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Simca

Simca (Société Industrielle de Mécanique et Carrosserie Automobile; Mechanical and Automotive Body Manufacturing Company) was a French automaker, founded in November 1934 by Fiat S.p.A. and directed from July 1935 to May 1963 by Italian Henri Pigozzi. Simca was affiliated with Fiat and, after Simca bought Ford's French subsidiary, became increasingly controlled by Chrysler. In 1970, Simca became a brand of Chrysler's European business, ending its period as an independent company. Simca disappeared in 1978, when Chrysler divested its European operations to another French automaker, PSA Peugeot Citroën. PSA replaced the Simca brand with Talbot after a short period when some models were badged as Simca-Talbots.

During most of its post-war activity, Simca was one of the biggest automobile manufacturers in France. The Simca 1100 was for some time the best-selling car in France, while the Simca 1307 and Simca Horizon won the coveted European Car of the Year title in 1976 and 1979, respectively—these models were badge engineered as products of other marques in some countries. For instance the Simca 1307 was sold in Britain as the Chrysler Alpine and the Horizon was also sold under the Chrysler brand.

Simca vehicles were also manufactured by Simca do Brasil in São Bernardo do Campo, Brazil, and Barreiros (another Chrysler subsidiary) in Spain. They were also assembled in Australia, Chile, Colombia and the Netherlands during the Chrysler era. In Argentina, Simca had a small partnership with Metalmecánica SAIC (better known as de Carlo) for the production of the Simca Ariane in 1965.

Foundation
Henri Pigozzi was active in the automotive business in the early 1920s when he met Fiat founder Giovanni Agnelli. They began business together in 1922 with Pigozzi acting as a scrap merchant, buying old automobile bodies and sending them to Fiat for recycling. Two years later Pigozzi became Fiat's General Agent in France and in 1926 SAFAF (Société Anonyme Française des Automobiles Fiat) was founded. In 1928, SAFAF started the assembly of Fiat cars in Suresnes near Paris and licensed the production of some parts to local suppliers. By 1934, as many as 30,000 Fiat cars were sold by SAFAF.

Simca-Fiat
The SIMCA (Société Industrielle de Mécanique et de Carrosserie Automobile) company was founded in 1935 by Fiat S.p.A., when it bought the former Donnet factory in the French town of Nanterre.

The first cars produced were Fiat 508 Balillas and Fiat 518 Arditas, but with Simca-Fiat 6CV and 11CV badges. They were followed during 1936 by the Simca Cinq or 5CV, a version of the Fiat Topolino announced in the Spring, but only available for sale from October 1936. The Huit, an 8CV version of the Fiat 508C-1100, appeared in 1937. Production of the 6CV and 11CV stopped in 1937, leaving the 5CV and the 8CV in production until the outbreak of World War II. The firm nevertheless remained closely connected with Fiat, and it was not until 1938 that the shortened name "Simca" replaced "Simca-Fiat".

Of the businesses that emerged as France's big four auto-makers after the war, Simca was unique in not suffering serious bomb damage to its plant. There were persistent suggestions that Henri Pigozzi's close personal relationship with the Agnelli family (which owned Fiat) and Fiat's powerful political influence with the Mussolini government in Italy secured relatively favourable treatment for Simca during the years when France fell under the control of Italy's powerful ally, Germany. Despite France being occupied, Simca cars continued to be produced in small numbers throughout the war.

Following the 1944 liberation, the company's close association with Italy became an obvious liability in the feverish atmosphere of recrimination and new beginnings that swept France following four years of German occupation. Nevertheless, shortly after the liberation the Nanterre plant's financial sustainability received a boost when Simca won a contract from the American army to repair large numbers of Jeep engines.

1946: a decisive year
On 3 January 1946 the new government's five-year plan for the automobile industry (remembered, without affection, as the Pons Plan) came into force. Government plans for Simca involved pushing it into a merger with various smaller companies such as Delahaye-Delage, Bernard, Laffly and Unic so as to create an automobile manufacturing combine to be called “Générale française automobile” (GFA). With half an eye on the Volkswagen project across the Rhine, the authorities determined that GFA should produce the two door version of the "AFG", a small family car that had been developed during the war by the influential automobile engineer, Jean-Albert Grégoire. Grégoire owed his influence to a powerfully persuasive personality and a considerable engineering talent. Regarding the future of the French automobile industry, Grégoire held strong opinions, two of which favoured front-wheel drive and aluminium as a material for car bodies. A few weeks after the liberation Grégoire joined the Simca board as General Technical Director, in order to prepare for the production of the AFG at the company's Nanterre factory.

For Simca, faced with a determinedly dirigiste left-wing French government, the prospect of nationalisation seemed very real. (Renault had already been confiscated and nationalised by the government at the start of 1945.)  Simca's long standing (but Italian born) Director General, Henri Pigozzi, was obliged to deploy his very considerable reserves of guile and charm in order to retain his own position within the company, and it appears that in the end Pigozzi owed his very survival at Simca to the intervention with the national politicians of his new board room colleague, Jean-Albert Grégoire. In return, Grégoire obtained the personal commitment of the surviving Director General to the production at Nanterre of his two-door AFG.

It is very easy to see how the two-door AFG looked, because its four-door equivalent went into production, little changed from Grégoire's prototype, as the Panhard Dyna X. It was a car designed by an engineer, and Pigozzi thought it ugly. In trying to make it more appealing to the style conscious car buyers who, it was hoped, would appear in Simca showrooms once the economy picked up and government restrictions on car ownership began to be relaxed, Simca designers took the underpinnings of the Grégoire prototype and clothed it with various more conventionally modern bodies, the last of which looked uncannily similar to a shortened Peugeot 203. This “Simca-Grégoire” performed satisfactorily in road tests in France and around Turin (home town of Fiat who still owned Simca), and by September 1946 the car was deemed ready for production. But Pigozzi was still cautious. He had little enthusiasm for the gratuitously unfathomable complexities involved in producing a mass-market front-wheel drive car. The experience of the Citroën Traction Avant, which had bankrupted its manufacturer in the mid-1930s, was not encouraging. Pigozzi therefore applied to the (at this stage still strongly interventionist) government for a far higher level of government subsidy than the government could contemplate. Both the “Simca-Grégoire” project and the government's own enthusiasm for micro-managing the French automobile industry were by now running out of momentum. Sensing that there was no prospect of putting the “Simca-Grégoire” into production any time soon, General Technical Director Grégoire resigned from the company early in 1947.

Meanwhile, at the first Paris Motor Show since the end of the war, in October 1946, two models were on display on the Simca stand, being the Simca 5 and the Simca 8, at this stage barely distinguishable from their pre-war equivalents. A new car arrived in 1948 with the Simca 6, a development of the Simca 5 which it would eventually replace, and featuring an overhead valve 570 cc engine: the Simca 6 was launched ahead of the introduction of the equivalent Fiat.

The French economy in this period was in a precarious condition and government pressure was applied on the auto-makers to maximize export sales. During the first eight months of 1947, Simca exported 70% of cars produced, placing it behind Citroën (92% exported), Renault (90% exported), Peugeot (87% exported) and Ford France (83% exported). In the struggle to maximize exports, Simca was handicapped by the fact that it could not compete with its principal Italian shareholder, Fiat.

Aronde and Ford SAF takeover
The Simca Aronde, launched in 1951, was the first Simca model not based on a Fiat design. It had a 1200 cc engine and its production reached 100,000 units yearly. Following this success, Simca took over the French truck manufacturers Unic in 1951, Saurer in 1956, and the Poissy plant of Ford SAF in 1954. The Poissy plant had ample room for expansion, enabling Simca to consolidate French production in a single plant and, in 1961, to sell the old Nanterre plant.

The 1950s was a decade of growth for Simca, and by 1959 the combined output of the plants at Nanterre and at Poissy had exceeded 225,000 cars, placing the manufacturer in second place among French automakers in volume terms, ahead of Peugeot and Citroën, though still far behind market leader Renault.

The Ford purchase also added the V-8 powered Ford Vedette range to the Simca stable. This model continued to be produced and progressively upgraded until 1962 in France and 1967 in Brazil, but with various names under the Simca badge. An Aronde-powered version was also made in 1957 and called the Ariane which, because it was economical and had a large body, was popular as a taxi.

In 1958, Simca bought the French Talbot-Lago manufacturing company.

Brazil
The Simca plant received a visit by Juscelino Kubitschek before his inauguration in 1956, organized by a Brazilian General who had a family member employed there. He jokingly invited Simca to build a plant in Minas Gerais, his home state. Simca followed through and sent a letter of intent to this effect. In the interim, Brazil had formed an (GEIA), which had established a set of requirements for any producer wishing to establish a plant in Brazil. Simca claimed that their proposal and arrangement with Kubitschek pre-dated these rules and lobbied for exceptions. Simca also lobbied directly in Minas, but in the end were forced to present their own proposal, which was accepted with a number of conditions. The delays in passing the GEIA rules meant that Simca, which established its first plant in São Paulo, was unable to access hard currency and suffered severe parts shortages as a result. Simca quickly developed a reputation for low quality which it was unable to shake.

Simca do Brasil was originally 50% Brazilian-owned, but after Chrysler took over Simca France in 1966 they also obtained control of the Brazilian arm. Simca remained based in São Paulo for the entire time they were active in Brazil and never moved to Minas, as originally promised. Their range was built around the 2.4 liter V8-engined Simca Vedette, which entered production in Brazil in March 1959. It was built under a variety of names and in a number of different bodystyles, until the Simca badge was retired there in 1969. Later models were redesigned completely, and were sold as the Simca Esplanada.

Fulgur
The Simca Fulgur was a concept car designed in 1958 by Robert Opron for Simca and first displayed at the 1959 Geneva Auto Show. It was also displayed at the New York Auto Show, and the 1961 Chicago Auto Show. The concept car was intended to show what cars in the year 2000 would look like. It was to be atomic powered, voice controlled, guided by radar, and use only two wheels balanced by gyroscopes when driven at over 150 km/h. Fulgur is Latin for flash or lightning.

Chrysler
In 1958, the American car manufacturer Chrysler, which wanted to enter the European car market, bought 15% of Simca from Ford in a deal which Henry Ford II was later reported as having publicly regretted. At this stage, however, the dominant shareholder remained Fiat S.p.A., and their influence is apparent in the engineering and design of Simcas of that period such as the 1000 and 1300 models introduced respectively in 1961 and 1963. However, in 1963 Chrysler increased their stake to a controlling 64% by purchasing stock from Fiat, and they subsequently extended that holding further to 77%. Even in 1971 Fiat retained a 19% holding, but by now they had long ceased to play an active role in the business.

