IF by RUDYARD KIPLING
If you can keep your head when all about you
Are losing theirs and blaming it on you,
If you can trust yourself when all men doubt you
But make allowance for their doubting too,
If you can wait and not be tired by waiting,
Or being lied about, don't deal in lies,
Or being hated, don't give way to hating,
And yet don't look too good, nor talk too wise:
If you can dream--and not make dreams your master,
If you can think--and not make thoughts your aim;
If you can meet with Triumph and Disaster
And treat those two impostors just the same;
If you can bear to hear the truth you've spoken
Twisted by knaves to make a trap for fools,
Or watch the things you gave your life to, broken,
And stoop and build 'em up with worn-out tools:

If you can make one heap of all your winnings
And risk it all on one turn of pitch-and-toss,
And lose, and start again at your beginnings
And never breath a word about your loss;
If you can force your heart and nerve and sinew
To serve your turn long after they are gone,
And so hold on when there is nothing in you
Except the Will which says to them: "Hold on!"

If you can talk with crowds and keep your virtue,
Or walk with kings--nor lose the common touch,
If neither foes nor loving friends can hurt you;
If all men count with you, but none too much,
If you can fill the unforgiving minute
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And--which is more--you'll be a Man, my son!


--Rudyard Kipling

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During the 1960s and 1970s, the value of the Nobel Prizes multiplied in Swedish krona terms but rapid inflation meanwhile undermined their real value, The first 50 years of management came to be characterized by rigidity in terms of financial investments and by an increasingly onerous tax burden. Remarkably, the tax issue had not been addressed when the Nobel Foundation was established. The tax-exempt status that the executors of the will and others had real terms from SEK 150,000 in 1901 (equivalent to 20 times the annual salary of a university professor) to a mere one third of this value. During its first year, Nobel Media worked on the TV rights of already well known Nobel programmes such as the Nobel Prize Award Ceremony and Banquet, Nobel Minds, documentaries and portraits of the Nobel Laureates. of the Board by the King in Council with the Justice of the Supreme Court C. G. Hernmarck as Deputy. On October 3, 1900 the Board elected Assistant Circuit Judge Henrik Santesson as the first Executive Director of the Foundation. Effective on January 1, 1901 the Board assumed management of the Foundation's assets. fortunate enough to sell its entire holding in Bev?ringen before the real estate crash of the early 1990s. After almost a hundred years of existence, the Nobel Prizes - as well as the centenarian Nobel Foundation - have become solid institutions, based on a great tradition since their beginning. The original criticisms aimed at the whole idea of the Nobel Prizes have faded into oblivion. Both in Sweden and in Norway, the awarding action, enabling the Foundation to pursue an investment policy not dominated by tax considerations that characterize the actions of many investors. In 1974, the Statutes were changed in two respects. The confidential archive material that formed the basis for the evaluation and selection of candidates for the prizes, which was previously closed to all outsiders, could now be made available for purposes of historical research if at least 50 years had elapsed Director, would be determined by the Foundation's Board instead of the Swedish Government. Otto Stern (1943) and Isidor Isaac Rabi (1944) - and four Laureates in Physiology or Medicine - Henrik Dam and Edward Doisy (1943), and Joseph Erlanger and Herbert S. Gasser (1944). Speeches by Sweden's Crown Prince Gustaf Adolf and by Professor The Svedberg were broadcast on American radio the same day. The 1943 Laureate Until 1960 the Chairman was chosen from the small group of "Gentlemen of the Realm" - prime ministers, ministers for foreign affairs and other high officials. In 1960 for the first time, a renowned scientist was chosen: Arne Tiselius, Professor of Biochemistry at Uppsala University and 1948 Nobel Laureate in Chemistry. prize-awarding capacity. This change is necessary to avoid undermining the value of the Nobel Prizes. The Nobel Foundation may also decide how much of its assets may be invested in shares. In the long term, this may mean that the Foundation can now have a higher percentage of its assets invested in shares, The Center combines exhibits and films with digital communication and interactive installations, and has already received attention for its modern design and use of state of the art technology. The British architect David Adjaye, the American designer David Small and a number of other artists have contributed to making the Center an exciting new reason to visit Oslo. Then, in 1953, the Government approved a radical liberalization of the investment rules. The Foundation was granted a more extensive freedom to manage its capital independently, as well as the opportunity to invest in stocks and real estate. Freedom of investment, coupled with tax-exemption and the financial Since then the Chairman has been chosen from among members of the Prize-Awarding Institutions. It has also become a rule that the Deputy Chairman as well as one of the members of the Board elected by the Trustees should be persons with financial expertise. This custom began in 1951, when senior banker and industrialist in Stockholm, while in Norway the Norwegian Nobel Committee is in charge of the corresponding arrangements. On December 10, 1901, the Nobel Prizes were awarded for the first time in Stockholm and in Christiania (now Oslo) respectively. By 1991, the Foundation had restored the Nobel Prizes to their 1901 real value. Today the nominal fund capital of the Nobel Foundation is about SEK 4 billion. In 2000 each of the five Nobel Prizes as well as the Economics Prize was worth SEK 9 million (about USD 1 million). This is well above the nominal value Director, would be determined by the Foundation's Board instead of the Swedish Government.