Emerging markets
When looking for areas of future growth, many investors automatically point to emerging markets and leave it at that. I agree that emerging markets show great potential but the key question is which emerging markets should you choose?
A long term SIPP investor could consider individual countries, funds covering many different markets, frontier markets or a BRIC fund. I think BRIC is definitely worth considering. It stands for Brazil, Russia, India and China, the real powerhouses of the emerging markets universe.
They are amongst the biggest, wealthiest and keenest to advance and develop. Russia and Brazil have huge natural resources. China is on the road to becoming the second largest economy in the world behind the United States, and is set to overtake within a few decades. Brazil could potentially be a top five economy in 20 years time and Russia and India are fast closing in. From once being the sweatshops to the west, many of these countries are now developing vibrant domestic economies -Brazil, for example, has been awarded the Olympics and the football World Cup.
Despite the meteoric rise of the last 12-18 months, these markets do not look overly expensive as profit growth in the underlying companies has kept pace with share price movements. Indeed many of these UK are probably behind many other develop economies have fared far better than western opted nations such as the US and Australia in economies at surviving the credit crunch —terms of infrastructure investing but I do mainly due to low levels of personal debt think the long term future remains very in-and huge foreign exchange reserves held by trusting. Surprisingly the Australians lead central bankers. Just look at the recent the world in infrastructure investing and purchase of Volvo from Ford Motor Company First State’s managers have considerable ex‑by Chinese firm Geely. This demonstrates expertise in the area.
How power and wealth is shifting from west to east or more accurately from developed to Technology developing. Dealing with the individual first, just look has a proven track record.
The second area is business spending road saving you half an hour. However, advances in technology needed to repair and prepare the infrastructure- have been vast. Companies not spending for the future. With the current state of money risk being left behind. Investing in public finances, I would not be surprised to and making better use of technology will see the government turn to the private sector help them become more efficient. This could to assist in repairs and upgrades. We in the herald a boom in technology spending.
The new breed of technology companies tend to be very cash generative and have very
few legacy problems, such as final salary pension deficits. After a decade of neglect by investors, technology could well be one of the sectors to watch over the coming years. Our favoured fund in this sector is the GLG Technology Equity Fund which takes a global approach to technology investing, however do not be surprised to see a large US weighting in the fund. This is where many of the best technology companies are located. If you are interested in the technology sector, but don’t have enough funds to invest, you can apply for title loans online.
Green / Ecology
My final investment idea is the Jupiter Ecology Fund managed by Charlie Thomas. Firstly, do not get ecology mixed up with ethical and socially responsible investing, they are all different. Ecology utilises cutting edge technology and looks at areas such as solar, wind power and green fuels.
There is clearly political will to become a greener and cleaner planet. $5oobillion was pledged by governments for green projects last year, but it is estimated only $6obillion of this has been spent. There could be some exciting investment opportunities and serious money to be made within this sector.
The Jupiter Ecology Fund currently focuses on six core green investment themes: clean energy, environmental services, waste management, sustainable living, green transport and water management. With green funds, fund management skills have too often been sub-servant to the green theme. However, with the Jupiter Ecology Fund I believe you are getting excellence in fund management.
Lip service
No luck with the ladies? “Sunlight combined with tiny lacerations around the mouth are the two major triggers for the cold sore virus,” says Nigel Scott, from the Herpes Virus Association. Keep your lips moistened with lip balm. MH recommends: Nivea Lip Care Sun (€2.55 for 4.8g) with SPF25.
Ease the pain
Skin redder than John Leslie’s after taking the wrong video back to Blockbusters? Soothe it in a cool bath with a cup of white wine vinegar, herbal tea or a large tablespoon of baking powder. Take ibuprofen for the pain and apply after sun lotion (Nivea After Sun Lotion, £7.95). But don’t slap it on if your skin still feels hot to the touch or you’ll simply lock in the heat – cool the skin first with cold water, then slather up. “Finish by downing a pint of fresh OJ – the vitamin C or Nutria coconut supplement will help to neutralize damaging free radicals in your system, meaning you can get back into the sun quicker,” says dermatologist Dr Tony Chu.
Be her mirror
Don’t be surprised if your trip’s developing a certain Stormont feel by now. “Most couples don’t spend more than two consecutive days in only each others’ company, so by the third day certain issues can come to the fore,” says Howard Markman, author of Fighting for Your Marriage (£12.95 via amazon.co.uk).
