How to make money in the world of abstraction

Abstraction in its how to make money in the world of abstraction sense is a conceptual process where general rules and concepts are derived from the usage and classification of specific examples, literal «real» or » concrete » signifiers, first principlesor other methods. Conceptual abstractions may be formed by filtering the information content of a concept or an observable phenomenonselecting only the aspects which are relevant for a particular subjectively valued purpose. For example, abstracting a leather soccer ball to the more general idea of a ball selects only the information on general ball attributes and behavior, excluding, but not eliminating, the other phenomenal and cognitive characteristics of that particular ball. Abstraction in its secondary use is a material process[2] discussed in the themes. Thinking in abstractions is considered by anthropologistsarchaeologistsand sociologists to be one of the key traits in modern human behaviourwhich is believed to have developed between 50, andyears ago. Its development is likely to have been closely connected with the development of human languagewhich whether spoken or written appears how to make money in the world of abstraction both involve and facilitate abstract thinking. Abstraction involves induction of ideas or the synthesis of particular facts into one general theory about. It is the opposite of specificationwhich is the analysis or breaking-down of a general idea or abstraction into concrete facts. Abstraction can be illustrated with Francis Bacon ‘s Novum Organuma book of modern scientific philosophy written in the late Jacobean era [3] of England to encourage modern thinkers to collect specific facts before making any generalizations. Bacon used and promoted induction as an abstraction tool, and it countered the ancient deductive -thinking approach that had dominated the intellectual world since the times of Greek philosophers like ThalesAnaximanderand Aristotle. He deduced or specified from a general idea, «everything is water», to the specific forms of water such as ice, snow, fog, and rivers. Modern scientists can also use the opposite approach of abstraction, or going from particular facts collected into one general idea, such as the motion of the planets Newton — When determining that the sun is the center of our solar system Copernicus —scientists had to utilize thousands of measurements to finally conclude that Mars moves in an elliptical orbit about the sun Kepler —or to assemble multiple specific facts into the law of falling bodies Galileo — An abstraction can be seen as a compression process, [5] mapping multiple different pieces of constituent data to a single piece of abstract data; [6] based on similarities in the constituent data, for example, many different physical cats map to the abstraction «CAT».

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Sounds like a setting for the holiday of lifetime, or is that the financial education of a lifetime?! Because, unlikely as it seems, Disneyland provides us with a prime example as to how our relationship with money has changed in recent times — a change that has serious implications for employees, employers and the economy in general. With this colourful, plastic bracelet visitors can access their hotel room, the park and all its rides, purchase meals, drinks, ice-creams and all that Disney memorabilia that you never knew you, or your children, wanted! Seamlessly or is that magically?! Disney cleverly realised that by eliminating queues and ticketing issues, the visitor experience becomes easier and more enjoyable — seamless. Families can immerse themselves in all the park has. The Disney magic band and how it operates, especially psychologically, is a telling example of how increasingly disconnected from physical money we have become, and how our financial habits have changed as we move to virtual transactions. Just like Disney visitors, the Irish nation has bought heavily into the concept of seamless purchasing, with over 3 million contactless payments being made in the Republic each week. In truth, we have started to view money as more of an abstract and antiquated notion, as society has shifted from using coins and notes to paying digitally using contactless, PayPal, Google Wallet, ApplePay etc. The greater the disconnect with our money, the less real our money is to us and the more we spend. The problem, according to Adam Carroll, finance expert and financial education enthusiast, is that financial abstraction has the potential to ruin future generations and even the global economy. This world view is aided and abetted by the use of digital payments, and the fact that it is the younger generation who will drive the transition to a cashless society. In the Core survey mentioned above only 15 per cent of people surveyed say they have used mobile wallets already, in contrast to almost one in two millennials saying they have used some form of new technology. This lesson does not apply to them — they produce their smartphone, watch, tablet, and hey presto coffee appears! With no grip on the realities of money, the next generation are ill-prepared for the harsh economic consequences that can come with living beyond their means — debt, bankruptcy, stress. Not only is this a problem for them, but it is also a problem for their employers and the economy. If this is the case now, how much worse the stress of future employees, who have little or no grip on their finances? Indeed, how much worse the effect on the economy of failing businesses due to employee financial mismanagement? Indeed, recent research in the U. Financial wellbeing programmes can play a vital role in helping to instil the financial knowledge, behaviour and habits necessary in employees, and by extension in those around them. Technology is to be welcomed, as are contactless and other digital methods making our everyday purchasing lives easier. What is not to be welcomed, or encouraged, is the complete removal of the tangible monetary experience.