Also, in 1964 Chrysler bought the British manufacturer Rootes thus putting together the basis of Chrysler Europe. All the Simca models manufactured after 1967 had the Chrysler pentastar logo as well as Simca badging. In 1961, Simca started to manufacture all of its models in the ex-Ford SAF factory in Poissy and sold the factory at Nanterre to Citroën. The rear-engined Simca 1000 was introduced in 1961 with its sporting offspring, the Simca-Abarth in 1963. The 1000 also served as the platform for the 1000 Coupe, a sports coupe sporting a Bertone-designed body by Giorgetto Giugiaro and 4-wheel disc brakes. It debuted in 1963 and was described by Car Magazine as "the world's neatest small coupe". 1967 saw the more powerful 1200S Bertone Coupe that, with a horsepower upgrade in 1970, could reach the dizzying speed of almost 112 mph (180 km/h), making it the fastest standard production Simca ever built. In 1967, a much more up to date car, the 1100, appeared with front wheel drive and independent suspension all round, and continued in production until 1979. On 1 July 1970 the company title was formally changed to Chrysler France.

Collapse of Chrysler Europe
The most successful pre-Chrysler Simca models were the Aronde, the Simca 1000 and the front-engined 1100 compact. During the 1970s Chrysler era, Simca produced the new Chrysler 160/180/2 litre saloon, 1307 range (Chrysler Alpine in the UK) and later the Horizon, (Dodge Omni and Plymouth Horizon in the USA). The 1307 and Horizon were both named European Car of the Year at launch. However, Chrysler's forced marriage of Simca and Rootes was not a happy one - Chrysler Europe collapsed in 1977 and the remains were sold to Peugeot SA the following year for a nominal US$1.00 plus assumption of outstanding debt. The cars sold reasonably well in France, but were outsold by their key Ford, British Leyland and Vauxhall rivals in Britain.

The last remaining Simca and Rootes models were discontinued by the end of 1981, and the Simca-based Alpine and Horizon soldiered on through the first half of the 1980s using the resurrected Talbot badge, which itself had vanished from passenger cars within a decade.

Meanwhile, Peugeot expanded its own brand and made use of the former Simca and Rootes factories for production of its own vehicles, although the Talbot brand survived into the 1990s on commercial vehicles.

Afterlife
Peugeot eventually abandoned the Talbot brand, and the last Simca design was launched as Peugeot 309 (instead of Talbot Arizona as had been originally planned). The Peugeot 309 used Simca engines until October 1991 (some 18 months before the end of production) when they were replaced by PSA's own TU and XU series of engines. The 309 was produced at the former Rootes factory in Ryton-on-Dunsmore, UK, as well as in the Poissy plant.

Simcas were also manufactured in Brazil, Colombia, Spain and Finland. The last Simca-based car produced was the Horizon-based Dodge Omni, which was built in the USA until 1990. The European equivalent had already been axed three years earlier when use of the Talbot name on passenger cars was finally discontinued.

Models

 * Simca 5
 * Simca 6
 * Simca 8
 * Simca 9
 * Simca 11
 * Simca Gordini Type 15 (Grand Prix racing car)
 * Simca Aronde
 * Simca Ariane
 * Simca Vedette (also manufactured in license by Simca do Brasil with the names Simca Chambord, Simca Alvorada, Simca Profissional and Simca Présidence)
 * Simca Jangada (Brazilian model)
 * Simca Esplanada (Brazilian model)
 * Simca Regente (Brazilian model)
 * Simca Tufão (Brazilian model)
 * Simca GTX (Brazilian model)
 * Simca 1000
 * Simca 1000 Coupé
 * Simca 1100
 * Simca 1300/1500
 * Simca 1301/1501
 * Simca 1200S
 * Chrysler-Simca 1609/1610/2-Litre
 * Matra-Simca Bagheera
 * Matra-Simca Rancho
 * Simca 1307/1308/1309/1s510
 * Simca Horizon
 * Talbot-Simca Solara

title: Simca


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Scattering

In physics, scattering is a wide range of physical processes where moving particles or radiation of some form, such as light or sound, are forced to deviate from a straight trajectory by localized non-uniformities (including particles and radiation) in the medium through which they pass. In conventional use, this also includes deviation of reflected radiation from the angle predicted by the law of reflection. Reflections of radiation that undergo scattering are often called diffuse reflections and unscattered reflections are called specular (mirror-like) reflections. Originally, the term was confined to light scattering (going back at least as far as Isaac Newton in the 17th century ). As more "ray"-like phenomena were discovered, the idea of scattering was extended to them, so that William Herschel could refer to the scattering of "heat rays" (not then recognized as electromagnetic in nature) in 1800. John Tyndall, a pioneer in light scattering research, noted the connection between light scattering and acoustic scattering in the 1870s. Near the end of the 19th century, the scattering of cathode rays (electron beams) and X-rays was observed and discussed. With the discovery of subatomic particles (e.g. Ernest Rutherford in 1911 ) and the development of quantum theory in the 20th century, the sense of the term became broader as it was recognized that the same mathematical frameworks used in light scattering could be applied to many other phenomena.

Scattering can refer to the consequences of particle-particle collisions between molecules, atoms, electrons, photons and other particles. Examples include: cosmic ray scattering in the Earth's upper atmosphere; particle collisions inside particle accelerators; electron scattering by gas atoms in fluorescent lamps; and neutron scattering inside nuclear reactors.

The types of non-uniformities which can cause scattering, sometimes known as scatterers or scattering centers, are too numerous to list, but a small sample includes particles, bubbles, droplets, density fluctuations in fluids, crystallites in polycrystalline solids, defects in monocrystalline solids, surface roughness, cells in organisms, and textile fibers in clothing. The effects of such features on the path of almost any type of propagating wave or moving particle can be described in the framework of scattering theory.

Some areas where scattering and scattering theory are significant include radar sensing, medical ultrasound, semiconductor wafer inspection, polymerization process monitoring, acoustic tiling, free-space communications and computer-generated imagery. Particle-particle scattering theory is important in areas such as particle physics, atomic, molecular, and optical physics, nuclear physics and astrophysics. In particle physics the quantum interaction and scattering of fundamental particles is described by the Scattering Matrix or S-Matrix, introduced and developed by John Archibald Wheeler and Werner Heisenberg.

Scattering is quantified using many different concepts, including scattering cross section (σ), attenuation coefficients, the bidirectional scattering distribution function (BSDF), S-matrices, and mean free path.

Single and multiple scattering

When radiation is only scattered by one localized scattering center, this is called single scattering. It is more common that scattering centers are grouped together; in such cases, radiation may scatter many times, in what is known as multiple scattering. The main difference between the effects of single and multiple scattering is that single scattering can usually be treated as a random phenomenon, whereas multiple scattering, somewhat counterintuitively, can be modeled as a more deterministic process because the combined results of a large number of scattering events tend to average out. Multiple scattering can thus often be modeled well with diffusion theory.

Because the location of a single scattering center is not usually well known relative to the path of the radiation, the outcome, which tends to depend strongly on the exact incoming trajectory, appears random to an observer. This type of scattering would be exemplified by an electron being fired at an atomic nucleus. In this case, the atom's exact position relative to the path of the electron is unknown and would be unmeasurable, so the exact trajectory of the electron after the collision cannot be predicted. Single scattering is therefore often described by probability distributions.

With multiple scattering, the randomness of the interaction tends to be averaged out by a large number of scattering events, so that the final path of the radiation appears to be a deterministic distribution of intensity. This is exemplified by a light beam passing through thick fog. Multiple scattering is highly analogous to diffusion, and the terms multiple scattering and diffusion are interchangeable in many contexts. Optical elements designed to produce multiple scattering are thus known as diffusers. Coherent backscattering, an enhancement of backscattering that occurs when coherent radiation is multiply scattered by a random medium, is usually attributed to weak localization.

Not all single scattering is random, however. A well-controlled laser beam can be exactly positioned to scatter off a microscopic particle with a deterministic outcome, for instance. Such situations are encountered in radar scattering as well, where the targets tend to be macroscopic objects such as people or aircraft.

Similarly, multiple scattering can sometimes have somewhat random outcomes, particularly with coherent radiation. The random fluctuations in the multiply scattered intensity of coherent radiation are called speckles. Speckle also occurs if multiple parts of a coherent wave scatter from different centers. In certain rare circumstances, multiple scattering may only involve a small number of interactions such that the randomness is not completely averaged out. These systems are considered to be some of the most difficult to model accurately.

The description of scattering and the distinction between single and multiple scattering are tightly related to wave–particle duality.

Theory
Scattering theory is a framework for studying and understanding the scattering of waves and particles. Prosaically, wave scattering corresponds to the collision and scattering of a wave with some material object, for instance (sunlight) scattered by rain drops to form a rainbow. Scattering also includes the interaction of billiard balls on a table, the Rutherford scattering (or angle change) of alpha particles by gold nuclei, the Bragg scattering (or diffraction) of electrons and X-rays by a cluster of atoms, and the inelastic scattering of a fission fragment as it traverses a thin foil. More precisely, scattering consists of the study of how solutions of partial differential equations, propagating freely "in the distant past", come together and interact with one another or with a boundary condition, and then propagate away "to the distant future".

The direct scattering problem is the problem of determining the distribution of scattered radiation/particle flux basing on the characteristics of the scatterer. The inverse scattering problem is the problem of determining the characteristics of an object (e.g., its shape, internal constitution) from measurement data of radiation or particles scattered from the object.

Attenuation due to scattering

When the target is a set of many scattering centers whose relative position varies unpredictably, it is customary to think of a range equation whose arguments take different forms in different application areas. In the simplest case consider an interaction that removes particles from the "unscattered beam" at a uniform rate that is proportional to the incident number of particles per unit area per unit time ($$I$$), i.e. that

 * $$ \frac{dI}{dx}=-QI \,\!$$

where Q is an interaction coefficient and x is the distance traveled in the target.

