Friday, January 27, 2012

AP Exclusive: New taste for Thai elephant meat

FILE - In this Monday, Oct. 31, 2011 file photo, elephants are fed with fresh sugarcanes at the elephant camp in Ayutthaya province, central Thailand. Thailand's revered national symbol, the elephant, may face a new threat of extinction: being poached not just for their tusks, but for their meat. Two wild elephants were found slaughtered in December 2011 in a national park in western Thailand, alerting authorities to the new practice of consuming elephant meat. (AP Photo/Apichart Weerawong, File)

FILE - In this Monday, Oct. 31, 2011 file photo, elephants are fed with fresh sugarcanes at the elephant camp in Ayutthaya province, central Thailand. Thailand's revered national symbol, the elephant, may face a new threat of extinction: being poached not just for their tusks, but for their meat. Two wild elephants were found slaughtered in December 2011 in a national park in western Thailand, alerting authorities to the new practice of consuming elephant meat. (AP Photo/Apichart Weerawong, File)

(AP) ? A new taste for eating elephant meat ? everything from trunks to sex organs ? has emerged in Thailand and could pose a new threat to the survival of the species.

Wildlife officials told The Associated Press that they were alerted to the practice after finding two elephants slaughtered last month in a national park in western Thailand.

"The poachers took away the elephants' sex organs and trunks ... for human consumption," Damrong Phidet, director-general of Thailand's wildlife agency, said in a telephone interview. Some meat was to be consumed without cooking, like "elephant sashimi," he said.

Poachers typically just remove tusks, which are most commonly found on Asian male elephants and fetch thousands of dollars on the black market. A market for elephant meat, however, could lead to killing of the wider elephant population, Damrong said.

"If you keep hunting elephants for this, then they'll become extinct," he said.

Consuming elephant meat is not common in Thailand, but some Asian cultures believe consuming animals' reproductive organs can boost sexual prowess.

Damrong said the elephant meat was ordered by restaurants in Phuket, a popular travel destination in the country's south. It wasn't clear if the diners were foreigners.

The accusation drew a quick rebuttal from Phuket Governor Tri Akradecha, who told Thai media that he had never heard of such restaurants but ordered officials to look into the matter.

Poaching elephants is banned, and trafficking or possessing poached animal parts also is illegal. Elephant tusks are sought in the illegal ivory trade, and baby wild elephants are sometimes poached to be trained for talent shows.

"The situation has come to a crisis point. The longer we allow these cruel acts to happen, the sooner they will become extinct," Damrong said.

The quest for ivory remains the top reason poachers kill elephants in Thailand, other environmentalists say.

Soraida Salwala, the founder of Friends of the Asian Elephant foundation, said a full grown pair of tusks could be sold from 1 million to 2 million baht ($31,600 to $63,300), while the estimated value of an elephant's penis is more than 30,000 baht ($950).

"There's only a handful of people who like to eat elephant meat, but once there's demand, poachers will find it hard to resist the big money," she cautioned.

Thailand has fewer than 3,000 wild elephants and about 4,000 domesticated elephants, according to the National Parks, Wildlife and Plant Conservation Department.

The pachyderms were a mainstay of the logging industry in the northern and western parts of the country until logging contracts were revoked in the late 1980s.

Domesticated animals today are used mainly for heavy lifting and entertainment.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/3d281c11a96b4ad082fe88aa0db04305/Article_2012-01-26-AS-Thailand-Elephants/id-42f334b0e6134b398aec4cdb5a5afc5c

bohemian grove amazing race showtime the prisoner the prisoner gene simmons my bloody valentine

Thursday, January 26, 2012

Dan Solin: Dirty Tricks Brokers Use to Get Your Business

Brokers and advisors like to describe their activities in terms indicating the benefits they bestow upon their clients. "Wealth manager" is one of my favorites, because it conveys the impression that using them is likely to increase your wealth. Using the wrong adviser can have the opposite effect. They can "manage" to transfer your wealth into their pockets.

I also find the titles bestowed on brokers interesting. They refer to themselves as "financial consultants" and "Vice-President." Mutual funds play the same game. "Absolute return fund" implies a fund that always has positive returns. According to an article in The Wall Street Journal, while most (but not all) of these funds posted positive returns in the 2008-2009 time frame, "many were lackluster in comparison with the index returns and just two funds outpaced the S&P 500's gains."

The clever name game is part of a larger strategy geared to get your business. It includes massive advertising (often using celebrities to enhance credibility), the availability of "trading programs" and niche marketing, like hosting seminars for women investors.