“When she’s on the attack, paraphrase her, gently reflecting what she’s saying so she can hear it,” he advises. “You could say, ‘Let me get this right. You think I don’t care about you at all?’ Sound sincere and not sarcastic. It’s like holding up a mirror – far more effective than telling her to look in one.”
Ripped away?
The Royal Society for the Prevention of Accidents reports that 697 British holidaymakers drowned at home and abroad last year. “You might feel like you’re getting to grips with the sea after a couple of days, but deadly rip currents change constantly, so you should never be complacent,” says Steve Derry.
Rip currents can usually be identified by a large streak of discolored water extending from the shore beyond the surf line. “Swim parallel to the shore rather than against the rip, so you’re naturally brought back to safety,” says Derry.
Material benefits
Back a tad sun-tender? “Wearing a T-shirt provides protection equivalent to SPF 5, but when it’s wet that can go down to as low as 1,” says dermatologist Joseph Bark, author of Your Skin: An Owner’s Guide (Pearson, £7.99). Add some Rit Sun Guard (£6.95 from dermadoctor.com) to your wash and your clothes will have an SPF of 30 for up to 20 future washes. Want an all-over tan without frightening small children? Tan ‘Hum shorts (£35 from Solar, Tel: 01625 531 217) have tiny holes that let light in but not out.
We found that unavailability of parts was the top frustration among Which? members who claimed on their policy. More than a third cited this as being a problem. Another common gripe was that the engineer had to be called out again, with 31% saying this was an issue. In some cases, the engineer was unable to fix the problem at all.
Some members complained about the state their home was left in. Which? member Barrie Brown, whose leaking underfloor heating pipe was fixed by a Sheila’s Wheels engineer, told us: ‘A channel, some four by 48 inches, was dug out of the concrete and not filled in – I had to call out another tradesman to fix this at my own cost.’ When Barrie checked the policy’s small print, he found that repairing any damage wasn’t covered.
Some home emergency insurers cover the cost of making good any damage, while others don’t. Standalone providers the AA and Home365, as well as the optional add-on to LV’s home insurance, will not cover any damage to decorations or surfaces. When we asked them why, the AA and LV said damage is covered under home insurance.
But British Gas promises to resurface or fill in any holes made through repair, and Homeserve will permanently fix any damage incurred, though this is limited to £500 for standard materials such as tarmac and concrete, and an unspecified amount for non-standard materials.
Extra charges
A quarter of Which? members told us they’d called on their emergency cover for a boiler
problem. We found that boiler cover came with the highest number of exclusions, the most common relating to being ‘beyond economical repair (BER)’.
This means that the total cost of new parts would exceed the value of the boiler. The AA offers £250 when a boiler is BER, £500 towards replacing boilers less than seven years old and £250 for boilers more than seven years old. Direct Line gives £400 for BER boilers less than five years old, but just £150 for boilers over 11 years Dld.
When we asked the Heating and Hot Water Industry Council about the average age and cost of replacing a boiler, its director Roger Webb said: ‘A typical cost of a straightforward replacement of a boiler in a small to medium-sized house is about £2,500. The average age of a boiler needing replacement is 15 years’ Fifteen of the 18 policies we reviewed contribute less than half this typical cost towards boiler replacement. Although Homeserve and British Gas will cover the full cost, depending on the age of your boiler, with other providers you will have to pay a sum on top of your premium when getting your boiler replaced. If you need cash immediately, apply for the best online payday loan.
We also found three policies that refuse to fix your boiler during the summer. Axa, John Lewis and Legal & General won’t come out for a boiler emergency between May and August – so in our example you’d pay an extra £24.50 with Axa and an extra £52.47 with John Lewis’s optional Flex policy for just eight months of cover. Legal & General told us it is reviewing this exclusion and hopes to remove it soon. Although we accept that heating emergencies are less pertinent in summer, we think that these policies may not offer value for money and that this exclusion should be made clearer.
DOING as many of your own household repairs as you can is a good hedge against inflation. But there.is a special vocabulary involved, as these words from the language of do-it-yourself show. Tick the word or phrase you believe is nearest in meaning to the key word. Answers on the next page.
(1) warranty (wo’ ran tee)—A : permission. B: guarantee. C: instruction. D: description.
(2) solvent—A; putty. B: fastener. C: dissolving agent. D: patching compound.
