Understanding which of the two forms of investing would benefit your finances the most

As an investor, be a newbie or not, you would have often heard to always keep track of what you own and to take stock of your assets.

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Another such advice would be to learn as much as you can about passive and active investing basic but simple investment strategies we explore in depth here.

If you are just starting out in your investment journey like with anything new what you would first need is a strategy on how to go about it.

If youre involved in this debate, theres really no perfect answer as to whether either of these strategies is intrinsically better. Instead, each investors individual circumstances will shed light on which is the more beneficial choice for them.

What is active and passive investing?

Active investors purchase investments and continuously monitor their activity to exploit profitable conditions.

On the other hand, passive investing broadly refers to a buy-and-hold portfolio strategy for long-term investment horizons, with minimal trading in the market.

Index investing is perhaps the most common form of passive investing, whereby investors seek to replicate and hold a broad market index or indices.

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Now that we have got a rough idea of the two, lets now break each of them down and analyze which one would benefit you the most.

Unlike passive investors, who invest in a stock when they believe in its potential for long-term appreciation, active investors typically look at the price movements of their stocks many times a day.And most of the time, active investors are seeking short-term profits.

Perks to active investing

For example, during the height of the 2008 financial crisis, investment managers could have adjusted portfolio exposure to the financial sector to reduce their clients risk in the market.

Active investing allows money managers to meet the specific needs of their clients, such as providing diversification, retirement income or a targeted investment return.

In doing so, a manager chooses from several investing strategies to ensure the goal is met, which cannot then be compared to a benchmark.

Investors can use active investing to take advantage of short-term trading opportunities. Traders can use swing trading strategies to trade market ranges or take advantage of the momentum.

Stock prices oscillate for the majority of the time which creates many short-term trading opportunities.

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Active investing can be costly due to the potential for numerous transactions. If an investor is continually buying and selling stocks, commissions may significantly impact the overall investment return.

Charges: Key risks associated with active investing

Active management fees can range from 0.1 per cent to over 2 per cent of assets under management (AUM).

Active money managers may also charge a performance fee between 10 per cent and 20 per cent of the profit they generate.

Active funds also often set minimum investment thresholds for prospective investors. For example, a hedge fund might require new investors to make a starting investment of $250,000 (Dh918,262).

Passive investing methods seek to avoid the fees and limited performance that may occur with frequent trading. Also known as a buy-and-hold strategy, passive investing means buying a security to own it long-term.

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Passive investing is, as touched upon earlier, the better investment option among the two strategies for most individuals. That, of course, doesn't mean it will yield the best returns.

On the contrary, it means when other investing unknowns are taken into consideration, it's currently the most reliable method to yield the most stable results.

Benefits of passive investing

It is an investment choice that costs below 1 per cent annually to own. Without having a manager to make frequent changes, the middle-man expense is cut off.

In short, this means youll lose less of your returns to management.

ETFs and mutual funds are staples of passive investing portfolios. They all also have a couple characteristics in common: professional management and inherent diversification.

When you invest in stocks, bonds or any other security on a singular basis, its up to you to choose which ones you want and when to buy and sell them.

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But because investment professionals manage the aforementioned trio of funds, youll reap the rewards of strong diversification and asset allocations without getting your hands dirty.

You do this by not putting all of your eggs in one basket and diversifying. Using mutual funds or ETFs that accurately track an index you are investing in you are investing in the entire market.

By not using actively managed funds for most investment choices, you are not actively trading. This not only means less effort, it also means less prone to short-term fluctuations.

What are the downsides to passive investing?

So while the overall performance of these funds dictates your eventual returns, the investment decisions are not under your control.

Thus, this lack of customization and flexibility could leave passive investors feeling like theyre not involved enough in the overall management of their money.

However risky as it may be, passive investing technically has less return upside than strategies that look to beat the market through stock-picking and recurring trades.

In return for this trade-off, though, passive investors regularly see slow and sustained growth.

What this decision ultimately comes down to is your risk tolerance, which is your ability to stomach volatility in the hopes of higher returns.

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While no equity-focused investment approach can be called safe, a portfolio more focused on matching market returns is safer than one seeking to beat or time the market.

On the other hand, if risky investing is within your means, an active portfolio could be more fitting.

Your investment goals matter!

For example, lets say theres a 25-year-old who wants to buy a home over the next few years and a 30-year-old whos saving for retirement. The investments they should make are drastically different.

Because the future homeowner is closing in on his or her goal, he or she might consider high-risk, high-reward investments.

