&(
;OL =HUJV\]LY .HTLZ ZH^ MVYTLY )YP[PZO ZRLSL[VU YHJLY (T`
^PU )YP[HPU»Z MPYZ[ ZVSV >PU[LY 6S`TWPJZ .VSK TLKHS MVY `LHYZ :OL
WYHJ[PZLK `VNH KHPS` [OYV\NOV\[ WYLNUHUJ` YPNO[ \W \U[PS SHIV\Y KH`
JOPSKJHYL 6UL UPNO[ 0 ^HZ \W MLLKPUN
6ZJHY HYV\UK HT ZJYVSSPUN [OYV\NO
0UZ[HNYHT MVY PKLHZ HUK 0 JHTL HJYVZZ
H NYV\W JHSSLK )H[O @\TT` 4\TTPLZ
;OL`»YL H NYV\W VM SPRLTPUKLK T\TZ
^OV TLL[ [V L_LYJPZL HUK IYPUN [OLPY
IHIPLZ HSVUN PU [OLPY WYHTZ VY JHY ZLH[Z
0 ^LU[ HSVUN [V H JSHZZ HUK P[ ^HZ WLYMLJ[
0 SV]LK [OL MHJ[ [OLYL ^HZ UV WYLZZ\YL ¶
`V\ JV\SK Z[VW [V MLLK VY JVTMVY[ `V\Y
IHI` ^OLU `V\ ULLKLK [V ¶ HUK 0 UL]LY
MLS[ Q\KNLK MVY ILPUN HU H[OSL[L ^OV
^HZU»[ PUZ[HU[S` IHJR PU ZOHWL
0 [YPLK Y\UUPUN H[ HIV\[ ^LLRZ
HUK P[ ^HZ [VV ZVVU HUK [OH[ ^HZ
62 0[ ^HZ NYLH[ [V OH]L [OH[
ZPZ[LYOVVK MVY Z\WWVY[
HUK LUJV\YHNLTLU[»
2=H2JD 92G6
8@2=D
º4` NVHS PZ [V NL[ IHJR [V WLHR MP[ULZZ
ILMVYL ^L Z[HY[ [Y`PUN MVY IHI` U\TILY [^V
0 ^HZ HIV\[ [V NV VU5PUQH >HYYPVYI\[ 0
ZWYHPULK T` HURSL IHKS` PU [YHPUPUN ^OPJO
^HZ MY\Z[YH[PUN (UK 0 ^HZ K\L [V [HRL
WHY[ PU [OL 9PKL 3VUKVU J`JSL L]LU[ [OPZ
Z\TTLY I\[ T` IHJR KPKU»[ SPRL P[ 0 ^PSS MPUK
H UL^ JOHSSLUNL HZ ZVVU HZ T` HURSL PZ
IL[[LY 0»T UV^ [YHPUPUN H[ +PVU ;YPNN»Z N`T
HUK [OH[»Z ]LY` T\JO H 5PUQH >HYYPVYZ[`SL
ZL[ \W OL»Z H MVYTLY JVU[LZ[HU[ ([ MPYZ[
[OV\NO ZL[ [PU` NVHSZ 4H`IL Q\Z[ [V NL[
V\[ZPKL L]LY` KH` [OLU ^HSRPUN HYV\UK [OL
ISVJR [OLU HKK MP]L TPU\[LZ H KH`»
5@?|E 36 2
AFD9J A2C6?E
º4` WHYLU[Z ^LYL UL]LY W\ZO`" [OL` Q\Z[
Z\WWVY[LK T` PU[LYLZ[Z HUK OLSWLK TL
HJOPL]L T` NVHSZ 6ZJHY SV]LZ ILPUN
V\[KVVYZ HUK HJ[P]L HSYLHK` ZV ^L»SS
KLMPUP[LS` RLLW [OH[ \W HZ H MHTPS` 0»K
SV]L OPT [V IL ZWVY[` I\[ ^L»SS ZLL
^OH[ OL ^HU[Z [V KV 0M JOPSKYLU NL[ [OL
JOHUJL [V [Y` SV[Z VM ZWVY[Z [OL`»SS MPUK
[OLPY V^U ^H`»
{:
%)% %
)),
&) %
/
+)
&) )% $
-.& )%. -
&%)& ) -
&"
-&
%) -) . & &%
- ' )& )% -&
#+&) )) $ &).
), )%++)" $,
&+&) ) +%&
)%++) . %%
)& %)& &
%) .%& $,
. ) )% .
."
) )& + %.
%)& ,%. . %) +
+)
%)" & +)
+) * -& &-)
) -%- - ) )
) +%)
-
) + ) -%
& $ ) % %+
-)
+!" $ &+%
&). ) ), +%
%. %.
-) )
%)"$
E2<6 J@FC E:>6
º0 JV\SK IHYLS` ^HSR MVY [^V [V [OYLL ^LLRZ
HM[LY OH]PUN 6ZJHY SL[ HSVUL L_LYJPZL 0
OHK SV[Z VM PU[LYUHS HUK L_[LYUHS Z[P[JOLZ
HUK 0 ULLKLK [V OLHS ([OSL[LZ HS^H`Z W\[
WYLZZ\YL VU [OLTZLS]LZ I\[ 0 RUL^ 0 OHK
[V SPZ[LU [V T` IVK` HUK UV[ W\ZO [VV OHYK
0 \ZLK [V OH]L H ZP_WHJR I\[ WYLNUHUJ`
SLM[ TL ^P[O ZPNUPMPJHU[ HI ZLWHYH[PVU
7LVWSL L_WLJ[ `V\ [V ZWYPUN IHJR PU[V
ZOHWL ^OLU `V\»YL PU [OL W\ISPJ L`L I\[
[OL YLHSP[` PZ `V\»YL L_OH\Z[LK `V\»YL \W
HSS UPNO[ ¶ P[»Z OHYK 0»K ZH` P[ ^HZ TVU[OZ
ILMVYL 0 YLHSS` MLS[ SPRL TL HNHPU ;OL` ZH` P[
[HRLZ UPUL TVU[OZ [V NYV^ H IHI` HUK H[
SLHZ[ UPUL TVYL [V NL[ `V\Y IVK` IHJR @V\
OH]L [V YLJV]LY ZV KVU»[ Y\ZO P[»
6>3C246 J@FC
>:?: H@C<@FE
3F55J
º0»T ZLSMLTWSV`LK ZV 0 OHK UV TH[LYUP[`
SLH]L 0 ^HZ IHJR [V T` ^VYR HZ H
WYLZLU[LY HUK ZWLHRLY HUK 6ZJHY JHTL [VV
S\JRPS` 0 OHK T` T\T MVY Z\WWVY[ HZ ^LSS
;OL IPNNLZ[ JOHSSLUNL [V MP[ULZZ WVZ[
WHY[\T ^HZ RUV^PUN ^OH[ [V KV ^P[O
6ZJHY ¶ [OLYL ^LYL UV N`TZ ULHY TL ^P[O