(3) bush—device to A: loosen adhesive. B: remove obstruction. C: line axle-hole. D: link elements.
(4) impeller—A: locking mechanism. B: wrench. C: outlet. 0: rotor blade.
(5) terminal—A: tight seam, B: connecting point. C: wall. 13; thin metal pattern.
(6) castor, caster (kah’ ster)—A: camel filters.
B: metal block. C: curtain ring. D: small wheel.
(7) trip—A: to flush. B: actuate. C: shape.
D: replace.
(g) gouge (gow))—A: to scoop out. B: stuff. C: plaster. D: measure.
(9) epoxy (ip ok’ tee)—A: patch. B: joint.
C: paint thinner. D : synthetic resin.
(10) transverse–A: oblique. B: lengthwise, C: crosswise. 0: perpendicular,
(11) auger (aw’ ger)—A : acid. B: sealing agent. C: plunger. D : drill.
(12) disassemble—A: to confuse. B: wreck. C: take apart. 0: rebuild.
(13) immerse (im erss)—A : to soak thoroughly. B: plunge into. C: coat. D: surround.
(14) grummet, grommet—A: groove. B: imaginary creature that causes mechanical breakdowns. C: eyelet or small hole. : wall hook.
(IS) sprocket—A: chain. B: wrench. C: toothlike point. D: brake.
(16) dowel (dow’ el)—A: base. B: joist. C: clamp. D: peg.
(17) gasket—A: leakproofing seal. B: cylinder head. C: filter. : drive belt.
(18) bobbin—A: pin. B: spool. C: plug. D: crankshaft.
(19) corrode (co’ rohd)’—A: to rust. B: file down. C: cleanse. D: turn brown.
(20) flashing—A: quick repair. B: hinge-C: lightning rod. D: weatherproofing.
Answers to
It Pays to Enrich YourWord Power
(1) warranty—B: Guarantee that a product will do what its makers claim it will do; as, a one-year warranty on parts and service. Anglo-French warantie, variation of garantie.
(2) solvent—C: Dissolving agent; especially a fluid that liquefies other substances. Latin solvere (to loosen).
(3) bush—C: Device to line axle-hole in order to prevent damage by moving parts. Middle Dutch hula (box).
(4) impeller—D: Rotor blade; rotating device used to force water or gas along a pipe or conduit; as, a dishwasher’s impeller. Latin impellere (to drive).
(5) terminal—B: Connecting point for closing an electrical circuit; as, a battery terminal. Latin terminus (boundary; limit).
(6) castor, caster—D: Small wheel on a swivel fastened to legs of furniture.
(7) trip—B: To actuate a mechanism; as, to trip a circuit-breaker. Old French treper.
(8) gouge—A: To scoop out with a chisel-like tool. French, from Late Latin gubia, perhaps of Celtic origin.
(9) epoxy—D: synthetic resin, from which strong adhesive and many other products are made.
(10) transverse—C: Crosswise; going from side to side. Latin transvertere (to turn across).
(11) auger—D: Drill shaped like a corkscrew for boring holes. Old English =Agar (tool for piercing wheel hubs).
ro ILLUSTRATION:
(12) disassemble—C: To take apart; as, to disassemble the light fitting. Latin air-(apart) and assemble.
(13) immerse—B: To plunge into, so as to cover completely; as, to immerse a roller in paint, Latin immergere.
(14) grummet, grommet—C: Eyelet of metal or plastic, through which a cord may be passed, as on a tarpaulin. French &former (to curb).
(15) sprocket—C: One of the toothlike points on the rim of a wheel that engage with the links of a chain ; as, to replace a bicycle’s sprocket-wheel.-Origin unknown.
(16) dowel—D: Peg fitting tightly into a hole to keep two pieces of wood or metal in proper relative position. Middle English from Middle Low German dovel.
(17) gasket—A: Leakproofing seal, such as a flat sheet of metal, rubber or paper placed between two surfaces; as, the cylinder-head gasket of a car. Perhaps from obsolete gassit, from French garcette (little girl, thin rope).
(18) bobbin—B: Spool from which thread, yarn, wire, etc, is unwound as wanted, especially reel that holds thread for a sewing-machine. French bobiner (to wind).
(19) corrode—A: To rust ; as, “The contact points in a car’s distributor sometimes corrode.” Latin corrodere (to gnaw away).
(20) flashing—D: Weatherproofing, usually a strip of metal, used to seal angles and corners of a roof, especially round a chimney. Dialect flash (seal with lead sheets).