Retirement is far away for the 30-year-old, though, allowing this person to stick to passive investing if he or she so chooses.

If you want an actively-managed portfolio, know that you will encounter more fees than a passive investor will.

Because active management calls for consistent trades to beat the market, youll likely spend a significant amount in transaction fees. Passive investors prefer to buy and hold securities, lowering their extraneous costs in the process.

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But keep in mind, before investing any money in the market, you should take some time to learn about the strategies that will suit you best.

So although passive investing has comparatively more perks, that doesnt mean its the right strategy for everyone.

What investing style benefits the average retail investor?

Especially in an uncertain economy, active funds will perform better than the broad market.

The logic is simply that a basket of stronger companies, cherry-picked by fund managers, is likely to perform better than the broader markets, irrespective of the economy.

If you consider any relevant markets inefficiency, there are a lot of opportunities here that can be capitalized upon by active managers.

Most good-quality actively-managed funds have a standard deviation lower than that of their benchmark index.

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Contrary to popular perception, market volatility can be a blessing for the active fund manager by throwing up opportunities to pick quality stocks at attractive valuations.

Many businesses that appear over-priced at one point will be available at very attractive valuations at another.

Suppose the value of a company gets eroded by 10 per cent, but if the fall in its stock price is 30 per cent, the fund manager entering it enjoys a 20-percentage point margin of safety. Bigger the margin of safety, safer the investor is.

Passive investing too has its place for a retail investor

According to the latest S&P Indices Versus Active report, many categories of active funds are, on an average, underperforming their benchmarks even over the long-term.

While passive funds cant give you market-beating returns, they dont underperform either (or do so only by a small margin, called the tracking error).

Moreover, while a small proportion of active fund managers will always beat their benchmarks, predicting in advance who among the hundreds operating in the mutual fund universe will do so is a very difficult task.

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Also, returns of active fund managers tend to oscillate. A fund manager who was a top performer over the past five years may not remain so over the next five years.

Moreover, the index is created by independent index providers using transparent rules. Theres no fund manager bias in indexing, as happens in active investing. It also comes with advantages like low cost and diversification.

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Breaking down the importance of active and passive investing strategies in day-to-day finance - Gulf News

WASHINGTONFollowing months of lockdown due to the Covid-19 pandemic, an angry mob of heavily armed self-help gurus reportedly demanded Tuesday that Americans reopen their hearts. Its time for U.S. citizens to find a way to look inwards and embrace their own divinity or face the inevitable consequences, said an AK-47 toting Bren Brown, wielding her weapon and threatening untold violence if the nation didnt immediately allow itself to be vulnerable in an effort to accomplish its goals. Our founding fathers created this country as a haven away from that little voice in your head that says No. Frankly, its unconstitutional to deny others a glimpse of your true inner self. We will uphold the American ideal of love and acceptance with blood if necessary. At press time, Marianne Williamson slammed a magazine into her FN SCAR and vowed to unleash hell on Earth until the nation welcomed the healing power of crystals.

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Heavily Armed Self-Help Gurus Demand America Reopens Their Hearts - The Onion

What Is IT Service Management?

IT service management includes the actions performed by an organization to design, deliver, implement and control its IT services for end users. ITSM takes a proactive approach to IT, focusing more heavily on the end-users needs as opposed to those of IT systems and emphasizing continuous improvement.

Without good ITSM, an organizations efficiency and productivity can fall by the wayside which is where modern, software-based tools like ServiceNow can come in handy. These solutions can help an organization maintain primary IT functions, such as a service desk, while simultaneously taking a broader view to its IT processes.

You must consider the various dependencies and links across ITSM and IT processes, even if there is no pressing need to do so, Mike Roberts, marketing manager for CDW, writes in a recent blog post. Such big-picture thinking will be invaluable for future enhancements or should an unforeseen problem arise.

From streamlining existing processes to mitigating risk, quality ITSM in healthcare can help organizations regain control over IT costs while improving patient care. Take Novant Health, for example.

The Winston-Salem, N.C.-based healthcare system runs its IT management platform on top of ServiceNow. Using the Software as a Service-based tools as its service-delivery platform, the organization set out to reduce the amount of human error involved with IT and break down the silos impeding quality customer service for its staff and clinicians.

Novants main goal: Elevate the level of service that the health system could provide via the help desk wherever possible and drive quicker resolutions.

We try to be as proactive as we possibly can in how we service our infrastructure within our facilities, says James Kluttz, vice president and CTO for Novant, whether it be a physician practice, a corporate facility or an acute care facility.