While these pitches for your business are fairly subtle, the gloves come off when brokers or advisers are competing for your business. It gets really ugly when one of the contenders is recommending an index based portfolio, which is what I believe should be the strategy followed by all investors. Here are some of the dirty tricks some brokers and advisers use to dissuade investors from index based investing:

Hiding Expenses

Since expenses are deducted from returns, it makes sense to be aware of the expenses of the funds in your portfolio. A study by Morningstar found the management fee charged by mutual funds (called "expense ratios") are "strong predictors" of performance.

It is important to understand wrap fees, transaction costs, adviser fees, brokerage commissions and account management fees when computing the real cost of your investments. Transaction costs are easy to hide. Ask for the "turnover ratio" of the funds you are considering. A high turnover means higher trading costs. Index funds typically have lower turnover ratios than actively managed funds.

To get an overall understanding of expenses, ask for the "weighted expense ratio" of the recommended investments.

Higher Taxes

The returns of actively managed funds are typically reported pre-tax, which can be very misleading. One study (discussed here) looked at the 10 year pre-tax and after-tax returns of index funds and actively managed funds. It found that, on an after-tax basis, index funds outperformed 86% of active mutual funds.

Ask for the after-tax returns of the recommend funds.

Misleading tilt

There is significant research supporting the value of tilting the stock portion of a portfolio towards small and value stocks. Tilting towards these riskier asset classes can increase expected returns, albeit with increased risk. However, there are periods of time when large and growth stocks outperform small and value. For example, in 2011, large cap stocks outperformed small cap stocks.

By tilting the stock portion of a portfolio towards the asset class that outperformed in the past year or two, advisers can make it appear they have the ability to increase returns in the future. Don't be fooled. If your adviser is recommending a tilt towards any asset class, ask to see long term data supporting this recommendation.

Using long term and lower quality bonds

By using long term (maturity dates more than 5 years) bonds, and bonds with ratings below investment grade, brokers and advisers can make it appear they are generating higher returns. Many investors don't understand these returns come with higher risk. Historically, according to research done by Dimensional Fund Advisors, long term bonds are more volatile than shorter term bonds, but have not provided consistently greater returns. The same research indicated that bonds lower in credit quality have earned higher returns, but there is a greater risk of default.

You would be better advised to limit your bond holdings to maturities of five years or less and to insist that all of these holdings be rated investment grade or higher. You can increase your expected return (and your risk) by allocating a greater portion of your portfolio to stocks, assuming that would be suitable for you.

Using short term returns

Short term data can be extremely misleading. Some brokers and advisers cherry pick funds for inclusion in a recommended portfolio that have impressive three year returns. The implied message is that these funds are likely to outperform in the future. You can find a discussion of the benefit of longer term data here.

You should insist on seeing at least a 10-year history of returns and preferably longer.

There's an old Chinese Proverb that says: "If you must play, decide upon three things at the start: the rules of the game, the stakes, and the quitting time."

You now know some of the rules of the game.

Dan Solin is a senior vice president of Index Funds Advisors. He is the New York Times bestselling author of The Smartest Investment Book You'll Ever Read, The Smartest 401(k) Book You'll Ever Read, The Smartest Retirement Book You'll Ever Read and The Smartest Portfolio You'll Ever Own. His new book, The Smartest Money Book You'll Ever Read, was published December 27, 2011.The views set forth in this blog are the opinions of the author alone and may not represent the views of any firm or entity with whom he is affiliated. The data, information, and content on this blog are for information, education, and non-commercial purposes only. Returns from index funds do not represent the performance of any investment advisory firm. The information on this blog does not involve the rendering of personalized investment advice and is limited to the dissemination of opinions on investing. No reader should construe these opinions as an offer of advisory services. Readers who require investment advice should retain the services of a competent investment professional. The information on this blog is not an offer to buy or sell, or a solicitation of any offer to buy or sell any securities or class of securities mentioned herein. Furthermore, the information on this blog should not be construed as an offer of advisory services. Please note that the author does not recommend specific securities nor is he responsible for comments made by persons posting on this blog.

?

?

?

Follow Dan Solin on Twitter: www.twitter.com/DanSolin

Source: http://www.huffingtonpost.com/dan-solin/dirty-tricks-advisors-use_b_1220607.html

power rangers jungle fury ufc 139 fight card houston nutt houston nutt peter marshall peter marshall zombie boy