Behavioral Finance and Your Portfolio 1st Edition Michael M Pompian
Behavioral Finance and Your Portfolio 1st Edition Michael M Pompian
Michael M Pompian
[Link]
portfolio-1st-edition-michael-m-pompian/
[Link]
TEXTBOOK
Available Formats
List of Tables
Chapter 11
Table 11.1 Portfolio Selection: Which Portfolio Seems Best?
Chapter 15
Table 15.1 Sample of a Periodic Table of Investment Returns
List of Illustrations
Chapter 1
Figure 1.1 Investor Returns from the 2019 DALBAR Report
Figure 1.2 The Behavioral Finance Gap
Figure 1.3 Robert Shiller, Sterling Professor of Economics
Yale University a...
Figure 1.4 Richard Thaler, PhD, 2017 Recipient of the Nobel
Memorial Prize i...
Figure 1.5 Meir Statman, PhD, Glenn Klimek Professor of
Finance at the Leave...
Figure 1.6 Daniel Kahneman, 2002 Nobel Prize Winner in
Economic Sciences
Figure 1.7 Professor Dan Ariely, James B. Duke Professor of
Marketing
Chapter 2
Figure 2.1 Most Significant Behavioral Biases Affecting
Client Investment De...
Figure 2.2 Categorization of Twenty Behavioral Biases
Chapter 4
Figure 4.1 Montier Observes That Analysts Cling to Their
Forecasts
Chapter 6
Figure 6.1 Sample-Size Neglect Diagnostic: Which Sequence
of Coin Toss Resul...
Chapter 7
Figure 7.1 A Sample Distribution of the Descending
Outcome Sequence in “The ...
Chapter 11
Figure 11.1 Which Line Is Longer?
Figure 11.2 Which Line Is Longer?
Chapter 16
Figure 16.1 The Value Function—A Key Tenet of Prospect
Theory
Chapter 23
Figure 23.1 The Dieter-Exerciser versus the Yo-Yo Dieter
Figure 23.2 Saver-investor versus the Over-Confident
Trader
Figure 23.3 The Risk-Averse Investor
Chapter 24
Figure 24.1 BIT Identification and Advice Process
Figure 24.2 Biases Associated with Each Behavioral
Investor Type
Chapter 25
Figure 25.1 Preserver Investor Type Characteristics
Chapter 26
Figure 26.1 Follower Investor Type Characteristics
Figure 26.2 Sample of a Periodic Table of Investment
Returns
Chapter 27
Figure 27.1 Independent Investor Type Characteristics
Chapter 28
Figure 28.1 Accumulator Investor Type Characteristics
Chapter 30
Figure 30.1 Percentage of Domestic Equity
Underperforming the S&P 1500...
Figure 30.2 Outperformance of Active Funds vs. Interest
Rates
Chapter 31
Figure 31.1 Behavioral Finance or Goals-Based Approach to
Asset Allocation
Figure 31.2 Sunpointe Asset Allocation Framework
Chapter 32
Figure 32.1 Market Corrections
Figure 32.2 Market Recoveries from Epidemic Episodes
Figure 32.3 Market Recoveries since 1946
BEHAVIORAL FINANCE AND
YOUR PORTFOLIO
MICHAEL M. POMPIAN
Copyright © 2021 by Michael M. Pompian. All rights reserved.
Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.
No part of this publication may be reproduced, stored in a retrieval system, or
transmitted in any form or by any means, electronic, mechanical, photocopying,
recording, scanning, or otherwise, except as permitted under Section 107 or 108 of
the 1976 United States Copyright Act, without either the prior written permission
of the Publisher, or authorization through payment of the appropriate per-copy fee
to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923,
(978) 750-8400, fax (978) 646-8600, or on the Web at [Link].
Requests to the Publisher for permission should be addressed to the Permissions
Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201)
748-6011, fax (201) 748-6008, or online at [Link]/go/permissions.
Limit of Liability/Disclaimer of Warranty: While the publisher and author have
used their best efforts in preparing this book, they make no representations or
warranties with respect to the accuracy or completeness of the contents of this
book and specifically disclaim any implied warranties of merchantability or fitness
for a particular purpose. No warranty may be created or extended by sales
representatives or written sales materials. The advice and strategies contained
herein may not be suitable for your situation. You should consult with a
professional where appropriate. Neither the publisher nor author shall be liable for
any loss of profit or any other commercial damages, including but not limited to
special, incidental, consequential, or other damages.
The charts and information in this presentation are for illustrative purposes only,
and are based upon sources of information that Sunpointe, LLC generally
considers reliable, however we cannot guarantee, nor have we verified, the
accuracy of such independent market information. The charts and information,
and the sources utilized in the compilation thereof, are subjective in nature and
open to interpretation.
For general information on our other products and services or for technical
support, please contact our Customer Care Department within the United States at
(800) 762-2974, outside the United States at (317) 572-3993, or fax (317) 572-
4002.
Wiley publishes in a variety of print and electronic formats and by print-on-
demand. Some material included with standard print versions of this book may not
be included in e-books or in print-on-demand. If this book refers to media such as
a CD or DVD that is not included in the version you purchased, you may download
this material at [Link] For more information about Wiley
products, visit [Link].
Library of Congress Cataloging-in-Publication Data
Names: Pompian, Michael M., 1963- author.
Title: Behavioral finance and your portfolio : a navigation guide for building wealth
/ Michael M. Pompian.
Description: Hoboken, New Jersey : Wiley, [2021] | Includes index.
Identifiers: LCCN 2021008937 (print) | LCCN 2021008938 (ebook) | ISBN
9781119801610 (hardback) | ISBN 9781119802006 (adobe pdf) | ISBN
9781119801993 (epub)
Subjects: LCSH: Finance—Psychological aspects. | Investments—Psychological
aspects. | Investments—Decision making.