In the past year, Novant has enhanced its model significantly. The organization previously ran a telephonic approach, where staffers were required to call in, talk to an agent and report their incidents. Now, the company has been able to introduce chat capabilities to eliminate hold times for end users, allowing them to spend more time with patients and perform their jobs in the most effective way possible.

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ITSM Tools in Healthcare: How ITSM solutions Are Assisting in Healthcare - HealthTech Magazine

STOCKTON The San Joaquin County Continuum of Care has released its housing project report.

The report requested and developed by the Shelter Subcommittee shows the ongoing development of permanent housing for the homeless in the geographic area of the SJCoC. The committee hopes to provide insight into the work of local agencies creating permanent housing exits from local shelters, an integral component of any effective system intended to make homelessness rare, brief and non-recurring.

Title of project: progressive housing

Location: scattered sites in Stockton and Lodi

Project Type: transitional housing

Beds: 60

Estimated completion: 50 beds available now; 10 more by June 30

Funded with MHSA Innovation Funds

Operated by Stockton Self-Help Housing under contract with BHS

Eligibility limited to individuals with serious mental illness, placed and case managed by BHS

Title of project: New Life Overflow Housing

Location: 204 E. Sonora St., Stockton

Project Type: transitional housing

Beds: 12

Estimated completion: July 1

Part of a two-year program for homeless men, women and women with children

Title of project: project-based housing

Location: 448 S. Center St., Stockton

421 S. El Dorado St., Stockton

35 W. Park St., Stockton

Project Type: permanent supportive housing

Units: 14 units 448 S. Center St.

12 units 421 S. El Dorado St.

11 units 32 W. Park St.

Estimated completion: July 22 for 448 S. Center St. and 35 W. Park St.

Funded with MHSA Funds

Developed by Housing Authority of San Joaquin, under contract with BHS

Eligibility limited to individuals with serious mental Illness, placed and case-managed by BHS

Title of project: Turnpike Commons

Location: 1630 Turnpike Road, Stockton

Project Type: Permanent Supportive Housing

Units: 9

Estimated completion: October 2020

Funded primarily by HEAP and CDBG

Innovative local partnership to create direct exits from shelter

Uses manufactured product to reduce costs and expedite construction

Title of project: New Life Womens Home

Location: 403 S. San Joaquin St., Stockton

Project Type: transitional housing

Beds: 118

Estimated completion: Nov. 1, 2020

Part of a two-year program for homeless women and women with children

Converts the former Alustiza Hotel & Restaurant

Title of project: Shelter Plus Care-Combined Expansion

Housing Location: scattered sites throughout San Joaquin County

Project Type: permanent supportive housing beds for the "chronically homeless"

Beds: 21

Estimated completion: end of 2020

Funded with Continuum of Care Program Competition Bonus funds

Title of project: permanent housing for the homeless

Location: Five locations in southeast Stockton

Project Type: permanent housing

Beds: 21

Estimated completion: November 2020December 2021

Partnership including Dignity Health and San Joaquin County Whole Person Care

Title of project: New Life Mens Home

Location: 429 S. San Joaquin St., Stockton

Project Type: transitional housing

Beds: 178

Estimated completion: January 2023

Part of a two-year program for homeless men

Two old Victorian campus structures comprising 4 addresses

The report provides information only on projects serving the homeless that are currently underway within San Joaquin County; projects in the planning phase and projects not specifically intended to serve the homeless are not included. It is also important to note that this report includes only those responses from organizations indicating their interest in being included. Completed projects are also not included.

To review the 2019 San Joaquin County Housing Inventory Count Report detailing capacity in existing ongoing local shelter and homeless housing projects, visit the Department of Housing and Urban Development website at https://www.hud.gov/.

Contact reporter Bob Highfill at (209) 546-8277 or jhighfill@recordnet.com. Follow him on Twitter @bobhighfill.

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SJs Continuum of Care releases housing project report - Stockton Record

After weeks of protests, African American observers can reasonably conclude that the expenditure of time and resources will result in few substantive changes. And even more dismaying, that the Black Lives Matter rallies have degenerated into a form of street therapy for previously homebound white liberals. So, the aftermath may provide an opportunity to question the purpose of the leading organization of black politics, the Congressional Black Caucus (CBC).

