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Killexams : APA Institute questions - BingNews Search results Killexams : APA Institute questions - BingNews Killexams : What 11 Analyst Ratings Have To Say About APA

Analysts have provided the following ratings for APA APA within the last quarter:

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 6 4 1 0 0
Last 30D 1 0 0 0 0
1M Ago 1 0 0 0 0
2M Ago 2 2 0 0 0
3M Ago 2 2 1 0 0

According to 11 analyst offering 12-month price targets in the last 3 months, APA has an average price target of $56.91 with a high of $75.00 and a low of $47.00.

Below is a summary of how these 11 analysts rated APA over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock

This current average has decreased by 3.54% from the previous average price target of $59.00.

Analysts are certified within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

© 2022 Benzinga does not provide investment advice. All rights reserved.

Wed, 05 Oct 2022 01:53:00 -0500 text/html
Killexams : Psychiatry wars: the lawsuit that put psychoanalysis on trial

Before entering Chestnut Lodge, one of the most elite psychiatric hospitals in the US, Ray Osheroff was the kind of charismatic, overworked physician we have come to associate with the American dream. He had opened three dialysis centres in northern Virginia and felt within reach of something “very new for me, something that I never had before, and that was the clear and distinct prospects of success,” he wrote in an unpublished memoir. He loved the telephone, which signified new referrals, more business – a sense that he was vital and in demand. “Life was a skyrocket,” he wrote.

But when he was 41, after divorcing and marrying again quickly, he seemed to lose his momentum. When his ex-wife moved to Europe with their two sons, he felt as if he had ruined his chance for a deep relationship with his children. His thinking became circular. In order to have a conversation, his secretary said, “we would walk all the way around the block, over and over”. He couldn’t sit still long enough to eat. He was so repetitive that he started to bore people.

His new wife gave birth to a baby boy less than two years after their wedding, but Ray had become so detached that he behaved as if the child wasn’t his. He seemed to care only about the past. He felt increasingly overwhelmed by the stress caused by professional rivals, and he sold a portion of his business to a larger dialysis corporation. Then he became convinced he had made the wrong choice. After finalising the sale, he wrote: “I went outside and sat in my car and I realised that I had become a piece of wood.” The air felt heavy, like some sort of noxious gas.

Ray felt that he had carefully built a good life – the kind he had never imagined he could achieve but, on another level, felt secretly entitled to – and with a series of impulsive decisions, had thrown it away. “All I seemed to be able to do was to talk, talk, talk about my losses,” he wrote. He found that food tasted rotten, as if it had been soaked in seawater. Sex was no longer pleasurable either. He could only “participate mechanically”, he wrote.

When Ray began to threaten suicide, his new wife told him that if he didn’t check into a hospital, she would file for divorce. Ray reluctantly agreed. He decided on Chestnut Lodge, which he had read about in Joanne Greenberg’s bestselling 1964 autobiographical novel, I Never Promised You a Rose Garden, which describes her recovery at the Lodge and serves as a kind of ode to the power of psychoanalytic insight. “These symptoms are built of many needs and serve many purposes,” she wrote, “and that is why getting them away makes so much suffering.”

During Ray’s first few weeks at the Lodge, in 1979, his psychiatrist, Manuel Ross, tried to reassure him that his life was not over, but Ray would only “pull back and become more distant, become more repetitive,” Ross said. Ross concluded that Ray’s obsessive regret was a way of staying close to a loss he was unable to name: the idea of a parallel life in which “he could have been a great man”.

Hoping to Excellerate Ray’s insight, Ross interrupted Ray when he became self-pitying. “Cut the shit!” he told him. When Ray described his life as a tragedy, Ross said, “None of this is tragic. You are not heroic enough to be tragic.”

At a staff conference a few months after he arrived, a psychologist said that after spending time with Ray, she had a pounding headache. “He is like 10 patients in one,” a social worker agreed.

“He treats women as if they are the containers for his anxiety and are there to indulge him and pat his hand whenever he’s in pain,” Ross said. “And he does that with me, too, you know? ‘You don’t know what pain I’m in. How can you do this to me?’”

Ross said that he had already warned Ray: “With your history of destructiveness, sooner or later you are going to try to destroy the treatment with me.” Nevertheless, Ross was confident that if Ray “does stay in treatment for five or 10 years, he may get a good result out of it”.

“Five to 10 years is about right,” another psychiatrist said.

At the Lodge, the goal of all conversations and activities was understanding. “No single word used at the hospital is more charged with emotional meaning, or more slippery in its cognitive implications,” Alfred Stanton, a psychiatrist, and Morris Schwartz, a sociologist, wrote in The Mental Hospital, a 1954 study of the Lodge. The hope of “getting better” – by gaining insight into interpersonal dynamics – became its own kind of spirituality. “What occurred at the hospital,” the authors wrote, “was a type of collective evaluation in which neurosis or illness was Evil and the ultimate Good was mental health.”

Dexter Bullard, the director of Chestnut Lodge for nearly 40 years, believed that the Lodge could do what no other American hospital had done: psychoanalyse every patient, no matter how far removed from reality they were (as long as they could pay the admission fee). The possibilities of pharmacology did not interest him. His goal was to create an institution that expressed the ethos of the analyst’s office. If a patient appeared beyond the realm of understanding, the institution had failed – its doctors weren’t trying hard enough to see the world through the patient’s eyes. “We don’t know enough yet to be able to say why patients stay sick,” Bullard told a colleague in 1954. “Until we know that, we have no right to call them chronic.”

