Portfolio Managemnt Essay Example for Free

Portfolio Managemnt Essay Overview KBIM Investment Inc. is a leading investment company incorporated in Barbados and licensed under the Companies Act cap 308 of the laws of Barbados. Founded in the year 2000, the company seeks to provide its investors with risk-adjusted returns in a management structure that closely aligns the  interests of investors and managers. Further, KBIM has continued to evolve from a dedicated private equity investment firm to a diversified management company. The fund buys US and Canadian stocks from the New York Stock Exchange as well as from the Toronto market. The fund has been equally divided among the following four industries; financials, technology, pharmaceuticals and energy. To assure that efficiency is maintained, the net assets are calculated weekly at the end of each week (Friday) of all stock market transactions. Global Economic and Market Outlook The global economy is in a dangerous new phase. Global activity has weakened and become more uneven, confidence has fallen sharply recently, and downside risks are growing. Against a backdrop of unresolved structural fragilities, a barrage of shocks hit the international economy this year. Japan was struck by the devastating Great East Japan earthquake and tsunami, and unrest swelled in some oil-producing countries. At the same time, the handover from public to private demand in the U.S. economy stalled, the euro area encountered major financial turbulence, global markets suffered a major sell-off of risky assets, and there are growing signs of spillovers to the real economy. The structural problems facing the crisis-hit advanced economies have proven even more intractable than expected, and the process of devising and implementing reforms even more complicated. The outlook for these economies is thus for a continuing, but weak and bumpy, expansion. Prospects for emerging market economies have become more uncertain again, although growth is expected to remain fairly robust, especially in economies that can counter the effect on output of weaker foreign demand with less policy tightening. World Economic Outlook (WEO) projections indicate that global growth will moderate to about 4 percent through 2012 from over 5 percent in 2010. Real GDP in the advanced economies is projected to expand at an anemic pace of about 1 ½ percent in 2011 and 2 percent in 2012, helped by a gradual unwinding of the temporary forces that have held back activity during much of the second quarter of 2011. However, this assumes that European policymakers contain the crisis in the euro area periphery, that U.S. policymakers strike a judicious balance between support for the economy  and medium-term fiscal consolidation, and that volatility in global financial markets does not escalate. Moreover, the removal of monetary accommodation in advanced economies is now expected to pause. Under such a scenario, emerging capacity constraints and policy tightening, much of which has already happened, would lower growth rates in emerging and developing economies to a still very solid pace of about 6 percent in 2012. Strategic Objectives KBIM Investment Inc endeavours to provide an above average, long-term total return fund by investing in small capitalization stocks listed from within the US stock exchanges. The fund’s investment style of small capitalization values the investment objective of growth funds. A growth fund seeks to find companies that are expected to show rapid future growth in earnings, even if current earnings are poor, or possibly non-existent. The latter is directed towards more aggressive investors seeking good performance in an expected market rise. KBIM Investment Inc places heavy emphasis on asset allocation which is a very important decision for any investor in terms of portfolio construction. Fund managers have decided based on strategy and policy of the fund to utilize tactical asset allocation. This approach is performed routinely as part of the ongoing process of asset management. Using this approach, market risk is insulated, where exposure to a particular market is increased when its performance is expected to be good. On the other hand there is decrease exposure to the market when performance is expected to be poor. An investor’s fate is basically determined by having allocated funds to asset classes. Risk, expected return, market expectations, risk tolerance and goals of the fund is reflected in the allocation of weights The following characteristics should be present for companies in which the fund invests: 1. The company’s share price is depressed after a period of negative growth 2. An acceptable level of financial strength, efficient control and effective management of business assets should be exhibited by the said Company. KBIM Investments Inc reserves the right to rebalance the portfolio after decisions have been made from review of the portfolio ever quarter. Rebalancing reduces the risks of sharp losses and is less volatile than a portfolio not rebalanced. At any time where the fund liquidates or suitable equity investments are absence, KBIM investments Inc will seek investments in short term debt securities or money market instruments. Risk KBIM investment