Founded about 50 years ago during a time of expansive political vision, the CBC was the brainchild of Rep. Charles Diggs Jr. (D-Mich.), elected to the House in 1955. He joined Reps. William Dawson (D-Ill) and Adam Clayton Powell (D-N.Y.) as the delegation for 22 million black people. He was part of a generation of political thinkers influenced by the 1945 resolution of the fifth Pan-African Congress: We are determined to be free. We want education. We want the right to earn a decent living, the right to express our thoughts and emotions, to adopt and create forms of beauty. We demand for Black Africa autonomy and independence.

During the 91st Congress (1969-1971), as the black delegation expanded, Diggs proposed the formation of the Democratic Select Committee (DSC) as a forum for coordinated strategy. In 1971, the DSC became the CBC, with Diggs elected as chairman. He asserted, Our concerns and obligations as members of Congress do not stop at the boundaries of our districts, our concerns are national and international in scope.

By 1972, Diggs envisioned the CBC as a vanguard entity for black empowerment. He promoted a Black Declaration of Independence and CBC leadership for a political convention in Gary, Ind. At this point, some organization members balked over playing the role of a black national congress. Instead, they elected Rep. Louis Stokes (D-Ohio) as chairman and he moved the group under the umbrella of a white liberal coalition. He believed that if we were to be effective, if we were going to make the meaningful contribution to minority citizens in this country, then it must be as legislators.

Since then, the CBC has suffered a question of identity and relevance. Its high points were in the 1980s, with bills for a Martin Luther King Jr. holiday and sanctions against apartheid in South Africa. Today, however, the organization is perhaps most associated with the shrill screeds of Rep. Ilhan OmarIlhan OmarDem-aligned group announces return to in-person canvassing in seven states Horn of Africa politics come to Minneapolis The Hill's 12:30 Report: Trump signs police reform executive order MORE (D-Mich.), symbolic gestures such as removing the statues of Confederate figures from the National Statuary Hall, and legislation seemingly devised to render an appearance of reform such as the bills in response to George Floyd's death.

Political scientist Kenny Whitby, in Dimensions of Representation and the Congressional Black Caucus, wrote that the CBC lacked the confidence to speak out on substantive issues and relied too much on a strategy of protest. Moreover, he found that its undue dependence on the liberal wing of the Democratic Party poses a dilemma for members of the group as players in the world of congressional politics.

So, how might the organization find its way back to the pathway of black empowerment? It could begin by revisiting the earlier desires for self-determination and Pan-African identification. It is ironic that early organizations with far less resources than the CBC could better speak to the needs of the ordinary folk.

On the question of economic development, for example, there was Booker T. Washingtons program in advanced agriculture and industrial skills. His founding of the Tuskegee Institute in 1881 became a model for leaders of developing societies around the world. It even inspired the Pan-African activist Marcus Garvey to incorporate a self-help economic program in his Universal Negro Improvement Association in the 1920s. Meanwhile, Elijah Poole, a Georgia sharecropper of modest education who took the name Elijah Muhammad, was astute enough to promote economic principles for everyday folk in the book, Message to the Blackman in America.

Surely, the CBC could find direction from these humble beginnings and speak to the Black population plainly. It might advocate the practical steps one can take to improve economic standing: live within your means, save as much as possible, nurture a supportive family life, spend your money among yourselves, support Black-owned businesses or non-Black businesses that hire your people, seek to improve health, home, education and community. Such basic lessons of self-improvement may not address the problem of structural racism but they do empower people to help themselves and offer more chances of rewards than taking to the streets.

In addition, the CBC should question the economic implications of the Democratic Party position on immigration legal and illegal for the Black labor force. Members have raised few concerns publicly about the consequences of liberal immigration initiatives. Fair-minded people can see evidence of policies that have undercut the status of Black labor in agriculture, hospitality, restaurants, construction and the civil services. In higher education, Black students encounter objections from immigrants and their children under a right-wing campaign to target affirmative action policies that relate exclusive to Black standing.

Finally, the organization must engage in the quest to build sustainable bases of political power in the states. Clearly, the needs of Black folk are best addressed at the state and local levels. As Ive suggested, Georgia is the most likely state for the establishment of a stable Black political majority (or plurality in a coalition). With over 30 percent of the population, Black voters have developed a talented political class ready to challenge suspicions of election fraud.

However, the Georgia imperative needs the support of Blacks from other areas to help grow the voter base quickly. The narrow loss in the 2018 gubernatorial race of Democrat Stacey Abrams to Republican Brian Kemp showed that victory is well within reach. With a sustainable political power base, the interests of ordinary folk would be reflected in the major offices, laws and police forces of the state. The CBC can play a role in coordinating a winning strategy for Georgia and other states.