The “queen of Chestnut Lodge”, as people called her, was Frieda Fromm-Reichmann, a founder of the Frankfurt Psychoanalytic Institute who lived on the grounds of the Lodge in a cottage that had been built for her. She described loneliness as the core of mental illness. It was such a deep threat, she wrote, that psychiatrists avoided talking about the phenomenon, because they feared they would be contaminated by it, too. The experience was nearly impossible to communicate; it was a kind of “naked existence”.

Fromm-Reichmann and other analysts at the Lodge were described as “substitute mothers”. Younger therapists vied for their attention, working through what they called sibling rivalries. The doctors, all of whom had undergone analysis themselves, felt that they had been incorporated into one household – as one psychiatrist put it, they were “part of a dysfunctional family”. As patients walked down the hallway to their appointments, others shouted, “Have a good hour!” Alan Stone, a former president of the American Psychiatric Association (APA), described the Lodge as “the most enlightened hospital in North America.” He told me, “It seemed like Valhalla, the residence of the gods.”

At the time, faith in the potential of psychology and psychiatry seemed boundless. The psychological sciences provided a new framework for understanding society. “The world was sick, and the ills from which it was suffering were mainly due to the perversion of man – his inability to live at peace with himself,” declared the first director of the World Health Organisation, a psychiatrist, in 1948. The psychologist Abraham Maslow said: “The world will be saved by psychologists – in the very broadest sense – or else it will not be saved at all.”

At the Lodge, Ray began walking eight hours a day. Breathing heavily through pursed lips, he paced the corridors of the Lodge. He calculated that he walked about 18 miles a day, in slippers. A nurse wrote that he frequently bumped into people but “doesn’t even seem to realise he had physical contact”.

As he paced, Ray recalled the lavish vacations that he and his wife had enjoyed. They dined out so frequently that when they entered their favourite restaurants they were immediately recognised. The motion of his legs became a “mechanism of self-hypnosis in which I would concentrate on the life I once had”, Ray wrote. His feet became so blistered that orderlies at the Lodge took him to a podiatrist. His toes were black with dead skin.

Chestnut Lodge hospital in Rockville, Maryland. Photograph: Phillip Reed/Peerless Rockville Historic Preservation Ltd

After half a year, Ray’s mother visited him at the Lodge and was alarmed by his deterioration. His hair had grown to his shoulders. He was using the belt of his bathrobe to hold up his trousers, because he had lost 18kg (almost three stone). Ray had once been a prodigious reader, but he had completely stopped. He was also a musician, and, although he had packed sheets of music in the suitcase he brought to the Lodge, he almost never looked at the pages. When a nurse called him Dr Osheroff, he corrected her: “Mr Osheroff.”

Ray’s mother asked the Lodge to provide him antidepressants. But to the Lodge psychiatrists the premise of this form of treatment – to be cured without insight into what had gone wrong – seemed superficial and cheap. Drugs “might bring about some symptomatic relief”, Ross, Ray’s psychiatrist, acknowledged, “but it isn’t going to be anything solid in which he can say, ‘Hey, I’m a better man. I can tolerate feelings.’” Ross concluded that Ray was simply searching for a drug that would buy him the “return of his former status” – an achievement that, Ross believed, had always been illusory.

Disappointed by the Lodge, Ray’s mother decided to transfer him to Silver Hill, a hospital in New Canaan, Connecticut, that had embraced the use of antidepressants. Ray’s new psychiatrist at Silver Hill, Joan Narad, immediately prescribed him two medications: Thorazine, to calm his agitation and sleeplessness, and Elavil, discovered in 1960. Her impression of him, she said, was as a “vulnerable person who desperately wanted a relationship with his boys”.

On Ray’s first evening at Silver Hill, he gave a nurse his wedding ring. “I don’t need it anymore,” he said. The next morning, he called his mother and said: “This institution and a lot of pills can’t change things.” He felt like he was “floating in space in no definite direction”. On his seventh day, he told the nurses he wished to change his name and disappear somewhere. On his eighth day, he said: “I provide myself another year or two to live. I hope to die quickly of a coronary in my sleep.”

After three weeks there, Ray woke up in the morning, sat in an armchair, and drank a mug of steaming coffee. He read the newspaper. Then he called his psychiatric aide into his room. “Something is happening to me,” he told her. “Something has changed.”

He felt a “terrible sadness”, an emotion that he realised had previously been inaccessible. He hadn’t seen his sons in almost a year, and he started to cry – the first time he had done so in months. He thought he had already been grieving his separation from his sons, but now he realised that what he had been experiencing wasn’t anything as alive as grief: it was “beyond feeling”, he wrote. “It is a total absence of feeling.”

Within two weeks, Ray seemed to have regained his sense of humour. A nurse wrote that he had “a warm, sensitive aspect to his disposition – especially towards his children”. Narad, his psychiatrist, said: “A new human being began to emerge.”

Ray began spending time with another patient, a woman his age. With a day pass from the hospital, Ray took a bus to downtown New Canaan, bought a bottle of champagne, and knocked on the woman’s door. They spent the night together. “The act of making love,” he wrote, “was not so much sexual or biological, but it was an act of defiance, a reaching out, a groping, a grabbing back of our humanness.”