The above ordinary first-order differential equation has solutions of the form:

 * $$I = I_o e^{-Q \Delta x} = I_o e^{-\frac{\Delta x}{\lambda}} = I_o e^{-\sigma (\eta \Delta x)} = I_o e^{-\frac{\rho \Delta x}{\tau}} ,$$

where Io is the initial flux, path length Δx ≡ x − xo, the second equality defines an interaction mean free path λ, the third uses the number of targets per unit volume η to define an area cross-section σ, and the last uses the target mass density ρ to define a density mean free path τ. Hence one converts between these quantities via Q = 1/λ = ησ = ρ/τ, as shown in the figure at left.

In electromagnetic absorption spectroscopy, for example, interaction coefficient (e.g. Q in cm−1) is variously called opacity, absorption coefficient, and attenuation coefficient. In nuclear physics, area cross-sections (e.g. σ in barns or units of 10−24 cm2), density mean free path (e.g. τ in grams/cm2), and its reciprocal the mass attenuation coefficient (e.g. in cm2/gram) or area per nucleon are all popular, while in electron microscopy the inelastic mean free path (e.g. λ in nanometers) is often discussed instead.

Elastic and inelastic scattering
The term "elastic scattering" implies that the internal states of the scattering particles do not change, and hence they emerge unchanged from the scattering process. In inelastic scattering, by contrast, the particles' internal state is changed, which may amount to exciting some of the electrons of a scattering atom, or the complete annihilation of a scattering particle and the creation of entirely new particles.

The example of scattering in quantum chemistry is particularly instructive, as the theory is reasonably complex while still having a good foundation on which to build an intuitive understanding. When two atoms are scattered off one another, one can understand them as being the bound state solutions of some differential equation. Thus, for example, the hydrogen atom corresponds to a solution to the Schrödinger equation with a negative inverse-power (i.e., attractive Coulombic) central potential. The scattering of two hydrogen atoms will disturb the state of each atom, resulting in one or both becoming excited, or even ionized, representing an inelastic scattering process.

The term "deep inelastic scattering" refers to a special kind of scattering experiment in particle physics.

Mathematical framework
In mathematics, scattering theory deals with a more abstract formulation of the same set of concepts. For example, if a differential equation is known to have some simple, localized solutions, and the solutions are a function of a single parameter, that parameter can take the conceptual role of time. One then asks what might happen if two such solutions are set up far away from each other, in the "distant past", and are made to move towards each other, interact (under the constraint of the differential equation) and then move apart in the "future". The scattering matrix then pairs solutions in the "distant past" to those in the "distant future".

Solutions to differential equations are often posed on manifolds. Frequently, the means to the solution requires the study of the spectrum of an operator on the manifold. As a result, the solutions often have a spectrum that can be identified with a Hilbert space, and scattering is described by a certain map, the S matrix, on Hilbert spaces. Solutions with a discrete spectrum correspond to bound states in quantum mechanics, while a continuous spectrum is associated with scattering states. The study of inelastic scattering then asks how discrete and continuous spectra are mixed together.

An important, notable development is the inverse scattering transform, central to the solution of many exactly solvable models.

Theoretical physics
In mathematical physics, scattering theory is a framework for studying and understanding the interaction or scattering of solutions to partial differential equations. In acoustics, the differential equation is the wave equation, and scattering studies how its solutions, the sound waves, scatter from solid objects or propagate through non-uniform media (such as sound waves, in sea water, coming from a submarine). In the case of classical electrodynamics, the differential equation is again the wave equation, and the scattering of light or radio waves is studied. In particle physics, the equations are those of Quantum electrodynamics, Quantum chromodynamics and the Standard Model, the solutions of which correspond to fundamental particles.

In regular quantum mechanics, which includes quantum chemistry, the relevant equation is the Schrödinger equation, although equivalent formulations, such as the Lippmann-Schwinger equation and the Faddeev equations, are also largely used. The solutions of interest describe the long-term motion of free atoms, molecules, photons, electrons, and protons. The scenario is that several particles come together from an infinite distance away. These reagents then collide, optionally reacting, getting destroyed or creating new particles. The products and unused reagents then fly away to infinity again. (The atoms and molecules are effectively particles for our purposes. Also, under everyday circumstances, only photons are being created and destroyed.) The solutions reveal which directions the products are most likely to fly off to and how quickly. They also reveal the probability of various reactions, creations, and decays occurring. There are two predominant techniques of finding solutions to scattering problems: partial wave analysis, and the Born approximation.

Electromagnetics
Electromagnetic waves are one of the best known and most commonly encountered forms of radiation that undergo scattering. Scattering of light and radio waves (especially in radar) is particularly important. Several different aspects of electromagnetic scattering are distinct enough to have conventional names. Major forms of elastic light scattering (involving negligible energy transfer) are Rayleigh scattering and Mie scattering. Inelastic scattering includes Brillouin scattering, Raman scattering, inelastic X-ray scattering and Compton scattering.

Light scattering is one of the two major physical processes that contribute to the visible appearance of most objects, the other being absorption. Surfaces described as white owe their appearance to multiple scattering of light by internal or surface inhomogeneities in the object, for example by the boundaries of transparent microscopic crystals that make up a stone or by the microscopic fibers in a sheet of paper. More generally, the gloss (or lustre or sheen) of the surface is determined by scattering. Highly scattering surfaces are described as being dull or having a matte finish, while the absence of surface scattering leads to a glossy appearance, as with polished metal or stone.

Spectral absorption, the selective absorption of certain colors, determines the color of most objects with some modification by elastic scattering. The apparent blue color of veins in skin is a common example where both spectral absorption and scattering play important and complex roles in the coloration. Light scattering can also create color without absorption, often shades of blue, as with the sky (Rayleigh scattering), the human blue iris, and the feathers of some birds (Prum et al. 1998). However, resonant light scattering in nanoparticles can produce many different highly saturated and vibrant hues, especially when surface plasmon resonance is involved (Roqué et al. 2006).

Models of light scattering can be divided into three domains based on a dimensionless size parameter, α which is defined as: $$\alpha = \pi D_\text{p} / \lambda,$$ where πDp is the circumference of a particle and λ is the wavelength of incident radiation in the medium. Based on the value of α, these domains are:
 * α ≪ 1: Rayleigh scattering (small particle compared to wavelength of light);
 * α ≈ 1: Mie scattering (particle about the same size as wavelength of light, valid only for spheres);
 * α ≫ 1: geometric scattering (particle much larger than wavelength of light).

Rayleigh scattering is a process in which electromagnetic radiation (including light) is scattered by a small spherical volume of variant refractive indexes, such as a particle, bubble, droplet, or even a density fluctuation. This effect was first modeled successfully by Lord Rayleigh, from whom it gets its name. In order for Rayleigh's model to apply, the sphere must be much smaller in diameter than the wavelength (λ) of the scattered wave; typically the upper limit is taken to be about 1/10 the wavelength. In this size regime, the exact shape of the scattering center is usually not very significant and can often be treated as a sphere of equivalent volume. The inherent scattering that radiation undergoes passing through a pure gas is due to microscopic density fluctuations as the gas molecules move around, which are normally small enough in scale for Rayleigh's model to apply. This scattering mechanism is the primary cause of the blue color of the Earth's sky on a clear day, as the shorter blue wavelengths of sunlight passing overhead are more strongly scattered than the longer red wavelengths according to Rayleigh's famous 1/λ4 relation. Along with absorption, such scattering is a major cause of the attenuation of radiation by the atmosphere. The degree of scattering varies as a function of the ratio of the particle diameter to the wavelength of the radiation, along with many other factors including polarization, angle, and coherence.

For larger diameters, the problem of electromagnetic scattering by spheres was first solved by Gustav Mie, and scattering by spheres larger than the Rayleigh range is therefore usually known as Mie scattering. In the Mie regime, the shape of the scattering center becomes much more significant and the theory only applies well to spheres and, with some modification, spheroids and ellipsoids. Closed-form solutions for scattering by certain other simple shapes exist, but no general closed-form solution is known for arbitrary shapes.

Both Mie and Rayleigh scattering are considered elastic scattering processes, in which the energy (and thus wavelength and frequency) of the light is not substantially changed. However, electromagnetic radiation scattered by moving scattering centers does undergo a Doppler shift, which can be detected and used to measure the velocity of the scattering center/s in forms of techniques such as lidar and radar. This shift involves a slight change in energy.

At values of the ratio of particle diameter to wavelength more than about 10, the laws of geometric optics are mostly sufficient to describe the interaction of light with the particle. Mie theory can still be used for these larger spheres, but the solution often becomes numerically unwieldy.

For modeling of scattering in cases where the Rayleigh and Mie models do not apply such as larger, irregularly shaped particles, there are many numerical methods that can be used. The most common are finite-element methods which solve Maxwell's equations to find the distribution of the scattered electromagnetic field. Sophisticated software packages exist which allow the user to specify the refractive index or indices of the scattering feature in space, creating a 2- or sometimes 3-dimensional model of the structure. For relatively large and complex structures, these models usually require substantial execution times on a computer.

Electrophoresis involves the migration of macromolecules under the influence of an electric field. Electrophoretic light scattering involves passing an electric field through a liquid which makes particles move. The bigger the charge is on the particles, the faster they are able to move.

license: Creative Commons - Attribution Share-Alike - https://creativecommons.org/licenses/by-sa/4.0/

title: Scattering


text:
Kate Douglas Wiggin

Kate Douglas Wiggin (September 28, 1856 – August 24, 1923) was an American educator, author and composer. She wrote children's stories, most notably the classic children's novel Rebecca of Sunnybrook Farm, and composed collections of children's songs. She started the first free kindergarten in San Francisco in 1878 (the Silver Street Free Kindergarten). With her sister during the 1880s, she also established a training school for kindergarten teachers. Kate Wiggin devoted her adult life to the welfare of children in an era when children were commonly thought of as cheap labor.

Wiggin went to California to study kindergarten methods. She began to teach in San Francisco with her sister Nora assisting her, and the two were instrumental in the establishment of over 60 kindergartens for the poor in San Francisco and Oakland. She moved from California to New York, and having no kindergarten work on hand, devoted herself to literature. She sent The Story of Patsy and The Bird's Christmas Carol to Houghton, Mifflin & Co. who accepted them at once. Besides the talent for story-telling, she was a musician, sang well, and composed settings for her poems. She was also an excellent elocutionist. Her first literary work was Half a Dozen Housekeepers, a serial story which she sent to St. Nicholas. After the death of her husband in 1889, she returned to California to resume her kindergarten work, serving as the head of a Kindergarten Normal School. Some of her other works included Cathedral Courtship, A Summer in a Canon, Timothy's Quest, The Story Hour, Kindergarten Chimes, Polly Oliver's Problem, and Children's Rights.