Classification: LCC HG101 .P658 2021 (print) | LCC HG101 (ebook) | DDC
332.601/9—dc23
LC record available at [Link]
LC ebook record available at [Link]
Cover Design: Wiley
Cover Image: © sorbetto/DigitalVision Vectors/Getty Images
Founded in 2016, Sunpointe Investments is a wealth management
firm that also creates books and articles. Sunpointe is committed to
developing first class research and investing content for individuals
and financial advisors. Content topics range from portfolio
management to behavioral finance and much more.
For a list of article and books, please visit our Web site at
[Link].
This book is dedicated to my three sons Nicholas, Alexander, and
Spencer.
Preface
If successful, this book will change your idea about what an optimal
portfolio is. It is intended to be a guide to both understanding
irrational investor behavior and creating portfolios for individual
investors that account for these irrational behaviors. In this book, an
optimal portfolio lies on the efficient frontier, but may move up or
down it depending upon the individual needs and preferences of you
as an individual investment decision-maker. When applying
behavior finance to real-world investment portfolios, an optimal
portfolio is one that an investor can comfortably live with, so that he
or she has the ability to adhere to his or her investment program,
while at the same time reach long-term financial goals.
Given the run-up in stock prices from 2009, in the wake of the global
financial crisis, to 2020, and the bear market brought on by the novel
coronavirus, understanding irrational investor behavior is as
important as it has ever been. This is true both for the markets in
general, but most especially for individual investors. The intended
audience for the book is sophisticated individual investors who wish
to become more introspective about their own behaviors, and to truly
try to understand how to create a portfolio that works for them. The
intention is that it is a guidebook, to be used and implemented in the
pursuit of building better portfolios. When considering behavioral
finance, investors rightly have questions. Some of these are:
A Challenging Environment
Investors have never had more challenging times to invest in. Many
investors thought they had found nirvana in the late 1990s, only to
find themselves in quicksand in 2001 and 2002. And then we had the
bull market of the 2000s only to get taken down by the 2008–2009
Great Recession. Today, we have had the longest bull market in
history interrupted by the novel coronavirus bear market. In today's
environment, as well as in the past, investors are continuously asking
themselves:
To that end, investors need a handbook like this one that can help
them deal with the behavioral and emotional side of investing, so
that they can help themselves understand why they have trouble
sticking to a long-term program of investing. By implementing the
lessons in the book, you too can reach financial goals.
Naturally, there are many more situations not listed here that can
arise where this book will be helpful.
Plan of the Book
The first part of the book is an introduction to the practical
application of behavioral finance. These chapters will include an
overview of what behavioral finance is at an individual investor level
and an introduction to the behavioral biases that will be used when
incorporating investor behavior into the asset allocation process.
Parts Two, Three, and Four include a comprehensive review,
complete with a general description, practical application,
implications for investors, a bias diagnostic, and advice. Part Five of
the book reviews four Behavioral Investor Types, or BITS, and pulls
everything together in the form of case studies that will clearly
demonstrate how investors can use behavioral finance in real-world
portfolio settings. Part Six covers portfolio implementation:
Behavioral Finance Aspects of the Active/Passive Debate,
Behaviorally Aware Portfolio Construction, and Behavioral Finance
and Market Corrections.
Another Random Document on
Scribd Without Any Related Topics
Holltsoher Holofemes THE JEWISH ENCYCLOPEDIA 44S a
book entitled "Iggeret ha-Kedushah" (=: "Letter on Holiness ").
Bibliography : HastinBs, Diet. Bible; Hamburger, B. B. T., and Herzog-
Hauck, Real-Eneyc., s.v. HeUigkett ; Elijati de Vidas, Reshit Jfokmah,
Sha'ar Kedushah; M. Lazarus, Ethics of JudaUm, ii. ch. 4 and 7. K.
HOLITSCHEB, PHILIP: Hungarian land holder and author; born in
Budapest Aug. 19, 1823. His parents destined him for a mercantile
career, and in 1842 he took over his father's factory. He retired,
however, from business about thirty years later, and since then has
lived on his estate in Alag, devoting himself to economic questions.
Under the name of " Pidelius " he wrote a work on political economy
entitled "Die OesterrcichischeNationalbankundlhr Einfluss auf die
Wirtschaftlichen Verhaltnisse der Monarchic" (Vienna, 187.^). He
wrote also: "Im Banne Fortunas," a romance (Budapest, 1882);
"Erzahlungen" (1884); "Gedanken und Gestalten," poems (Breslau,
1887); "Skanderbeg," a drama (li. 1890) ; " Carols Weltreisen und
Abentheuer " (Stuttgart, 1892) ; " Der Letzte KOnig von Polen, " a
drama (ib. 1893); "Splitter und Balken," poems («J. 1895);
"NeuesLeben"(tS. 1895). Bibliography : Horv&th, KQnyveszeU 1884 ;
Szinnyel, Magyar Irak, Elete, iv.; Kurschner, Deutseher Literatur
Kalender, 1893. B. L. V. HOLLAENDERSKI, LEON L6B BEN DAVID :
Polish scholar and author ; born at Wistiniecz, government of
Suwalki, Russian Poland, 1808; died in Paiis Dec. 20, 1878. He
studied at Konigsberg, Prussia, and on his return in 1833 was
appointed an interpreter at the tribunal of Suwalki. There, in 1835,
he founded the first printing and lithographic establishment in the
government, as well as three bookstores. His Polish sympathies,
however, soon attracted the attention of the Russian government.