Ray began to spend hours studying in the hospital’s psychiatric library. He was shaken by a 1975 memoir, A Season in Hell, by Percy Knauth, a former New York Times correspondent who was suicidal until he took antidepressants. “Within a week the miracle began to happen,” Knauth wrote. “For the first time in more than a year I felt good!” He added, “There is little doubt that I had been suffering from a norepinephrine imbalance,” which was at the time a theory for the source of depression, one that has since been largely discarded.

The chemical-imbalance theory of depression was first described in 1965 by Joseph Schildkraut, a scientist at the National Institute of Mental Health, in what became the most frequently cited paper in The American Journal of Psychiatry. Reviewing studies of antidepressants and clinical trials in both animals and humans, Schildkraut proposed that the drugs increased the availability of the neurotransmitters dopamine, norepinephrine and serotonin – which play a role in the regulation of mood – at receptor sites in the brain. He reasoned backwards: if antidepressants worked on those neurotransmitters, then depression may be caused by their deficiency. He presented the theory as a hypothesis – “at best a reductionistic oversimplification of a very complex biological state”, he wrote.

Silver Hill Hospital in Connecticut. Photograph: Bryce Vickmark/Getty Images

Nevertheless, the theory gave rise to a new way of talking about the self: fluctuations in brain chemicals were at the root of people’s moods. The framework redefined what constituted self-knowledge. This was “a shift in human ontology – in the kinds of persons we take ourselves to be”, the British sociologist Nikolas Rose later wrote.

At Chestnut Lodge, Ray had been lacking in insight, but at Silver Hill, where a different model of illness prevailed, he was an eager student of his condition. He began working on a memoir. To research the book, he read medical literature on depression, a disease he now saw as “exquisitely curable”. He felt relieved by the idea that the past two years of his life could be explained with one word.

Ray was discharged from Silver Hill after three months of treatment. It had been nearly a year since he had lived outside the confines of an institution. He returned to an empty house. His wife had decided to divorce him, and she had already moved out with their son, taking most of the furniture. His other sons were still in Europe.

Ray showed up unannounced at his dialysis clinic. Patients embraced him and shook his hand; some of the nurses kissed him. But newer employees, hired while Ray had been away, kept their distance. Word had spread that he had been in a mental institution. In the break room, the head nurse described Ray as a “lunatic” and “incompetent”. A secretary observed that he asked rudimentary questions about how to work a dialysis machine. A colleague who had been running Ray’s business in his absence was upset that Ray had failed to complete his treatment at the Lodge. He assumed that Silver Hill had merely done a “patch-up job”. He quit and opened a competing practice in the same building. Many of Ray’s patients and employees migrated there, too.

News of Ray’s illness – and the rift with his colleague – spread throughout the medical community, and he stopped getting referrals. Sometimes, he didn’t have enough patients to fill a day of work. Separated from his sons and barely working, Ray felt as if he had lost the “trappings that identified me as a person existing in the world”.

In 1980, the year after he was released from Silver Hill, Ray read the entire Diagnostic and Statistical Manual of Mental Disorders. The third edition, DSM-III, had just been published. The first two editions had been slim pamphlets, not taken particularly seriously. But for the new version, a committee appointed by the APA tried to make the manual more objective and universal by cleansing it of psychoanalytic explanations, like the idea that depression is an “excessive reaction” to an “internal conflict”.

Now that medications had been shown to be effective, the experiences that gave rise to a condition seemed less relevant. Mental illnesses were redefined according to what could be seen from the outside – a checklist of behavioural symptoms. The medical director of the APA declared that the new DSM represented a triumph of “science over ideology”.

The clinical language of DSM-III relieved Ray’s sense of isolation – his despair had been a disease, which he shared with millions of people. He was so energised by the new way of thinking about depression that he scheduled interviews with leading biological psychiatrists as research for his memoir, which he titled A Symbolic Death: The Untold Story of One of the Most Shameful Scandals in American Psychiatric History (It Happened to Me).

Ray sent a draft of his memoir to the psychiatrist Gerald Klerman, who had recently stepped down as the head of the US federal government’s Alcohol, Drug Abuse and Mental Health Administration. Klerman had written disparagingly of what he called “pharmacological Calvinism” – the belief that “if a drug makes you feel good, it’s either somehow morally wrong, or you’re going to pay for it with dependence, liver damage, chromosomal change, or some other form of secular theological retribution”. Ray said that Klerman told him that his manuscript was “fascinating and compelling”.

Emboldened by Klerman’s approval, Ray decided to sue Chestnut Lodge for negligence and malpractice. He argued that, because the Lodge failed to treat his depression, he had lost his medical practice, his reputation in the medical community, and custody of his children. Ray’s friend Andy Seewald told me that Ray often compared himself to Ahab in Moby-Dick. “The Lodge was his white whale,” he said. “He was searching for the thing that had unmanned him.”

In the lawsuit, the 20th century’s two dominant explanations for mental distress collided. No psychiatric malpractice lawsuit has attracted more prominent expert witnesses than Ray’s, according to Alan Stone, the former president of the APA. The case became “the organising nidus” around which leading biological psychiatrists “pushed their agenda”, he told me.

At a hearing before an arbitration panel, which would determine whether the case could proceed to trial, the Lodge presented Ray’s attempt to medicalise his depression as an abdication of responsibility. In a written report, one of the Lodge’s expert witnesses, Thomas Gutheil, a professor of psychiatry at Harvard, observed that the language of the lawsuit, much of which Ray had drafted himself, exemplified Ray’s struggle with “‘externalisation’ – that is, the tendency to blame one’s problems on others”. Gutheil concluded that Ray’s “insistence on the biological nature of his problem is not only disproportionate but seems to me to be yet another attempt to move the problem away from himself: it is not I, it’s my biology.”

