Mode of Operation and Potential Risks of Hedge Funds

Mode of Operation and Potential Risks of Hedge Funds Xie Chao Introduction Hedge fund refers to the financial futures and financial options and other financial derivatives financial funds to high risk and speculation as a means to profit for the purpose of combination and the financial organization. hedge funds are the latest investment theories and extremely complex financial market operation skill based, full use of various financial derivatives products lever effectiveness, high risk, high return investment model. The traditional sense of the hedge is a kind of behavior or strategy aimed at reducing the risk of. Hedging often takes the form of a transaction in a market or assets, to hedge risk, another market or assets of a company for example, buy a foreign exchange option risk to its business to hedge the spot exchange rate fluctuations. Fund of hedge funds is to give the basic idea to obtain high profits through the use of various financial derivatives of the private equity fund. Hedge funds through the shortselling and leverage operations, in the market with less capital will have the probability to obtain high returns. Several well-known Tremont Group Holdings Inc have a combined annual income of up to 40% to 50% of the rate. But it is worth mentioning that the hedge fund investment strategy is a high risk investment, hedge funds may bring high return but also bring inestimable loss to hedge funds. The largest hedge funds could not change unpredictably in the financial market in an invincible position forever. The Tiger Fund in the cause of the peak appeared unable to get up after a fall position error, in this paper, will discuss the potential risk and the mode of operation of the hedge fund. Literature Review In the The future of hedge fund investing, the author based on the situation of Australian hedge fund manager for the acceptance of new products as well as the survey of Australian hedge fund market, expressed on the future development of hedge funds. The author is a direct expression of the hedge fund will become one of the main mode of future development, but the future rate of return will tend to rational. Hedge funds can provide very good nontraditional investment projects and investment philosophy, thus breaking the traditional sense of the financial system of the absolute, such as stock and futures market. Investors must not simply from the stock rise in profits or profit from the good development of economy, but also can benefit from the various possibilities by hedge funds. This model to overthrow the traditional investment concept. The ability to hedge funds over risk-free money market assets is easy to verify comparable hedge fund performance and the main stock index reveals mixed results. Hedge fund should consider contains only they can provide diversification benefits not drag the whole income portfolio rate in the diversified portfolio. Hedge funds have been trying to move beyond monetary market agents, suggesting that, on average, investors should be better in the currency market investment. Australian investors, from the bank bill yields than hedge fund returns do not bear any risk in this period. (Ali, 2004). In the Hedge fund reporting challenged, the author suggested to hedge funds, one of the main potential risks. Hedge fund investors in understanding the initial investment hedge fund manager, whether this distribution have a positive return or not interested. In the past the investment rate of return information that is of particular interest, is the prospect of information in the profit or loss of the future. Hedge fund report can be a tense relationship between investors and hedge funds origin. The report is the main concern for investors data prior to disclosure the past rate of return on investment, but investors rarely take the initiative to care about the obtained before changes in the objective market high returns and the international financial system environment. This is the number of big hedge fund in successive years of high returns, one of the potential risk of sudden trouble. When investors and hedge fund managers at the same time the face of this report, the mentality is different each other. Investors want to obtain information from the hedge fund report, see the foundation in the future may be and the same as before to obtain a high rate of return on investment, while for the hedge fund managers, they would prefer to adopt a perfect report to obtain higher investment amount, and then through the financial derivatives to move more high leverage to demand higher interest. (Schrà ¶der, (2009)) In the article the Banking Financial Services Policy Report, the author points out a series of questions of hedge funds since the. This article uses a lot of data to illustrate the operation mode of hedge fund will make these funds will eventually go blind profit and ignore the regulation of the abyss. In this paper, the author will provide potential agency problems associated with the management of the hedge fund, the relevant reasons to increase or decrease in the regulation of hedge funds, and discuss the