In the 1950s poem, Harlem, Langston Hughes poses the question, What happens to a dream deferred? The poem explores a frustrated vision of a symbolic Black political entity. Today, the CBC faces the same question for the prospect of an autonomous Black political entity how will it respond?

Roger House, Ph.D., is an associate professor of American studies at Emerson College in Boston. Since 2014, he has published VictoryStride.com, a multimedia library resource on African American history and culture. He has produced radio programs on African American history for NPR, and is the author of Blue Smoke: The Recorded Journey of Big Bill Broonzy.

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Black lives and the CBC: What happens to a dream deferred? | TheHill - The Hill

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BLUE BELL, Pa. and BELMONT, Calif. (PRWEB) June 29, 2020

E-SoftSys and Veritec Solutions, leaders in self-storage enterprise management and revenue management systems, respectively, are pleased to announce that they have integrated, E-SoftSys enterprise management system, Self Storage ManagerTM (SSM) and Veritec Solutions revenue management system, VRMS.

The integration is rooted in their complementary strengths in enterprise management and revenue management. Self-storage operators will be able to realize the best of both worlds in one seamless user experience. Operators using SSM can now use VRMS to manage prices and customer rents efficiently and for maximum financial success. SSM data is seamlessly and automatically imported into VRMS on a daily basis with no action or maintenance needed by the self-storage operator. Pricing changes made in VRMS are uploaded into SSM for implementation. Storage operators will be able to implement pricing changes both at unit level and unit type level.

We are excited to have this tight integration with Veritec Solutions. We strive to have close collaboration with the leaders in the self-storage industry. SSM clients will now be able to leverage the advanced revenue management capabilities of VRMS, said Kat Shenoy, President & CEO of E-SoftSys.

We are delighted that operators using SSM can now realize the revenue benefits made possible by VRMS. VRMS has a proven track record of enabling self-storage operators to obtain revenue increases of 9 to 14 percent, and sometimes more than that. We are thrilled that this integration will enable many more mid-size and larger operators to obtain greater financial success as well as have easier access to critical data for a wide variety of analytics. We strive to make the user experience as our top priority, said Dr. Warren Lieberman, President of Veritec Solutions.

Self Storage Manager is a fully cloud based enterprise management software designed for both single- and multi-facility self-storage operators. The SSM suite of products helps storage operators to manage all aspects of their business including contactless rentals, lead tracking, lead management, billing, payment collections, business performance analysis and much more. SSM is fully compatible with multiple browsers and can be accessed from anywhere at anytime with any device. SSM also assists storage operators to automate their business processes with predefined workflows, follow up tasks, drip campaigns, texts and voice alerts.

VRMS is a state-of-the art revenue management system that provides competitive data-driven starting rate guidance. VRMS also provides rent increase guidance that enables operators to obtain higher revenues, even while reducing resultant move-outs. VRMS includes the industry-leading and patent pending Value (Convenience) Pricing implementation that automatically and dynamically differentiates pricing for similar units to further realize increased revenues while simultaneously expanding customer choice.

The combined benefits in property and revenue management systems now give self-storage operators unparalleled capabilities to increase their operational scale and scope with enterprise management, while at the same time crucially expand their bottom line with revenue management.

About E-SoftSys

E-SoftSys offers a complete suite of products and services that include Self Storage Manager TM - Comprehensive management software for single and multi-facility operators; Online Reservations and Rentals with Electronic Signature & Digital Storage of leases; e-CRM - Fully Integrated Customer Relationship Management (CRM) module, designed specifically for the self-storage industry and multi-facility operators for creating inquiries, reservations, rentals, capture lead to rental conversion ratios, with interfaces to leading phone systems; Call Tracker module to monitor call recordings, capture valuable statistics including lead to rental conversion ratios, cost per lead, capture cost per lead, cost per rental & measure ROI on advertising campaigns; SSM Text Messenger - A cloud based automatic payment reminder and past due alerts system designed to reduce the manager's time on collection calls; Customer Portal - A self-help interactive portal for customers to view their account history and balance, make payments, enable or disable autopay, schedule move-outs, update their contact information and more; Android Tablet/Mobile Phone based Site Walk Through & Work Order Management Module for site managers to perform lock checks, enter unit maintenance notes, mark units for move outs, create work orders for maintenance activities and much more; Other Interfaces - QlikViewTM Business Intelligence and Analytics, API integration to leading website providers, call center service providers, revenue management service providers, tenant insurance companies, cloud based gate systems and Lead Aggregators; 24/7 Customer Support - with Dedicated Team and Project Manager assigned for large operator implementations, as well as periodic upgrades to the software programs.