equity fund is specifically for an investor who seeks to attain high returns and by doing this is willing to tolerate high risk to receive the maximum benefit from their investment. Investors must take into consideration that investments in only one portion of the economy may offer greater risk than a highly diversified fund. In addition to the above, a fund that invests in well-established companies may be less risky than one that favors start-up companies. Limitations Investors must take into consideration the impact of taxes on the portfolio. Further, changing tax laws imposed can become bothersome in terms of forecasting future tax rates. Investors must also abide by regulation requirements imposed by state and federal agencies. The latter specifies the actions an investor should take in terms of achieving objectives, given the preference of the investor and any constraints imposed. Benchmark To evaluate portfolio performance, the following questions should be answered; the first being whether or not the return on the portfolio was adequate after all expenses was taken care of? Next the amount of risk taken by the investor or portfolio manager in creating and managing the portfolio should be assessed. Finally what return should have been earned on the portfolio, given the risk taken and the alternative returns available to be earned from investments over the same period. KBIM will be benchmarked against the SP 500 small cap index. The stocks for the fund were selected based on the following criterion: ROE 10 Market cap 1,000,000,000 Six month return 0 P/E 15 Competitive Advantage The fund managers of KBIM, are committed to offering returns above average of similar portfolios. Through our investment strategic policies, we hope to attract investors who are seeking to hedge funds. Here at KBIM we also value enhancement services such as risk management, insurance reviews, consulting and corporate governance. The firm’s comprehensive offerings provide private equity clients with numerous competitive advantages throughout the private equity life cycle, including fund development, portfolio growth and divestiture. Fee Details Annual charges: Annual Management charges: 1.65% of net asset value Fund Administrative charges: 0.05% Registrar charges: 0.13% Fund expenses: 0.2% Commission: Sales charge of 1.85% will be charged on amounts invested into the fund. During the first week of investing, KBIM Investment Fund grew by 3.5%, as U.S stocks rose, driving the Standard Poor’s 500 Index to its longest winning streak since February, amid optimism Europe’s leaders would announce a plan to contain the debt crisis and after McDonald’s Corp. (MCD) joined companies beating profit estimates. Financial shares in the SP 500 added 3.9 percent as European finance ministers began negotiations to prevent a Greek default and shield banks. The SP 500 climbed 1.1 percent to 1,238.25, the highest since Aug. 3, and had risen three straight weeks. It had surged 13 percent since Oct. 3, when it closed within 1 percent of a bear market, or 20 percent plunge, from its high in April. The Dow Jones Industrial Average also rose a fourth straight week, gaining 164.30 points, or 1.4 percent, to 11,808.79. Equities rose as European finance ministers approved a 5.8 billion Euro loan to Greece, and France retreated in a clash with Germany over expanding the bailout fund. Talks are to continue through Oct. 26. The SP 500 also gained after 74 percent of companies that reported quarterly results topped the average analyst  projection. During the second week of investing, KBIM Investment Fund grew by 4.54% amidst a week which ended with most U.S. stocks falling, as data on consumer confidence and spending failed to boost equities a day after European leaders expanded the region’s bailout plan. Stocks pared losses in the final minutes of trading on Friday, with the Standard Poor’s 500 Index erasing a decline as it completed a fourth straight weekly advance, the longest streak since January. About four stocks declined for every three that rose on U.S. exchanges at 4 p.m. New York time on Friday. The SP 500 rose less than 0.1 percent to 1,285.09, after rallying 3.4 percent on Thursday. It was up 3.8 percent since Oct. 21. The Dow Jones Industrial Average added 22.56 points, or 0.2 percent, to 12,231.11. The Russell 2000 Index of small companies retreated 0.6 percent. U.S. equity options expired Friday. Stocks rose Thursday, extending the best monthly rally since 1974 for the SP 500, as European leaders agreed to expand a bailout fund and U.S. economic growth accelerated. Earlier this month, the index came within 1 percent of extending a drop from its peak in April to 20 percent, the common definition of a bear market. Since then, it has risen 17 percent. The SP 500 rallied above the average strategist forecast for its closing level on Dec. 31, the third straight year that stocks ran ahead of projections. The index closed above the year-end forecast on Nov. 4 in 2010 and on June 2 in 2009, according to data compiled by Bloomberg. German Chancellor Angela Merkel said that the debt crisis won’t be over â€Å"in a year.