international differences in the regulation of hedge funds. At the same time, the author also points out the necessity and possibility of the development of hedge funds to do supervision and the future development in this trend. This paper points out that the Agency Problems in Hedge Fund Managementà ¯Ã‚ ¼Ã…’Potential Conflicts Arising from Investor Baseà ¯Ã‚ ¼Ã…’Potential Conflicts Arising from Fees and Proprietary Investment by Hedge Fund Managersà ¯Ã‚ ¼Ã…’Potential Conflicts Arising from Lack of Regulatory Oversight Potential Conflicts Arising from Lack of Transparency, Potential Conflicts Arising from Lack of Transparency, Liquidity, Independent Valuation, and Pricingà ¯Ã‚ ¼Ã…’Potential Conflicts Arising from Strategies and Leverage and International Differences in Hedge Fund Regulation are the major problems of hedge fund. The author cites a large number of problems in depth later, found the cause of the problem, and put forward a relative dialectical argument in the solution to the problem cause, is about the supervision of strict degree. The use of innovative investment strategies of hedge fund of hedge fund. On the one hand, to provide a variety of welfare hedge fund strategies these innovation, financial system involved, including the market liquidity and provide vital, limit price distortions and abnormal through arbitrage, and the tools and the risk of the market, because they can quickly change the portfolio. At the same time regulation can avoid more human or human operational errors based on the market tends to be more rational and restrained. However, people also hold clear opposing views concerning the draconian regulation, such as regulation is going to cause the market too friendly, hedge fund managers may face administrative regulation more trivial on trifles and unable to better respond to market changes, the hedge fund manager will relocate to more lax regulation of less jurisdiction. At the same time, for more regulation will involve taking self regulatory function from hedge fund participants, which may encourage the investment decision and risk management of relaxation. And finally the author puts forward the problem now is not how to regulate the industry, but where to draw the line in and excessive regulation. If it is assumed that all hedge fund manager to complete freedom to do what they do best, then any additional regulation would lose their favorable position in market failure in the market self adjustment ability, but it is easier to make the fund managers do not health more cross line led to the developm ent of the market, is not conducive to the long development. (Cumming, (2008).) In an annual report from Deutsche Bank, the hedge funds derivatives business has been affected by the financial tsunamis biggest business. Performance data of bad, caused the final quarter of the year in many hedge fund strategies 2008, investors Redemption requests boom. Deutsche Bank is one of those still in the market. Keep away from new business, it continues to thousands of products, so that the two grade market, has been in the restructuring of the damaged hedge fund positions are very active, and has developed a new hedge funds, exchange traded funds to investors liquidity. The bank also help clients to fund investment in hedge funds and funds. Deutsche bank restructuring process of more than $2000000000 of products for more than a year. In some cases, other dealers structure it help investors hedge fund products supplier credit risk or involved in the transaction. This structural adjustment as a means of coping with the crisis, operation method and the new popular form in more of the financial system. According to Deutsche Bank in a report, it is not difficult to see that the structural problems brought about by solving hedge fund existing products has become a main direction of major financial institutions, at the same time, the bank also gives a better solution is to avoid speculation concept, simple game on the existing basis, derivatives more market more transparent, provide financial tsunami hedge fund after a good operation platform. It is groundbreaking because, for the first time, investors can access a diversified pool of hedge funds, which is Ucits Illcompliant, transparent, over-collateralised and developed into a package that is as liquid as foreign exchange, says Farouze. Everybody is going to ask how we are providing intra-day liquidity and not taking big risks because the underlying managers are not liquid, but it is a fundamental misunderstanding that managers are illiquid. Deutsche Bank report a future development direction, but this is not the only direction. In fact, the financial system is with the development of science and technology and the process of globalization. While similar to the hedge fund this fund molding for just a few decades, and only in the last ten years of substantial growth, occupy a space for one person in financial institutions. It is not difficult to see, the future development is diversity, hedge fund concept will be with the development of financial system and complete change. This will later in the paper mentioned. (BANK, 2010) Research