Was Eliot Ness an Alcoholic?

We all know Eliot Ness as the famous prohibition agent who got Al Capone, but some biographical accounts of his life indicate that he ended up an alcoholic. There have been various fictionalized versions of Ness throughout the years, although none touched on a drinking problem.

According to his biographer, Paul Heimel, who wrote Eliot Ness The True Story, the prohibition agent was not an alcoholic, according to his friends. He did like going out for a drink now and then and frequented famous nightspots. The biography dismisses the rumors of his alcoholism as just that, rumors.

In 1942, Eliot Ness was involved in an accident in the early hours of the morning. It was said that alcohol was a factor in the incident, although never proven. No one was seriously injured in the accident, but the incident cost Ness his career in Cleveland.

In books like Chasing Eliot Ness, the prohibition agent is seen drinking scotch after scotch and appears to have a drinking problem, although alcoholism is the least of his troubles in this book. There are scattered reports all over the internet and whether it is true or not depends upon which biographical account you read about the man behind the Untouchables.

Books like Torso, Nemesis and Chasing Eliot Ness fictionalize Ness, but none as much as The Untouchables by Oscar Fraley. Supposedly a biography of the prohibition agent, Fraley admitted to making the entire story up, according to the biography by Heimel.

Was Eliot Ness an alcoholic or not? He is listed on certain sites as an alcoholic, but there is no one alive today to say for sure. In the 1940s, when the stories came out, it was common for men to drink a few scotches, even during the day. It also makes for a good story to say that someone who fought so hard to keep liquor from Chicago would turn into a drunk. The only one who knows for sure is long gone. We have only fictionalized accounts of his life.

He was, however, a ladies man, according to the biography. This is most likely where the author of Chasing Eliot Ness got her inspiration.

Matthew Arnold’s Concept of ‘Sweetness and Light’

Matthew Arnold is a well- known figure of Victorian Age. This era is very glorious in the history of England because of It’s an exemplary progress in all branches of life. This age is very popular by its material prosperity, political awakening, democratic reforms, industrial and mechanical progress, scientific development, social unrest etc. He remained pessimist in the age due to a conflict between religion and science. He wrote a book ‘Culture & Anarchy’ with a view to reviving the values which were like honey in ancient Greek. He checks the values of his own time by the light of that culture. His work ‘Culture & Anarchy’ is a collection of a few separate essays; they show his fighting and struggle against material affluence.

Here, we analyze his concept about ‘Sweetness &Light’. In this treatise, his central focus and argument is on curiosity. It is defined as a liberal and intelligent eagerness about the things of mind or mental activities. According to him, the natal place of curiosity is a desire. It is desires that make some body pursue. The work of desire is to see the things as they are. If it is pursued by an intelligent person with an impartial understanding of mind, it becomes praise worthy. It bears a genuine scientific passion that is the right kind of curiosity. Such curiosity leads us to real culture. So, beyond the man of culture is curiosity.

Matthew Arnold views about a social aspect of culture. It comes out from the love of neighbor. In other words, it can be said that this aspect of culture gets birth from the desire for removing human errors and diminishing human misery. It is a person of culture who works in the society for its betterment. Such desire sees the things as they are, and the man of culture works impartially with eagerness. So, it gives birth to sweetness and light. He calls it a real culture that inspires a person to lean the world better and happier than he found it. Indeed, it occupies a genuine scientific passion and a balance and instruction of mind to fight against the diseased inclination of mind.

The author goes to the origin of culture that lies in the love of perfection. In other words, it can be called that culture is a study of perfection. In it two dominant desires work in harmony__the scientific passion for pure knowledge and moral and social passion for doing well. The man of culture should have the pursuit of pure knowledge with impartial desire or passion and prevail it in society for diminishing human miseries. Such miseries can be diminished by prevailing sweetness and light that is the job of a man of culture or a man of pursuing perfection. Such job is easy for a man of culture.