† Italy’s borrowing costs rose to a euro-era record at a sale of three-year bonds, driving yields higher amid concern that efforts to contain the sovereign crisis won’t be enough to safeguard the region’s third-largest economy. Fitch Ratings said part of the plan to contain debt turmoil amounts to a Greek default. European leaders may struggle to maintain the euphoria that drove the euro to its biggest one-day gain in more than a year as scrutiny deepens on their latest attempt to stem the region’s turmoil. During the third week of investing, KBIM Investment Fund fell by 3.28%. U.S. stocks fell, driving the Standard Poor’s 500 Index to its first weekly decline since September, as a disagreement on Europe’s resources to fight  the debt crisis offset a drop in the American unemployment rate. The SP 500 dropped 0.6 percent to 1,253.23 as of 4 p.m on Friday, November 4, New York time, after falling as much as 1.8 percent earlier. The gauge was down 2.5 percent this week. The Dow Jones Industrial Average slid 61.23 points, or 0.5 percent, to 11,983.24. Benchmark gauges tumbled earlier this week as Greek Prime Minister George Papandreou announced on October 31 a parliamentary confidence vote and his desire to hold a referendum on a European Union aid package needed to avert default. Equities rebounded on Thursday as Greece abandoned the referendum, moving closer to accepting the bailout. Global stocks slumped on Friday as the Group of 20 nations failed to agree on increasing the International Monetary Fund’s resources to fight Europe’s debt crisis. Ruling party lawmakers urged Papandreou to step aside and allow the formation of a new government that can approve the bailout plan for Greece. The unemployment rate unexpectedly fell to a six-month low of 9 percent from 9.1 percent, even as the labor force expanded. The 80,000 increase in payrolls followed gains in the prior two months that were revised up by 102,000. Financial stocks had the biggest decline in the SP 500 among 10 industries, falling 1.4 percent as a group. During the fourth week of investing, KBIM Investment Fund rose by 1.17%. U.S. stocks rose this week, restoring the year-to-date gain for the Standard Poor’s 500 Index, as improving economic data and leadership changes in Greece and Italy bolstered investor optimism. The SP 500 rose 0.9 percent to 1,263.85, overcoming a 3.7 percent decline on Nov. 9 that was the largest one-day loss since Aug. 18. The Dow advanced 170.44 points, or 1.4 percent, to 12,153.68 this week. Stocks resumed the rally that drove the SP 500 up as much as 20 percent since the first week of October. Equities gained after U.S. consumer confidence improved and Italy’s Senate approved debt-reduction measures, paving the way for a new government led by former European Union Competition Commissioner Mario Monti. Greece swore in Lucas Papademos to head a unity government. The SP 500 has rebounded 15 percent from a 13-month low on Oct. 3 as the Citigroup Economic Surprise Index for the U.S., which gauges whether reports are beating or trailing estimates, climbed to a seven-month high. The benchmark measure of U.S. equities rose 2 percent on Thursday, preventing a second weekly drop, after  a gauge of consumer sentiment topped estimates in November and reached the highest level since June. The Labor Department said on Nov. 10 that the number of Americans filing applications for unemployment benefits fell to the lowest level in seven months. Stocks tumbled on Nov. 9 as yields on Italian government bonds surged, fueling concern European leaders will struggle to fund bailouts. During the fifth week of investing, KBIM Investment Fund fell by 3.71%. U.S. stocks fell, sending the Standard Poor’s 500 Index to its worst weekly loss in two months, as Spanish, French and Italian bond yields rose and Fitch Ratings said Europe’s debt crisis poses a threat to American banks. The SP 500 decreased 3.8 percent, the most since the week ended Sept. 23, to 1,215.65. The index closed at the lowest level since Oct. 20. The Dow fell 357.52 points, or 2.9 percent, to 11,796.16. Equities slumped this week as higher government bond yields in Spain, France and Italy spurred concern the European debt crisis is intensifying outside Greece. The SP Financials Index slumped 5.6 percent this week, the biggest drop among 10 industries, after the Fitch report spurred speculation the European crisis poses a threat to earnings. The SP 500 advanced one day this week, on Nov. 15, amid speculation Mario Monti would succeed in forming a new Italian government to battle the debt crisis, while growth in retail sales bolstered optimism in the economy. Yesterday, he won a final parliamentary confidence vote, granting full power to his new government after pledging to spur growth and reduce debt in the euro-region’s third-largest economy. The benchmark measure of U.S. stocks erased gains yesterday after Deutsche Presse-Agentur reported that Germany’s Foreign Ministry said the nation was considering the possibility of â€Å"orderly defaults† beyond Greece. The index had rallied after a measure of leading U.S. indicators signaled the world’s biggest economy will keep growing in 2012. During the sixth week of investing, KBIM Investment Fund fell by 4.07%. The euro touched a seven-week low against the dollar, falling for a fourth week, as Italian borrowing costs