速寫 Day30

來源：Pinterest

今天沒有速寫。
所以把以前臨摹的東西放上來。
因為今天是放縱day。
消夜吃著鹽酥雞喝了啤酒，
真的是人生極樂。
~~明天一定畫><~~

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我覺得，
「結尾彩蛋」這個東西，
是一種修行後的獎勵。

經過了苦難，
也就是把劇中參與名單看完，
抑或是把動畫ED看完後，
製作商留給那些
即使電影已經結束了，
依然把眼球停留下來的觀眾，
一個修行後的獎賞。
同時，
也是一個對觀眾的致敬、感謝。

也有點類似像是吃一蘭拉麵。
把湯給喝到見底之後，
會看到碗底印著
「この一滴が最高の喜びです」這句話。
意思類似，
把這碗湯喝到一滴不剩，
是我們至高無上的喜悅。

我想說的是，這種類型的彩蛋，
不需要先備知識才能理解；
不需要聚精會神才能發覺。
僅僅只是給這些願意支持作品的觀眾們
一個來自製作者最純粹的敬意。

我今天想說的是，
我這輩子到目前為止，
最印象深刻，
同時也最感動的片段，
是白箱第18集，ED後的彩蛋。

大意來說，就是某個在動畫產業奉獻數十年，
專職動畫背景的大叔，
在現代這個電子化的時代，
認為現在的動畫產業裡，
已經沒有這個只會在紙上畫畫的人的用武之地了。
因而自我放棄，
每天在居酒屋喝到爛醉。

然而這樣的他，
依然被主角提出畫作請求。
中間有太多細節，
牽扯到創作者的自尊心、
老戰友昔日一同奮鬥的情誼等。

因此雖然畫動畫背景的大叔多次拒絕，
但在主角的積極請求下，
最終還是答應了下來。
光是這部分動畫裡就有許多細節值得玩味了。
但我今天主要不是想說這部分。

而是動畫結尾斷在主角剛與畫背景的大叔談好，
結果大叔直接斷訊兩三天，完全聯絡不到。
主角當然很著急，
但觀眾更著急，
因為就斷在這個
「好想趕快點開下集看發生什麼事」
的一個最剛好的時間點。

那結尾彩蛋是什麼呢？
是那個畫背景的大叔直接爬山去取景啊！
「在紙上畫圖的人，功力才是最強的」
這句話在心中淡然浮現，
而隨之而來的動作，
是那個大叔豎著舉起一枝鉛筆，
對準景物確認比例、透視的動作。
接著，在紙上簡單幾筆，
便完成了一點透視。

「我的天，帥到哭。」

Corporate Trustee (受託公司) act in a fiduciary (受託人) capacity to make sure the bond’s issuer abides by the bond indenture’s covenants (契約).
Such covenants include nagative (or restrictive), positive, and financial.

1. Mortgage bonds
1. Collateral trust bonds: backed by stocks, notes, bonds, etc.
1. Equipment trust certificates (ETCs): the trustee purchases the equipment and leases it to the user of the equipment.
1. Debentures: are unsecured bonds, such as most corporate bonds.
1. Subordinated debenture bonds: have a claim that is at the bottom of the list of creditors if the issuer goes into default.

The indenture would include:
1. Call provisions: call options that the issuer owns, who has the right to purchase at a fixed price either in whole or in part before maturity.
  <1> Fixed-price call
  <2> Make-whole call: the market rates determine the call price.
1. Sinking-fund provision: the issuing firm retires a specified portion of the debt each year as outlined in the indenture.
1. Maintenance and replacement fund (M&R): to maintain the credibility of the property backing in the bonds.
1. Tender offers: are a means for retiring debt for most firms.

Credit spread risk:
<1> Credit spread: Focus on the difference between a corporate bond’s yield and the yield on a comparalbe-maturity benchmark Treasury security.
<2> Spread duration
Event risk: Involving significant increase in leverate, such as recapitalizaions, mergers, acquisitions, etc.
-> In order to protect bondholders, a company may include in the indenture a maintenance of net worth clause to maintain a minimum equity level.

Junk bonds.
Fallen angels: issued with an investment-grade but rating lowered due to events.
Types of coupon structure:
<1> Deferred-coupon bonds.
<2> Step-up bonds: pay lower in the early years and higher in later years.
<3> Payment-in-kind bonds: pay interest in the form of additional bonds.
<4> Extendable reset bonds: allow the issuer to reset the coupon.

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Zero-coupon bond obligation of a bankrupt corporaion would have a claim equal to the issuing price plus accrued interest.
ETCs are generally the most secure because the underlying assets are owned by the trustee and rented to the borrower.
Call provision is generally most detrimental (有害的) for the bondholders because it means that the price was below the market price.
The recovery rate is the amount received as a proportion of the total obligation after a bond defaults.
Expected loss rate = Probability of default \(\times \space ( 1\space - \) expected recovery rate)
Expected return = risk-free rate + credit spread - expected loss rate.

我會繼續努力的。