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In the 13th century, the Chinese emperor Kublai Khan embarked on a bold experiment. China at the time was divided into different regions, many of which issued their own coins, discouraging trade within the empire. So Kublai Khan decreed that henceforth money would take the form of paper. It was not an entirely original idea. Earlier rulers had sanctioned paper money, but always alongside coins, which had been around for centuries. And when the Italian merchant Marco Polo visited China not long after, he marveled at the spectacle of people exchanging their labor and goods for mere pieces of paper. It was as if value were being created out of thin air.

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Stock trading is not a risk-free activity, and some losses are inevitable. However, with substantial research and investments in the right companiesstock trading can potentially be very profitable.

While moeny trading can be risky, you might be able to make a lot of money if you do your research and invest in the right companies. Start by researching current market trends from trustworthy publications, like Kiplinger, Bloomberg BusinessWeek, and the Economist. Then, decide which trading sites you’d like to use, and make an account on 1 abstrachion more of the sites.

If you can, practice trading before you put any real money in the market by using market simulators. When you’re ready to trade, choose a mixture of reliable mid-cap and large-cap stocks, and monitor the markets daily. For tips from our financial reviewer on buying and selling stocks for profit, read on! This article was co-authored by Michael R. Michael R. Lewis is a retired corporate executive, entrepreneur, and investment advisor in Texas. Categories: Making Money Online.

Log in Facebook Loading Google Loading Civic Loading No account yet? Create an account. Edit this Article. We use cookies to make wikiHow great. Absfraction using our site, you agree to our cookie policy. Article Edit. Learn why people trust wikiHow. Co-authored by Michael R. Lewis Updated: September 3, There are 22 references cited in this article, which te be found at the bottom of the page.

Research current trends. There are many reputable sources that report on market trends. Select a trading website. Be sure that you are aware of any transaction fees or percentages that will be charged before you decide on a site to use.

You might want to read reviews of the business online. Create an account with one or more trading websites. Be sure to check out the minimum balance requirements for each site. Your budget may only allow you to create accounts on one or two sites. Practice trading before you put real money in. Some websites such as ScottradeELITE, SureTrader, and OptionsHouse offer a virtual trading platform, where you can experiment for a while to assess your instincts without putting actual money in. In real trading, there will be a delay when buying and selling stocks, which may result in different prices than you were aiming.

Additionally, trading with virtual money will not prepare you for the stress of trading with your real money. Choose reliable stocks. You have a lot of choices, but ultimately you want to buy stock from companies that dominate their niche, offer something that people consistently want, have a recognizable brand, and have a good business model and a long history of success. A more profitable company usually means a more profitable stock.

You can find complete financial information about any publicly traded company by visiting their website and locating their most recent annual report. If it is not on the site you can call the company and request a hard copy. Analyze their balance sheet and income statement and determine if they are profitable or have a good chance to be in the future.

If all technology stocks were down at one point, evaluating them relative to each other rather than to the entire market can tell you which company has been on top of its industry consistently. First, analyze the company’s quarterly earnings release that is posted online as a press release about an hour before the. Buy your first stocks. When you are ready, take the plunge and buy a small number of reliable stocks. The exact number will depend on your budget, but shoot for at least two.

Begin trading small and use an amount of cash you are prepared to lose. You just have to be careful to avoid large transaction fees, as these can easily eat up wotld gains when you have a small account balance.

Invest mostly in mid-cap and large-cap companies. Monitor the markets daily. Remember the cardinal rule in stock trading is to buy low and sell high. If your stock value has increased significantly, you may want to evaluate whether you should sell the stock and reinvest the profits in other lower priced stocks.