Culture is inclined to real reason and the will of God to prevail. It consists of the study and the pursuit of perfection. The direct inspiration for man to desire for perfection comes from religion. Arnold calls religion’ the voice of the deepest of human experience’. All the voices of human experience are available in art, science, poetry, philosophy and history which a man of true culture listens with a distinguished attention. All the above fields make man perfect internally, or its aim is total human perfection. The out ward expression of culture is shown in the general sweet expansion of thoughts and feelings, rich in dignity, wealth and happiness of human nature. The culture brings internal as well as external perfection of human. It quits all partialities and errors of man. Partialities and errors make anarchy in society.

Arnold finds sincere and genuine connection between culture and the idea of sweetness and light. His ideal man of culture is a Greek man called Euphuasis. Arnold borrowed the phrase ‘sweetness and light’ from Swift. The character of a man of culture is moulded by religion and poetry. The aim of religion is to make man perfect ethically, where as the poetry possesses the idea of beauty and of human nature perfect on all its sides. Culture has the power to prevail peace and satisfaction by killing our bestiality and drawing nearer to the world of spirituality with perfection. Indeed, religion fails to lead us to such perfection. He describes about religious organizations of his time in England that they seem to have failed morally. He submits example of Puritanism that is based on the impulse of man towards moral development and self -conquest. This perfection leads to the idea or impulse of narrowness and insufficiency. He jumps to such conclusion by judging the religious organizations in terms of sweetness and light.

Culture has perfection that is free from all kinds of narrowness.it stands against all the mischief men who have blind faith in machinery. In his opinion, the pursuit of perfection is the pursuit of sweetness and light. He who works for sweetness works in the end for light also; he who works for light works in the end for sweetness also. Those who work united for sweetness and light, work to make the reason and the will of God to prevail. Culture looks beyond machinery___ social, political and economic, beyond population, wealth and industry, beyond middle class liberalism and avoids all kinds of narrowness and hatred. Culture has one great opinion, the passion for sweetness and light.

Arnold shows pleasure to insist on the arousing of his contemporaries in all spheres of creative activities in art, literature and life. He insists that the light of culture must guide this national re-awakening to sweetness and light. Culture works differently, and it does not work with ready- made judgment and watch words. Its appeal is not confined to any one peculiar class in society. It deals with the best self that has been thought and known in the world current everywhere. Culture implies itself to make all men to live in an atmosphere of sweetness and light, where they may use ideas as it uses them itself freely.

The great men of culture believe in equality and broad mindedness. They are possessed by a passion to spread culture from one end of society to the other. They carry the best knowledge and the best ideas of their times. It is the duty of these men to humanize knowledge, and therefore, it becomes the best knowledge and thought of the ages, and becomes a true source of sweetness and light. The great men of culture broaden the basis of life and intelligence and work powerfully to expand sweetness and light to make reason and the will of God to prevail.

Consequently, a man of culture is like a honey bee. The job of honey bee is to suck the juice from all flowers (sweet or sour) and to make honey. Honey is sweet and liked by all in all forms. Honey has wax that is not useless because the candles are made of it light. Hence, in the end of sweetness is light. In this way, a man of culture seeks knowledge from all departments and shares it to all. He is not narrow-minded because such knowledge brings perfection. So his pursuit of perfection is sweetness and light.

Real Time Currency Trading Systems – Your Tools to Make Millions in Forex Trading

Foreign exchange envelops currency trading in the sense that making a profit with this kind of investment works through buying a nation's currency while selling other currencies when a small increase / decrease in exchange rate happens.

It involves a certain amount of risk because it does not tolerate ignorant brokers who are not familiar or have little experience with real time currency trading systems. These trading systems are all about investments that favor increased analysis and accuracy.

Which is a ironic since many markets want to share their trades without examining their market policies prior to deals. This becomes very difficult and puts the market at stake. Hence, it is best to learn your currency trading systems.

Through currency trading, brokers widen their perspective in making investments because these systems often expose increased speculations on brokerage. This aids in gaining knowledge about budding investors and understand the intricacies of the market.

Furthermore, real time currency trading systems help predict the future of stocks, which are one of the most important aspects of forex trade. Why are stocks significant? These stocks greatly affect the profitability in terms of currency trading.

