Introduction To Portfolio Theory Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1606 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Firstly, we need to define the word of portfolio in order to get more understanding about the portfolio theory and portfolio development. Portfolio is refers to a group of financial assets such as stocks, bonds and cash. The portfolios are mostly hold by investors according to their risk tolerance, time taken and investment objectives and/or will be controlled by financial professionals, banks and other financial institutions to get the better allocation of risk-return portfolio. Don’t waste time! Our writers will create an original "Introduction To Portfolio Theory Finance Essay" essay for you Create order Besides, there are two types of risk that involved: diversified and undiversified risk. Diversified risk also called as unsystematic risk which the risks cannot be fully predicted and avoided, the examples are interest rates and wars. The undiversified risk is known as systematic risk and this kind of risk can be reduced through suitable diversification and it is more specific to individual stock. The History of Portfolio Management Portfolio Theory is also known as Modern Portfolio Theory (MPT). It was first developed and discovered by Harry Max Markowitz. He is an American economist, born on 24th August 1927. He is also a professor of finance at the Rady School of Management at the University of California, San Diego. Portfolio Theory was introduced in his paper Portfolio Selection which was published in the Journal of Finance in 1952. In 1990, he won the Nobel Prize in Economic Sciences for the Theory, shared with Merton Miller and William Sharpe. Markowitz is not only known for his pioneering work in Portfolio Theory. He is also very known for the study of the effects of asset risk, return, correlation and diversification related to investment portfolio returns. The Benefits of Portfolio Management The main advantage of portfolio management is to help companies manage all their processes as well as set objectives. Small businesses may not have a structure for portfolio management, but most companies often employ someone to handle their projects. A portfolio management benefits the investors in making decisions especially risk matters. It is very important for investors to know how to control risk in their business portfolios. Besides that, it improves business performances. Portfolio management improves business performances by setting the priorities for better project delivery. Business projects are often achieved by resources which are evenly shared alongside with other projects. Many projects may end up competing for resources. This is where portfolio management is much needed. It helps in planning so that resources are equally distributed in all the business processes. This involves measuring, comparing, and prioritizing the most valuable projects only. The conflicts between the projects for resources are resolved by the high level management. The skill sets required for each project and ideal source of these resources are determined by incorporating formal sourcing strategies. The performance problems are corrected earlier to their development in major issues. Although, portfolio management cannot completely eliminate performance failures, it helps in identifying the performance issues early. The portfolio management involves steps such as identify, growth and deal with any issues related to implementation. The portfolio also helps in keeping the progress of projects or work on track. Traditional and Modern Portfolio From the evolution of mankind, people are trying to get rich. Hence, many investments have been made. Countless method has been introduced to manage portfolio. In this page, we will compare Markowitz Modern Portfolio Theory and Altman Z-score theory. Modern Portfolio Theory Also called modern investment theory, this theory states that investors will only bear excessive rate if they are compensated sufficiently. This theory is developed by Harry Markowitz in year 1950th. Modern Portfolio Theory seeks to construct an optimal portfolio by looking at the relationship between risk and return by measuring alpha, beta and R-squared. Investors can construct an optimal portfolio by maximizing the expected return for that level of risk. The formula for Markowitzs theory is as below. E(R_i) = R_f + beta_{i}(E(R_m) R_f), Where E(R_i)~~is the expected return on the capital asset R_f~is the risk-free rate of interest such as interest arising from government bonds beta_{i}~~(the  beta) is the  sensitivity  of the expected excess asset returns to the expected excess market returns, or also  beta_{i} = frac {mathrm{Cov}(R_i,R_m)}{mathrm{Var}(R_m)}, E(R_m)~is the expected return of the market E(R_m)-R_f~is sometimes known as the  market premium  (the difference between the expected market rate of return and the risk-free rate of return). E(R_i)-R_f~is also known as the  risk premium According to Markowitz, there is a formulation, efficient market frontier that used to measures and calculates the portfolio in the level of ideal return and risk. Graph below shows the efficient frontier for two stocks (Google and Coca Cola) in year 2006 where the Google has high risk -return and Coca Cola has low risk-return. https://i.investopedia.com/inv/articles/site/CT_MPT_2r.gif The Efficient Frontier along with the portfolios would expect a higher on returns than its typical on the average for the level of risk the portfolio assumes. We