He was denounced, his property was confiscated, and he barely
escaped with his life to Paris (1843). Through the recommendation
of Arago he obtained a position in one of the railroad offices, and
employed his leisure time in literary pursuits, which gave him in after
years considerable reputation as a philosopher, moralist, historian,
and bibliographer. Of his published works may be mentioned: "Celine
la Niece de I'Abbe " (1832) ; " Histoire des Juifs en Pologne," the
first in its field (1846); "Trilogie PhilosoijhiqueetPopulaire: Moschek,"
a romance in which are faithfully depicted the Polish customs of that
time ; " Dix-huit Sifecles de Prejuges Chretiens " ; " Dictionnaire
Universel Frangais-Hebreu "; "L'Exemple,"an essay on morals;
"IsraeletSa Vocation," published in "Arch. Isr." (Paris, 1863-64).
Besides these works, he is the author of the following, in verse:
"Meditations d'un Proscrit Polonais"; "L' Amour et I'Hymen"; "La
Libert^ de FrancMagons " ; " Lamentation de Juifs Polonais sous
Nicolas 1"." He also translated Ibn Ezra's "Ma'adanne Melek," under
the title of "Delices Royales ou le Jen des Echecs " ; " Memoire de
Kilinsky " from the Polish into French; and the third part of Berakot
(Paris, 1871). His numerous contributions to periodical literature as
well as his works appeared variously under the names of "Holland,"
"Hollander," "Hollaender," and"H. L" Bibliography : Larousse, Diet.;
ZeitUn, Bihl. Jud. H. K. I. S. B. HOLLAND. See Nethbklauds.
HOLLANDER, JACOB H. : Associate professor of political economy
and head of the department of political economy in the Johns
Hopkins University; born in Baltimore July 23, 1871. He was
educated in the university to which he is attached (B. A. 1891 ;
Ph.D. 1894). Prior to graduation he was appointed instructor in
political economy in Amherst College, and taught there in the
autumn of 1894, when he was recalled to Johns Hopkins by
appointment as assistant in political economy. Since then he has
remained a member of its faculty, being successively promoted to
the rank of instructor (1895), associate (1896), associate professor
of finance (1899), and associate professor of political economy and
director of the department (1902). In 1897 he was selected as
secretary of the special rnlssion of the United States sent by
President McKinley to negotiate a monetary agreement with the
leading countries of Europe. He has served as chairman of the
committee on municipal finance of the Baltimore Reform League and
as chairman of the Municipal Lighting Commission of Baltimore. Early
in 1900 the United States government appointed Hollander special
commissioner to revise the laws relating to taxation in Porto Rico,
and on May 1, in the same year, treasurer of Porto Rico, which
position he held until July 25, 1901, when the island was declared
self-supporting. Hollander is now (1903) chairman of the publication
committee of the American Jewish Historical Society, and is a
member of the publication committee of thejewish Publication
Society. His more important works are: "The Cincinnati Southern
Railway : A Study in Municipal Activity" (Baltimore, 1894); "Letters of
David Ricardo to John Ramsay McCuUah" (New York, 1895); "Letters
of David Ricardo to Hutches Trower " (Oxford, 1899) ; " The
Financial History of Baltimore " (Baltimore, 1899) ; " Studies in State
Taxation " (edited ; ib. 1900) ; " Reports of Treasurer of Porto Rico "
(Washington, 1900-01). He has written many minor papers on
financial and economic subjects in scientific journals, and has
contributed to the publications of the American Jewish Historical
Society articles relating to the history of the Jews in Mar}'land. A. F.
H. V. HOLLANDEB, LUDWIG HEINRICH : German dental surgeon;
born at Leobschiitz Feb. 4, 1833; died at Halle March 14, 1897;
educated at the universities at Wilrzburg and Breslau (M.D. 1856).
During the following nine years he practised medicine in South
Africa. Returning to Germany in 1866, he settled in Halle as a dental
surgeon, and was admitted to the medical faculty of the university
as privat-docent in 1873. When in 1878 a dental department was
added to the medical institutions of the university, Hollander became
its principal, with the title of professor, which position he held until
his death. Hollander published his experiences in South
443 THE JEWISH ENCYCLOPEDIA Holitscher Holofemes
Africa in the " Globus," 1866 and 1867. He contributed several
essays on dental subjects to the medical journals, and in 1877
translated into German Tomes's " Manual of Dental Anatomy. " He
was also the author of "Beitrage zurZahnheilkunde," Leipsic, 1881,
and "Die Extraction der Zahne," ib. 1883. BiBLiOGKAPHT : Pagel,
BingrapMsclies Lexilion. R. F. T. H. HOliLE KHEISH: The ceremony of
naming infants, especially girls, in the cradle ("shemha'arisah "),
adopted by the German Jews from their neighbors. On the Sabbath
when the mother of the child attends the synagogue for the first
time after her confinement, children of from eight to ten years of
age are invited to the house for a festivity, where they form a circle
around the cradle in which the infant (as a rule, a month old) lies.
Lifting the cradle three times, they cry: "Holle! Holle! What shall the
child's name he? " Whereupon the child's common, or non-Hebrew,
name is called out in a loud voice, while tlie father of the child
recites the first verse of Leviticus. In some places the Book of
Leviticus is laid in the cradle, under the child's h^ead. In parts of
Germany tliis ceremony of naming the child was performed in the
case of both boys and girls ; but generally only girls were named on
such occasions, the naming of boys being done in connection with
circumcision. From Moses Minz (Responsa, No. 19),YuspaHahn ("
Yosef Omez," p. 313a), and Sefer Hasidim, pp. 1139-1140,
itappearsthat the custom was established among the German Jews
in tlie fifteenth century, and that its origin was so little known that
the name given it was taken to be partly Hebrew ("hoi" = " profane,"
and "kreish" = " naming"), and was interpreted : " the giving of the
profane [ornon-lioly] name." This explanation is even accepted by
Zunz C'G. V." p. 439) and by M. Bruck (" Pharisaische Volkssitten,"
1840, p. 37; see also L. L8w, "Lebensalter," 1895, p. 105, where
"holla" is taken as an interjection). But Dr. Perles has shown that the
custom originated in Germany, where Holle, like the Babylonian and
Jewish Lilith, was a demon eager to carry off infants; and, in order
to protect the child from injury, a circle was drawn around it and a
name given under forms intended to ward off the power of Holle. As
circumcision seemed a sufficient safeguard for boys, holle kreish by
the Jews was generally performed in the case of girls only.