Early life

Kate Douglas Smith Wiggin was born in Philadelphia, the daughter of lawyer Robert N. Smith, and of Welsh descent. Kate experienced a happy childhood, even though it was colored by the American Civil War and her father's death. Kate and her sister Nora were still quite young when their widowed mother moved her little family from Philadelphia to Portland, Maine, then, three years later, upon her remarriage, to the little village of Hollis. There Kate matured in rural surroundings, with her sister and her new baby brother Philip.

Notably, she once met the novelist Charles Dickens. Her mother and another relative had gone to hear Dickens read in Portland, but Wiggin, aged 11, was thought to be too young to warrant an expensive ticket. The following day, she found herself on the same train as Dickens and engaged him in a lively conversation for the course of the journey, an experience which she later detailed in a short memoir titled A Child's Journey with Dickens (1912).

Her education was spotty, consisting of a short stint at a dame school, some home schooling under the "capable, slightly impatient, somewhat sporadic" instruction of Albion Bradbury (her stepfather), a brief spell at the district school, a year as a boarder at the Gorham Female Seminary, a winter term at Morison Academy in Baltimore, Maryland, and a few months' stay at Abbot Academy in Andover, Massachusetts, where she graduated with the class of 1873. Although rather casual, this was more education than most women received at the time.

Early career
In 1873, hoping to ease Albion Bradbury's lung disease, Kate's family moved to Santa Barbara, California, where Kate's stepfather died three years later. A kindergarten training class was opening in Los Angeles under Emma Marwedel (1818–1893), and Kate enrolled. After graduation, in 1878, she headed the first free kindergarten in California, on Silver Street in the slums of San Francisco. The children were "street Arabs of the wildest type", but Kate had a loving personality and dramatic flair. By 1880 she was forming a teacher-training school in conjunction with the Silver Street kindergarten.

In 1881, Kate married (Samuel) Bradley Wiggin, a San Francisco lawyer. According to the customs of the time, she was required to resign her teaching job. Still devoted to her school, she began to raise money for it through writing, first The Story of Patsy (1883), then The Birds' Christmas Carol (1887). Both privately printed books were issued commercially by Houghton Mifflin in 1889, with enormous success.

Kate Wiggin had no children. She moved to New York City in 1888. When her husband died suddenly in 1889, Kate relocated to Maine. For the rest of her life she grieved, but she also traveled as frequently as she could, dividing her time between writing, visits to Europe, and giving public reading for the benefit of various children's charities.

Wiggin traveled abroad and back from Liverpool in the United Kingdom at least three times. Records from the Ellis Island logs show that she arrived back in New York City from Liverpool in October 1892, July 1893, and July 1894. On the logs for the 1892 trip, Wiggin describes her occupation as "Wife", despite her former husband dying three years prior. In 1893 and 1894, she describes herself as an "Authoress".

Wiggin met dry goods (specifically, linen) importer George Christopher Riggs on her way to England in 1894. The pair are said to have hit it off and had agreed to marry even before the ship docked in England. In the Ellis Island logs from Wiggin's 1894 trip back to New York City from Liverpool, the two sign their names next to each other, indicating their closeness. The pair married in New York City on March 30, 1895, at All Souls Church. George Riggs soon became one of Wiggin's biggest advocates as she became more successful. After the marriage she continued to write under the name of Wiggin. Her literary output included popular books for adults; with her sister, Nora A. Smith, she published scholarly work on the educational principles of Friedrich Fröbel: Froebel's Gifts (1895), Froebel's Occupations (1896), and Kindergarten Principles and Practice (1896); and she wrote the classic children's novel Rebecca of Sunnybrook Farm (1903), as well as the 1905 best-seller Rose o' the River. Rebecca of Sunnybrook Farm became an immediate bestseller; both it and Mother Carey's Chickens (1911) were adapted to the stage. Houghton Mifflin collected her writings in 10 volumes in 1917. For a time, she lived at Quillcote, her summer home in Hollis, Maine (now listed on the National Register of Historic Places). Quillcote is around the corner from the town's library, the Salmon Falls Library, which Wiggin founded in 1911. Wiggin founded the Dorcas Society of Hollis & Buxton, Maine in 1897. The Tory Hill Meeting House in the adjacent town of Buxton, Maine inspired her book (and later play) The Old Peabody Pew (1907).

Later life and death
Wiggin was an active and popular hostess in New York and in the community of Upper Largo, Scotland, where she had a summer home and where she organized plays for many years, as detailed in her memoir My Garden of Memory.

In 1921, Wiggin and her sister Nora Archibald Smith edited an edition of Jane Porter's The Scottish Chiefs, an 1809 novel of William Wallace, for the Scribner's Illustrated Classics series, illustrated by N.C. Wyeth. During the spring of 1923, Kate Wiggin traveled to England as a New York delegate to the Dickens Fellowship. There she became ill and died, at age 66, of bronchial pneumonia. At her request, her ashes were brought home to Maine and scattered over the Saco River. Her autobiography, My Garden of Memory, was published after her death. In sorting through material for her autobiography, she put many items in a box she and her sister labelled "posthumous". Her sister Nora A. Smith later published her own reminiscences, titled Kate Douglas Wiggin as her Sister Knew Her, from these materials.

Wiggin was also a songwriter and composer. For "Kindergarten Chimes" (1885) and other collections for children, she wrote some of the lyrics, music, and arrangements. For "Nine Love Songs and a Carol" (1896), she composed all of the music.

Legacy
In the 1980s and 1990s, Wiggin's first husband's distant cousin, Eric E. Wiggin, published updated versions of some books in Kate Douglas Wiggin's Rebecca of Sunnybrook Farm series. He later published his own addition to the series, entitled, Rebecca Returns to Sunnybrook. Eric E. Wiggin extended Kate Douglas Wiggin's series after years of writing Christian literature, newspaper articles, and other children's books. Eric E. Wiggin's books sold best among his target audience of homeschoolers; with their help, his updated novels and his new addition to the series have sold more than 50,000 copies.

Many of Kate Douglas Wiggin's novels were made into movies. Perhaps the most famous film adaptation of her books is the 1938 film, which stars Shirley Temple.

Selected works

 * The Story of Patsy (1883)
 * The Birds' Christmas Carol (1887)
 * A Summer in a Canyon: A California Story (1889)
 * Timothy's Quest (1890), illustrated by Oliver Herford
 * Polly Oliver's Problem (1893)
 * A Cathedral Courtship, and Penelope's English Experiences (1893)
 * The Village Watch-Tower (1895)
 * Penelope's Progress (1898)
 * Penelope's Travels in Scotland (1898)
 * Penelope's Irish Experiences (1901)
 * The Diary of a Goose Girl (1902), illus. Claude A. Shepperson
 * Rebecca of Sunnybrook Farm (1903)
 * Half-a-Dozen Housekeepers (1903)
 * Rose o' the River (1905)
 * New Chronicles of Rebecca (1907)
 * Homespun Tales (1907)
 * The Old Peabody Pew (1907)
 * Susanna and Sue (1909)
 * Mother Carey's Chickens (1911)
 * Robinetta (1911)
 * A Child's Journey with Dickens (1912)
 * The Story of Waitstill Baxter (1913)
 * The Romance of a Christmas Card (1916)
 * Marm Lisa
 * My Garden of Memory (autobiography, published posthumously in 1923)

 * With Nora A. Smith
 * The Story Hour: a book for the home and kindergarten (1890), LCCN 14-19353
 * Golden Numbers: a book of verse for youth, eds. (1902), LCCN 02-27230
 * The Posy Ring: a book of verse for children, eds. (1903) – "companion volume", LCCN 03-5775
 * The Fairy Ring, eds. (1906); truncated as Fairy Stories Every Child Should Know (1942), illus. Elizabeth MacKinstry
 * Magic Casements: A Second Fairy Book, eds. (1907)
 * Pinafore Palace: a book of rhymes for the nursery, eds. (1907)
 * Tales of Laughter: A Third Fairy Book, eds. (1908)
 * The Arabian Nights: their best-known tales, eds. (1909), illus. Maxfield Parrish
 * Tales of Wonder: A Fourth Fairy Book, eds. (1909)
 * The Talking Beasts: a book of fable wisdom, eds. (1911)
 * An Hour with the Fairies (1911)
 * Twilight Stories: more tales for the story hour, eds. (1925), LCCN 25-17938
 * The Story Hour. A Book for the Home and Kingergarten
 * Children's Rights
 * The Republic of Childhood (3 volumes)
 * Marm Lisa

 * About Kate Douglas Wiggin
 * Kate Douglas Wiggin as Her Sister Knew Her (1925)

Filmography

 * A Bit o' Heaven (1917), directed by Lule Warrenton, based on the novel The Birds' Christmas Carol
 * Rebecca of Sunnybrook Farm (1917), starring Mary Pickford, directed by Marshall Neilan (based on the novel Rebecca of Sunnybrook Farm)
 * Rose o' the River (1919), directed by Robert Thornby (based on the novel Rose o' the River)
 * Timothy's Quest (1922), directed by Sidney Olcott (based on the story Timothy's Quest)
 * Rebecca of Sunnybrook Farm (1932), directed by Alfred Santell (based on the novel Rebecca of Sunnybrook Farm)
 * Timothy's Quest (1936), directed by Charles Barton (based on the story Timothy's Quest)
 * Rebecca of Sunnybrook Farm (1938), starring Shirley Temple, directed by Allan Dwan (based on the novel Rebecca of Sunnybrook Farm)
 * Mother Carey's Chickens (1938), directed by Rowland V. Lee (based on the novel Mother Carey's Chickens)
 * Summer Magic (1963), a Walt Disney production starring Hayley Mills, directed by James Neilson (based on the novel Mother Carey's Chickens)
 * Christmas World: "The Bird's Christmas Carol" (2019), a Once Upon a Tale Entertainment presentation, directed by James Arrow (uncreditedly, based on the novel The Birds' Christmas Carol)

title: Kate Douglas Wiggin


text:
Talk:Insider trading

Wiki Education Foundation-supported course assignment
This article was the subject of a Wiki Education Foundation-supported course assignment, between 10 January 2019 and 18 April 2019. Further details are available on the course page. Student editor(s): Lgonz498. Peer reviewers: Rvale045, Rayal021.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 00:34, 17 January 2022 (UTC)

Peer Review
Hi Leo, not surprised by your article! Haha. My only suggestions are to perhaps improve the introduction by splitting it up? The whole article is pretty lengthy. I caught myself getting lost in the beginning and from our modules, the "best articles" get right to the point in the intro. Otherwise, it's a great topic for business. There are plenty of references so it's going to be tough work. I see below that a contributor said there's an imbalance on the UK's perspective. That's a start! Also, I couldn't find your edits so I can't really review that aspect. Otherwise, I'm excited to see what you come up with! Rayal021 (talk) 03:34, 4 April 2019 (UTC)

General Content of Article
Ujjwal Kumar Gaurav — Preceding unsigned comment added by 59.97.217.153 (talk) 13:03, 7 December 2011 (UTC) After reading this, its clear that obviously Americans have been the majority contributors.. but there's such an imbalance in that UK legislation is getting a couple of sentences whereas US is covered in several paragraphs. Obviously some infomation would overlap but still. As a UK student, I cannot be confident that most of the general description is correct for my country.