Self Storage Manager has been implemented by many single and multi-facility companies in North America, South America, Europe, the Middle East and Asia-Pacific. For more information, please contact E-SoftSys at 800-469-1740 Ext. 1, or by visiting http://www.selfstoragemanager.com or Click here to email us.

About Veritec Solutions Inc

Veritec Solutions is a thought leader in revenue management with its cloud-based software system, VRMS, for multi-store self-storage operators. VRMS is both a technology solution and a facilitated discipline that helps self-storage operators achieve significantly greater revenues and profits. VRMS includes starting rate guidance for new move-ins, rent increase guidance for existing customers, and dynamic patent-pending Value/Convenience Pricing implementation for differentiated storage units within a unit group. VRMS tightly integrates with the self-storage operators property management system. Leveraging its thought leadership, Veritec Solutions also provides consulting and support. For more information, contact Veritec Solutions at +1-650-620-0000, via email at Info@VeritecSolutions.com, or visit http://www.VeritecSolutions.com.

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E-SoftSys and Veritec Solutions Integrate their Self-Storage Property and Revenue Management Systems - PR Web

Speaking on the dry bulk markets move towards self-assessment of safety standards, Oldendorff director of business development and strategy Scott Bergeron noted two programmes developed by RightShip and Intercargo and said they have the potential to make the sector more resilient.

RightShips Dry Bulk Management Standards system will focus on 30 areas of company management practices divided into four sections -- performance, people, plant and processes -- ranking these on tiers of achievement from basic to excellent. RightShip is moving away from its SVIS risk rating system to a new scoring system which is set to be implemented in September.

Intercargos Dry Self-Assessment System considers 13 fields and 30 areas of management practices. Each field will comprise of specific questions and will be scored on a risk factor system. A companys overall score is the sum of these scores; a lower score will indicate lower risk.

Both systems are yet to be finalised and remain open to feedback from stakeholders.

Madan Dry Managements HSQE Manager Captain Panagiotis Nikiteas said he believes the self-assessment system has several benefits: namely, that the introduction of common systems would ensure fair play, improve benchmarking throughout the sector and reduce costs related to human errors.

Mr Panagiotis added that operators have some concerns over the costs they may incur and the transparency with which the system will operate.

"There is fear that self-assessment can be used as a commercial leverage, i.e. license to trade, he said.

The majority of webinar attendees believe bulk carriers operate at lower safety and environment standards compared to other vessels. Responses were split on whether RighShip or Intercargo are better placed to govern a self-assessment scheme to govern best practices. You can find full poll results at the bottom of this article.

The dry bulk market suffered in Q1 2020 and MSI dry bulk analyst Will Tooth told webinar attendees that in light of the ongoing events, the outlook for the remainder of 2020 remains poor with bulker levels falling to their lowest levels since 2016. With regards to iron ore and coal, MSI estimates the sector will be slightly more resilient to disruptions caused by the coronavirus.

However Mr Tooth noted that iron ore production in Brazil, one of the two largest production centres, has been affected by industrial disasters, disruptions caused by heavy rains and the pandemic. In light of this, MSI has revised its projected growth in iron ore exports from 3.7% to 0.5% in 2020.

Protectionist measures taken by India and China the planets two largest consumers of coal have also led to slowed demand. MSI now projects a 5.7% fall in coal production in 2020 and expects aggregate demand across commodities to fall by 1.6%.

Pacific Basin Shipping director for fleet and head of ship management and newbuildings Jay K Pillai addressed issues facing seafarers and sustainability in the dry bulk sector.

Travel restrictions caused by the pandemic have resulted in thousands of seafarers stranded on ships beyond their contractual dates. Mr Pillai said 30% of seafarers have exceeded their contractual agreement without relief. They are depressed, stressed, and they want to go home, he said.

In May, Intercargo said the maritime supply chain is at a risk of breaking down without crew changes. Noting that not all governments are forthcoming with easing restrictions despite the maritime sector and IMOs push to have seafarers designated as key workers to gain relief exemptions. Mr Pillai said governments are encouraged to act before seafarers are compelled to go on strike.