The Lodge’s experts attributed Ray’s recovery at Silver Hill at least in part to his romantic entanglement with a female patient, which gave him a jolt of self-esteem.

“It’s a demeaning comment,” Ray responded when he testified. “And it just speaks to the whole total disbelief in the legitimacy of the symptomatology and the disease.”

The Lodge lawyers tried to chip away at Ray’s description of depression, arguing that he had shown moments of pleasure at the Lodge, such as when he had played piano.

“The sheer mechanical banging of ragtime rhythms on that dilapidated old piano on the ward was almost an act of agitation rather than a creative pleasurable act,” Ray responded. “Just because I played ping-pong, or had a piece of pizza, or smiled, or may have made a joke, or made googly eyes at a good-looking girl, it did not mean that I was capable of truly sustaining pleasurable feelings.” He went on, “I would say to myself: ‘I am living, but I am not alive.’”

Manuel Ross, Ray’s analyst from the Lodge, testified for more than eight hours. He had read a draft of Ray’s memoir and he rejected the possibility that Ray had been cured by antidepressants. He was not a recovered man, because he was still holding on to the past. (“That’s what I call melancholia as used in the 1917 article,” he said, referring to Freud’s essay Mourning and Melancholia.)

Ross said that he had hoped Ray would develop insight at the Lodge. “That’s the true support,” he said, “if one understands what is going on in one’s life.” He wanted Ray to let go of his need to be a star doctor, the richest and most powerful in his field, and to accept a life in which he was one of the “ordinary mortals who labour in the medical vineyard”.

Ray’s lawyer, Philip Hirschkop, one of the most prominent civil rights attorneys in the country, asked Ross: “As an analyst, do you have to sometimes look inside yourself to make sure you’re not reacting to your own feelings about someone?”

“Oh yes,” Ross said. “Oh yes.”

“You who’ve locked yourself into one position for 19 years with no advancement in position other than salary, might you be a little resentful of this man who makes so much more money, and now he’s here as your patient?” Hirschkop asked.

“That’s possible, sure,” Ross said. “You have to take that into account – there’s no question about that. I think that’s your own kind of psychological work that you do on yourself. Am I being envious of this? Or am I describing the grandiosity just out of envy and spite? But I don’t think I was doing that.”

“Would you infer, fairly, that someone who locked themself into the same job for 19 years might lack some ambition?”

“No, Mr Hirschkop,” Ross said. “I like the work I’m doing. I find it continually stimulating.”

On 23 December 1983, the arbitration panel concluded that Chestnut Lodge had violated the standard of care. The case could proceed to trial. Joel Paris, a professor of psychiatry at McGill University, wrote that “the outcome of the Osheroff case was discussed in every academic department of psychiatry in North America”. The New York Times wrote that the case shook “the conventional belief, held even by some doctors, that chronic depression is not an illness, but merely a character flaw”. According to The Philadelphia Inquirer, the case could “determine to a great extent how psychiatry would be practiced in the United States”.

But shortly before the case was to go to trial, in 1987, Chestnut Lodge offered to settle. By then, Ray was dating a high-school classmate, who was the widow of a psychoanalyst. She didn’t like the way Ray’s case pitted one school of psychiatry against the other. “It’s much too simplistic,” she told me. “One school does not supplant the other.” Ray decided to settle the case and move on.

The country’s most prominent psychiatrists continued to treat the case as psychoanalysis’s final reckoning. The psychiatrist Peter Kramer, the author of the landmark book Listening to Prozac, later compared the case’s significance to Roe v Wade. As Psychiatric Times put it, the case represented a “showdown between two forms of knowledge”.

Ray’s doctor at Silver Hill, Joan Narad, told me that she was pained by the conclusions people drew from Ray’s story. “The case was used to increase polarity,” she said. The APA held a panel on Ray’s case at its annual conference in 1989, and Ray showed up with his oldest son, Sam, with whom he had reunited, to watch. Narad was there too, and she showed Sam pages of Ray’s medical records. “I told him, ‘I just want you to know that your father tried to reach you – he loved you and was desperate to see you,’” Narad said.

But Sam and his younger brother, Joe, did not forgive their father. They believed he had latched on to the wrong explanations for why his life had gone off course. “My father had this gregarious, kind, brilliant side to him, but he never addressed his problems,” Joe told me. “He kept telling the same repetitive story.”

After Ray’s case, the Lodge began prescribing medication for nearly all of its patients. “We had to conform,” Richard Waugaman, a Lodge psychiatrist, told me. “It wasn’t always about whether it was going to help the patient. It was about whether it would protect us from another lawsuit.”

The Lodge doctors felt chastened by a long-term study, published in 1984 in the Archives of General Psychiatry, that followed more than 400 patients who had been treated at the Lodge between 1950 and 1975. Only a third of schizophrenic patients had improved or recovered – roughly the same percentage of patients shown at that time to recover in any treatment setting. At a symposium attended by 500 doctors, the study’s co-author Thomas McGlashan, a psychiatrist at the Lodge, announced: “The data is in. The experiment failed.”