-Si —Preceding unsigned comment added by Special:Contributions/ (talk)

short-swing profits should be mentioned here.

 * Any information you can add to the UK section would be quite welcome! Please be sure to cite your sources when you do. Thank you for your help! —Elipongo (Talk 01:06, 22 February 2007 (UTC)

 * Isn't the UK law on insider trading mostly subsumed by the EU Market Abuse Directive, with actual UK implementation in a state of flux? Anybody an expert on the Market Abuse Directive?  Epstein's Mother 03:15, 22 February 2007 (UTC)

 * The definition of insider trading does not seem appropriate for jurisdictions outside USA. In the UK, "insiders" include any who have information not in the public domain, including advisers or individuals not connected to the company.  I shall try to find some UK and/or EU definitions to add in. PatrickHadfield (talk) 10:51, 7 May 2008 (UTC)

The intro could describe the concept more clearly. As someone who knows little about business or economics etc. it wasn't the easiest of things to understand. – Lee Carré 01:15, 19 June 2007 (UTC)

Actually I was thinking the same thing. I don't know if this represents a world view as much a general description followed by an United States of America case study. -CallipygianSchoolGirl (talk) 03:37, 4 June 2008 (UTC)

Is there a place to perform draft re-writes of articles? I'd like to take the UK section in hand, but I can't do it in one section. Lawdroid (talk) 15:09, 14 February 2009 (UTC)

I think that this could be much less biased and easier to edit if there was a section on US insider trading, with definitions, laws, etc., a UK section, and whatever other sections are needed. Sort of like the whole page, but in miniature, for specific countries. Dreaming Ninja (talk) 21:41, 21 May 2009 (UTC)

The article should also outline in more detail why insider trading is so heavily punished. Only external links to arguments why it should be legalised are listed; but the reasons for illegality are strong and should be included to reduce the pro-insider trading bias of the article. --15:08, 28 May 2009 (UTC)

Cut from text

 * Nevertheless, circumstances can occur when the geologist would be committing fraud if he did not disclose the information, e.g. when he had been hired by Farmer Smith to assess the geology of the farm.

This is a non sequitur. This is an example of a professional who does not act in the best interest of his client - like a lawyer who doesn't act on behalf of his client or a broker who front runs his customer. —Preceding unsigned comment added by 68.198.48.12 (talk) 03:27, 8 February 2008 (UTC)

 * However, analogous activities such as front running are illegal under U.S. commodity and futures trading laws. For example, a commodity broker can be charged with fraud if he or she receives a large purchase order from a client (one likely to affect the price of that commodity) and then purchases that commodity before executing the client's order in order to benefit from the anticipated price increase.

Front running is not insider trading and nor is it the analogue to insider trading in the commodities market as this seems to suggest. Front running is a different concept and is also illegal in stock markets. —Preceding unsigned comment added by 68.198.48.12 (talk) 03:22, 8 February 2008 (UTC)

This was tagged 2 weeks ago:
 * Because insider trading is hard to prove and it's not even clear if it's good or bad for the market, it could be argued that its regulation adds unnecessary complexity to trading, and in addition binds valuable resources of federal enforcement agencies which could be used more usefully.

Not sure whose opinion this is. While I agree with it, personally, this is an encyclopedia. Statement like this need attribution. --Uncle Ed 19:43, 22 March 2007 (UTC)

 * Not all trading on information is illegal inside trading, however. For example, while dining at a restaurant, you hear the CEO of Company A at the next table telling the CFO that the company will be taken over, and then you buy the stock, you might not be guilty of insider trading unless there was some closer connection between you, the company, or the company officers.

This is incorrect. Rule 14e-3 prohibits trading on non-public information related to tender offers even if that information was not misappropraited. See http://www.law.uc.edu/CCL/34ActRls/rule14e-3.html. The SEC promulgated 14e-3 in response to the Chiarella decision by the supreme court in 1980. —Preceding unsigned comment added by 67.81.179.162 (talk) 22:16, 2 October 2008 (UTC)

Arguments for Insider Trading by Governments
I reverted this section, simply because it is not referenced in any way and is therefore original research WP:NOR. With some sort of references it could certainly go in. To me, the thinking itself does not look so original (Briefly approx. "governemnts may trade on information that only they have and give benefit to the public" - this is in many ways standard thinking in many fields) but the original part is in labeling it "insider trading." If other people use this label, it should certainly go in - but as it stood it is just confusing. Smallbones 09:46, 30 March 2007 (UTC)

 * I agree (and think you are too kind in your description of the "research"). It reads like someone who imagines they just thought up the idea that a government could borrow billions of dollars, refuse to pay it back, and lower taxes as a result. Epstein's Mother 14:39, 4 April 2007 (UTC)

Spam links
I deleted the links to SECform4.com, which is repeatedly added back in by someone who seems to go around Wikipedia adding in advertising links. In its place, I've added in a link to the most recent filings of the SEC's Edgar database, which has the most recent disclosure forms by corporate insiders on their trades of shares in companies in which they are officers, directors, or of which they control either 5 percent or 10 percent of the shares. Hopefully, this will provide readers with any information they want without subjecting them to the hard sell of a trading company. Epstein's Mother 18:49, 28 April 2007 (UTC)
 * I agree and have removed them again. They seem to violate WP:EL's guidance about links normally to be avoided (items 1 and 3, at the very least). Deli nk 19:27, 1 May 2007 (UTC)

American insider trading laws
There is a new addition on a recently introduced on the so-called "Stop Trading on Congressional Knowledge Act" bill. The paragraph doesn't indicate whether this bill has any Senate sponsors or the odds that it will be enacted. Since bills are introduced all the time and only a comparatively small number are passed, I suggest deleting this paragraph until the bill advances further. After all, this section is about what the law is, not what the law could (maybe) become. (In addition, the description provided of the bill doesn't indicate how it is any different from Rule 10b-5. Presumably, the SEC would still pursue someone for a 10b-5 violation if they traded based on material non-public information, even if that material non-public information came from Congress.  This is essentially the same type of case that has been brought in the past against individuals trading on material non-public information acquired from the Food and Drug Administration or the Agriculture Depart.)  Let me know if you disagree. Epstein's Mother 16:28, 29 May 2007 (UTC) "So-Called" Indicates social bias and is a negatistic opinion against this law, and in violation of Wikipedia rules to keep it scholarly. Some discussion needs to ne included as to whether or not as a group, by being afforded special rights and privilages by way of an unfair business advantage with regards to their trading activities on US Stock Exchange, because US lawmakers activities are not regulated while everyone else's activities are, as an institition have US lawmakers violated Sherman Anti-Trust Act in any any way? We need a discussion in here and on the page on this topic specifically.173.75.221.137 (talk) 06:14, 22 August 2010 (UTC)

 * In May of 2007, representatives Brian Baird and Louise Slaughter introduced a bill entitled the "Stop Trading on Congressional Knowledge Act, or STOCK Act." that would hold congressional and federal employees liable for stock trades they made using information they gained through their jobs. The bill would also seek to regulate so called "Political Intelligence" firms that research government activities and sell the information to financial managers.

 * It might be an interesting detail to add - since the "Political intelligence" regulation is quite different from current law. But the bill probably won't pass (the PI stuff is too different).  There's lots of other stuff that should be added first, e.g. non-US law.  I think that all adds up to a temporary weak keep, IMHO.  Smallbones 18:36, 29 May 2007 (UTC)

Simple question, which I will pose as an example: If I invent something in my garage that allows automobiles to run on water, will my shorting of ExxonMobil constitute insider trading?

I'm guessing no.

66.32.14.236 (talk) 22:42, 22 January 2008 (UTC)

 * No, because you don't owe any duty to ExxonMobil. However, if you invented it on behalf of ExxonMobil (or, possibly, even on behalf of somebody else), and you shorted before they made it public or were able to take advantage of the opportunity themselves, you might be.  Epstein's Mother (talk) 05:25, 23 January 2008 (UTC)

 * Unfortunately, Epstein, your answer is a non sequitor because the prosecution of insider trading laws in the US hasn't been limited to those with duties to the issuer. O'Hagan, for example, had no duty to the issuer in whose stock he was trading. This is important because if the government merely wanted to prohibit breach of fiduciary obligations, it could just use that language, and drop the language of "insider trading" altogether.

 * A better answer to User 66 is that he could short ExxonMobil safely because there is so much that happens in between an invention and its successful exploitation that short selling would still be very risky. Indeed, on his hypothetical I'm not at all sure the information to which he is privy would even be considered material, which excludes further prosecutorial quesries right there. --Christofurio (talk) 21:21, 8 February 2008 (UTC)

 * I disagree. O'Hagan is predicated on a fraud-on-the-market theory, which is far more complex than I think you are letting on.  In addition, Switzer is still good law.  In addition in addition, the method of insider trading and the risk of the trades has nothing to do with whether the law is being violated.  At most you are just saying the chances of getting busted is lower, not that you won't get busted.Epstein's Mother (talk) 02:12, 10 February 2008 (UTC)

 * What you call its "complexity" may be what User 66 is worried about. At any rate, the overly simple statement was yours, not mine. One person's complexity is another person's injustice-waiting-to-happen. Or hasn't it already? O'Hagan had no fiduciary responsibility (in the old-fashioned not-so-complicated sense of that phrase!) to the issuer of the stock in which he traded. --Christofurio (talk) 20:37, 10 February 2008 (UTC) Also, the "materiality" of information has everything to do with whether trading upon it violates the prohibition on insider trading. And it seems a safe rule of thumb that information that doesn't significantly reduce the risk of a trade can't be considered material. --Christofurio (talk) 15:20, 11 February 2008 (UTC) Furthermore, the language of the circuit court’s opinion in Texas Gulf Sulpher was much more sweeping than was necessary to reach its conclusion: "The only regulatory objective" wrote the circuit judge "is that access to material information be enjoyed equally…." Despite the mollifying connotations of the word “only” in that sentence, this objective seems quite a demanding one. And there's nothing there about fiduciary obligations.

