take longer, do NOT panic! All that will happen is that "WgaTray.exe" will keep reapearing in the processes list (i.e. you won't be able to delete it as required). To remove the notifications after this, return to system32. You will find two files:"WgaLogon.dll.bak" (the one you renamed) and an Application Extension (0KB) called "WgaLogon.dll". Delete the Application Extension, rename "WgaLogon.dll.bak" to "WgaLogon.dll" and repeat the steps from the fifth one onwards (at a greater speed!!).
9. Restart your computer once you have finished. All the notification messages should be gone.