would notice the Efficient Frontier line will starts lower at first and then slowly the expected risks and return will move higher. Investors having different investing profiles can find a suitable portfolio at any place within The Efficient Frontier. As the Efficient Frontier flattens, it goes higher due to the peak limit the investors can already expect. By using the Monte Carlo simulation, we can use the percentage of standard deviation and average return, types of chosen investment and time horizon to compute and comparing the annualized return rate of different investments. The formula is ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒâ€¦Ã‚ ¡(ÃÆ'Ã… ½Ãƒâ€šÃ‚ £Wa2ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢a2 + ÃÆ'Ã… ½Ãƒâ€šÃ‚ £ÃƒÆ'Ã… ½Ãƒâ€šÃ‚ £WaWbCovab), where w is the size of portfolio in a security, ÃÆ' Ãƒâ€ Ã¢â‚¬â„¢ is the standard deviation of the expected return in the security and Cov is the covariance of the expected return in the security. According to the graph below, when the number of portfolio is increasing, the percentage of average portfolio standard deviation and risk to a one-stock portfolio will also decreasing at the same time. In Modern Portfolio Theory, the Sharpe Ratio is use to find the best proportion of the possible securities used and also a measurement for return to risk. The formula for Sharpe Ratio is: S(x) = ( rx   -   Rf ) / StdDev(x) where x is some investment rx is the average annual rate of return of x Rf is the best available rate of return of a risk-free security (i.e. cash) StdDev(x) is the standard deviation of rx The Sharpe Ratio of X is the slope of the line joining cash with X There is another calculation method to calculate the expected return for two assets portfolio, which is ERP = ÃÆ' ¢Ãƒâ€¹Ã¢â‚¬  Ãƒ ¢Ã¢â€š ¬Ã‹Å"wiERi Portfolio Strategies According to Mr. Markowitz, there are two types of portfolio strategies which are passive portfolio strategies and active portfolio strategies. The passive portfolio strategy is a strategy that will relies more on the minimum of input in order to have better performances in some of the market index. The other one, active portfolio strategy is a strategy that uses all the market information or available information and evaluating techniques to get a better portfolio performance. In addition, there are 3 types of portfolio, which are patient, aggressive and conservative portfolio. The patient portfolio is mostly the famous taken stock and has the most holders and buyers for longer time period. Those also reflect of the high growth companies and having the higher profit of income. The aggressive portfolio is those having higher return, higher risk and also has the most potential of future development stock. However, the aggressive portfolio would experience unexpected turnovers over time. The conservative portfolios have a stable and trustable earnings growth and history of dividend. Argument of Modern Portfolio Theory When Markowitz and Sharpe first created this theory, they define risk and volatility. This theory concept is the greater the volatility, the higher the beta, the greater the risk. Yet, there are no proof that measuring volatility as risk is a good measurement. In (J. Michael Murphy, Efficient Markets, Index Funds, Illusion, and Reality,  Journal of Portfolio Management  (Fall 1977), pp. 5-20.), it states that I realized returns appear to be higher than expected low low-risk securities and lower than expected for high-risk securities or that the [risk-reward] relationship was far weaker than expected. He also stated that Other important studies have concluded that there is not necessarily any  stable  relationship between risk and return; that there often may be virtually no relationship between return achieved and risk taken; and that high volatility unit trusts were not compensated by greater returns. In Haugen and Heins, Risk and the Rate of Return on F inancial Assets: Some Old Wine in New Bottles,  Journal of Financial and Quantitative Analysis  (December 1975), pp 775-84) concluded that The results of our empirical effort do not support the conventional hypothesis that risk systematic or otherwise generates a special reward. These papers were published in the mid to late 70s, just as EMH and MPT were really taking off and revolutionizing the way Wall Street invested money. In year 2008 economy meltdown, lots of stocks were losing money. Yet, only a few assets classes performed well, namely gold, oil, gasses and Treasury bond. These assets classes have very low risk or volatility. Moreover, calculating beta is practically very difficult. https://www.smart401k.com/Content/Education/Smart401k/Home/advanced-retirement-investing/Modern-Portfolio-Theory.aspx https://www.efficientfrontier.com/ef/996/basics.htm https://www.investopedia.com/walkthrough/corporate-finance/4/return-risk/portfolios.aspx

The Slavery Of The United States Of America - 951 Words

