水墨清馨 匠心独具——王本诚·王倩兮父女中国画作品欣赏

王本诚,字大愚、迂父,别署醉山外史,1936年生于山东沾化一书香世家,现居济南,祖籍四川,现为中国美术家协会会员、中央文史研究馆书画院研究员、山东省文史研究馆馆员、山东省老年书画研究会常务副会长等。     

水墨青锋,对尘世的理性旁观

杨晓刚,1972年5月生于济南,1996年毕业于天津南开大学东方艺术系,获学士学位,2007年获山东师范大学硕士学位,2008年参加冯远工作室做访问学者。现为山东画院研究部主任、国家一级美术师、中国美术家协会会员、中国青联艺术委员会委员、山东省青年美术家协会副主席、中国民主促进会山东省委委员、济南市政协委员。     

琴心剑胆，笔墨华章——读中国画家韦辛夷新作《广陵散》

韦辛夷,现为中国美术家协会会员、山东省美术家协会副主席、济南市美术家协会主席、山东书画学会副会长、国家一级美术师、济南专业技术拔尖人才.被列入山东省高层次人才库.系享受国务院政府特殊津贴专家.     

幸运的美国男孩与神奇的中国医生

在山东省东平县泰美宝法肿瘤医院接受睾丸癌治疗的美国男孩安德雷斯·科兰,已于2001年11月20日康复出院返回美国。安德雷斯的爸爸山姆激动地说:“非常感谢中国医生让我有了一个新的儿子。” 9岁的美国小男孩安德雷斯·科兰。两年前患急性淋巴性白血病,在美国经过两年半大剂量化疗后,病情得到控制。2001年7月,安德雷斯又患上了睾丸癌,化疗3天后,头发全部掉光,     

高三阳:拳拳报国心

2008年,大事颇多.北京奥运、神七太空漫步、金融危机……皆成为历史一章.山东省第五届海内外高端人才交流暨技术项目洽谈会(简称海洽会)就在这样的历史当口如期举行.     

APPLYING A GENETIC ALGORITHM TO INTERNATIONAL DIVERSIFICATION OF EQUITY PORTFOLIOS: A SOUTH AFRICAN INVESTOR PERSPECTIVE

This paper uses the genetic algorithm (GA) approach to generate a portfolio optimisation scenario of a South African investor who seeks to maximise return from investing in S&P500, FTSE100, NASDAQ, DOWJONES, CAC40 and the DAX from January 1, 2005, to January 31, 2008, but facing exchange rate risk. The GA searches for the optimal solution in the entire set of financial constraints without looking for partial derivatives of the utility function. Whereas most financial problems require a non‐linear and time‐varying model, the GA, with its survival principle of offspring chromosomes, is better suited to this type of problem than local optimisation methods. The performance of the GA is compared with two non‐linear models, namely the quadratic mean‐variance (QMV), which maximises the portfolio mean‐variance, and the quadratic variance minimisation (QVM), which minimises the portfolio variance. The results show that neither the QMV nor the QVM takes into account the domestic investors' risk attitude towards investing in foreign equities and therefore does not provide any international diversification benefits. In addition, the bootstrapping scenario of 10,000 simulations reveals that neither the QMV nor the QVM outperforms the GA in terms of Sharpe ratio and flexibility in dealing with investors' risk attitude towards investing in foreign equities denominated in foreign currencies.