Bibliography : Perles, in Grate Jubelschrift, 1887, p. 26. K.
HOLIiESCHAXT : City in Moravia, with about 6,600 inhabitants. The
old ghetto of Holleschau still forms a separate township, and
contains therefore a German interdenominational school, which is
mostly frequented by Jewish children. The Jewish community
numbers 1,500. In 1560 the synagogue was rebuilt by permission of
Henry von Sternberg, the lord of the manor. The war of Bethlen
Gabor against Ferdinand II. (1633) entailed much suffering upon the
community, due to Hungarian troops. Twenty-one years later the
community was plundered by the Swedes. At a synod held at
Holleschau in 1653 the old statutes for the Jewish communities in
Moravia (ni3pn X"''B') were for the first time revised and amended.
In 1683 the Jews were forbidden to appear in the market-place
during a procession. During the flood of 1686 hundreds of graves
were obliterated, the stones being washed from their original places.
In 1741 the community was laid under contribution by the Prussians,
and in 1743 it was ordered to paj', within a fortnight, 3,301 gulden
as war-tax ; the constant exactions of the war left the congregation
burdened with a debt of 40,000 florins. When Maria Theresa issued
an edict banishing the Jews from Moravia (1745), the synagogue in
Holleschau and the sacred vessels were seized, and the most
prominent of the Jews arrested. To complete their misery, a fire
broke out in the same year, destroying a third of the Jewish quarter.
In 1774, when Abraham Skrain killed his servant Josepha
Trumczmin, the populace were about to storm and burn the Jewish
quarter, but were prevented by the clergy, who placed altars with
holy images in front of Skrain's house. The next hundred years seem
to have been com paratively uneventful. Rudolph Eugene, Count of
Wrbna and Freudenthal, acted as mayor for the Jewish community
from 1864 until liis death in 1883. In 1891 the parish of Holleschau
was fixed, and since Jan. 1, 1893, the community has included those
of the counties of Holleschau, Bistritz, and Wisowitz. A new
synagogue was dedicated in 1898. Serious anti-Semitic disturbances
occurred in 1899, which were traceable to friction between Germans
and Czechs. The rabbinate of Holleschau, from 1630 to the present
century, has been held by: Isaac Segal, 1630. Menahem Mendel,
1646. Eliezer b. Abdeel Isaac, author of " Tikkun Soterim " (Prague,
1658) . Shabbethal Cohen, the "Schach," 1662. Moses Isaac J. L.
Zunz, 1668-78. Menahem Mendel, 1679-85 ; author of " Zinzenet
Mena^em." Israel Frankel, one of the Vienna exiles ; died 1700.
Eliezer Oettinger, 1689-1709 ; relative and teacher of Jonatban
Eybeschiitz. Joseph Oppenheim, 1710-14 ; son of the bibliophile
David Oppenheira. David Strauss, 1714-22. Saadia
Katzenellenbogen, 1733-36. Aaron M. M. Hamburg. 1730-59. Joseph
Freistadt, 1760-65. Isaac b. Abraham, 1767-86. Judah L8b Teomln
(Judah Llsser), 1788-94. Abraham Stern, author of " Mizrahl
Ma'arabi," 1798-97. Menahem Mendel Deutsch, 1802-19. Joseph
Biach Feilbogen, 1841-67. Markus PoUak, 1867-93. Jacob Freimann
(since 1893) . In addition to two synagogues the community has had
a bet ha-midrash since 1808 ; among the scholars appointed to it
was Salomon Haas (d. 1847), author of " Kerem Slielomoh. "
Bibliography: Scbwoy, Tnpographie vnm Markgraftum MUhren,
Vienna, 1794 ; Wolny, Die Mwrkgrafscliaft Mtihren, Briinn, 1835-38 ;
Freimann, Die Babbiner in Holleschm., 1903. D. J. FkEI.
HOLOCAUST. See Burnt Offering; Sacrifice. HOLOFEBNES,
HOLOPHEBNES : General of Nebuchadnezzar, mentioned in the
apocryphal Book of Judith; killed at Bethulia (Judith xiii. 6-8). The
name is evidently of Persian origin, similar in
Holofernes Holy Days THE JEWISH ENCYCLOPEDIA 444
formation to " Artaphemes," " Dataphernes, " "Tissaphernes," the
last element of each of which is "pharna " = " glorious " Blochet, in "
R. E. J." xxxi. 281). A similar name, "Orophernes," or "Olophernes,"
occurs in Cappadocian history, and is found on coins at Pirene, in
inscriptions at Onidos, and later in classical writers. According to
Diodorus of Sicily, a Holofernes, brother of the satrap Ariaratlies of
Cappadocia, lived at the time of Artaxerxes Ochus (359-337 B.C.).
Another was king of Cappadocia (158 B.C.) and a friend of
Demetrius I., Soter; with this Holofernes many scholars, following
Ewald, E. L. Hicks, and Willrich, identify the subject of this article.