 * Indeed, critics soon pointed out that a random local individual, standing outside TGS company offices in Timmins Ontario, who had observed hurried comings-and-goings there, might have taken an educated guess as to what might be going on, and bought shares of TGS stock. Since not everyone could have been at that place at the right time, there would be an asymmetry of information. Access to material information would not be “enjoyed equally” by that buyer and a potential seller of the stock. So could the observant local have been held liable for insider trading under the theory of that case? Unfortunately, yes. Fortunately, the courts haven't stuck at that high-water-mark of the insider-trading prohibition. Yet the uncertainties raised by the above langauge remain. --Christofurio (talk) 13:57, 20 May 2008 (UTC)

 * It would not because (1) you're not a public company and are not required to disclose that information, (2) you have no business dealings with, and provide no services to, Exxon.— DMCer ™  00:40, 11 February 2008 (UTC)

Laws by nature drive prices of stocks in a very direct way. Therefore any trading activities by US lawmakers on US stock Exchange, as to whether or not it consistutes insider trading by nature, is in fact as if US lawmakers owned every single company on the stock exchange, as US lawmakers ability to impact stock prices of any given company is at the level of a CEO, director, or company owner.173.75.221.137 (talk) 06:14, 22 August 2010 (UTC)

What if I'm having problems with stocks relations. DamontG (talk) 23:59, 14 April 2022 (UTC)

Need for a new warning label
Since we're on the subject of legal interpretation, I think this article should have a heading warning readers that this article does not offer legal advice and may not be legally accurate. I say this because some of it may not be 100% legally correct and somebody may interpret it as OK to do something because of what is written when, in fact, you could get into serious trouble if you are not careful. For example, the heading "Tracking Insider Trades" it says, "As of December 2005 companies are required to announce times to their employees as to when they can safely trade without being accused of trading on inside information." This is a gross simplification and in no way can a company announce a time that an insider is free to trade on material non-public information. All of that said, I don't know how to put up this kind of warning graphic. Epstein's Mother (talk) 02:18, 10 February 2008 (UTC)
 * agreed that we're not 100% accurate here and may have stepped over the line to providing legal advice (myself included). I looked around the WP:Law law project and law portal and couldn't find any template related to that.  Perhaps it's obvious that we're (trying) to provide legal information rather than legal advice.  A couple of templates that might fit in somewhere (feel free to remove) are right below this.  Smallbones (talk) 14:17, 10 February 2008 (UTC)

Shouldn't there be a section detailing significant insider trading cases in summary form?--Bassettcat (talk) 12:58, 8 May 2008 (UTC)

Removed item on legal insider trading
I removed the reference to legal trading on inside information that contained the example of overhearing the CEO of a company talk about the company in a restaurant. The text said that trading on that information would not be illegal. It certainly is illegal, and made illegal by SEC Rule 14e-3, which makes it illegal to trade while in possession on material non-public information that one knows is material and nonpublic, and came from an insider.69.141.112.37 (talk) 21:49, 31 May 2008 (UTC)Larry Lawyer

 * Larry,
 * You didn't make a change in the article! I did that following - inserting the word "might," instead of "would."
 * "you might not be guilty of insider trading unless there was some closer connection between you, the company, or the company officers."
 * could you be a bit more specific on this - the only "Rule 14e-3" I could find on the SEC site was under the Williams Act, and requires that a tender offer has been made. More info please.  Smallbones (talk) 23:29, 31 May 2008 (UTC)

Anything "is believed" by somebody!
Illegal insider trading is believed to raise the cost of capital for securities issuers, thus decreasing overall economic growth

Can't argue that this "is believed" by some people. But I would like to say the evidence is lame. Though there are a few studies that show a correlation between such a ban and economic growth, they have some methodological holes in them.

First, they don't distinguish between countries that bring actions regularly on the one hand and those that bring, say, one case every twenty years or so on the other. Both countries would be considered to have "enforcement of the ban on insider trading" for purposes of the alleged correlation.

Second, correlation isn't cause. Having SOME enforcement of insider trading laws is probably correlated with having a functional rule of law in general and THAT may be an important condition of wealth creation, creating a statistical artefact that has no real specific connection to insider trading at all.

Thirdly, as an empirical observation, in some countries that are thought to have an effective ban, insider trading is actually rampant. Germany is an example.

 * The cost of capital argument has solid research. Recent work by Howell Jackson and John Coffee both take the enforcement factor into account, and focus on insider trading bans.  It's not much of a leap to then say that those countries with a lower cost of capital receive economic benefits from it.  Epstein's Mother (talk) 03:45, 23 February 2009 (UTC)

INSIDER TRADING ACTIVITIES BY US LAWMAKERS
US Lawmakers are by law allowed to engage in insider trading and in fact have almost no regulation of any of their own trading practices, because although US lawmakers routinely as a part of business pass new laws to further regulate trading activities of everyone but themselves in US stock exchange, they have passed few, if any laws to regulate their own trading activities. A recent example, is STOCK Act, which failed to pass in 2010. Consequently,unlike everyone else engaging in trading on US stockmarket, US lawmakers are legally allowed by rules they set, to engage in unregulated trading of their own stocks on US Stock Market, as a normal part of doing business there.[(http://insidertrading.procon.org/view.answers.php?questionID=001032, http://finance.yahoo.com/tech-ticker/congress-refuses-to-outlaw-insider-trading-for-lawmakers-478701.html?tickers=%5Edji,%5Egspc,%5Eixic,brk-a,brk-b,gs,xlf0, http://www.citizen.org/pressroom/pressroomredirect.cfm?ID=2834)].Jme0598 (talk) 20:41, 21 August 2010 (UTC)

 * This first statement, and the statement in the article itself, cannot be presented as fact. "Arguably" insider trading by members of Congress is not illegal prior to the STOCK Act.  But there are other legal experts who disagree.  This part should be changed when updated to take account of the STOCK Act. Epstein's Mother (talk) 04:28, 13 February 2012 (UTC)

We need a section on why insider trading is partially banned and if those bans actually make sense
It's not enough to have this small last sentence in the introduction on the supposed reason why insider trading is illegal. --93.223.38.67 (talk) 10:45, 15 August 2011 (UTC)

Paul Ryan's Insider Trading
User:Cgersten has added this edit. Two of the references are from blogs (they violate WP:SPS) and the third from the Guardian states that "an independent accountant for the partnership that handled the trades questioned by commentators, said the shares were not controlled by Ryan." An earlier reference has the headline Paul Ryan's Bank Transactions Were Not Insider Trading. Adding this content to an article on insider trading does not appear appropriate. 72Dino (talk) 17:44, 4 September 2012 (UTC)

 * Guardian article states: ''After the story was picked up by the media on Monday, the Romney campaign moved to deny it. Talking Points Memo quoted Larry Gaffney, an independent accountant for the partnership that handled the trades questioned by commentators, said the shares were not controlled by Ryan.

 * "Trades are done automatically based on an algorithm on a regular basis," said Gaffney, in a statement to TPM that was provided by the Romney campaign. "In addition, this index was held at the time within a partnership in which Rep. Ryan had and continues to have no trading authority."

 * Note on Ryan's Financial Disclosure for 2008 (see: opensecrets.org) it states sales of individual bank stocks NOT an INDEX. A major contradiction to the Romney's statement of denial, as the "algorithm" was for an INDEX. --Tuco_bad 17:55, 4 September 2012 (UTC)
 * Also, see this article from The New York Times about how (per the Business Insider link above) "the meeting was held in the evening, which raises significant doubt if any member in attendance would have been able to act on the conversation."  The references just do not support including Ryan in an article on insider trading. 72Dino (talk) 18:03, 4 September 2012 (UTC)

 * Prior to the evening meeting, Ryan would have been given the reason for the meeting (i.e., certain banks in severe financial shape), also he could have made after-hours trades. The references DO make mention of Ryan trading of this info.  — Preceding unsigned comment added by Cgersten (talk • contribs) 19:11, 4 September 2012 (UTC)
 * The references do not support including Ryan in an article on insider trading. Doing so would be a violation of WP:BLP.  As you still feel otherwise, you may want to seek a third opinion. 72Dino (talk) 19:14, 4 September 2012 (UTC)

Why just public companies?
See

http://www.lexology.com/library/detail.aspx?g=e24dc4ab-2a77-43d9-8a78-9ea46eca1aca

According to a writeup by the law firm, the SEC does not believe that insider trading laws apply only to public companies. 178.38.69.55 (talk) 04:26, 2 April 2015 (UTC)

Conflict of interest template added: No reason given
The addition of this template -- "major contributor to this article appears to have a close connection with its subject" -- is backed up by nothing here on the talk page; nothing of which I can see evidence in a review of the page history; and was not noted by name in the Edit summary when it was placed, making it laborious for me or harder for others to find out when it was placed. While the addition of the template appears to be in good faith, the lack of backup makes its continued placement on the page problematic. I am considering deleting the template. Any comment here encouraged. Thanks. Swliv (talk) 08:12, 28 September 2015 (UTC)
 * It looks like a SNAFU. A navbox (namely conflict of interest) was added in this edit. Then someone using AWB converted it to COI. I will alert them to what is probably an unintended mistake. Johnuniq (talk) 10:01, 28 September 2015 (UTC)
 * . conflict of interest was, until recently, a redirect to COI. I've removed the redirect fix with this edit. It shouldn't happen again. Apoligizes to and thanks to  for the heads up. Avic ennasis  @ 11:26, 15 Tishrei 5776 / 11:26, 28 September 2015 (UTC)

Wow! No apology necessary. Glad I caught it and got such great response, only the vague sense and a bit of which I feel I understand (and I worry not an iota any more). All now perfect it appears. Swliv (talk) 19:24, 1 October 2015 (UTC) Another part of the process, for the record. Swliv (talk) 01:37, 4 October 2015 (UTC)