Questions In this report, will be around 2 main research. First, the operation mode and the hedging strategy of hedge fund. Second, hedge funds will face what risks and how to avoid these risks. Operation mode about hedge funds will choose more common and easily understood model analysis, through analysis, a direction to try to explain why hedge funds as institutional investors are willing to invest, and position fully understand why financial derivatives play in different market operation. About the risk hedge funds face, will be analyzed from different aspects, first of all will be based on several reasons the literature has been mentioned analysis will be between hedge fund managers and investors have problems and explore why hedge fund risk management must be very strict, and will use examples of why once large hedge fund be unable to get up after a fall in the market changes, exit the market stage, finally according to the international economic environment and puts forward some assumptions and analysis of hedge funds will be how to face these difficulties, and puts forward the solution or the method of risk aversion. the operation mode and the hedging strategy of hedge fund Hedge funds have a lot of investment strategy, the investment strategy, academic classification is roughly four, arbitrage, event driven, directional and global macro. And the four way investment, should be said that the four main thinking pattern, they can coexist also can invest strategy according to one or more of them adjustment. It is also a reflection of the hedge fund freely. In the paper, classification will be analyzed, and give examples. Arbitrage The basic idea is to arbitrage fund assets to buy shares, part of the assets of the short selling of shares. Multiple assets amount to buy stocks by the B coefficient (coefficient a measure of stock and market relevance) adjusted to form a long position, short asset amount of the short selling of stocks by the B coefficient adjustment after the formation of short positions, long positions and short positions of the difference between the formation of the assets of the fund market position. The market position for long, short or is zero, thereby regulating funds face market risk. When the market position to zero, long / short strategy to become the market neutral strategy, the fluctuation of return and market fund completely unrelated. Through adjusting the market positions, types or further adjustment of portfolio stock, can adjust the portfolio risk degree and the risk types. Hedge is a double-edged sword. When the fund market risk faced by hour, value-added potential of the fund ca n enjoy the stock market long-term upward trend has also reduced. In addition to hedge market risk, we can also be other risk funds to hedge funds, such as exchange rate risk, interest rate risk, the industry risk etc.. Whenever a risk is hedged, there is no possibility of fund managers use the risk factors for the fund value. In theory, a perfect hedge fund returns should be the risk-free rate minus the transaction cost. Therefore, in practice, the fund manager will not take all the risk factors for hedge funds, but their risk factors cannot grasp the hedged risk factors, leaving his grasp, make investment decisions in these risk factors to obtain excess returns. Stock index futures Stock index futures is not reasonable price the stock index futures market, at the same time to participate in the stock index futures and spot market transactions, or simultaneously in different period, different (but similar) category stock index contracts, to earn post behavior. Stock index futures arbitrage sub now hedge, hedging, hedging and cross city, cross species hedge. Commodity futures Similar to stock index futures, commodity futures also exists in the hedge strategy, to buy or sell a futures contract at the same time, selling or buying another contract related, and in a time of the two kinds of contracts. Transactions in the form it and hedging some similar, but hedging is to buy on the spot market (or sell) real goods, selling in the futures market at the same time (or buy) futures arbitrage; and only in the futures market sale and purchase agreement, does not involve the spot transaction. Commodity futures arbitrage are now hedge, hedging, cross market arbitrage and cross species arbitrage. Option hedging Option is also called the right to choose, is a kind of derivative financial instruments in the future on the basis of. From its essence, option is essentially in the financial sector to the rights and obligations of separate pricing, the right of the transferee within the specified time on whether to trade to exercise its rights and obligations must be fulfilled. In options trading, purchase option is termed the buyer, and the sale of options side is called the seller; the buyer is the right of the assignee, and the seller must fulfill the buyer to exercise the right obligation. Option has the advantages of unlimited income and risk of loss is limited, so in many cases, the option to replace the futures, short hedge trading, will risk arbitrage has smaller and higher rate of return than the futures.