Winckler originally (" Altorientalische Porschungen," ii. 273)
identified the latter with Asnapper (Assurbanipal) ; but in Schrader's
" K. A. T." 3d ed., p. 290, he seems to consider Cambyses as being
the original of the general in the Book of Judith. Klein has not been
followed by scholars in identifying Holofernes with Hadrian's general
Julius Severus("Actes du HuitiSme Congrfes . des Orientalistes," ii.
85 et seg., Leyden, 1893). For a fuller discussion of this subject see
Judith. It is worthy of notice that, though the longer Hebrew midrash
based on the Book of Judith does mention Holofernes, the shorter
version (which Gaster, "Proceedings Soc. Bib. Archeology," xvi. 156,
believes to be the older) substitutes Seleucus. According to the Book
of Judith, Holofernes is said to have been despatched by
Nebuchadnezzar with an army of 120,000 foot and 12,000 horse for
tlie purpose of taking vengeance "on all the earth " (Judith ii. 5).
After having devastated many countries, Holofernes reached
Esdraelon, and encamped between Geba and Scythopolis to collect
his forces. The Jews, resolved to defend themselves, fortified the
mountain passes. Holofernes was advised by Aohior, the captain of
Ammon, not to attack the Jews; but, ignoring the advice, he
proceeded against Bethulia. Instead of attacking the city, however,
he seized the wells, hoping thereby to compel the inhabitants to
capitulate. In this he would have succeeded but for a beautiful
widow named Judith who visited him at his camp, and, after a
banquet at which Holofernes became drunk, cut off his head and
escaped to Bethulia. The death of the general spread confusion
througli the ranks of the army, which retired in disorder before the
attack of the Jews. See Judith. Bibliography: Hicks, In Journal nf
Hellenic Studies, vl. 261 ; Marquardt, in Philolngus, liv. 3, p. 509 ;
Wlllrioh, Judaica, p. 28 : Schurer, Gesch. 3d ed., iii. 169. I. Br.— G.
HOLON (Jl^in = " sandy place" or "haltingplace"): 1. City of Judah,
in the Hebron hills, allotted, with its suburbs, to the priests (Josh. xv.
51, xxi. 15). In the parallel passage in I Chron. vi. 73 this city is
called " Hilen " (A. V. " Anem "). 2. City of Moab, in the plain of Moab
and east of the Jordan; mentioned with Heshbon, Dibon, and other
cities (Jer. xlviii. 21). B. G. H. M. Sel. HOLST, CARSTEN. See Bendix,
Frits Emu., HOLY CITT. See Jerusalem. HOLY DAYS.— Biblical Data
and Critical View. See Festivals. In Talmudio Law : Upon the six holy
days in the Jewish calendar — the first and seventh days of
Passover, the first and eighth days of Sukkot (Tabernacles), the day
of Shebu'ot (Weeks), and the day of Rosh ha-Shanah (New-Year) —
the Bible prohibits every kind of labor (Lev. xxiii. 7, 8, 21, 25, 35,
36). The punishment prescribed for the transgressor of this law is
stripes (see Crime). All kinds of work forbidden on the Sabbath are
forbidden also on the holy days, except such work as is necessary
for the preparation of food for the day of the festival (Ex. xii. 16;
Bezah 36a). The Day of Atonement is like the Sabbath in this
respect, that work of any kind is forbidden ; the only difference is in
the punishment meted out to the transgressor : for Sabbath-
breaking the punishment is stoning; for working on the Day of
Atonement it is excision (Karbt). Carrying objects from place to place
or kindling a fire, permissible in connection with the preparation of
food, is also permitted when done What for other purposes, so long
as too Work much labor is not involved. Even Permitted, with regard
to the preparation of food only such work is permitted as could not
be done before the holy day, or such as, if done before the holy day,
would not result satisfactorily. Thus, it is permitted to slaughter an
animal and to cook and bake on the holy day, because, if done
before, the food would not taste as well. But it is forbidden to
harvest, to gather fruit from a tree, to grind in a mill, or to do
anything that could have been done as well before the holy day. The
general purpose underlj'ing these laws is to enhance the joy of the
festival, and therefore the Rabbis permitted all work necessary to
that end, while guarding against turning it into a working-day
(Maimonides, " Yad," Shebitot Yom-Tob, i. 5-8). Although only so
much work is permitted as is absolutely necessary for the
preparation of the food for the day of the festival, an increase, for
instance, in the amount of meat cooked, when no extra labor is
caused thereby, even though not necessary for the day, is permitted.
The housewife may fill the kettle with meat, although only a portion
of itwill be used on the holy day ; she may fill the oven with bread,
even though she needs but one loaf (Bezah 17a; "Yad," Shebitot
Yom-Tob, i. 10). Washing and anointing were considered by the
Rabbis of as much importance as eating, and therefore they
permitted the heating of water for the purpose of washing face,
hands, and feet, but not for the whole body (Bezah 21b; "Yad,"
Shebitot Yom-Tob, i. 16; Shulhau 'Aruk, Orah Hayyim, 511, 3). On
the holy days some authorities forbid the use of any object not
previously designated for that purpose ("mukzeh"). A chicken kept
"Mu^zeh" for its eggs, or an ox kept for plowand "Ha- ing, or fruit
kept for business may kanah." not be used as food on a holy day
unless it has been expressly stated before the holy day that these
were destined to be used as food (" hakanah "). All authorities agree
that objects that come into existence on a holy day ("nolad") may
not be used on that day ("Yad," Shebitot YomTob, i. 17, 18; RAbD
and Kesef Mishneh ad loe.; Orah Hayyim, 495, 4, Isserles' gloss). It
is forbid
445 THE JEAVISH ENCYCLOPEDIA Holofernes Holy Days
den to eat an egg laid on the day of a festival, notwitlistaDding the
fact that it may have been ready the day before. The reason for this
law as given in Bezah 2b is, according to Rabba, as follows : It is not
permitted to prepare on the Sabbath for a festival that follows it, or
on a festival for the Sabbath following it. Hence, an egg laid on a
festival immediately following the Sabbath may not be used on that
day because it was prepared on the Sabbath, and in order to make
the law uniform so that no mistake could occur ("gezerah"), it was
forbidden even if laid on a festival not immediately preceded by a
Sabbath. If the holy day occurred on a Friday, no food could be
prepared for the coming Sabbath unless express provision had been
made for such preparation on the day preceding the holy day by
means of " 'erub tabshilin " (see 'Erub). This consists of bread and
some dish over which the blessing is pronounced and an Aramaic
formula recited in which the significance of the 'erub is declared. The
idea of the 'erub is that tliis dish, prepared before a festival for the
Sabbath, is regarded as the beginning of the Sabbatical
preparations, which need only be continued on the holy day (Bezah
15b; "Yad," Shebitot Yom-Tob, vi. 1, 2; Orah Hayyiin, 521; see
Bezah). The second-day holy day, although a rabbinical institution
established because of the uncertainty of the calendar, was still
regarded by the Rabbis as of equal sanctity with the iirst day, and all
work forbidden on the first day is also forbidden on the second.