Failing to trade
On 29 February 2008, IP editor 193.26.4.35 removed the "not" from It is not illegal to fail to trade based on inside information with this edit. I have sought verification for the removal of the "not", but haven't found any, except those that derive from Wikipedia (such as, wikipedia acknowlegment on page 7) In fact, the original statement, without the "not", appears to be supported under US law. See Condus v. Howard Savings Bank, 781 F. Supp. 1052 (D.N.J. 1992) As noted by the original author, the evidentiary problems alone would suggest that such conduct would not be criminalised. This is also noted in when he writes, ''In addition, insiders have always had the right to abstain from trading on the basis of inside information. Thus, it is not illegal to not buy shares on the basis of inside information. How would investigators determine whether one declined to trade solely on the basis of inside information? Teall is an American, and possibly because of the sentence in Wikipedia under the UK, adds in a footnote, However, failure to trade can be a violation of U.K. insider trading regulations.'' I have not found anything explicit for this interpretation of the U.K. regs,. However, like the US, the regs (section Publication of information and corrective statements by issuers) do provide that issuers must make certain information public in a timely manner, thus depriving it of its status as "inside information". But the violation would be "failure to publish" rather than "failure to trade". Similarly where there has been an unlawful disclosure of inside information, and the tipster has conspired with the tipee to withhold sales, knowingly in the contravention of market integrity, it is possible that penalties could be asssessed under section 123 (Power to impose penalties or issue censure), given proof of the conspiracy. However, given such proof, "conspiracy" is the more likely charge. The UK regs indicate that they include Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse, which define "market abuse" as insider dealing, unlawful disclosure of inside information and market manipulation. The EU regs do not contain any direct prohibition on refraining from trading, but like the UK ones, they cover "collaboration to commit market abuse". Like the US, the UK and EU regulations all focus on actual trades. On this basis, I have removed the sentence in the UK paragraph under "Legal differences among jurisdictions". --Bejnar (talk) 00:06, 15 February 2017 (UTC)

Add "Arguments for keeping illegal" section?
Seems somewhat biased that there is no section for arguments for keeping the practice illegal. Should we add one?

Jasper0333 (talk) 22:34, 5 January 2021 (UTC)

Dutch east india company was the first time for insider trading.
Can someone include that the very first company to sell stock was also the the first company to have insider trading? The "dutch" people who originally owned the stock knew that the VOC was going to go end and those "dutch" people sold their stock to real dumb dutch people before the VOC company ended. It is very significant that the first company to sell stock and make it so people could trade their stock was also the first company to have insider trading.

Yuji Naka
He was recently arrested for insider trading. — Preceding unsigned comment added by KieranCallahan72 (talk • contribs) 04:21, 29 December 2022 (UTC)

title: Talk:Insider trading


text:
No Secrets (group)

No Secrets was an American girl group formed in 2000. The group consisted of five members: Angel Faith, Carly Lewis, Erin Tanner, Jessica Fried, and Jade Ryusaki. The group debuted in the United States in 2001 with the single "Kids in America".

2000–2002: Formation, debut album and tour
No Secrets was formed by Carly's father, Adrian Gurvitz, a music producer from London. She wrote a letter to him asking to put a group together. Soon after, Jade was invited; Carly and Jade's mothers were friends. Erin, Jade's cousin, joined next. Later, the three girls found Angel in an advertisement for a singing group; she joined, bringing Jessica with her. Once the group line-up had been completed, No Secrets began recording songs for their debut album. The girls worked with a variety of producers and songwriters, including Adrian Gurvitz, Andy Goldmark, and Riprock 'n' Alex G. The process took a number of months. They took a break from recording and album prep to go touring and promoting their group. In July 2001, No Secrets joined Aaron Carter in Toronto for the shooting of his video "Oh Aaron" and provided backing vocals for the song. They were also featured in another track of off his album, "Stride (Jump on the Fizzy)." In 2002, after touring with Carter for four months, they filmed their first video, the home VHS and DVD release No Secrets - Get to Know Us, and resumed work on their album.

Later that year, the group released their self-titled debut album, with singles "That's What Girls Do" and "Kids in America." The latter was featured in the soundtrack for the 2001 film Jimmy Neutron: Boy Genius and its music video was included as a bonus for the film's VHS release. "That's What Girls Do" played in the end credits of The Powerpuff Girls Movie, and its music video was a bonus feature on the DVD. The song would later be used in The Hot Chick. They also recorded "Little Angel of Mine" for the soundtrack of Stuart Little 2.

2003–2004: Faith's departure and Friends Forever
In early 2003, No Secrets was featured on DisneyMania singing a cover of "Kiss the Girl" from The Little Mermaid.

Soon after singing the majority of leads in the band, Angel left the group to pursue a solo career, releasing the album Believe in Angels... Believe in Me in 2004, just as the finishing touches were being put on No Secrets' second album, Friends Forever. The album was released with Angel featured in the artwork because it was too close to the release date and too far in production to make any changes. The four remaining members recorded and shot a video for the song "Once Upon (Another) Dream" for Disney's 2003 re-release of Sleeping Beauty. At one point, many rumors floated about a new member joining the girl group, but no official statements were ever made. Until blog posts and other articles were created a few years later stating, Lady Gaga was confirmed to promptly replace Angel in late 2003 but after her manager backed out of the project too early, Gaga (then known as Stefani) didn't make it into the group.

2005: Break-up
Disagreements between the remaining four members of the group led to the eventual break-up of No Secrets in March 2005.

Jessica Fried took on a solo career, signing with Reprise Records under the name Jessi Malay. Erin Tanner adopted the stage name Nicki Foxx and began working on solo material.

In a 2007 interview, Fried commented on the break-up, stating that the girls got along great but greedy parental actions ended up breaking the group apart.

In 2007, Angel Faith retired from the entertainment industry and began pursuing an education. In June 2009, she graduated magna cum laude from UCLA and went on to complete a doctorate degree in clinical psychology at Pepperdine University. Jade Ryusaki now resides in Hawaii as a model.

Studio albums

 * No Secrets (2002)
 * Friends Forever (Unreleased; intended for 2004)

Singles

 * "That's What Girls Do" (2002)
 * "Kids in America" (2002)
 * "Kiss the Girl" on Disneymania (2002)
 * "Whole Again" (2003)
 * "Once Upon (Another) Dream" (2003)

Video

 * Get to Know Us (released in the United States VHS/DVD format on March 19, 2002)

title: No Secrets (group)


text:
Max Beerbohm

Sir Henry Maximilian Beerbohm (24 August 1872 – 20 May 1956) was an English essayist, parodist and caricaturist under the signature Max. He first became known in the 1890s as a dandy and a humorist. He was the drama critic for the Saturday Review from 1898 until 1910, when he relocated to Rapallo, Italy. In his later years he was popular for his occasional radio broadcasts. Among his best-known works is his only novel, Zuleika Dobson, published in 1911. His caricatures, drawn usually in pen or pencil with muted watercolour tinting, are in many public collections.

Early life

Born in 57 Palace Gardens Terrace, London which is now marked with a blue plaque, Henry Maximilian Beerbohm was the youngest of nine children of a Lithuanian-born grain merchant, Julius Ewald Edward Beerbohm (1811–1892). His mother was Eliza Draper Beerbohm (c. 1833–1918), the sister of Julius's late first wife. Although the Beerbohms were supposed by some to be of Jewish descent, on looking into the question in his later years Beerbohm told a biographer: "I should be delighted to know that we Beerbohms have that very admirable and engaging thing, Jewish blood. But there seems to be no reason for supposing that we have. Our family records go back as far as 1668, and there is nothing in them compatible with Judaism." Beerbohm was close to four half-siblings, one of whom, Herbert Beerbohm Tree, was already a renowned stage actor when Max was a child. Other older half-siblings were the author and explorer Julius Beerbohm and the author Constance Beerbohm. His nieces were Viola, Felicity and Iris Tree.

From 1881 to 1885, Max – he was always called simply "Max" and it is thus that he signed his drawings – attended the day school of a Mr Wilkinson in Orme Square. Wilkinson, Beerbohm later said, "gave me my love of Latin and thereby enabled me to write English". Mrs Wilkinson taught drawing to the students, the only lessons Beerbohm ever had in the subject.

Beerbohm was educated at Charterhouse School and Merton College, Oxford, from 1890, where he was Secretary of the Myrmidon Club. It was at school that he began writing. While at Oxford Beerbohm became acquainted with Oscar Wilde and his circle through his half-brother, Herbert Beerbohm Tree. In 1893, he met William Rothenstein, who introduced him to Aubrey Beardsley and other members of the literary and artistic circle connected with The Bodley Head.

Although he was an unenthusiastic student academically, Beerbohm became a well-known figure in Oxford social circles. He also began submitting articles and caricatures to London publications, which were met enthusiastically. "I was a modest, good-humoured boy", he recalled. "It was Oxford that has made me insufferable." In March 1893, he submitted an article on Oscar Wilde to the Anglo-American Times under the pen name "An American". Later in 1893 his essay "The Incomparable Beauty of Modern Dress" was published in the Oxford journal The Spirit Lamp by its editor, Lord Alfred Douglas.

By 1894, having developed his personality as a dandy and humourist, and already a rising star in English letters, he left Oxford without a degree. His A Defence of Cosmetics (The Pervasion of Rouge) appeared in the first edition of The Yellow Book in 1894, his friend Aubrey Beardsley being art editor at the time. At this time Wilde said of him, "The gods have bestowed on Max the gift of perpetual old age."

In 1895, Beerbohm went to the United States for several months as secretary to his half-brother Herbert Beerbohm Tree's theatrical company. He was fired when he spent far too many hours polishing the business correspondence. There he became engaged to Grace Conover, an American actress in the company, a relationship that lasted several years.

Writer and broadcaster
On his return to England Beerbohm published his first book, The Works of Max Beerbohm (1896), a collection of his essays which had first appeared in The Yellow Book. His first piece of fiction, The Happy Hypocrite, was published in volume XI of The Yellow Book in October 1896. Having been interviewed by George Bernard Shaw himself, in 1898 he followed Shaw as drama critic for the Saturday Review, on whose staff he remained until 1910. At that time the Saturday Review was undergoing renewed popularity under its new owner, the writer Frank Harris, who would later become a close friend of Beerbohm's.

It was Shaw, in his final Saturday Review piece, who bestowed upon Beerbohm the lasting epithet, "the Incomparable Max" when he wrote, "The younger generation is knocking at the door; and as I open it there steps spritely in the incomparable Max".

