EĞǁƐ
WĂŐĞƐ ϮͲϯ
&ĞĂƚƵƌĞƐ WĂŐĞƐ ϰͲϱ
0$< ¶
ĚŝƚŽƌŝĂů WĂŐĞƐ ϲͲϳ
ĞŶƚĞƌ ^ƉƌĞĂĚ WĂŐĞƐ ϴͲϵ
KƵƌ tŽƌůĚ WĂŐĞ ϭϬͲϭϭ
ŶƚĞƌƚĂŝŶŵĞŶƚ WĂŐĞ ϭϮͲϭϯ
^ƉŽƌƚƐ
WĂŐĞƐ ϭϰͲϭϱ
VSRW OLJKW d,
sŽůƵŵĞ >s /ƐƐƵĞ ϲ
/ŶƚŚŝƐ
ŝƐƐƵĞ
EĞǁƐ Ͳ^ŽƵƚŚĞƌŶ >ĞŚŝŐŚ dĂŬĞƐ Ă ^͘d͘ ͘E͘ ͘ ͘ Ͳ ĂƚƐ WƌŽĚƵĐƟ ŽŶ dĂŬĞƐ ,ŽŵĞ ŝŐŚƚ EŽŵŝŶĂƟ ŽŶƐ ĨŽƌ &ƌĞĚĚLJ ǁĂƌĚƐ
&ĞĂƚƵƌĞƐ Ͳ^ĞŶŝŽƌ ŝŽŐƌĂƉŚŝĞƐ Ͳ W džĂŵƐ ŽŶƐƵŵĞ ^ƚƵĚĞŶƚƐ Ͳ^ĞŶŝŽƌ tĞĞŬ
ĚŝƚŽƌŝĂů Ͳ^ĞŶŝŽƌ ^ĞŶĚͲŽī Ɛ ƚŽ hŶĚĞƌĐůĂƐƐŵĞŶ ͲhŶĚĞƌĂŐĞ 'ĂŵďůŝŶŐ͗ ŽůůĞŐĞ ĚŵŝƐƐŝŽŶƐ ͲDŽƟ ǀĂƟ ŽŶ ƚŚƌŽƵŐŚ ŽŵƉĞƟ Ɵ ŽŶ
ŶƚĞƌƚĂŝŶŵĞŶƚ
Ͳ^ĞŶŝŽƌ &ĂǀŽƌŝƚĞƐ ĨƌŽŵ ,ŝŐŚ ^ĐŚŽŽů
^ƚƵĚĞŶƚƐ ͞ ĂŶĐĞ hŶƟ ů ƚŚĞ tŽƌůĚ ŶĚƐ͟ ďLJ ŽƌŝŶŶĞ ZĞŶŶĞƌ
6RXWKHUQ /HKLJK XSSHUFODVVPHQ Á RFNHG WR %HDU &UHHN 6NL /RGJH RQ 6DWXUGD\ 0D\ WR FHOHEUDWH WKH HYHQW RI WKH VHDVRQ SURP 7KLV PXFK DQWLFLSDWHG IRUPDO RFFDVLRQ LV XQOLNH DQ\ RWKHU KLJK VFKRRO HYHQW 7KLV \HDU SURP ZDV XQGHQLDEO\ VXFFHVVIXO ODUJHO\ GXH WR WKH HQWKXVLDVWLF FRPPLWWHH WKDW GH VLJQHG WKH HYHQW 7KH PXVLF GHFRUDWLRQV DQG JRRG FRPSDQ\ PDGH IRU DQ XQIRUJHWWDEOH QLJKW
KRZHYHU PDQ\ VWXGHQWV FKRVH WR HQWHU WKH ERRWK ZLWK WKHLU FORVH IULHQGV 3URP LV DQ XQIRUJHWWDEOH QLJKW IRU PDQ\ UHDVRQV )RU PRVW VWXGHQWV WKLV HYHQW LV RQH RI MXVW D IHZ ZKHUH WKH\ FDQ GUHVV XS DQG IHHO OLNH VRPHRQH ELJJHU WKDQ D WHHQDJHU :KLOH JX\V PD\ VSRUW VLPLODU WX[HV WKH JLUOV JR DOO RXW )URP ORQJ EDOO JRZQV WR VKRUW EDOOHULQD GUHVVHV JLUOV HQMR\ SURP WR WKH IXOOHVW 7KH H[FHVVLYH WDQQLQJ QDLO DQG KDLU DSSRLQWPHQWV DOO FRPH WRJHWKHU WR FUHDWH VRPHWKLQJ EHDXWLIXO ,W·V QR ZRQGHU ZK\ IDFHERRN LV Á RRGHG ZLWK WKRXVDQGV RI SLFWXUHV IURP WKLV HYHQW 3URP LV PDQ\ WKLQJV 7KHUH·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Á RFN WR WKH %HDU &UHHN GDQFH Á RRU 3KRWR FRXUWHV\ RI &RULQQH 5HQQHU EH FURZQHG 7KLV \HDU WKH SURP NLQJ DQG TXHHQ ZHUH .