Because the Internet provides readily available information concerning market trade, many websites offer courses to beginners that would aid in learning currency trade. Courses about currency trade will provide basic terms and language utilized in forex market plus understanding of market basic principles.

After learning the basic terms, the broker can now open an account with the help of an expert broker. This market, which is open for 24 hours online, would help in attaining forex reserves and share market benefits.

Learning currency-trading systems is important in Foreign exchange, as it embodies high profits and good investments.

Artificial Intelligence Versus Human Intelligence

Today, many companies prefer to analyse their business situations through artificial intelligence rather than human intelligence alone. Though it is much debated whether working with AI in conjunction with HI is better than working with human intelligence alone or not, we are slowly progressing towards an era where the human intelligence is taking a back seat. Raymond Kurzweil, researcher, entrepreneur and pioneer of AI had predicted that the human intelligence would be surpassed by artificial intelligence by the 21st century.

Sharp HealthCare, a San Diego based company had in 2004 decided to hone its ability to analyse its clinical outcomes and care by AI. The organizations used PinPoint Quality from MedAI Inc to help them with the analysis. It has used the application for three years and has recently renewed its contract with them.

Now what exactly is artificial intelligence? Artificial Intelligence is building intelligent entities through computers in collaboration with human intelligence. It helps the company to understand HI better and can be used to test the theories of human intelligence by writing programs which can imitate the same. AI is being widely used in sectors like Banking, Health Care, Stock Market Trading, Robot Control and Telecommunication companies.

Artificial Intelligence is slowly changing the way people think and act and it is taking our mind to the next level. Today, most high security establishments depend on face recognition, finger prints or retina scan for unlocking doors to secured chambers or even computers over manual input of password. Very soon, it is estimated that we would completely do away with typing in passwords to unlock our personal computers but would rather use face recognition scanner at home. Hence, to sum it up, though to a large extent we are still dependent on HI for economic and social progress it is, this dependence, however, is steadily declining and with each passing day we are leaning more towards artificial intelligence not only at a macro level to help us develop socially and economically but also at a micro level to help us with our daily chores and tasks.

Review of Secrets of Millionaire Investor Book by Adam Khoo & Conrad Alvin Lim

Before this book, I had no idea about what were the true techniques to invest in the stock market. When I saw this book on the shelve of bookshops, I immediately turn its pages to check it’s content and was pleasantly surprised at the level of detail and coverage of investing in the stock market. Impressed with what I read, I bought it without hesitation.

After reading this book and applying some of the lessons taught, I can say that I am a better investor in the stock market now. Before, I was only a rookie. I will explain to you why.

This book teaches both the fundamental aspects of selecting stocks which Adam will show you. The technical aspects to trading is illustrated by Conrad who traded his way out of bankruptcy using very good strategies. He easily makes US$5000-US$7000 a month trading stocks and options. That can replace anybody’s salary anytime, won’t you agree? His record is US$22k++ in a single month.

One of the important concepts mentioned early in the book is to invest in the stock market and use the power of compounding. You can be an automatic millionaire by the time you retire using this technique. All you need is patience and some consistency in investing. This was how Warren Buffet became the richest man by investing in the US market and let his investment returns compound.

The rest of the book explains four strategies to grow your funds in the stock market depending on which level of an investor you are currently at with the returns and time horizon you are looking at.

The first growth strategy is the most basic level for novice investors which teaches you to achieve compounded returns of 10%-12.08% annually by buying the market or buying sectors or industries that are outperforming.

The second growth strategy shows you about value investing which can achieve you an annual return of 15%-25%. This method requires you to buy great companies at huge discount and sell them for a huge profit. Warren Buffet uses value investing to pick his stocks. You will learn the nine criteria of value investing to pick stocks that investors like Warren Buffet or George Soros would.

The third growth strategy explains to you about momentum investing which you can achieve a higher return of more than 25% at a shorter time like 3 to 6 months. This involves picking stocks that are about to increase in price significantly due to market optimism. Adam shows you seven steps to screen for this kind of stocks.