jumped to the highest level since 1997, adding to speculation Europe’s sovereign-debt crisis is spreading. U.S. stocks tumbled in the worst Thanksgiving-week loss for the Standard Poor’s 500 Index  since 1932 as concern grew that Europe’s debt crisis will spread and American policy makers failed to reach agreement on reducing the federal budget. The SP 500 slid 4.7 percent to 1,158.67, closing at the lowest level since Oct. 7. The Dow fell 564.38 points, or 4.8 percent, to 11,231.78 this week. The SP 500 has fallen for seven days, the longest streak in four months, and has tumbled 7.6 percent so far in November. U.S. equities erased an early advance on the final session of the week as SP lowered Belgium’s credit rating and Reuters reported that Greece is demanding private investors accept larger losses on their debt. The cost of insuring European sovereign bonds against default rose to a record this week as Germany failed to find buyers for 35 percent of the bonds offered at an auction. German Finance Minister Wolfgang Schaeuble said market turbulence sparked by the euro region’s sovereign-debt crisis will last for â€Å"a few months.† Congress’s special debt-reduction committee failed to reach an agreement this week, setting the stage for $1.2 trillion in automatic spending cuts and fueling concern that economic- stimulus measures that are set to expire will not be renewed. Still, SP reaffirmed it would keep the U.S.’s credit rating at AA+ after stripping the government of its top AAA grade on Aug. 5. Stocks fell Nov. 22 as revised Commerce Department figures showed that gross domestic product climbed at a 2 percent annual rate from July through September, less than projected and down from a 2.5 percent prior estimate. U.S. stock exchanges were shut Nov. 24 for Thanksgiving and closed three hours early on Nov. 25. Evaluation of Fund KBIM FUND PERFORMANCE WEEK 1-6 Initially, the first two weeks of the portfolio’s performance did exceptionally well. Due to extreme market conditions in Europe (European Debt Crisis), the fund was affected. The weaknesses of Europe’s common currency area, ranging from its design to a persisting dearth of bank funding and anemic economic growth, weren’t properly addressed in the measures revealed on to stem investor panic. Consumer confidence unexpectedly rose in October from the previous month, indicating the biggest part of the economy will help keep the U.S. recovery intact.  Performance fell in week 3 but stabilized in week 4 due to improving economic conditions in Europe (leadership changes in Greece and Italy), thus restoring confidence in the market. Week 4 and 5 dropped to record lows in the SP 500. This was due to the negative result of the sale of government bonds in Germany, as investors lacked the confidence it once had in what is arguably the strongest economy in Europe. The fact that the German economy was unable to raise the money it expected to with the sale spoke volumes, as it was the one country in Europe which seemed to be stable and assisted in the bailout of its struggling member countries (Greece, Italy and Spain). This also led to a huge dip in the value of the Euro currency. Overall, the fund’s performance was below expectations. There was, however, directly related to unexpected market conditions, which affected the global market adversely. Invariably, that was passed down to the portfolio. During the six week period KBIM started out with $999,984.84 and ended with $977,853.00, thus making a loss of $22,131.82. Total return was then a negative return of 2.21%. The decision was taken to hold of the selling of equities with the portfolio. Instead, the strategy opted was one of riding the storm out, and in some instances, even buying more stock, as the markets were down and the share prices down as well. This would allow for the fund to make substantial profits when the market recovered or improved, as it could only improve from this point. Bibliography Jones, Charles P. Investment Analysis and Management, Eleventh Edition John Wiley and Sons 2010 http://www.bloomberg.com http://www.imf.com

Drinking and Driving Essay -- Drunk Driving, DUI, Alcohol

â€Å"Have one drink for the road† was, until recently, a commonly used phrase in American culture. It has only been within the past 20 years that as a nation, we have begun to recognize the dangers associated with drunk driving (Sutton 463). According to the National Highway Traffic Safety Administration, this year 519,000 people, or one person per minute, will be injured in alcohol-related accidents. 10,839 people will die in drunk-driving crashes this year – that is one death every 50 minutes. The heartbreaking part is, every injury and lost life due to driving after drinking can be prevented. Drinking while driving â€Å"accidents† are not merely â€Å"accidents.