John Donne Essay

A text is essentially a product of its context, as its prevailing values are inherently derived by the author from society. However, the emergence of post-modern theories allows for audience interpretation, thus it must be recognised that meaning in texts can be shaped and reshaped. Significantly, this may occur as connections between texts are explored. These notions are reflected in the compostion of Edson’s W;t and Donne’s poetry as their relationship is established through intertextual references, corresponding values and ideas and the use of language features. Edson particularly portrays key values surrounding the notions of the importance of loved based relationships, and death and resurrection: central themes of Donne’s Holy Sonnets and Divine Poems. The purpose of these authors distinctly correlate as each has attempted to provide fresh insight into the human condition by challenging prevalent ideals. Thus, Edson incorporates Donne’s work to illuminate both explicit and implicit themes, creating an undeniable condition. Prior to John Donne’s Judeo Christian conversion he believed that life was only fulfilling if shared with another individual. He conveyed in his pre-conversion poems and stressed the power and importance of love to a person’s well being and existence. Donne contrives the idea that love must not be a â€Å"Dull Sublunary lover’s love†, rather a relationship where â€Å"two souls†¦ are one,† a love, he explores his conceit, so strong it can stretch â€Å"like gold to aery thinness†. His geometrical conceit explains that relationships â€Å"Shine here to us, and thou art everywhere; This bed thy centre is, these walls, thy sphere. † During the 17th century everything revolved around the sun, saying that lovers went against it was seen as going against the, thus showing how vital relationships are to human existence. The medium of a play allows us to a different view on how important love is one life’s, and what is to be lost with its absence Donne’s values according to life’s meaning and relationships are reworked by Margaret Edson within W;t. Vivian Bearing is constructed to reflect the secular view point, â€Å"preferring research to humanity†, the motif Edson creates in Bearing as she misses the point Donne makes about relationships, seeking instead to be making a â€Å"significant contribution to†¦ knowledge. † Bearing does not mind the lack of relationship she has, correcting Susie she has â€Å"none, to be precise,† distinctively juxtaposing Donne’s views on relationships and their importance. Bearing reflect the individualism of the estern culture when she is â€Å"distinguishing the [herself] in illness facing the world alone. However Bearing reflects how after many years with being uncomfortable with kindness she wishes her doctor â€Å"would take more interest in personal contact. † The implicit connections Edison portrays between â€Å"an orange two stick Popsicle† shared between Bearing and Susie, and Donne’s twin compass displays Bearings recognition of th e importance relationships should play in life. Edison challenges secular humanists through her textual construction of dialogue and motifs to question the importance relationships play in order for a meaningful life to be attained. The existential question of what lies after death is one that writes have pondered for years. Donne explicitly demonstrates his battle with this concept and his beliefs about theology, death and afterlife after he is converted to his Judeo Christian faith. Death was not easy to ignore in the 17th century as executions and daily mortuary carts attributed to the fear and awareness of death. His compliant tone throughout his poetry clearly indicates that he feels that he feels some degree of confidence that God will accept his soul into heaven, evident when he apostrophises death to â€Å"be not proud, though some have called thee mighty and dreadful†, that death should not be feared as it is a â€Å"rest and sleep† till the forgiven â€Å"wake eternally†. A possible passage through the American continent to the indies was earnestly being explored just as the poet’s body was probably being probed and prodded to seek enlightenment or a successful path. This analogy is made clear by the clever extended pun on ‘straits’ as both a trade route and a personal dilemma. They are itemised so that the link is not missed for the Western Sea, to which all the straits led, also represents death and entry into the next life: â€Å"So death doth touch the Resurrection Likewise to John Donne, Edison engages with the concept of death and what, if anything comes after it. While Bearing does not openly ponder what comes after death in the play, she is tangibly struggling with the fear of death. Her own feelings are mirrored by Donne’s â€Å"If poisnous minerals† is shown through her analysis. In her analysis she says, Donne â€Å"finds God’s forgiveness hard to believe, so he crawls under a rock to hide. † Rather than trust God’s mercy â€Å"I want to hide. I just want to curl up into a little ball. † Donne’s poem If Poisonous Minerals has a direction relationship to the The Runaway Bunny read by Bearing in her childhood. It provides for her an allegory for God’s mercy allowing her to find solace, â€Å"No matter where it hides, God will find it. Where Donne presents this same allegory in a complex manner, the book is simple. Bearing is redeemed and able to die peacefully with this understanding of compassion. It is in the final scene that Edson reshapes Donne’s ideas on eternity and resurrection of the play with bearing’s humanistic post-modern sight. Donne, in his Judeo Christian context, prepares hims elf for God to take his soul into heaven, whereas the humanistic post-modern understanding of the resurrection that Bearing obtains brings an end to her suffering an pain when the â€Å"lights out. â€Å"

Culture, ideology, politics and economics are linked in the output of media organisation in way that is true for no other sector of capitalist enterprise