Land, labor and capital become important when economically developing a country. In the attempt to develop America, African Americans and minorities have suffered greatly in finding their identity within their history and equality among those who have discovered their individualities. Slaves were usually Africans who were forced into North and South America. Slaves were built into the constitution and then creating the history of the United States of America. For example, there are three main clauses in the US constitution that pertain to race, which include the three-fifths clause Art. I Sec 2.3, importation clause Art 1 Sec 9.1(how to tax slave trade). Slavery was about the exploitation of labor, it was a way to capture blacks†¦show more content†¦Slaves were not allowed/taught to read and those who did were usually the house slaves and overseers. Nonetheless, Slaves were taught the Bible and were forced to practice Christianity into abandoning anything that uniquely that identified them as being a native of Africa. Unlike most immigrants who come to America for the â€Å"American Dream† of a better life from their homeland country, African Americans are the only race that was unwilling brought to America. However, Native Americans were exploited for their land. Native Americans were forcibly removed from the land in which they were, now known as America. Technically Native Americans had ownership and rights of the land. The Indian Removal Act was a law providing for an exchange of land with the Native Americans residing in any part of the state or territories on the east and for their removal west of the Mississippi river. Native Americans were pushed out of their lands. While traveling to new land many, if not most, American Indians died (trail of tears). Despite limited Indian reservation nations, many tribal histories have been erased. Before slaves became free, the underground railroad helped hundreds of slaves escape from slavery, some plantations rioted, such as the Nat Turner’s Rebellion, and others escaped on their own. The Fugitive Slave Act was a law implementing the return of fugitives and slavesShow MoreRelatedThe Slavery Of The United States Of America Essay1279 Words   |  6 Pages In reaction to the longstanding injustices of slavery in the United States of America, revolutionaries known as abolitionists provided and shared their philosophies and courses of action in order to lead others in joining them to dispose of the enslavement of their fellow man and woman. There were, of course, diverse viewpoints and ideas in how freeing the enslaved would go about and why it was important. Leading abolitionists, including John Brown, Angelina Grimke, William Lloyd Garrison, and FrederickRead MoreAbolition Slavery And The United State Of America859 Words   |  4 Pages In the 1840s slavery become a big issue in the United State of America. Since passing the Louisiana Purchase, the United State start expanding their land. They took over the Indian Territory by forcing them to leave the country or to relocate in the different city. The expansion of the United State leads to decide some state should be a free slave. In the 1820s, they passed a low that request 36’30 parallel are decided to be a free state. Abolition slavery becomes a question In the American societyRead MoreSlavery Issues Of Slavery Between North And South848 Words   |  4 PagesSlavery Issues The issues of slavery between North and South was indirectly the cause of the beginning of civil war. Since the North changed their minds about the black population, they had a difficult time with the South, with they believe that Africans had to serve white people. So the problem between the North and South wasn’t something new, it was happening since the government was trying to prevent spread out of the slavery across America, as a result, South started to create, manipulate, andRead MoreThe End Of Chattel Slavery Essay1648 Words   |  7 PagesLooking back in history, you will find that slavery was always present. There are accounts of slavery in Babylon, Greece, and Rome, all occurring before the Common Era; but there was a major change during the year 1619 in the way slavery was implemented. This form of slavery was known as chattel slavery. Defined as â€Å"A civil relationship in which one person has absolute power over the life, fortune, and liberty of another† (Legal-dictionary.com), chattel slavery targeted African slaves that were broughtRead MoreSlavery During The Civil War1707 Words   |  7 Pagesthe North grew. Slavery was vital to the economic well-being of the South, and when the North began to question the â€Å"peculiar institution† of the South the wall of civility between the two sectionalized areas began to crumble. Due to the growing issue of slavery in the 1850s, the United States of America was in a state of total disarray and turmoil. The tension that had always existed between the North and South over the matter of slavery was no longer ignorable. As the United States expanded to theRead MoreThe Expansion Of The New Nation1477 Words   |  6 Pagesof nineteenth century America, the new nation’s original ability to resolve conflict through means of peaceful compromise had vanished. Various spans of conflict such as Westward Expansion, the Market Revolution, Sectionalism, Mexican American War, the success ion of the southern states and ultimately the failure of the Compromise of 1850 that made compromise between the North and the South unattainable. It was the uncompromising differences amongst the free and slave states over the power of theRead MoreThe Impact Of The 1860 Presidential Election1442 Words   |  6 Pagesthe United States. He was the very first Republican to serve as president, eventually leading the Union to victory during the civil war. Lincoln opposed the idea of the expansion of slavery but acknowledged that he would not interfere with slavery where it existed. Despite this, Southern fears that slavery would soon be abolished by Republicans became a reality after Abraham Lincoln was elected president on November 6th, 1860. The election influenced the secession of numerous Southern states fromRead