In 1904 Beerbohm met the American actress Florence Kahn. In 1910 they married and moved to Rapallo in Italy, partly as an escape from the social demands and the expense of living in London. Here they remained for the rest of their lives except for the duration of World War I and World War II, when they returned to Britain, and occasional trips to England to take part in exhibitions of his drawings.

Beerbohm and his wife Florence spent the period of the First World War (1914 to 1918) in a cottage belonging to William Rothenstein, next to Rothenstein's own residence Iles Farm, in Far Oakridge, Gloucestershire. The Arts and Crafts architect Norman Jewson remarked on his dapper appearance there: "At first it amazed me to see him, in the depths of the country, in war time, always perfectly groomed and immaculately dressed as if for a garden party at Buckingham Palace, but as I got to know him better I realised that he just could not do anything else."

In his years in Rapallo Beerbohm was visited by many of the eminent men and women of his day, including Ezra Pound, who lived nearby, Somerset Maugham, John Gielgud, Laurence Olivier and Truman Capote among others. Beerbohm never learned to speak Italian in the five decades that he lived in Italy.

From 1935 onwards, he was an occasional though popular radio broadcaster, talking on cars and carriages and music halls for the BBC. His radio talks were published in 1946 as Mainly on the Air. His wit is shown often enough in his caricatures but his letters contain a carefully blended humour—a gentle admonishing of the excesses of the day—whilst remaining firmly tongue in cheek. His lifelong friend Reginald Turner, who was also an aesthete and a somewhat witty companion, saved many of Beerbohm's letters.

Beerbohm's best-known works include A Christmas Garland (1912), a parody of literary styles, Seven Men (1919), which includes "Enoch Soames", the tale of a poet who makes a deal with the Devil to find out how posterity will remember him, and Zuleika Dobson (1911), a satire of undergraduate life at Oxford. This was his only novel, but was nonetheless very successful.

Caricaturist
In the 1890s, while a student at Oxford University, Beerbohm showed great skill at observant figure sketching. His usual style of single-figure caricatures on formalised groupings, drawn in pen or pencil with delicately applied watercolour tinting, was established by 1896 and flourished until about 1930. In contrast to the heavier artistic style of the Punch tradition, he showed a lightness of touch and simplicity of line. Beerbohm's career as a professional caricaturist began when he was twenty: in 1892 The Strand Magazine published thirty-six of his drawings of 'Club Types'. Their publication dealt, Beerbohm said, "a great, an almost mortal blow to my modesty". The first public exhibition of his caricatures was as part of a group show at the Fine Art Society in 1896; his first one-man show at the Carfax Gallery in 1901. Explaining his system for caricature, Beerbohm wrote: "The whole man must be melted down in a crucible and then, from the solution, fashioned anew. Nothing will be lost but no particle will be as it was before." He concluded: "The most perfect caricature is that which, on a small surface, with the simplest means, most accurately exaggerates, to the highest point, the peculiarities of a human being, at his most characteristic moment, in the most beautiful manner."

Beerbohm was influenced by French cartoonists such as "Sem" (Georges Goursat) and "Caran d'Ache" (Emmanuel Poir). He was hailed by The Times in 1913 as "the greatest of English comic artists", by Bernard Berenson as "the English Goya", and by Edmund Wilson as "the greatest ... portrayer of personalities – in the history of art".

Usually inept with hands and feet, Beerbohm excelled in heads and with dandified male costume of a period whose elegance became a source of nostalgic inspiration. His collections of caricatures included Caricatures of Twenty-five Gentlemen (1896), The Poets' Corner (1904), Fifty Caricatures (1913) and Rossetti and His Circle (1922). His caricatures were published widely in the fashionable magazines of the time, and his works were exhibited regularly in London at the Carfax Gallery (1901–08) and Leicester Galleries (1911–57). At his Rapallo home he drew and wrote infrequently and decorated books in his library. These were sold at auction by Sotheby's of London on 12 and 13 December 1960 following the death of his second wife and literary executor Elisabeth Jungmann.

His Rapallo caricatures were mostly of late Victorian and Edwardian political, literary and theatrical personalities. The court of Edward VII had a special place as a subject for affectionate ridicule. Many of Beerbohm's later caricatures were of himself.

Major collections of Beerbohm's caricatures are in the Ashmolean Museum, Oxford; the Tate collection; the Victoria and Albert Museum; Charterhouse School; the Clark Library, University of California; and the Lilly Library, Indiana University; depositories of both caricatures and archival material include Merton College, Oxford; the Harry Ransom Center, University of Texas at Austin; the Robert H. Taylor collection, Princeton University Library; the Houghton Library, Harvard University; and the privately owned Mark Samuels Lasner collection.

Personal life
Beerbohm married the actress Florence Kahn in 1910. There has been speculation that he was a non-active homosexual (Malcolm Muggeridge, who much disliked him, imputed homosexuality to him), that his marriage was never consummated, that he was a "natural celibate" or even just asexual.

David Cecil wrote that, "though he showed no moral disapproval of homosexuality, [Beerbohm] was not disposed to it himself; on the contrary he looked upon it as a great misfortune to be avoided if possible." Cecil quotes a letter from Beerbohm to Oscar Wilde's friend Robert Ross in which he asks Ross to keep Reggie Turner from the clutches of Lord Alfred Douglas, "I really think Reg is at a rather crucial point of his career – and should hate to see him fall an entire victim to the love that dare not tell its name." The fact is that not much is known of Beerbohm's private life.

Evelyn Waugh also speculated that Beerbohm had made a mariage blanc but added: "Beerbohm remarked of Ruskin that it was surprising he should marry, without knowing he was impotent." Waugh also observed, "the question is of little importance in an artist of Beerbohm's quality."

There was also some speculation during his lifetime that Beerbohm was Jewish. Muggeridge assumed that Beerbohm's Jewishness was certain. Beerbohm responded by saying that, disappointingly for him, he was not. However, both of his wives were Jews of German origin, although Florence was born and reared in Memphis, Tennessee, in an immigrant family. She is described as an American.

When asked by George Bernard Shaw if he had any Jewish ancestors, Beerbohm replied: "That my talent is rather like Jewish talent I admit readily... But, being in fact a Gentile, I am, in a small way, rather remarkable, and wish to remain so." In his poem Hugh Selwyn Mauberley Ezra Pound, a neighbour in Rapallo – and later a supporter of fascism and anti-Semitism – caricatured Beerbohm as "Brennbaum", a Jewish artist.

The Maximilian Society
Beerbohm was knighted by George VI in 1939; it was thought that this mark of esteem had been delayed by his mockery in 1911 of the king's parents, about whom he had written a satiric verse, "Ballade Tragique a Double Refrain". In August 1942, on the occasion of Beerbohm's seventieth birthday, the Maximilian Society was created by a London drama critic in his honour. It had seventy distinguished members, including J. B. Priestley, Walter de la Mare, Augustus John, William Rothenstein, Edward Lutyens, Osbert Lancaster, Siegfried Sassoon, Osbert Sitwell, Leonard Woolf, John Betjeman, Kenneth Clark, E. M. Forster, Graham Greene, and Laurence Housman, and planned to add one more member on each of Beerbohm's successive birthdays. In their first meeting a banquet was held in his honour, and he was presented with seventy bottles of wine.

Death
He died at the Villa Chiara, a private hospital in Rapallo, Italy, aged 83, shortly after marrying his former secretary and companion, Elisabeth Jungmann. Beerbohm was cremated in Genoa and his ashes were interred in the crypt of St. Paul's Cathedral, London, on 29 June 1956.

A relation is the American comic book historian Robert Beerbohm (1952–2024).

Written works

 * The Works of Max Beerbohm, with a Bibliography by John Lane (1896)
 * A Defence of Cosmetics (1896)
 * The Happy Hypocrite (1897)
 * More (1899)
 * Yet Again (1909)
 * Zuleika Dobson; or, An Oxford Love Story (1911)
 * A Christmas Garland, Woven by Max Beerbohm (1912)
 * Seven Men (1919; enlarged edition as Seven Men and Two Others, 1950)
 * Herbert Beerbohm Tree: Some Memories of Him and of His Art (1920, ed. Max Beerbohm)
 * And Even Now (1920)
 * A Peep into the Past (1923)
 * Catalogue of an Exhibition of Caricatures by ″Quiz″ [Powys Evans] With an Introductory Note by Mr. Max Beerbohm (1923)
 * Around Theatres (1924)
 * A Variety of Things (1928)
 * The Dreadful Dragon of Hay Hill (1928)
 *  Lytton Strachey (1943) Rede Lecture
 * Mainly on the Air (1946; enlarged edition 1957)
 * The Incomparable Max: A Collection of Writings of Sir Max Beerbohm (1962)
 * Max in Verse: Rhymes and Parodies (1963, ed. J. G. Riewald)
 * Letters to Reggie Turner (1964, ed. Rupert Hart-Davis)
 * More Theatres, 1898–1903 (1969, ed. Rupert Hart-Davis)
 * Selected Prose (1970, ed. by Lord David Cecil)
 * Max and Will: Max Beerbohm and William Rothenstein: Their Friendship and Letters (1975, eds Mary M. Lago and Karl Beckson)
 * Letters of Max Beerbohm: 1892–1956 (1988, ed. Rupert Hart-Davis)
 * Last Theatres, 1904-1910 (1970, ed. Rupert Hart-Davis)
 * A Peep into the Past and Other Prose Pieces (1972)
 * Max Beerbohm and "The Mirror of the Past" (1982, ed. Lawrence Danson)
 * Collected Verse (1994, ed. J. G. Riewald)

Collections of caricatures

 * Caricatures of Twenty-five Gentlemen (1896)
 * The Poets' Corner (1904)
 * A Book of Caricatures (1907)
 * Cartoons: The Second Childhood of John Bull (1911)
 * Fifty Caricatures (1913)
 * A Survey (1921)
 * Rossetti and His Circle (1922)
 * Things New and Old (1923)
 * Observations (1925)
 * Heroes and Heroines of Bitter Sweet (1931) five drawings in a portfolio
 * Max's Nineties: Drawings 1892–1899 (1958, ed. Rupert Hart-Davis and Allan Wade)
 * Beerbohm's Literary Caricatures: From Homer to Huxley (1977, ed. J. G. Riewald)
 * Max Beerbohm Caricatures (1997, ed. N. John Hall)
 * Enoch Soames: A Critical Heritage (1997)

title: Max Beerbohm