Introduction Although some might believe otherwise, the media is not a neutral or objective institution. It is rather a disputed space that can be manipulated to serve certain interests. McNair (2007:103) affirms that â€Å"culture, ideology, politics and economics are linked in the output of media organisation.† This statement is especially true of the UK newspaper industry. McQuail (2008:7) also argues that power structures social relationships and that this has an effect on the way the mass media is organized. Both historically and presently the influence of the media can be observed. Newspapers promote certain ideologies, create and reinforce cultural patterns, and greatly influence views on politics. Media products that are made for mass consumption are often controlled by a handful of wealthy owners. This is very similar to what Karl Marx calls the ‘bourgeoisie’ or the owners of the means of production. They are in control of factories and the livelihoods of workers. How ever, in much the same way, media production serves the interests of the few, and not those of the masses. The ruling class often determines the content of widely distributed newspapers. In support of McNair, I will argue that media output is very closely linked to culture, ideology, and politics, in a way that is advantageous to those who own the means of production. In order to show this, I will discuss all factors (culture, ideology, politics, and economics) in relation to each other and analyse the influence that the newspaper industry has had historically on political, economic, and cultural affairs. The paper will mainly look at 18th century, 19th century, and present press and media output in Britain. Critical Analysis The struggle over control of newspaper content is also an economic struggle between the bourgeoisie and the workers or the lower classes. This is a conflict that mirrors the Marxist notion of class struggle. Starting as far back as the 18th century, the UK ruling class has fought to destroy radical newspapers of the time, such as Poor Man’s Guardian, Twopenny, and Republican. The aims of the radical press were to promote class organisations through the development of a critical political analysis. Class organizations and unions were meant to earn workers better wages and more rights. Thus, by developing radical newspapers, the working class sought to improve their economic condition. This is an example of the struggle between the aristocracy and the workers who were criticising corruption and the repressive taxation which was impoverishing them (Curran 2010:13). Here, politics is also interrelated to the media and to economics. It was only through adopting a critical political analysis that workers could advocate for their rights. On the other hand, the politics of the right (or the wealthy owners) represent their economic interest of keeping the wealth and control of the press in the hands of few. The emergence of more progressive publications in the early 1800s showed how the ideology of the ruling classes was in opposition of radicalism. Their politics served to prevent the workers from gaining more control of the media output. Between 1830 and 1836 there was an increase in circulation of radical newspapers. In London alone, the readership grew from half a million to 2 million. Dr Philmore, a member of Parliament, complained that â€Å"these infamous publications [†¦] inflame working people’s passions, and awaken their selfishness, contrasting their present condition with what they contented to be their future condition- a condition incompatible with human nature, and with those immutable laws which providence has established for the regulation of human society â€Å" (Curran 2010 : 14). In other words, the rich believed that it is their right to maintain their social and economic standing. In response to radicalism, they sought to pass regulations that would control the media output. This implied that they could promote the views that would benefit their own economic and social condition. As already seen, those who can control media output use this resource to promote their ideology, culture, and politics. In this way, they also maintain their wealth. In order to silence the voice of radical newspapers in the 1800s, the government decided to introduce the stamp duty, which meant that publications were redefined to include political periodicals. Curran and Seaton (2010) also note that during those days, the government sought to increase press taxation. This was to ensure that those in charge of the press are wealthy men of high social standing. Curran and Seaton explain that the reason behind stamp duty was â€Å"to restrict the readership to a well to do by raising the cover price; and to restrict the ownership to the propertied class by increasing the publishing cost â€Å" (Curran and Seaton 2010:11). This shows how economics plays a big role in restricting those who do not have the necessary means from promoting their own ideology, politics, and culture. The example clearly illustrates the link between economics, culture, and politics that McNair talks about. It also portrays, once again, how those who own the means of produc tion can promote the ideologies that benefit them. Over time, those who were financially in control of the media used this to their advantage and slowly began to take radicalism out of the picture. It became the norm that only those who have enough capital could have a say in politics and influence the ideology of the masses. In the late 19th century, when some control methods failed and stamp laws were repealed, the press establishment embarked on a â€Å"sophisticated strategy of social control†, where the radical newspapers were replaced by apolitical, commercial publications, read by mass audiences and controlled by capital (McNair 2009:87). According to McNair (2009), the radical publications of the end of the 19th century had either been forced out of existence, moved right politically, or become small specialist publications. As newspapers became cheaper and the market expanded, capital investment and running costs increased beyond the capacity of radical publishers. Thus, radical voices were once again silenced. This shows that the output of news is greatly influenced by the ownership and capital, as only the wealthy are powerful enough to determine the course of media production. Currently, it can be said that media output in the newspapers is still dependant on who owns the enterprise, what are their politics, and what kind of ideology and culture they want to promote. Oftentimes, the output does not necessarily reflect the truth, but rather takes the form that is best suited to serve the interests of the few. It is not uncommon for stories to be censored or even not published at all. To illustrate this, Anthony Bevins (1997:47) argues that â€Å"Journalists cannot ignore the pre-set ‘taste ‘of their newspapers, use their own sense in reporting the truth of the any event, and survive. They are ridden by news desks and backbenches executives, have their stories spiked on a systematic basis, they face the worst sort of newspaper punishment –byline deprivation.