0RGHO I©U VS”WDQWLNH )ODVFKH PLW 5HOLHI 1RUGDIULND -K Q &KU [ FP *LSVPRGHO I©U HLQH KRKH ]\OLQGULVFKH )ODVFKH PLW ODQJHP +DOV )ODVFKHQN¤USHU LQ ]ZHL YHUWLNDOH )HOGHU JHWHLOW LP OLQNHQ YLHU )UDXHQE©VWHQ PLW +DOVNUDJHQ LP UHFKWHQ ]ZLVFKHQ ]ZHL )UDXHQE©VWHQ HLQ ODXIHQGHU +XQG PLW HLQHP +DVHQ GDUXQWHU HLQ P”QQOLFKHU .RSI RKQH +DOV NUDJHQ $XI GHU 6FKXOWHU 6WULFK GHNRU .OHLQH $EVSOLWWHUXQJHQ VRQVW LQWDNW u
3URYHQLHQ] $XV GHU ZHVWGHXWVFKHQ 3ULYDWVDPPOXQJ : 5 JHNDXIW DXV GHU QLHGHUUKHLQLVFKHQ 3ULYDWVDPPOXQJ 0 3 YRQ GHVVHQ 9DWHU LQ GHQ HU HU -DKUHQ HUZRUEHQ 3DUW RI D J\SVXP PRGHO RI D /DWH 5RPDQ WHUUDFRWWD ERWWOH ZLWK UHOLHI 1RUWK $IULFD WK WK FHQWXU\ $ ' 6PDOO VSOLQWHUV PLVVLQJ RWKHUZLVH LQWDFW
5¤PLVFKH 3LOJHU~DVFKH -K Q &KU + FP % 7 FP 5RWEUDXQHU 7RQ %HLGVHL WLJ DXV GHU JOHLFKHQ 0DWUL]H JH IRUPW HLQ JURgHV 0HGDLOORQ $P 5DQG XPODXIHQG HLQ /RUEHHU EDQG ,Q GHU 0LWWH 'LRQ\VRV PLW 7K\UVRV XQG $ULDGQH PLW .LWKD UD YRU HLQHU JURgHQ :HLQUDQNH $P REHUHQ 5DQG VWHKW D ,21< &2& XQG $D+ :HQLJH ZLQ]L JH %HVWRgXQJHQ VRQVW LQWDNW u 3URYHQLHQ] ([ 6DPPOXQJ + ' ' 1RUGUKHLQ :HVWIDOHQ HUZRUEHQ ]ZLVFKHQ ELV 9JO ]XP %HLVSLHO GLH 'DUVWHOOXQJ DXI GHP VSÂ&#x201D;WKHOOHQLVWLVFKHQ 0DUPRUNUDWHU %RUJKHVH LP /RXYUH ,QY 0$
68
5RPDQ SLOJULP ~DVN PDGH RI UHG EURZQ FOD\ UG WK FHQWXU\ $ ' 2Q ERWK VL GHV IURP WKH VDPH PRXOG D ODUJH WRQGR ,QVLGH 'LRQ\VRV ZLWK WK\UVRV DQG $ULDGQH ZLWK NLWKDUD LQ IURQW RI D ODUJH JUDSHYLQH VWRFN 1H[W WR WKHLU KHDGV WKH LQVFULSWLRQV D,21<&2& DQG ADH )HZ WLQ\ VSOLQ WHUV RI WKH VXUIDFH DUH ~DNHG RII RWKHUZLVH LQWDFW