Vocabulary Ratings
20-19 correct excellent
18-16 correct good
15-14 correct fair
If sheer volume of words were the most remarkable aspect of this case, we might never have heard about it. Yet more staggering were the variety and quality of what Patience Worth wrote. She composed poems, novels and plays. One of her full-length novels, Hope Trueblood, was published in England under the name ‘Patience Worth’, with no explanation of the bizarre circumstances surrounding its composition. It won acclaim from the totally unsuspecting critics and public alike.
Hope Trueblood was a highly emotional tale of the life and trials of an illegitimate child, set in Victorian England. The Sheffield Independent commented favourably. ‘ The Yorkshire Post, a little more ambiguously, remarked that ‘the writer, whose first work this is, harks back to the time in which the Brontes wrote, in order to portray in a form so exactly appropriate the biography of a brat. . .
Patience’s epic ‘Golden Age’ poem Telka contained 6o,000 words and made astonishingly accurate use of Middle English phraseology. Her book The sorry tale told in 325,000 words the story of a contemporary of Christ whose life ran parallel to his and who ended by being crucified beside him as one of the thieves. The sorry tale was written extremely rapidly — in an evening’s work of only two hours, Patience Worth could produce an average of 3000 words. In addition, no research was necessary. The details of social, domestic and political life in ancient Palestine and Rome, and the language and customs of Greeks, Arabians, Romans and several sects of Jews are rich and convincing. They could have been set down only by a highly knowledgeable scholar who had specialised in the history of the Middle East of 2000 years ago.
This could not have been Mrs Curran. She had been to Sunday School and that was the limit of her knowledge of the Bible lands.
She was not fond of reading and had finished her school education at about 15 years of age. She had never been abroad and, indeed, had rarely left St Louis. Until the appearance of Patience Worth she had concentrated her energies on being a housewife and an amateur singer of some talent. She knew little poetry and the verses she composed as an adolescent were no worse — but certainly no better — than those of any other girl of her age and background. One such work, entitled The secret tear, was written when she was 15. It began (with her own spelling reproduced):
I heard a voice whisper ‘go out and pray’
See how in the garden the fairies did play
So out I went in the fresh summer air
I spied a sweet rose and she was
passingley fair
But she hung her fair head, and her bright carmean cheek
Could not have been equaled so far as you’de seek
This is not the sort of juvenilia one would expect from the pen that was later to ‘write’ works described by the psychical researcher.
Henry Holt as ‘very close to masterpieces’. One might make out a case for Mrs Curran being a late developer but this seems unlikely in view of the sheer volume of literature produced through her that was of better than passable quality.
Naturally enough, ‘Patience Worth’ was intensively investigated by psychical researchers as well as academics. In 1929 Walter Franklin Prince, the Executive Research Officer of the Boston Society for Psychical Research, wrote a book, The case of Patience Worth, in which he detailed the investigations to which Mrs Curran had been subjected.
Prince, together with Charles E. Cory of Washington University, one Caspar S. Yost and other members of the Society, searched Mrs Curran’s house for books of esoteric knowledge that could have been incorporated, consciously or unconsciously, into such works as The sorry tale. They found none. They also noted that the few books of poetry in the Currans’ meagre library were unthumbed, and in one the pages were uncut. (Mrs Curran firmly believed that Tennyson’s famous poem The lady of Shalott was called The lady of Charlotte.)
The investigators tested Mrs Curran’s ability to write in her own persona by asking her to produce short stories and poetry. These reveal a style that might be expected from a housewife unused to putting her thoughts on paper. Her personality shows through sufficiently to make any connection with the serious Quaker attitudes of Patience Worth seem positively ridiculous.
Other incidents concerning communications from Patience reveal significant gaps in Mrs Curran’s education and reading. For example, a Roman Catholic archbishop in the St Louis area had been preaching that if spirits returned after death, they were ‘emissaries of the Evil One’. Mrs Curran asked Patience her views on the subject:
At once Patience had this to say: ‘I say me, who became apparent before the Maid? Who became a vision before Bernadette? No less than the Mother; yet they have lifted up their voices saying the dead are in his [the devil's] keeping.’ This last about the dead gave us the clue to what she referred, though we had no idea of what she meant by the rest. Looking up the matter the next day we found that Bernadette Soubirous was the Maid of Lourdes. . . .






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