Consider investing in mutual funds. Mutual funds are actively managed by a professional fund manager and include a combination of stocks. These will be diversified with investments in such sectors as technology, moneg, financial, energy or foreign companies. Buy low. This means that when stocks are at a relatively low price based on past history, you buy. To determine if a stock is undervalued, look at the company’s earnings per share as well as purchasing activity by company employees.

Look for companies in particular industries and markets where there’s lots of volatility, as that’s where you can make a lot of money.

Sell high. You want to sell your stocks at their peak based on past history. If you sell the stocks for more money than you bought them for, you make money. The bigger the increase from when you bought them to when you sold them, the more money you make. Do not sell in a panic. When a stock you have drops lower than the price you bought it for, your instinct may be to get rid of it.

While there is a tje that it can keep falling and never come back up, you should consider the possibility that it may rebound. Study the fundamental and technical market analysis methods. These are the two basic models of understanding the wofld market and anticipating price changes. The model you use will determine how you make decisions about what stocks to buy and when to buy and sell. Wrld analysis seeks to give an actual value to the company and, by extension, the stock.

A technical analysis looks at the entire market and what motivates investors to buy and sell stocks. This involves looking at trends and analyzing investor reactions to events.

Consider investing in companies that pay dividends. Some investors, known as income investors, prefer to invest almost entirely in dividend-paying stocks. This is a way that your stock holdings can make money even if they don’t appreciate the price. Dividends are company profits paid directly to stockholders quarterly. Diversify your holdings. Once you have established some stock holdings, and you have a handle on how the buying and selling works, you should diversify your stock portfolio.

This means that you should put your money in a variety of different stocks. Start-up companies might be a good choice after you have a base of older-company stock established. If a startup is bought by a bigger company, you could potentially make a lot of money very quickly. If your original holdings are mostly in technology companies, try looking into manufacturing or retail. This will diversify your portfolio against negative industry makee.

Reinvest your money. When you sell your stock hopefully for a lot more than you bought it foryou should roll your money and profits into buying new stocks. Consider putting a portion of your profits into a savings or retirement account. Invest in an IPO initial public offering. An IPO is the first time a company issues stock. Take calculated risks when selecting stocks. The only way to make a lot of money in the stock market is to take risks and get a little bit lucky.

This does not mean you should stake everything on risky investments and hope for the best, ij. Investing should not be played the same way as gambling.

You should research every investment thoroughly and be sure that you can recover financially if your trade goes poorly. On one hand, ot it safe with only established stocks will not normally allow you to «beat the market» and gain very high returns. However, those stocks tend to be stable, which means you ln a lower chance of losing money.

And with steady dividend momey and accounting for risk, these companies can end up being a much better investment than riskier companies. You can also reduce your risk by hedging against losses on your investments.

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A short history of money. Communal Capitalism. An instrument to build peace. Semitic legends concerning the bank. Telematic currency and market strategy. The power of money. Drafts, banknotes convertible into metal, and today’s totally inconvertible paper money, have been practical essays to get free from the gold bond. Hand or electronic notations in current accounts have finally laid down the total abstraction of currency as a debt acknowledgement and a unit of account. The inertia which hinders the change of institutions is caused by many factors. Some are technical -a given instrumental inability to carry out a new proposal-; some belong to the human dynamics, where all changes are always difficult. Evidently metal currency is a good weapon of, cultural and commercial penetration, because it easily breaks any economic and traditional exchange structure in the invaded populations, thanks to the easy use and to the enchanting magic of precious metals. Only afterwhen the war had to be finished in three months due to the exhaustion of the gold reserves, was the decision taken to seize the opportunity to introduce paper-money instead of gold. A new path was therefore opened for the penetration and subtle exploitation through the use of the official paper-money, as a legal support of the over-utilization of bank money. World War II was used to end the use of gold on an international level. The Bretton Woods agreements, signed inaccepted that the US dollar would be convertible into gold.