For years, most patients at the Lodge had their care covered through private insurance plans, but in the early 90s, managed care came to dominate the insurance industry. To contain costs, insurance companies required doctors to submit treatment plans for review and show evidence that patients were making measurable progress. Long, elegant narratives of patients’ struggles were replaced by checklists of symptoms. Mental healthcare had to be treated as a commodity, rather than as a collaboration.

The doctor–patient relationship, which the Lodge viewed as an enchanted bond, was remade by the language of corporate culture. Psychiatrists became “providers” and patients were “consumers” whose suffering was summarised with diagnoses from the DSM. “Madness has become an industrialised product to be managed efficiently and rationally in a timely manner,” wrote the anthropologist Alistair Donald in his 2001 essay The Wal-Marting of American Psychiatry. “The real patient has been replaced by behavioural descriptions and so has become unknown.”

As older analysts retired, the Lodge hired a new generation of doctors and social workers who were more enthusiastic about medications. But Karen Bartholomew, the former director of social work there, told me it was frustrating when staff members, dismissing the psychiatry of earlier eras, said: “We’re so much better now.” Increasingly, she said, patients showed up at the Lodge “on five or six different medications, and who knows what’s working at that point?”

In 1995, the Lodge was sold to a community-health nonprofit organisation that soon drove it into bankruptcy. By the late 90s, the buildings at the Lodge were falling apart. A psychiatrist at the Lodge recalled that one of her patients was on the third floor of the hospital when honey dripped on to her face. On the ceiling were beehives.

Chestnut Lodge on the day after it burned down in 2009. Photograph: The Washington Post/Getty Images

By the hospital’s final day, 27 April 2001, only eight patients remained. The Lodge, like many mental asylums in the country, was eventually abandoned. A local paper described the property as a gathering spot for “ghost hunters”, driven by “tales of the paranormal and other hauntings”. Then, in the summer of 2009, for reasons that were never determined, the Lodge’s main building burned to the ground.

After settling his lawsuit, Ray had moved to Scarsdale, New York, with his new wife, but, after a few years, he felt that the relationship had “no content”, and he got another divorce. In a draft of his memoir, Ray modified his definition of depression: “This is not an illness, it is not a sickness – it is a state of disconnection.” He had started seeing a psychoanalyst again. He referred to this analyst as the “good father” (whereas Ross, he wrote, had been the bad one). Ray believed that if the Lodge had treated him with medications he might have never needed therapy, but now, he wrote, he had “lost the framework on which to build anything”.

Following the collapse of his marriage, Ray moved to New Jersey, to live with another former high school classmate, even though he found her tiresome and bland. He worked at a nephrology clinic, but, after a year, his contract wasn’t renewed, and he “began to float around in entry-level positions”, as he described it in a letter. “Can you imagine what it would be like to be ashamed to have your children see you this way – that you would want to run away from them?”

When Ray visited his oldest two sons, he overwhelmed them with a repetitious account of how Chestnut Lodge had derailed his life. He also gave them new revisions of his memoir. “The book, the book,” Joe said. “That’s all he wanted to talk about.” When Sam’s first child was born, Ray showed up with a revised draft of his memoir and seemed more interested in discussing his writing than in meeting his granddaughter. Sam said that his father told him: “The memoir is going to blow people away. They’re going to make a movie of this.” He and Joe stopped returning their father’s calls. Ray’s youngest son was already estranged.

The memoir swelled to 500 pages. The early drafts had been textured and vibrant. But after three decades of revision, there was something oppressive and dishonest about the writing, a tale of revenge. Perhaps the only improvement was Ray’s portrait of his own father, who had been absent in early drafts. Now he revealed that his father may have abused him.

In each draft, Ray searched for an overarching theory that would explain why the life he had wanted had ended 40 years too early. One theory was that he was a man with a chemical imbalance. Another was that he was a boy deprived of a paternal model: “Underneath all of this,” he wrote, “is there not the theme of the son in search of the father? Not the loss of a business. The loss of the father.” A third was that he suffered from a kind of chronic loneliness – a condition that he characterised, quoting Fromm-Reichmann, as “such an intense and incommunicable experience that psychiatrists must describe it only in terms of people’s defences against it”.

“So what does this story add up to?” Ray asked. “How can I define myself? Who is Ray Osheroff now?” He had been taking psychiatric medications for three decades, but he still felt rootless and alone. “There is a painful gulf between what is and what should have been,” he wrote. He was an “unremedied man”. Two different stories about his illness, the psychoanalytic and the neurobiological, had failed him. Now, he was hopeful that he would be saved by a new story, the memoir he was writing. If he just framed the story right or found the right words, he wrote, he could “finally reach the shore of the land of healing”.

Adapted from Strangers to Ourselves: Stories of Unsettled Minds by Rachel Aviv, published by Harvill Secker on 20 October and available at

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Mon, 10 Oct 2022 16:00:00 -0500 Rachel Aviv en text/html
Killexams : APA Corporation: Best Oilpatch Near-Term Capital Gain Prospect
Business on Wall Street in Manhattan

Pgiam/iStock via Getty Images

This article's principal interest is in the stock prices of APA Corporation (NASDAQ:APA).

Investment Portfolio Discipline Summary

Active Investing strategy wealth-building depends on compounding gains from repeated shorter-term positions entered, closed out, and reinvested immediately. This is a keep capital continuously working, not an irregularly opportunistic hopeful trading scheme.