MoreThe Cornerstone Speech And The Thomas Nast s Cartoon863 Words   |  4 PagesThe American Civil War erupted in 1861 due to the constitutional and ideological differen ces between the Northern and the Southern states. The North advocated for equality and protection of human rights. On the other hand, the South considered the white to be more equal than the blacks. There are two historical documents that bring out the picture of the United States during the 1860s. The documents are the cornerstone speech by Alexander H. Stephens and the editorial cartoon by Thomas Nast that depictRead MoreExperiences Of Slaves During The American Civil War1528 Words   |  7 PagesExperiences of Slaves in America How did the experiences of slaves change from the 1600s to the end of the American Civil War and does it exist today? Introduction: The 1600s were full of events that helped make America what it is today. 1619 was the beginning of a revolutionary time still known as the Reconstruction period. Africans were shipped over to a country they had never been to before, and basically told how to live their lives under the enforcement of American farmers. Some thought thatRead MoreThe Slavery Of The United States1449 Words   |  6 Pages â€Å"Slavery is founded on the selfishness of man’s nature; opposition to it on his love for justice.† This saying by Abraham Lincoln tells us that people are really different when it comes to their beliefs and attitudes. Some are so focused on wealth, which is why they have slaves to work for free, and treated them as properties instead of real human beings. On the other hand, some people were against slavery because it violated the basic human rights like the right to life, liberty, and security.

Middle East Women Free Essays

Jay Sammelmann Dr. Holzhauer UI350-01 4/24/13 Women of the Middle East The women of the Middle East are very interesting to look in to. They are not just another person or treated by the same standards like they are treated here in the United States. We will write a custom essay sample on Middle East Women or any similar topic only for you Order Now There is a lot of controversy and fighting for women’s rights throughout the Middle East. They have an extreme lack of power there and they are fighting to change that. It is not right that women are such inferior people over there because they are no different than any other female in this world. Sexism plays a big role in the Middle East and the women are getting sick of putting up with this treatment. This is a big part of what I will be looking into in the research paper: â€Å"What kind of role do women play in a typical Middle Eastern society? † I will also analyze a typical Middle Eastern woman’s daily life and I will also look into their dress. There dress is unlike any other place in the world. When I see a veil, I automatically think about a Middle Eastern woman, as the veil is kind of like the symbol of Middle Eastern women’s dress. The first issue I will address when examining women in the Middle East is their rights. I have always been under the impression that women couldn’t do certain things that are freedoms in the United States, like dressing however you may wish, because of their religion. Most women’s religion over there is Islam. Actually through research I have discovered that religion is not what holds back Middle Eastern women. The Quran actually has given Middle Eastern women many important rights that even women here in the United States and the West in general didn’t have until fairly recently when you look back through history. For example, Muslim women have always been able to retain their own assets, while the property of women in England was given to their husbands once they married all the way up until 1882 (Global Connections). Also, â€Å"Muslim women in many countries kept their own last name,† which shows that the men do not just gain â€Å"property rights† over the woman when they marry (Global Connections). The Quran has a lot of proof that religion isn’t the reason that women are fighting for rights in their region. The Quran has listed many freedoms and rights that Muslim women deserve. For example, the Quran instructs Muslims to educate daughters as well as sons and it insists that women have the right to refuse a prospective husband (Global Connections). These are just a few on a long list of rights from the Quran that are overlooked when outsiders view the Middle East. Maybe the most important thing the Quran states is, that men and women are equal in the eyes of God (Global Connections). This proves that religion isn’t the reason women are mistreated, because the rights are listed in fine print inside of their holy book. The traditional culture of the Middle East is the bigger problem with regard to women’s rights in this region, not religion. While women in the Middle East don’t have the fairest rights, they also have had more leadership positions than you may think as well. In particular there have been a fair amount of female political leaders in Muslim societies. Maybe the most important women were those who were the sisters of the Prophet Muhammad. They were extremely important to the early Muslim community because they knew his practice and teachings so well (Global Connections). Muhammad was the most influential person to ever come out of the Middle East, so it was crucial that his practice and teachings be passed on to further generations. Muhammad’s sisters weren’t the only powerful political figures over time in this region. Also, Aisha who is