While no punishment is preSecond scribed for the violator of a
second-day Days of holy day, the Jewish communities took Festivals,
it upon themselves to inflict punishment upon him.
Excommunication, even beating (" makkat mardut "), was frequently
the lot of such a transgressor (see Excommunication). The only
distinction the Rabbis make between the first and second days
concerns burials ; on the fli-st day the burial must be carried out by
non- Jews, on the second^day Jews are permitted to conduct it. The
two days are regarded in all respects as two distinct holy days, and
objects that come into existence on the first day can be used on the
second. The two days of New-Year, however, are considered as one
day, except in the case of a burial, which is permitted on the second
day (Bezah 6a ,~ "Yad," Shebitot YomTob, i. 22-24; Orah Hayyim,
496, 536). For the laws concerning Palestinian Jews, who do not
observe the second day, but who have settled in a place outside
Palestine where it is observed, or vice versa, see Conflict op Laws ;
Custom. To rejoice and be cheerful on the holy days is
recommended by the Rabbis. It is customary to give new toys and
fruit to children, new garments and ornaments to women, and to
have meat and wine on the table during these days. The day should
be divided into halves, one to be spent in eating, drinking, and
amusement, the other in worship and study. Fasting or the delivering
of funeral orations is forbidden. Too much drinking and excessive
hilarity, however, are not encouraged. The court used to appoint
overseers, who visited the public parks and gardens to see that men
and women in their joviality should not commit sin. The law thus
succeeded in establishing a dignified observance of the festivals by
the Jews, free from asceticism or licentious hilarity (Bezah 15b;
Shebitot Yom-Tob, vi. 16-21; Orah Hayyim, 529). For the ritual of the
holy days see the articles on the several holy days. The week-days of
the festivals ("Hoi ha-Mo'ed ") of Passover and of Sukkot are
considered assemiholy days, and only certain kinds of work Hoi are
permitted on them. Any kind of ha-Iffo'ed. labor requiring immediate
attention may be done on these days. The Rabbis, however^
included a great many kinds of labor under this head, while
preserving the sanctity of the hoi ha-mo 'ed by pro vidin g certain si
gns which should remind the Jew of the festival (" shinnui "). It is
forbidden to transact regular business on these days, though a man
may buy or sell privately, and thus be enabled to spend more for the
coming festival. At present in many lands it is customary for
storekeepers to goto their places of business during these days, but
to make some change by keeping the doors only half open or by
keeping the shades down. It is forbidden to write on these days, but
it is customary to write letters, though some change is made, as by
writing lengthwise instead of across the paper, etc. There is a certain
leniency in the interpretation of all these laws ; and while the
sanctity of the festival is still maintained in various ways, lew
hesitate to do various kinds of work or to pursue their daily
occupations (Hag. 18a; M. K. i., ii., iii. ; Shebitot Yom-Tob, vii., viii. ;
Orah Hayyim, 530-548). No marriage should be celebrated on these
days, on the principle that one joy should not be confused with
another joy. It is permitted, however, to celebrate a betrothal or to
remarry a divorced wife (M. K. 8a). In the case of a funeral there
should be no excessive mourning (see Moubning). Shaving or hair-
cutting is forbidden, as every one should prepare himself before the
holy day. begins. Only such as could not possibly do so before the
holy day, as the prisoner who has just been released, or the
excommunicate whose term has expired, or one arrived from a far-
off land, may have his hair cut on these days (M. K. 14a; Orah
Hayyim, 531, 532; Isserles forbids also the cutting of one's nails).
The order of services is the same as on workingdays, except that the
prayer " Ya'aleh we- Yabo " (May Our Remembrance) is inserted in
the "Shemoneh 'Esreh." After the regular morning service the "
HaTlel " is recited and a section of the Law is read, after which the
additionaf service of the festival ("Musaf "), in which, according to
the Ashkenazic ritual, the Biblical verses for the day are inserted, is
read. During the middle days of Passover, "half Hallel " is read, that
is, the first eleven Ritual. verses of Psalms cxv. and cxvi. are omitted
(see Hallel). The lesson of the Law for Hoi ha-Mo'ed contains Biblical
selections connected in some way with the character of the day. If
one of these days falls on a Sabbath, the weekly portion is omitted,
and instead a portion from Exodus (xxxiii. 13-xxxiv. 26), which
contains a short reference to the three festivals, is read. The
Haftakah for Passover is the vision of the valley of the dry bones
(Ezek. xxxvi. 37-xxxvii. 14), and for Sukkot the account of the wars
of Gog and Magog (Ezek. xxxviii. 18-xxxix. 16). It is also
Holy Days Holy Spirit THE JEWISH EKCYCLOPEDIA 446
customary in many communities to read the scroll of Canticles on
the Sabbath of the middle days of Passover, and of Ecclesiastes on
that of the middle days of Sukkot (Orah Hayyim. 490, 663). Peculiar
ceremonies attend the services on the last of the middle days of
Sukkot, vphich is known by a distinct name — "flosha'na Kabbah."