† Getting in a vehicle after consuming alcohol, which severely affects the function of the brain, is not an accident. It is lack of responsibility. Individuals that consume alcohol irresponsibly must begin to take responsibility for themselves and for other innocent drivers on the road. Unfort unately, in spite of great progress, alcohol-impaired driving remains a serious national problem that tragically affects many victims annually (Hanson). It is time that laws and consequences for drinking while driving strengthen and people begin to think twice before driving a vehicle after drinking. Individuals who make the decision to drive after consuming alcohol, not only put themselves in a dangerous situation, they also put an entire community at risk. Current laws, which are not strict or powerful enough, must be increased in order to keep our neighborhoods around the nation safe. Although many people think current drinking while driving limits and laws are strict enough, the rising number of individuals who continue to make an irresponsible decision to get behind the wheel of a vehicle ... ...king & Driving." WWW2 Webserver. State University of New York Sociology Department. Web. 5 Apr. 2011. Lightner, Candy. "Campaign to Eliminate Drunk Driving." Mothers Against Drunk Driving. 2011. Web. 01 Apr. 2011. Saunders, Carol Silverman. "'It's suicide.'(Drinking and Driving)." Current Health 2, a Weekly Reader publication Feb. 1996: 26+. Gale Opposing Viewpoints In Context. Web. 20 Apr. 2011. Sutton, Amy L. "Drinking and Driving." Alcoholism Sourcebook. Detroit, MI: Omnigraphics, 2007. 463. Print. "Update: Drunk Driving." Issues & Controversies On File: n. pag. Issues & Controversies. Facts On File News Services, 21 Sept. 2007. Web. 20 Apr. 2011. Wagner, Heather Lehr. Alcohol. Philadelphia: Chelsea House, 2003. Print. "What Is a Drink?" Arizona Department of Public Safety (DPS), Arizona Highway Patrol - State of Arizona. 2011. Web. 12 Apr. 2011.

Key Features of Utilitarianism Essay

The theory of Utilitarianism is based on the concept of utility, a theory of usefulness. Utilitarianism is a system of morality that generates us with what the most useful thing to do in different situations and outcomes. Different Utilitarian approaches to morality have emerged each with their own theory of good and community of concerning individuals. Featuring the main influential contributors to this theory are Jeremy Bentham and John Stuart Mill. There are two types of theories, teleological and deontological theories. Firstly for the teleological theory, you would consider the ends, or the outcomes of your decision. It considers whether it is right or wrong depending on the different outcomes it might cause and not concerned with the motive or intention for an action. This is the most common thing to all Utilitarian, the teleological outlook. In this theory, the means justifies the ends. Whereas the deontological theory concentrates on the moral rules that can’t be broken. For this theory, the most important ethical thing isn’t the result or the consequence of the action, but the action itself. If by nature that the action is wrong, then don’t do it. For example, a deontologist could day, ‘You should never steal, this means by the act itself of stealing is wrong. This theory suggests that the end never justifies the means. Introducing Jeremy Bentham, where his theory focuses on weighing up pleasure and pain. In 1789, in Principles of Morals and Legislation, he wrote: Nature has placed mankind under the governance of two sovereign masters, pain and pleasure. It is for them alone to point out what we ought to do as well as what we shall do. This is when the hedonic calculus came into the equation. Its purpose is to weigh up pain and pleasure generated by the available moral actions to find the best option. There are 7 factors that needs to be considered in this calculus before making the decision, starting with its intensity, considering how deep or superficial the happiness is, duration, how temporary or permanent the happiness is, certainty, how sure the happiness is, propinquity, how near or remote the happiness is, fecundity, how likely the happiness is to recur or lead to future happiness, purity, how free from pain the happiness is and extent, how far the happiness-giving effects of action will spread. This suggestion will only help the majority and no the minority. It doesn’t give any protection to the minority, for example the sadistic guards, where the guards gain pleasure from torturing and the helpless prisoner gets pain but there are a higher number of guards comparing to one prisoner. So is it correct to say that what the guards are doing is right? For the calculas, what if someone doesn’t have all the available information for every 7 factors? Will the calculus still be put to use? There’s absolutely no guarantee in predicting the future because everyone is different. Each person has different views even if it’s on the same subject. The calculus is obviously flawed. J. S. Mill on the other hand, felt that Bentham had made a mistake in his assessment of what human beings desired the most. Mill thought that what was more important was that happiness will be most affectively gained when individuals seek their own needs. Mill knows that Bentham’s theory is based on quantitative level and that’s where he saw upcoming errors where human behaviours react to different things change everything. So, instead of focusing on quantity, Mill focuses on the qualitative pleasures. He developed a system of higher and lower pleasures where the higher pleasure would be taken into consideration first before the lower ones. Mill stood