Reinvestment of liberated (usually expanded) capital is with choice of best informed-prospects for (1) profitable outcome, (2) worthwhile size gain, (3) happening soon, with (4) minimal interim price draw-down experiences. All of these factors targeted in advance, based on prior experience under similar reward~risk forecasts. Portfolio management discipline uses them as operating control, particularly as to the (3) time element.

“The performance measurement fund invests in equities whenever Market-Maker hedging activity forecasts that 80% or more of the near-coming price range is expected to be to the upside and 10% or less may be to the downside.

At the time of each purchase a GTC sell order at upside top forecast price for all of those just bought shares is placed with the broker where bought. His system will monitor and direct to you the sale confirmation when accomplished, probably with encouragement for reinvestment.

At the time of the buy, only on your own personal private calendar a note is made to review this holding at 3 months after the purchase, Then, if not yet sold, but is priced at a loss, sell, and put the proceeds into the reinvestment stream. If at a gain, after considering alternatives, decide to sell or move the calendar note a month further forward. Discipline matters, but should not take time from making effective reinvestment choices.

Description of Primary Investment Candidate

“APA Corporation, through its subsidiaries, explores for, develops, and produces oil and gas properties. It has operations in the United States, Egypt, and the United Kingdom, as well as has exploration activities offshore Suriname. The company also operates gathering, processing, and transmission assets in West Texas, as well as holds ownership in four Permian-to-Gulf Coast pipelines. APA Corporation was founded in 1954 and is based in Houston, Texas.”

Source: Yahoo Finance

street analysts estimates

Yahoo Finance

Here are several industry competitors to APA Corporation. Following the same analysis as with APA, historic sampling of today's Risk~Reward balances were taken for each of the alternative investments. They are mapped out in Figure 1.

Figure 1

MM hedging forecasts

(used with permission).

Expected rewards for these securities are the greatest gains from current closing market price seen worth protecting short positions. Their measure is on the horizontal green scale.

The risk dimension is of genuine price draw-downs at their most extreme point while being held in previous pursuit of upside rewards similar to the ones currently being seen. They are measured on the red vertical scale.

Both scales are of percent change from zero to 25%. Any stock or ETF whose present risk exposure exceeds its reward prospect will be above the dotted diagonal line. Capital-gain attractive to-buy issues are in the directions down and to the right.

Our principal interest is in APA at location [12], just above DVN at location [8] and left of PBR [6] at the right-hand edge of the green price growth Reward scale. A "market index" norm of reward~risk tradeoffs is offered by SPY at [10]. Most appealing (to own) by this Figure 1 view is DVN, but Figure 2 should clarify the better choice in APA.

Comparing features of Alternative Investment Stocks

The Figure 1 map provides a good visual comparison of the two most important aspects of every equity investment in the short term. There are other aspects of comparison which this map sometimes does not communicate well, particularly when general market perspectives like those of SPY are involved. Where questions of "how likely' are present other comparative tables, like Figure 2, may be useful.

Yellow highlighting of the table's cells emphasizes factors important to securities valuations and the security APA, most promising of near capital gain as ranked in column [R].

Figure 2

detail comparative data

(used with permission)

Why do all this math?

Figure 2's purpose is to attempt universally comparable answers, stock by stock, of a) How BIG the prospective price gain payoff may be, b) how LIKELY the payoff will be a profitable experience, c) how SOON it may happen, and d) what price draw-down RISK may be encountered during its holding period.

Readers familiar with our analysis methods after quick examination of Figure 2 may wish to skip to the next section viewing Price range forecast trends for APA.

Column headers for Figure 2 define investment-choice preference elements for each row stock whose symbol appears at the left in column [A]. The elements are derived or calculated separately for each stock, based on the specifics of its situation and current-day MM price-range forecasts. Data in red numerals are negative, usually undesirable to "long" holding positions. Table cells with yellow fills are of data for the stocks of principal interest and of all issues at the ranking column, [R]. Cells with pink fills have dimensions usually regarded as inappropriate for buys.

The price-range forecast limits of columns [B] and [C] get defined by MM hedging actions to protect firm capital required to be put at risk of price changes from volume trade orders placed by big-$ "institutional" clients.

[E] measures potential upside risks for MM short positions created to fill such orders, and reward potentials for the buy-side positions so created. Prior forecasts like the present provide a history of relevant price draw-down risks for buyers. The most severe ones actually encountered are in [F], during holding periods in effort to reach [E] gains. Those are where buyers are emotionally most likely to accept losses.

The Range Index [G] tells where today's price lies relative to the MM community's forecast of upper and lower limits of coming prices. Its numeric is the percentage proportion of the full low to high forecast seen below the current market price.

[H] tells what proportion of the [L] trial of prior like-balance forecasts have earned gains by either having price reach its [B] target or be above its [D] entry cost at the end of a 3-month max-patience holding period limit. [I] gives the net gains-losses of those [L] experiences.

What makes APA most attractive in the group at this point in time is its basic strength of reward to risk ratio of 1.9 to 1 in [T], the brief holding periods in [J], and the Win Odds of 10 out of every 11 in [H].

Further Reward~Risk tradeoffs involve using the [H] odds for gains and the 100 - H loss odds as weights for N-conditioned [E] and for [F], for a combined-return score [Q]. The typical position holding period [J] on [Q] provides a figure of merit [fom] ranking measure [R] useful in portfolio position preferencing. Figure 2 is row-ranked on [R] among alternative candidate securities, with APA in top rank.