The last growth strategy is the most advanced of all, which allows you to net a handsome 100%-500% returns in one day to 3 months. This strategy involves the buying and selling of stock options which is trading. Trading allows you to make money in any direction, be it up, down or sideways. The authors have dedicated 2 chapters to explain the fundamentals of options and clearly illustrated with examples on a few commonly used strategies for reader.

I enjoyed this book very much as it was clearly written and provided a practical approach to investing and trading. This book has given me a good foundation as a beginner to prepare me for more advance strategies and implementation. I strongly recommend this book to anyone who wants to start investing or trade in any stock market and does not know how to start.

Return on Invested Capital (ROIC) – 4 Reasons to Use ROIC to Pick Profitable Stocks

Return on invested capital (ROIC) is one tool that value investors use to determine whether or not a company has a sustainable advantage over its competitors. Some investors call this sustainable competitive advantage a “moat”. Companies with a moat tend to dominate industry niches in which they operate, and the stock market tends to reward investors in these companies with higher stock prices as they grow within their market niche.

Return on Invested Capital (ROIC) = Net Operating Profit After Taxes (NOPAT) / Invested Capital Return on invested capital is a good way to screen for companies that may have a moat, because it measures how efficiently a company uses its available money to create the profit it generates. If a company has a large return on the capital it invests, especially when compared to its competitors, it is probably because the company has a more efficient way of producing its goods or services, or it can charge prices that allow it to earn more profit margin than its competitors. 

Here are 4 reasons that make return on invested capital an indicator you should use to screen for companies that may continue to achieve above average growth:

1)    Management efficiency – ROIC shows how well a management team generates operating profits vs. the amount of money they use to generate those gains

2)    Clarifies the Income Statement – Instead of just focusing on net income (the “E” in the P/E ratio), ROIC uses NOPAT instead, which removes items like investment income and interest expense (among others), which gives a much clearer picture of how much profit the company is actually generating as a result of its profit making operations

3)    By using investment capital instead of just equity or assets (like return on equity (ROE) or return on assets (ROA)), return on investment capital uses deployed equity AND debt capital, and removes cash that is just sitting in a bank account collecting interest instead of generating returns via the company’s operations

4)    Companies with a high return on invested capital within their industry are generally leaders, or emerging leaders, within their market niche. 

By using the ROIC formula shown above, you can prove what this article states with a quick visit to MSN money, and comparing the historic return on invested capital rankings of Google and Yahoo (you probably used one of these search engines to find this article). As you see the ROIC values for these two companies, and look at their relative stock price performance, you may find the results enlightening.

How to Trade the ZUP Indicator

When the ZUP pattern is properly identified, the trader can enter a high probability trade. The main advantage of this trade is the ability to set tight stop loss orders in case of pattern failure. As with any trading system, this pattern is best used in conjunction with other reinforcing indicators. Support, resistance, and pivot points would be an example of this.

This style of trading is sometimes referred to as Harmonic Trading. No trading systems work all of the time. A 70% win rate with a controlled risk makes this pattern based system an excellent trading system for many types of traders.This is a universal trading indicator and can be applied to any market. Stocks, Forex and futures are examples of these markets. This indicator is published and available to the MT-4 Forex trading platform.

This technical trading system is used by banks, trading syndicates, hedge funds, and nearly every trader at a professional level. Anyone with modest intelligence and a little discipline can trade this system. This indicator can be applied to various markets such as stocks and currencies.

I am not a software engineer. The signal software was developed by others. I am an experienced trader. There are no secret “holy grail” trading methods. Think about it. The more traders that use a system, the better it works! Of course the Central Banks will set a currency price at will. We can’t second guess the Central Banks but we do know when they trade and we can choose not to trade at that time. The Forex markets are open 24/5 so we can select our trading times.

No trading method is easy and I’m not saying this is easy. The problem with most novice traders is that they are lazy! That’s why they get into this business,looking for easy money. There is no easy money but there are profits if you are willing to do the simple tasks that are required in a well managed trading system. Well are you willing?