There is a difEerence of opinion among the early authorities as to
whether tefillin are to be worn on these days or not, and in
consequence various customs arose. The Sephardic Jews do not
wear tefillin on these days, while the Ashkenazim do. Some are
careful not to pronounce the blessings on tefillin at all, while others
say them in a whisper. ' The Hasidim follow the Sephardim in this as
in many other customs. However, before Musaf on the middle days
of Passover, and before " Hallel " on Sukkot, the tefillin are always
removed (Orah Hayyim, 31, 2, Isserles' gloss ; see Phylacteries).
These days being a period of leisure to many Jews, they were
devoted by the medieval Jewish communities to the consideration of
congregational affairs. In Germany the election of the governing
body of the congregation took place upon them. Collections for
charitj- were taken up, and houseto-house begging was also
permitted (sometimes also on Fridaj's). In spite of the stringent laws
against gambling in some medieval Jewish communities, many
indulged in card-playing and in other games of chance (see
Gambling). In commemoration of the rejoicings that accompanied
the ceremony of the "drawing of water" in Temple times (Suk. 51a;
"Tad," Lulab, viii. 12-15), many Jewish communities, especially in
Russia and Poland, indulge in festivities and merrymaking during the
evenings of the middle days of Tabernacles (" Simhat Bet ha-
Sho'ebah "). Various hymns taken from the ritual are chanted,
refreshments are served in the bet ha-midrash, and the young are
permitted to indulge in various pleasures. Bibliography: Dembitz,
Services in the Synagogue and Hnme, Philadelphia, 1898 ;
Abrahams, Jewish Life in the Middle Aoes, Philadelphia, 1896. s. 8. J.
H. G. HOLY GHOST. See Holy Spirit. HOLY OF HOLIES (Vulgate, "
Sanctum Sanctorum"; Hebr. "Kodesh ha-Kodashim," or, more fully,
"Bet Kodesh ha-Kodashim," II Chron. iii. 8, 10; R. V. " the most holy
house ") : That part of the Tabernacle and of the Temple which was
regarded as possessing the utmost degree of holiness (or
inaccessibility), and into which none but the High Phiest — and he
only once during the year, on the Day of Atonement — was
permitted to enter (see Atonement, Day op). A similarly high degree
of holiness was ascribed to the following: the altar (Ex. xxix. 37; A.
V. "most holy"); the incense-altar (ib. xxx. 10); all the implements of
the sanctuary {ib. xxx. 29 ; Num. iv. 4, 19); the things reserved for
the priests ("minhah"; Lev. ii. 3, 10; vi. 10; x. 12; Num. xviii. 9; Ezra
xlii. 13); the sin-offering (Lev. vi. 18, 22; x. 17); the guilt-offering
(Lev. vii. 1, 6; xxxi. 14); the offering of the leper (because it belongs
to the priests ; Lev. xiv. 13) ; and the showbread (Lev. xxiv. 9). The
designation " most holy " is applied also to the work of Aaron and
his sons (I Chron. vi. 49). The inner room or cell of the sanctuary,
termed also the " mi^dash ha-kodesh " (Lev. xvi. 33 ; A. V. " the
holy sanctuary "), is known as the In the " Holy of Holies " par
excellence. As Tabernacle such it comprised that smaller western
and th.e part of the Tabernacle, the " mishkan, " Temple, which was
divided off from the remainder of the meeting-tent by a curtain or
veil suspended from four pillars of acacia overlaid with gold and
having sockets of silver (Ex. XX vi. 32, xxxvi. 36, R. V.). This curtain
was woven in four colors: white, blue, scarlet, and purple, and was
made of byssus, i.e., linen. The cell was cubelike in shape, being 10
ells high, 10 ells long, and 10 ells broad. It contained the Abk of THE
Covenant (Ex. xxvi. 34; comp. Josephus, "Ant." iii. 6, g§ 4, 5). In
Solomon's Temple the Holy of Holies formed a part of the house of
Yhwh (I Kings vi. 1 et seq.), which was 60 cubits in length, 20 cubits
in breadth, 30 cubits in height, and built of stone (Josephus, "Ant."