† Conclusion The history of newspaper publishing in the UK shows that economic interests influence media output immensely. I have argued that, historically, culture, ideology, politics, and economics are all interrelated influences on the content of media. In order to show this, my paper has looked at historical events that have had an impact on the course that the media (especially newspapers) has taken during the past few hundred years. Starting with the 18th century, the press has been a battlefield between the rich and the poor. Radical newspapers fought to have a say in politics. Unfortunately, those who had more wealth and invested more capital were the ones able to take control of the press. With the control of the press also came the promotion of certain ideologies. The ruling class favoured the politics that went against the interests of the workers. Politicians and capitalists alike strived to protect their standing. The stamp duty is an example of measures that they were taking to ens ure that radical media output does not grow enough to influence political views. Even though this measure did not last, the effect that commercialization has had on newspapers and media output, in general, is still evident. Those who own media corporations prefer an apolitical and commercial approach. Over time, the voices of workers with radical demands have stopped being heard in the mainstream media. Moreover, even the practices of journalists nowadays are influenced by this approach to media as a profit driven enterprise. The relevance of stories is often determined based on commercial appeal and sensationalism, rather than facts. Stories can be censored and facts hidden. Economics, as well as politics are mainly to blame for these developments. McNair (2009) sums up this interrelationship perfectly through his work. The fact that politics, economics, culture, and ideology play a big role in determining media output is undeniable. Although this is unlikely to change in the near future, it is important to know whose politics and interests influence what we read, hear, and see in the media. Bibliography Curran, J. and Seaton. Power Without Responsibility : Press, Broadcasting and the Internet in Britain. Routledge, Abingdon, 2010. McNair, B. News and Journalism In the UK . Routlege, London, 2003. McQuail D. Mass Communication. SAGE, London, 2008. Tumber H. News : A Reader. Oxford University Press, Oxford, 1999. Wahl-Jorgensen, K. & Hanitzsch, T. The Handbook of Journalism Studies. Taylor & Francis, Abingdon, 2009.

gender Essays - 1312 Words

Gender Roles nbsp;nbsp;nbsp;nbsp;nbsp;For many years society has embraced the idea that the difference between men and women were biologically determined. Thou through traditions, media, and peers we act accordingly to how others view us. Each individual has pressure placed upon them based on their gender. Our sex is determined by genetics while our gender is programmed by social customs. Some theories interpret that a women is tender and a loving mother while on the other hand men are aggressive hunters and are the dominant one of the family. People who support this theory seems to believe that men and women are happier when fulfilling the roles nature determined for them. Women are to be nurturing and men are to be providers by†¦show more content†¦In the Early days T.V. sitcoms portrayed women as housewives and men as the breadwinners (workforce). For example, Leave it to Beaver was a T.V. show were June Cleaver( the mother) stayed at home all times and never disciplined the children. Were as Ward Cleaver (the father) was the dominant one who worked and disciplined the children. Now, the sitcoms are completely different as far as the gender roles that each parent plays. For example, who’s the Boss were Angela was a successful businesswoman and provided for the family and Tony was the housekeeper. Commercials are another way that gender roles are displayed in society. When you see a car commercial for a mechanic most of the time the mechanic is a man. But when you see a commercial about cleaning products for the house normally a woman is the face you see. In other words, the media can help break the barriers on how gender roles are portrayed in society. The more that women represent strength on T.V. will also encourage them to build their self-confidence. However, not intending that traditional ways are bad, but the era has changed by who the individual is and not by their gender. A teacher is an important key element in the educational system as well as a role model. Some teachers hold traditional gender stereotypes about their students’ views of what is expected of them. Many children develop socialShow MoreRelatedGender, Gender And Gender932 Words   |  4 Pagescommonalities found throughout the text, which challenges the representation of gender identity in last week’s materials. One of the similarities found throughout this week’s materials is that gender is complex. Professor Davis’s lecture â€Å"Sex Gender – It’s Complicated† defines â€Å"Binary gender: man or women, female or male, and masculine and feminine. Two distinct categories† (slide 5). The Western society mostly see gender as binary, black and white. 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