Along with the candidate-specific stocks these selection considerations are provided for the averages of some 3000+ stocks for which MM price-range forecasts are available today, and 20 of the best-ranked (by fom) of those forecasts, as well as the forecast for S&P500 Index ETF (SPY) as an equity-market proxy.

Current-market index SPY is not competitive as an investment alternative with its Range Index of 36 indicates 2/3rds of its forecast range is to the upside, but lesss than 3/4ths of previous SPY forecasts at this range index produced profitable outcomes, with enough losers to put its average in single-digit positive [I] result.

As shown in column [T] of figure 2, those levels vary significantly between stocks. What matters is the net profit between investment gains and losses actually achieved following the forecasts, shown in column [I]. The Win Odds of [H] tells what proportion of the trial RIs of each stock were profitable. Odds below 80% often have proven to lack reliability.

Price range forecast trends for APA

Figure 3

daily forecast trends

(used with permission)

No, this is not a “technical analysis chart” showing only historical data. It is a Behavioral Analysis picture of the Market-Making community’s actions in hedging investments of the subject. Those actions define expected price change limits shown as vertical bars with a heavy dot at the closing price on the date of the forecast.

It is an genuine picture of experienced market professionals expected future prices, not a simple hope of a recurrence of the past. Expectations are backed up by significant bets of investment capital made to protect market-makers or to earn a proprietary profit from risk-taking.

The special value of such pictures is their ability to immediately communicate the balance of expectation attitudes between optimism and pessimism. We quantify that balance by calculating what proportion of the price-range uncertainty lies to the downside, between the current market price and the lower expected limit, labeled the Range Index [RI].

A RI at zero indicates no further price decline is likely, but not guaranteed. The odds of 3 months passing without either reaching or exceeding the upper forecast limit or being at that time below the expected lower price (today’s) are quite slight.

The probability function of price changes for APA are pictured by the (thumbnail) lower Figure 3 frequency distribution of the past 5 years of RI values with the today value indicated. Today’s RI of 45 with few higher forecasts helps explain the short holding periods as upside movements tend to reach earlier upper forecast limits.


The multi-path valuations explored by the analysis covered in Figure 2 is rich testimony to the near-future value prospect advantage of a current investment in APA Corporation over and above the other compared alternative investment candidates.

Sat, 17 Sep 2022 20:36:00 -0500 en text/html
Killexams : Nkosana Moyo steps down as Apa leader

Nkosana Moyo

ALLIANCE for People’s Agenda (Apa) president Nkosana Moyo has stepped down as party leader ahead of the 2023 elections.

Moyo, who is also former Industry and International Trade minister, told NewsDay that he wants to concentrate on his work with the Mandela Institute for Development Studies (Minds).

“The Apa secretary-general will take charge until a substantive leader is chosen. Apa wishes to announce that Nkosana Moyo is standing down as president and will, therefore, not be running in the presidential elections in 2023. Moyo has continued with his far-reaching and ground-breaking work with the Mandela Institute for Development Studies,” Apa said in a statement yesterday.

Minds recently participated at the Commonwealth Heads of Government Meeting in Rwanda.

Apa will be led by secretary-general Albert Gumbo until a new president is elected. Moyo remains a member of Apa.

Political analyst Effie Ncube said: “It is a good example of how leaders should behave, instead of tying themselves to politics forever; they should find alternatives of improving the lives of the people. It’s not only politics that changes the lives of the people.”

Another political analyst, Methuseli Moyo said: “It’s a good decision. Maybe he can contribute more to society under the foundation than he was as a politician. Our politics has no room for his approach.”

Moyo is remembered for his sudden resignation from his ministerial post in 2001, when he left to join his family in South Africa after he strongly disagreed with the late former President Robert Mugabe and Zanu PF policies.

The resignation resulted in Mugabe describing him as a “coward” and ”spineless”.

Follow us on Twitter @NewsDayZimbabwe

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Thu, 06 Oct 2022 12:37:00 -0500 en text/html
Killexams : APA Expands Physical Production Department With Three New Agents

EXCLUSIVE: APA is bolstering its Physical Production Department with the addition of three new agents – Marina Moyses, Alexa Lopez and Micaela Huber.

Moyses will anchor South American initiatives from San Paulo Brazil;  Lopez comes to APA from Panavision and Huber has been elevated from coordinator to head up a hair and make-up department.

“We are proud to be market leaders in diversity within the Physical Production community, and excited to expand upon that with the addition of three women including two Latina agents, all of whom will greatly enhance the scope of what we offer our clients at APA,” said Julian Savodivker, Head of Global Physical Production at APA, who himself is Latino.

Moyses, returns to APA following a two-year stint running her own management firm in Brazil where she shared many clients with APA and where she will based for the agency. With her experience in both domestic and international markets, Moyses gives APA an opportunity to extend its reach globally, pursuing emerging clients from the South American market, while managing and expanding her current roster, the agency says. Her clients include Gabriel Correa, producer and director for Riverdale; Carolina Groppa, head of production at Color Creative; Mariana Bardan and Eduardo Melo, writers and creators of the Brazilian original local Amazon and O2 Production Cangaço Novo; and acclaimed costume designers Mona May and Trayce Gigi Field.

“There is a great opportunity for APA to grow our business Internationally and Marina is empowered to identify and sign fresh talent and voices in all areas of the entertainment business in South America,” said Savodivker.