known as the favorite wife of Muhammad was also very influential. Something interesting about her was that she even participated in the Battle of Camel in 656 (Global Connections). Aisha wanted justice on the perpetrators of the assignation of the previous caliph, Uthman (Wise Muslim Women). A women leading in battle was never really seen before and isn’t seen very often today either. This demonstrates the importance of Aisha in Middle Eastern history. Another influential woman in the history of the Middle East was Shajarat al-Durr. She firmly established the Mamluk dynasty that would ultimately repulse the  Mongols, expel the  European  Crusaders  from the  Holy Land, and remain the most powerful political force in the  Middle East  until the coming of the  Ottomans (Wise Muslim Women). Some other female political figures over time in the Middle East are the Sultanate of Women in the Ottoman Empire during the seventeenth century was a period when several women had enormous power over affairs of the state (Global Connections). Today there is a small, but growing number of women in the parliaments of Turkey, Egypt, Jordan, and Lebanon (Global Connections). In Morocco women have secured 60 out of 395 seats, which may not sound like much, but that is fifteen percent of Parliament (Basch-Harod). The women’s movement campaign’s goal was to secure thirty percent of Parliament, but fifteen percent is a respectable start (Basch-Harod). It is encouraging to see that women are making a difference today as well. Although their contributions may not be the greatest, it’s great to see they are at least getting their foot in the door. These are just a few political leaders throughout time. This shows that women have the ability to gain power in the Middle East if they are put in the right situation. Not only were there some influential political leaders that were women, but there are also some powerful religious leaders as well. One female religious leader that has made a big impact is Rabia. â€Å"She was a freed slave who became a prominent scholar in the eight century city of Bara in Iraq† (Global Connections). Rabia was the person who first articulated the tenants of Sufism, which is a critical branch of Islam that emphasizes mysticism and a person’s personal relationship with God (Global Connections). She proved to be very influential as she never ended up marrying anyone citing that she didn’t want any distractions from her love for god. Rabia was looked up to by many people in the Islam community. A couple other important role models in the Islam community include Fatima, who was the prophet of Muhammad’s daughter and Zaynab who was the prophet’s granddaughter (Global Connections). This shows overall that women have been able to attain some power and have influence throughout time. I feel like the view of Americans is that women hardly even exist in the Middle East region. While they may not have the same rights and aren’t treated as well as they are here in the United States today, they have proven to have more influence throughout history than many women. Many women in the United States didn’t have any influence until the 1800s. Women have made significant strides and impacts in the Middle East for many centuries now, which is something to consider before you label Middle Eastern women as virtually nonexistent. One of the first things one notices about a Middle Eastern woman is their choice of clothing. The veil is kind of a symbol of Middle Eastern women. When I see a woman in a veil around campus and all covered up from head to toe, I automatically think it is a Middle Eastern woman. The hijab is the most common type of veil worn by Middle Eastern women. This has either one or two scarves covers the head and neck of the woman (Civic Dilemmas). This is an example of Middle Eastern woman’s modest dress. A few more styles of dress are the niqab, the chador, and the burqa. The niqab covers the entire body, including the head and face, while just leaving an opening for the eyes to see. These niqabs are very popular amongst the Muslim world in general (Civic Dilemmas). The chador is a full body length shawl that is held together at the neck by a pin and it leaves the face completely visible. This type of dress is most common in the Middle East, specifically in Iran, as compared to the rest of the world (Civic Dilemmas). The last style of dress I will explain is the burqa, which is a full body veil. The woman’s entire face and body is covered and she has to see through a mesh screen over the eyes (Civic Dilemmas). One will see this type of dress most commonly in Pakistan and Afghanistan. Actually for five years in the late 1990s and early 2000s the Taliban regime the use of a burqa was mandated by law (Civic Dilemmas). I don’t think that countries should force anybody to dress a certain way, but I am spoiled by the freedom that I have here in the United States. This just goes to show you how lucky we have it as Americans, that some people like in the Middle East are forced to wear certain clothes. How to cite Middle East Women, Papers

Debut Albums and Good Luck free essay sample