up on the fact that pleasures of the mind were higher than those of the body. For example, Mill thought that pure bodily pleasure like food, drink, drugs and sex was not as high an objective as those on an intellectual level. There are two types of utilitarianism, act and rule. For act, the principle of utility is faced individually. All of the acts are decided by the resulting consequences even if it might break the law. It has the benefit of being flexible where the section of justification may vary. Meaning of this is that, one day it might be the right thing to do and another day it might be the wrong thing to do. It is said that the act states the most number of good for the most number of people is generally good. For example, it can be in a form of satisfaction, pleasure and happiness. Act utilitarianism is the application on a case by case basis. It states that, when faced with a choice, we must first consider the likely consequences of potential actions and from that choose to do what we believe will generate the most pleasure.   The problem with this is that we have to take every single thing into account. By every dilemma that we face, we’d have to go through it first then make a decision to act upon it. It is closely associated with Bentham’s theory. For rule utilitarianism, it focuses on general rules that everyone should follow to bring about the greatest good for that community. For example, the rules are pursued by the whole community giving them convenience and reasonable rules to live by which ultimately brings the best result overall. This theory leans closer to Mill’s theory. In any situation, an individual must obey the rule even if it doesn’t lead to the greatest pleasure. By obeying all these rules, it brings the greatest good when everyone acts in the same manner. Now, there are the weak and the strong where the weak utilitarianism doesn’t have to stick by the rules cause they chose not to abide by it therefore when it comes to certain situations, they have a free choice to either follow it or not. For example, although rules should be framed on previous examples that benefit society, it is possible, under specific circumstances, to do what produces the greatest happiness and break that rule. On the other hand, strong utilitarianism is where people never break the rules. So a strong rule utilitarian might say the â€Å"Do not steal† rule must never be broken and they would stick to it even though in some situations, it might be better if they did steal but to them, it’s the wrong thing to do no matter whether it brings them to a better condition. Lastly, there are other forms of Utilitarianism such as the â€Å"Best Interest Utilitarianism† by Peter Singer where he tries to solve the problem that some pleasures are bad for us. Preference Utilitarianism by R. M. Hare where he tries to solve the problem that people have different ideas of pleasure even if it’s something very small and specific, not everyone wants and thinks the same. Ending with Motive Utilitarianism by Sidgwick where he tries to solve the problem of the difficulty of predicting consequences where he elaborates on the inaccuracy of an individual’s chances of guessing what’s going to happen in the future.

An Examination of the Machine Gun - 920 Words

Weapons of war are useful in killing human lives and causing widespread destruction and terror. The machine gun is such a weapon that has allowed for the mass extinction of those on the receiving end of its power. The purpose of this essay is to examine the machine gun in a historic perspective in order to contextualize its practicality and importance in modern history. This examination will describe the development, the current impact and the future of this tool of war in order to reveal the importance of their presence. The development of means to extinguish human existence usually arrives out of necessity. Cantrell (2012) described the birth of the machine gun by Richard Gatling as a quantum development in the evolution of firearms. Ironically, Cantrell supposed that Gatling created a weapon so devastating and superior in its firepower that opposing armies would have no chance of victory. While Gatlings intentions seemed well placed, it seems that this idea perhaps has backfired . The machine gun was introduced in the American Civil War around the year 1862 in order to serve as a deterrent for weaker forces to attack. Firepower was concentrated in this tool so that one person operating a Gatling machine gun would replace many men on the battlefield. Essentially this invention permitted for more casualties occurring at a more rapid pace. The early version of this gun had 5 to 10 barrels arranged in a cylinder revolved by turning a hand crank. It was made inShow MoreRelated Yojimbo : Ideology and Interpretation Essay1180 Words   |  5 Pagesthe conflict of man versus machine. The weapon used by the samurai is his sword, which requires an element of skill and entails an entire individual set of ideologies. The brother of one of the gang leaders appears with a gun for the majority of the film. The gun, as a product of man, represents the absence of all of the ideologies that a samurai embodies. 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