\OH 7KH FRYHWHG YHQXH %HDU &UHHN 6NL /RGJH LV D FODVVLF 'XULFV DQG &RXUWHQH\ &R[ 7KLV LV WUXO\ D WHVWLPRQ\ WR WKHLU ORFDWLRQ WKDW FRPELQHV WKH FR]\ KRPH\ IHHO RI D ORGJH ZLWK VWURQJ FKDUDFWHU DQG IULHQGOLQHVV DPRQJVW WKH VWXGHQW ERG\ EUHDWKWDNLQJ VFHQHU\ WR FUHDWH D WUXO\ PHPRUDEOH H[SHULHQFH ,Q WKH SDVW SURP KDV EHHQ KRVWHG E\ KRWHOV RU RWKHU UHODWLYHO\ ORFDO HYHQW KDOOV 6WXGHQWV UDYHG DERXW %HDU &UHHN ´, UHDOO\ OLNHG KRZ \RX FRXOG JR RXWVLGH DQG WKHUH ZDV SOHQW\ RI URRP IRU HYHU\RQH µ UHPDUNHG VHQLRU 0DU\ &ROHPDQ 6WXGHQWV ZHUH JUDQWHG SHUPLVVLRQ WR HQMR\ VRPH IUHVK DLU RQ WKH ORGJH GHFN DQG ZDWFK WKH VXQ VHW RYHU WKH PRXQWDLQ KRUL]RQ (YHU\ \HDU WKH MXQLRU FODVV RIÀ FHUV DUH DVVLJQHG WKH WDVN RI RUJDQL]LQJ WKH VSULQJ SURP 7KHVH VWXGHQWV DORQJ ZLWK RWKHU HDJHU YROXQWHHUV WDNH FKDUJH RI EXGJHWLQJ DQG PDQDJLQJ WKH HQWLUH HYHQW 7KLV \HDU WKH FRPPLWWHH UHDOO\ RXWGLG LWVHOI 6WXGHQWV ZHUH H[WUHPHO\ SOHDVHG ZLWK WKH GHFRUDWLRQV JLIWV DQG IRRG ´7KH IRRG ZDV LQVDQH 7KH PDF DQG FKHHVH ZDV P\ IDYRULWH µ H[FODLPHG VHQLRU %UXFH %DFND 7KH IRRG UHFHLYHG D JUHDW GHDO RI SRVLWLYH IHHGEDFN IURP WKH VWXGHQW ERG\ 7KH FDWHUHUV SURYLGHG D ODUJH YDULHW\ RI KHDOWK\ GHOLFLRXV IRRG WKURXJKRXW D VHULHV RI FRXUVHV 7RZDUGV WKH HQG RI WKH QLJKW 3URP .LQJ .\OH 'XULFV DQG 3URP 4XHHQ &RXUWHQH\ &R[ SRVH ZLWK WKHLU FURZQV WKHUH ZDV HYHQ DQ LFH FUHDP EDU :LWK VR PDQ\ DYDLODEOH RS DWRS WKHLU KHDGV 3KRWR FRXUWHV\ RI &KULVWPDV &LW\ 6WXGLRV WLRQV QR VWXGHQW OHIW SURP KXQJU\ RU XQVDWLVÀ HG 3URP RFFXUV RQO\ RQFH D \HDU 6WXGHQWV WDNH WKH RS 2QH RI WKH PRUH SRSXODU DGGLWLRQV WKLV \HDU ZDV WKH LQFOXVLRQ RI DQ H[SHQVHV SDLG SKRWRERRWK 6WXGHQWV KDG WKH RS SRUWXQLW\ WR PDNH DQ LPSUHVVLRQ DW WKLV HYHQW :KHWKHU LW LV E\ SRUWXQLW\ WR ZHDU DQ DVVRUWPHQW RI IXQN\ KDWV DQG ERDV DQG ZHDULQJ WKH PRVW EHDXWLIXO GUHVV RU GDQFLQJ ZLWK WKDW GHVLUHG WDNH IXQQ\ SKRWRV 7KLV ZDV SDUWLFXODUO\ SRSXODU IRU FRXSOHV FUXVK HYHU\RQH VHHNV DQ XQIRUJHWWDEOH H[SHULHQFH
ͲhƉĐŽŵŝŶŐ &ŝůŵƐ ŝŶ dŚĞĂƚĞƌƐ
^ƉŽƌƚƐ
Ͳ ŽůůĞŐŝĂƚĞ ƚŚůĞƚĞƐ Ͳ^ŽƵƚŚĞƌŶ >ĞŚŝŐŚ >ĂĐƌŽƐƐĞ Ăƚ >ĂƌŐĞ
$Q DVVRUWPHQW RI VHQLRU JLUOV SRVH IRU WKHLU ODVW SURP 3KRWR FRXUWHV\ RI $QQ /\FHWW