You can read all about Leonardo Fibonacci on the internet. The bottom line is that he developed a sequence of numbers found throughout nature. These ratios have been applied successfully to trading charts. Every charting program out there provides Fibonacci tools.The markets tend to obey these ratios for reasons unknown. I don’t much care about why it works. I do care about if it works. Traders must realize, if you find something that is working, then go with it. You do not need to analyze the WHY.

The “powers that be” are able and willing to manipulate the markets at will. They have very deep pockets and can bury us at will. If you can’t beat them join them. Most of the trading in all markets is program trading. Computers are programmed to make the trades. What does a computer need? RULES! The rules they follow are whatever they are instructed to follow. That is why your favorite indicator will work fine one day and not the next. Big money rules!

But there are certain rules that are universally followed (most of the time). These rules are SUPPORT, RESISTANCE, and FIBONACCI. Trend lines also get a piece of the act. When you combine the effect of these universal indicators to price action you end up with a high probability trading system. Trading is all about probabilities. There is no such thing as a 100% accurate system.

The ZUP indicator provides us with a valuable tool to build a successful trading system. This indicator may be a major part of the equation but the successful trader must also consider money management and many other important factors.

Understanding Forex Trading for Beginners

The currency market is one of the largest in the world, with a turnover of over a trillion dollars a day. It involves trading currency pairs by various participants from large investment banks, insurance companies and individuals. This market is filled with persons with diverse experiences from amateur traders to top-notch traders. There are numerous advantages that come with this market. For instance, it allows for 24 hour trading from the exchanges in Sydney to the New York stock exchange. Additionally, it is flexible and traders can adjust their trades depending on their preferences.

Forex trading for newbies can either be a rewarding or frustrating investment. It takes utmost skills and practice in order to learn the market operations. Some of the factors to consider on how to trade with Forex for beginners include the following:


Brokers act as intermediaries between buyers and sellers of currency. The best part is the traders do not pay the broker fees directly. Their commission is obtained from the bid – ask spread. Numerous brokerage companies exist around the world. They have easy to use websites through which clients can obtain insightful information and make contact regarding any Forex issues. A good broker is one that is reliable, accessible, competent and trustworthy. Before engaging in trades, a beginner must choose carefully a good broker to avoid cases of scams and frauds lurk in this market.

Trading platform

Trading platforms are mediums through which trade executions are carried out. Most brokers have free platforms through which clients can access services. It is recommended that beginner traders start with the demo accounts to gain the desired level of experience before investing real monies into the market.

Most platforms have various indicators through which traders can predict changes in the bulls and bears. Some of the trends used are moving averages. Candlesticks and charts are also great analysis tools. Risk management is encouraged through the use of take profit or stop-loss.


These are factors in the market that affect the demand and supply of currencies. They may be political, social or economical in nature. There are great sites through which beginner traders can obtain valuable information on market signals as they occur.

Automated trading.

Most often than not, Forex trading for newbies involves the use of automated trading strategy. This is when trades are executed on behalf of the individuals. The underlying concept is that highly experienced traders execute trades which are then executed to the amateurs’ accounts. However, this is only done when the trader consents to the terms and conditions associated with automated trading.

Qualities of a good trader.

Forex trading for beginners can be a daunting task. If not carried out properly, the amateur traders are susceptible to losses that can wipe out their initial capital invested. This may leave them feeling disappointed and frustrated. For instance, an ideal trader must be much disciplined in executing preferred trades. The newbie trader must be driven by patience and not greed or selfishness. Hard work, objectivity and integrity are also fundamental principles that must be upheld in this market.


It is imperative to note that loss is inevitable in the currency market. Forex trading has been made easier by the advancement in technology. Different online portals and websites exists that offer tutorial on how to trade with Forex for beginners. These have proven useful in educating the newbie traders and aiding them into being successful traders. Therefore, developing a good trading strategy is paramount in this dynamic market. All it takes is utmost hard work, passion and patience..

Income and Expenditure Accounts

An income and expenditure account is the profit and loss account of a not-trading concern. It contains only revenue items, being debited with all expenditure, and credited with all income of a period, weather or not it has actually being paid or received within that period. The final balance of and income and expenditure account represents the excess of income over expenditure, or the excess of expenditure over income, as the case may be, for then period. This balance is similar to the net profit or loss of a trading concern.