On the question of challenges to sustainability, he said rising costs caused by IMO 2020 and the collapse of the bulker market in Q1 2020 coupled with rising labour costs has led to increased operating expenses. Pacific Basin believes owners and operators should refrain from ordering newbuildings which they believe are not a long-term prospect to meet IMOs 2030 and 2050 targets. He said By doing so we can close the supply and demand gap and improve the return on investment.

Ultimately Mr Pillai said operators need to nudge suppliers to develop energy-efficient vessels and zero-carbon technologies that have the potential to help achieve the long-term emissions goals.

You can view the webinar, in full, in our webinar library.

Continued here:
Self-assessment will help drive new safety standards in dry bulk shipping - Riviera Maritime Media

Mental health experts are exploring the use of virtual support groups and other resources to help recovering COVID-19 patients who are grappling with anxiety and depression as a result of their illness.

Many of those patients are feeling stressed and isolated as they deal with lingering physical effects of the disease, such as fatigue and shortness of breath.

Some people have been removed from the ability to meet their common human needs socialization, meaningful work, getting together with family, said Dr. William Sanderson, a psychologist and director of the Anxiety & Depression Clinic at Hofstra University, which offers a two-session consultation for people suffering from pandemic-related psychological distress. Every time you block people meeting their needs, it results in emotional distress.

Battling COVID-19 while keeping an eye on her 1-year-old son left 30-year-old Brookelyn Berardiof Northportexhausted and stressed.

It comes in waves, said Berardi, director of strategy and development for Crunch Fitness. Some days I will be great and then there are days I wake up and I am sad. Other times, I am really frustrated and angry.

Debbie Rifenbury of Oceanside, who recovered after 17 days in the hospital and six days on a ventilator, said she has trouble sleeping and experiences anxiety. People still are reluctant to come near her, even though doctors say she no longer has the virus.

Ive said this before, but I feel like a leper, said Rifenbury, 61, who has started phone sessions with a therapist and is looking for support groups.

The New York State Office of Mental Healths Emotional Support Helpline has received more than20,000 calls since it was implemented March 25, officials said.

Earlier this month, the state launched a free, six-week Coping Circles program that provides support and group therapy by video or phone, run by licensed mental health professionals. Officials said about 200 people have registered so far.

Lisa Penziner, a registered nurse and special projects manager at rehabilitation facilities operator Paragon Management, has startedPost COVID-19 Support Group on Zoom that is free and open to the general public.

The first session on June 16 drew 10 participants, with even more asking to join on July 8. Additional meetings are scheduled throughout the summer.

Im hearing from a lot of people who are depressed and still having symptoms, Penziner said. I thought it would be a good idea to get them together. They probably feel very alone.

Penziner reached out to Dr. Joanne Shea, a psychologist, to facilitate the group.

When they talked as a group, I think it was very comforting for them to know they werent the only ones feeling this way, said Shea, who is regional director for Long Island for CHE Behavioral Health Services.

For example, shortness of breath one of the symptoms many recovering COVID-19 patients experiencecan trigger anxiety, she said, just as low energy is associated with depression.

They want the emotional support and the decreased isolation as well as information from their peers, she said.

Shea said many of the participants were frustrated by the reports of people not wearing masks or taking the virus threat seriously.

When you go through such a traumatic, life-threatening situation and others are dismissive, that can be very painful, she said.

These support groups are different from group therapy sessions, Shea noted. Participants seeking individual psychotherapy will be helped with referrals.

Berardi said she plans to join the nextParagon Zoom support group.

Its such a great idea, she said. Im looking forward to knowing I am not alone in my feelings.

Sanderson and his doctoral students at Hofstra University have created a free self-help guide Coping with Fear & Sadness During a Pandemic, which is available on the clinics website.

He urged people to share the guide and pay attention to symptoms. Even minor symptoms can be a red flag if they interfere with someones ability to function.

The concern that we have is that reactions to COVID that are mild could turn into disorders beyond the pandemic, Sanderson said. Depression is a slippery slope down we need to help these people now to avoid a bigger problem down the road.

There are several free resources for recovering COVID-19 patients and anyone feeling the stress of the pandemic:

SOURCE: Newsday research

Lisa joined Newsday as a staff writer in 2019. She previously worked at amNewYork, the New York Daily News and the Asbury Park Press covering politics, government and general assignment.

Original post:
They survived coronavirus. Now they're getting help fighting anxiety, depression. - Newsday

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Sometimes, helping a customer requires hanging up the phone and equipping them with your best automation and self-service technology.