Farewell Speech 1 Good morning, everyone. Today Is a big day, because our dear big brothers and big sisters are leaving. We are very happy but also sad, we are very lucky to meet all of you, we enjoyed studying, playing, talking and singing together. And now you are leaving, we will remember the good time we ever had. Thank you for always helping us, you are going to elementary school, we will miss you very much, please come back to play with us, to your futures. We would like to say big brothers and big sisters, GO! GO! GO! Take care and good luck, thank you. Farewell Speech 2You all have been my friends for 2 years and I must say Im sad to see you go. I hope you find new friends in school, but dont forget about your old friends, K? I love you all and hope that school Is fun for you. Next year, I will come to school, too. Then we can all play and study together again. Farewell Speech 3 Its hard to say goodbye. It is sad that some of us will not be coming back next year. But, very very soon we will all meet up In elementary school. So you guys, keep our seats warm, k? We will miss you. And we wont forget about you. Dont forget us, K? Remember that even IfFarewell Speech 4 Congratulations, friends! You worked every hard for this day. We studied, sang and played together. Good luck In the future. Congratulations and goodbye! Farewell Speech 5 Dear big brothers and big sisters: Congratulations! We are so proud of you that you are going to first grade. Today is your graduation day. Its hard to say goodbye! We wont forget the happy days we learned and played together. Good luck and keep It up for the new school. You have our best wishes. Farewell Speech 6 Hello, everybody: We are here today to say goodbye to those of you that are leaving us.We are sad but know that life will treat you well. We hope you will enjoy your school life. We will miss you and please dont forget us. We hope to see you again. Good luck and best wishes. Farewell Speech 7 Dear everyone: We are sad that some of you are leaving soon. But yet, we are happy to see you turning over a new leaf. We hope you will enjoy your new school and have good teachers taking care of you. We will miss you and please dont forget us. If you have time in the future, please do come and visit us. Good luck and best wishes. Farewell Speech 8 Hello, everyone: Its time to say goodbye again.Congratulations older schoolmates! You are going to start a new life and we know that life will treat you well. We hope that you will enjoy your school life and learn as much as you can from your teachers and classmates. Good luck to you all. Valedictorian Speech 1 Wow! Im so happy today. Today we are graduating! I love you, Mommy and Daddy, you are my best friends. I love you, Teachers and Principal, you are the best in the world. I love you, Classmates. I will miss you. So hurry up and Join us at school, K? Always remember: Believe in yourself! You will make it! Yeah!! Valedictorian Speech 2Wow! It is 2007! Graduation day is finally here! I feel so happy and excited. First let me say Thank you. Without the love from Dad and Mom, my teachers, and the principal, I could never have done it. Thanks my friends! I will never forget you. This year we will start first grade. Im happy and scared, and I know somehow, we will make it. Good luck my friends! Work hard, play hard and love life! Congratulations to us all!! Valedictorian Speech 3 We say good bye to the friends we made. Good luck to you! Side by side, we learned, laughed and grew. We will miss all of our teachers and friends. I know well meet again. Good luck, everyone and goodbye! Valedictorian Speech 4 to say. First, we want to say thank you to our principal and teachers. Thank you, principal, for your guidance. Thank you, teachers, for helping us to learn. Last, we want to say thank you to our schoolmates. Thank you for the good times and the wonderful memories we have shared. Its hard and sad to say goodbye to you all. Farewell, everyone. We will miss you all. Valedictorian Speech 5 Dear principal, teachers, Mom and Dad: Good evening. Today is our graduation day, and we are here to say thank you to all of you.First, wed like to say thank you to our principal and teachers. Thank you for your patience and guidance. You teach us manners and we have learned a lot from you. Thank you for everything you have done. Now, wed like to say thank you to our moms and dads. Thank you for taking care of us every day. Last, wed like to say thank you to our moms and dads. Thank you for taking care of us every day. Last, wed like to say thank you to our friends. Thank you for the good times we spent together. We wont forget any of you. Now lets say goodbye to each other. Farewell, everyone. Goodbye. Valedictorian Speech 6Good morning, dear Principal, teachers and everybody here. Today is our graduation day, and we have a lot to say. First, we would like to say thank you to our Principal and teachers. Thank you for teaching us and taking good care of us. We also would like to say thank you to our parents. Thank you for sending us to this warm and lovely place. Last, we would like to say thank you to our schoolmates. Thank you for the good times and the wonderful memories we have shared. Goodbye, Principal. Goodbye, teachers. Goodbye, my dear younger schoolmates. We know we will always love each other, through the good and the bad.We promise we will remember you forever and we give you our best wishes. And now let us say Goodbye to our Kindergarten. Goodbye. Goodbye. Valedictorian Speech 7 Dear Principal and teachers, dear Mom and Dad, we are here to thank you all for taking care of us so well. Thank you, Principal; thank you, teachers. Thank you for your patience and guidance. Thank you, Mom; thank you, Dad. Thank you for bringing me here day after day. Today is our graduation day, so lets celebrate and shout hurray. Please do not cry, or wipe our tears, because we will always remember the good time we had here.