Lopez will run the commercial/music video division within the Physical Production department working closely with Savodivker, as well as being in charge of social media marketing for the department. She comes to APA from camera house Panavision, where she was a Marketing Executive helping to manage the company’s 65% share of the North American rental market. Lopez will continue to foster relationships with rising filmmaers and diverse collaborators at APA.

Huber has used her entrepreneurial skills to build a Hair and Make-Up Division within the Physical Production Department which she will head up. She already had developed a solid roster of clients she has both signed and has been booking. After graduating Law School, Huber began her career at APA. Working as an Executive Assistant in the Literary Department, she then moved on to development – working at Fabrik Entertainment (now Fabel Entertainment) and Alcon. She returned to APA in 2018 to work under Ralph Berge in the Physical Production Department and was promoted a year later to Coordinator.

“Alexa and Micaela will both head up growth areas for the department, where their entrepreneurial strengths which they have already demonstrated will be highlighted and supported,” said Savodivker.

Thu, 29 Sep 2022 04:01:00 -0500 en-US text/html
Killexams : Where APA Stands With Analysts

APA (NASDAQ:APA) has observed the following analyst ratings within the last quarter:

Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish
Total Ratings 5 4 2 0 0
Last 30D 1 0 0 0 0
1M Ago 1 2 0 0 0
2M Ago 1 1 1 0 0
3M Ago 2 1 1 0 0

In the last 3 months, 11 analysts have offered 12-month price targets for APA. The company has an average price target of $54.27 with a high of $75.00 and a low of $41.00.

Below is a summary of how these 11 analysts rated APA over the past 3 months. The greater the number of bullish ratings, the more positive analysts are on the stock and the greater the number of bearish ratings, the more negative analysts are on the stock

price target chart

This current average represents a 4.64% decrease from the previous average price target of $56.91.

Analysts are certified within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter.

Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Mon, 19 Sep 2022 02:26:00 -0500 en text/html
Killexams : Improved Earnings Required Before APA Corporation (NASDAQ:APA) Shares Find Their Feet No result found, try new keyword!With a price-to-earnings (or "P/E") ratio of 3.5x APA Corporation (NASDAQ:APA) may be sending very bullish signals at the moment, given that almost half of all companies in the United States have ... Sat, 24 Sep 2022 04:17:00 -0500 text/html Killexams : APA Updates Q3 2022 Guidance, Expects Greater U.S. Production No result found, try new keyword!APA Corporation APA recently announced supplemental information concerning third-quarter 2022 financial and operational results. The Houston, TX-based independent energy firm stated that it now ... Fri, 07 Oct 2022 02:21:00 -0500 text/html Killexams : Thuan Dang Joins APA As Agent; Lucy Tashman Upped To Director Content Development

EXCLUSIVE: Thuan Dang has joined APA as an agent in the scripted literary department and Lucy Tashman has been promoted to Director of Content Development at the agency.

Dang represents writers and directors in feature films, TV, streaming and animation. He becomes the 15th new agent/exec APA has brought in during the past two months. Tashman began her career as an intern at APA and was promoted to agent in the scripted literary department in 2020.  

Thuan comes to APA from The Gotham Group where he was a literary manager. Prior to that he was a development executive for Mark Wahlberg’s non-scripted production company, Unrealistic Ideas. He brings with him clients that include comedian-writer Siena East (Grimsburg, Clone High), Shruti Ganguly (Secret Daughter for Amazon Studios), Ellie Guzman, who is under a deal with DreamWorks Animation, Lauren Bello (The Sandman, Foundation), comedian Hadiyah Robinson (Bad Crimes, AP Bio), Marque Franklin-Williams (The Mighty Nein, Outlander, Leverage: Redemption) and filmmaker Alexandra Lazarowich (Fast Horse).

“We have admired Thuan’s work as a literary manager and his tireless advocacy for his clients and collaborative spirit made him an obvious fit for our growing department. We are excited to welcome him and his clients to APA,” said Kyle Loftus, Head of Content Development and Lit Department co-head Lindsay Howard Parker.

In addition to managing writers and filmmakers, Tashman will help spearhead APA’s content development efforts across all divisions. She will work under department head, Kyle Loftus, to bolster production slates in film and television for APA’s crossover clients including Mary J Blige, Regina Hall, Ms. Pat, Joseph Sikora, Nyle DiMarco, Narratively and XG Productions.

During her time at APA, Tashman has repped writers and directors including Anything’s Possible scribe Ximena Garcia Lecuona, writing duo Katie J. Stone & David Daitch (Splinter Cell, Shooter), Natasza Parzymies, Julie Siege (The Sinner, Narcos) and Joe Sousa (Before, Chicago Med).

“Lucy has become an invaluable member of our Content Development team and is doing tremendous work for our clients, and this is a richly deserved promotion,” said Loftus and Parker.   

Mon, 10 Oct 2022 11:09:00 -0500 en-US text/html
Killexams : APA Corp. Scours the Globe for Oil and Gas. Its Stock Could Be a Gusher.

Investors could have picked just about any oil and gas stock in the past two years and made money, given the surge in commodity prices. To profit over the next year, they’ll have to look for distinctive companies.

One of the industry’s most compelling outliers is APA Corp. (ticker: APA), a modest-size Houston firm with a wide-ranging global footprint. It drills in Texas but also happens to be the largest oil producer in Egypt and an offshore driller in Europe.

Thu, 22 Sep 2022 20:30:00 -0500 en-US text/html
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