When clients want quick answers fast, customer success managers from Austin tech companies FloSports and Khoros said they use automation tools like chatbots and self-educational resources like video tutorials and articles.

But these tools dont render the customer success team unnecessary. Instead, the CSMs said the extra time allows them to analyze data and determine the most important times to reach out to customers and employthe human touch. This technology also frees teams up to think about another business-critical task: scaling. Workflow tools like Salesforce and Gainsight come in handy with juggling a growing list of customers, giving CS teams access to reporting tools, usage activity and touchpoint reminders.

The most significant takeaway the following CS leaders had for Built In? Automation tools are supposed to assist the customer and keep them engaged with the product. If the client isnt seeing results from that technology, or has a situation too complex for the computer to solve, its time for the customer success team to step in.

Sandy Zepeda

Director of Customer Support

Sandy Zepeda, director of customer support, knows the main objective of her customers is simple: they want to watch live sports. Therefore, at sports streaming platform FloSports, sometimes an in-depth conversation about customer goals and pain points is unnecessary. Automated tools, like chatbots, sometimes do a better job at helping customers reach solutions quickly. If automation tools risk a positive experience, however, Zepeda said her team is always available for more complex questions.

When it comes to scaling your customer success team, what are the most important considerations and why?

One of my early areas of focus was to make sure we could scale the team successfully when live sports returned. Top of mind is always the customer service experience. In some cases, you can automate a process, but it may not be the best solution for a customer or the business in the long run. We want to balance experience, value and risk to revenue.

It makes sense to automate a process or provide a self-service option and limit human interaction when it does not risk customer experience and retention. It is also important to consistently measure the effectiveness of any scaling efforts and pivot as customer needs or business goals change.

We want to interact with our customers when it makes the most sense for them.

What tools or technologies do you use to make customer success more scalable?

One of the guiding principles we look at when implementing new tools and technology is how it will support the team and make their lives easier. At the beginning of this year, we moved our customer support team over to Salesforce, which refined our workflows, provided a better view of the customer, offered improved reporting and made it much easier for our team to get things done. This allowed us to integrate several of our other tools into one interface and streamline processes that were once cumbersome to one-click.

We are now looking to implement chatbots, more self-service account management features, one-click ticket reporting for technical issues and streaming issues, as well as a more robust support knowledge base, giving customers access to better tools and information. This allows our team to be more available for complex or sensitive issues where we want to spend more time working with the customer one-on-one.

How are you striking the right balance of automation and the human touch?

We want to interact with our customers when it makes the most sense for them. Most customers want a quick resolution to their questions so they can get back to watching sports. With that in mind, one of our recent endeavors was to measure how many contacts it takes to resolve each type of issue and then review which ones could be resolved with a knowledge-base article, a few easy troubleshooting steps or a new self-service feature.

We also love to run experiments. Most new ideas are run through A/B testing, so we can measure outcomes with different approaches before we roll something out completely. In some cases, this is testing an automated solution versus a human interaction to see which has the best outcome for both the customer and FloSports.

Martn La Rocca

Senior Manager, Customer Success

Senior CSM Martn La Rocca said scaling means focusing on business outcomes rather than customer growth at customer engagement platform Khoros. In order to accomplish this goal, CSMs provide customers with resources like articles and tutorials so they can best use the platform.

When it comes to scaling your customer success team, what are the most important considerations and why?

There are a few ways to think about scaling. We always want to have more people available and grow a team, but when considering the cost for our business, weve focused on scaling the most critical strengths of the team. Khoros is committed to a partnership without customers.

CSMs are particularly focused on business outcomes, so we scale this by making sure users have profound resources for more fundamental things in an easily accessible format, including hands-on product help.

What tools or technologies do you use to make customer success more scalable?

We utilize workflow tools like Gainsight. Additionally, a robust and easily accessible (e.g. in-app) knowledge base helps keep CS conversations focused on business outcomes, rather than on feature functions.

One unique way we scale strategicbusiness outcomes is by having a complimentary team of product experts who help individual users in hands-on sessions.

The highest-value live conversations tend to be around strategic business outcomes.

How are you striking the right balance of automation and the human touch?

Khoros operates with an information experience team that complements and empowers the work of customer success. This is the backbone of highly accessible self-service that is on-demand for users and accounts.

Our choice to automate versus have a live conversation hinges on creating an information experience where the conversation isnt a requirement, but rather an additional resource. The highest-value live conversations tend to be around strategic business outcomes.

Read more:
How to Scale Customer Success Without Losing the Human Touch - Built In Austin