Receipts and payments accounts and income and expenditure accounts are used commonly by such not-trading concerns as social clubs, societies for the purpose presenting their financial position to their members. A receipts and payments account is no substitute for an income and expenditure account as the letter is prepared on an accruals basis.

Contrast with receipts and payments accounts

The main differences between the two accounts are:

Receipts and payments cash transactions only, indicates capital payments, balance represents cash in hand, bank balance, or bank overdraft. Income and expenditure includes accruals and prepayments, excludes capital receipts and capital payments, balance represents surplus/deficiency of income over expenditure for a given period.

Basis of preparation

In order to prepare an income and expenditure account Receipts and payments accounts, post all revenue items appearing in the Receipts and payments accounts to the opposite sides of the income and expenditure account, and make adjustments for accruals and prepayments at the beginning and the end of the period.

Such items as subscriptions, entrance fees, income from investments like that. Which have been received in cash and debited to the receipts and payments account, must be credited to the income and expenditure account, whilst expenditure such as rent, wages, repairs like that appearing on the credit side of the receipts and payments account must be debited to the income and expenditure account. Capital items appearing in the receipts and payments account will be posted to the debit or credit, as the case may be, of the relevant asset or liability accounts, and will not affect the income and expenditure account.

The balance sheet of a not-trading concern is prepared in the usual way, and contains particulars of all the assets and liabilities at the date as at which it is made up. The excess of the assets over the liabilities is similar to the capital of a trader, but is usually called the accumulated fund, or generally fund since it is normally made up of the excess of income over expenditure which has been accumulated within the concern.

Separate accounts should be kept for funds raised for special purposes, for example building appeal funds and election funds.

Two problems on the solutions of which accountants are divided are:

1. Should club entrance fees be credited in the income and expenditure account or be shown on the balance sheet of the club as an addition to the accumulated fund? Provided entrance fees are consistently treated, either method is correct; although it can be argued that revenue might be destroyed if there were a large number of entrance fees in any one period, the benefit of which is to be spread over a number of accounting periods.

2. Should club subscriptions in arrear be shown as debtors at the balance sheet date? A large number of club subscriptions in arrear are never received and the balance sheet could be destroyed by a fictitious asset of debtors should club subscriptions in arrear be included on the balance sheet and never received. In practice, subscriptions in arrear are often excluded from the balance sheet on prudence grounds.

Forex Expert Advisors Vs Automatic Trading Robots – Which is Better?

Two of the ways in which you can trade the currency market without really locating entry points yourself is by using an EA (Expert Advisor) program or an automatic trading robot. These two solutions have become widely popular in recent years with the advent of the Internet and other technological developments.

What is the difference between an Expert Advisor and an automatic Forex robot and which one should you use?

There are many similarities between EAs and trading robots:

1. Both are software programs which were developed to trade the market on your behalf.

2. EAs and robots both take care of the analysis part of the trade. They go over the current market prices and based on their internal algorithms and technical indicators, they discover the entry points for high probability trades.

The second similarity makes using either of these two solutions a low hassle way to take part in the currency market.

However, there is one major difference between EAs and automatic trading robots: EAs don’t really trade on your behalf while robots do.

You see, EAs just provide you with trading signals. They tell you when they believe you should trade but they don’t actually place the trade for you. This does mean that you need to be around to place the trade but it also gives you an additional layer of control, a final “veto” so to speak in which you can decide whether to follow the signal or not.

Automatic trading robots are an entirely different thing. A robot takes care of the entire trading process for you. It discovers where to place the trade and actually enters it for you. It also exits the market on your behalf, and it’s all done automatically without your active participation.

There is certainly something appealing about such a low hassle way to trade the market as a robot gives you but it also means that you’re not in control. An Expert Advisor is a much better way to be involved in the market and perhaps even learn something new about it.

If you want to be more involved in Forex trading, then an EA is the right solution for you. If you don’t then a robot may be better.

However, know that it is always good to know more about how the market is run. For that, a robot doesn’t really work. It can make you money, but it can’t teach you anything.