viii. 3, § 2: "white marble"), and was divided into two sections by a
partition of cedar-wood with a door covered by a costly curtain
(Josephus, I.e. § 3 ; II Chron. iii. 14). The section farthest from the
entrance, designated also as the "debir" (the "oracle," "the most
holy place," I Kings vi. 5, R. V. margin), was 20 cubits high and
presented the shape of a cube. The stone of this inner or hinder
part, like the outer room, was completely hidden with cedar boards
carved with knops or gourds and open flowers and then covered
with pure gold. This room must have been without light. In it was
placed the Ark {ib. vi. 18, 19). In the Second Temple, details of the
construction of which are not preserved in the Biblical documents
(Ezra vi. 3 mentions dimensions), the Holy of Holies was curtained
off (I Mace. i. 23, iv. 51). It was empty, except for a stone three
fingers in breadth on which the high priest deposited the censer
(Josephus, "B. J." V. 55; Yoma v. 2). In Ezekiel's ideal Temple the
Holy of Holies measured 20 cubits in length and the same in breadth
(Ezek. xli. 4). Ezekiel {ib. 31, 23) calls this inner section simply BHp
(R- V. " sanctuary "), in contrast to the " hekal " (= "temple"). In the
Herodian Temple the Holy of Holies was not divided off from the rest
of the hekal by a wall, but two curtains, a cubit apart, parIn tlie
titioned the inner chamber from the Herodian outer room. These
curtains were Temple, richly wrought (Shek. viii. 5), and vfere so
arranged that in order to enter the high priest had to lift them
diagonally at the sides; the outer opening was at the south end, the
inner at the north (Yoma v. 1). The length of the Holy of Holies was
20 cubits. Above both the inner and the outer rooms was an upper
chamber, constructed to enable builders to make the necessary
repairs. A trap-door was above the Holy of Holies, and through this
the workmen were lowered in boxes, to guard against profanation
(lit. "feasting their eyes"). In this upper chamber the location of the
two rooms underneath was marked off (Mid. iv. 5). According to
Maimonides (" Yad," Betha-Behirah, iv. 1 ; see Yoma 23a), in the
Holy of Holies of the
447 THE JEWISH ENCYCLOPEDIA Holy Days Holy Spirit
Tabernacle was a stone on which the Ark rested ; before it was
placed the flask of mauna and Aaron's staff. Solomon made a
depression in order that these objects might, if necessary, be hidden
therein, which was done by Josiah (comp. Hor. 13a ; Ker. 5b ; Yoma
31a, 53a). Critical View : It is generally contended that the
Tabernacle represents a later priestly reconstruction patterned after
the Solomonic and Ezekiel's ideal Temples (see Graf, "Die Geschichtl.
Bilcher des Alten Testaments," Leipsic, 1868; Popper, "Der [Link]
Bericbt ilber die Stiftshlitte"). The account of Solomon's Temple (I
Kings vi.)is also very much involved, and probably represents various
sources. The legislation in P is based partly on actual practise, partly
on theoretical insistences anticipated to a certain extent in Ezekiel,
gradually realized in the Second (Zerubbabel's) Temple and fully
recognized as authoritative in the MaccabeanHerodian-Mishnaic
Temple. According to Bilchler ("Die Priester und der Cultus," Vienna,
1895), during the last period of the Temple's existence certain
concessions were made with latitude for " laymen. " On the one
hand, the use of the term " Kodesh haKodashim " as a synonym for,
or a later explanation of, "debir" (= "oracle"), and the application of
the same designation to all the things that were accessible only to
the priests, and, on the other, the uncertainty of the use of the
double phrase in Ezekiel (see above ; Smend, Commentary on Ezek.
Ixi. ; Bleek, ■'Binleitung,"4thed., p. 334), indicate a gradual
evolution of the notion that certain places and things partook of a
higher degree of holiness than others. The analysis of the various
passages shows that "Kodesh," originally designating "property of or
reserved for Yhwh," only gradually came to admit of different
degrees. In distinction from all tithes which are holy those belonging
to the priests are further designated as "mikdash" (Num. xviii. 29;
comp. ib. viii. 33). Applied to locality, this distinction in degrees is
noticeable first in Ezekiel. His idea of the ascending scale of holiness
is apparent in his designation of the Temple territory as " Holy of
Holies " in comparison with the surrounding Levitical land (Ezek. xliii.
13, xlviii. 13). This notion pervades the Priestly Code and is detei-
minative of the later Jewish conception, which ascribes to the land of
Israel, the city of Jerusalem, the different courts and buildings of the
Temple, in a fixed but ascending scale, different degrees of sanctity
(Sanh. 3a, 16a; Sheb. 14a; "Tad,"Z.c. vi.). Bibliography : Saalschiitz,
ArchOologie der Hebraer, ii. 318 ; Hanebere, Die BeligiOsen
AltertUmer, Munich, 1869; Bahr, Symbolik ties Mosaiachen Cultus, 2d
ed., i.; Wellhausen, Prolegomena zur Oesch. Israels: Josepbus, B. J.
v. 5; Winer, B. B. ii.; Spless, Das Jerusalem des Josepiim, 1881 ; De
Vogil^, Le Temple de Jerusalem, Paris, 1864 ; Hildeshelmer, Die
Beschreibung des Herod, Tempels, etc., Berlin, 1876; Baudissin,
[Link]., Leipsic, 1878. j; Q JJ
HOLY XiAND. See Palestine. HOLY SCRIPTXJEES. See Bible Canon.
HOLY SPIRIT (Hebr. EsnpH nil; Greek, irvev/ia kyiov): The most
noticeable difference between sentient beings and dead things,
between the living and the dead, is in the breath. Whatever lives
breathes ; whatever is dead does not breathe. Aquila, by strangling
some camels and then asking Hadrian to set them on their legs
again, proved to the emperor that the world is based on " spirit "
(Yer. Hag. 41, 77a). In most languages breath and spirit are
designated by the same term. The life-giving breath can not be of
earthly origin, for nothing is found whence it may be taken. It is
derived Biblical from the supernatural world, from View of the God.
God blew the breath of life into Spirit. Adam (Gen. ii. 7). " The Spirit
of God hath made me, and the breath of the Almighty hath given me
life " (Job xxxiii. 4; comp. ib. xxvii. 3). God "giveth breath unto the
people upon it [the earth], and spirit to them that walk therein" (Isa.
xlii. 5). "In whose hand is the soul of every living thing, and the
breath of all mankind " (Job xii. 10). Through His spirit all living
things are created ; and when He withdraws it they perish (ib. xxxiv.
14; Ps. civ. 39, 30). He is therefore the God of the spirits of all flesh
(Num. xvi. 33, xxvii. 16). The breath of animals also is derived from
Him (Gen. vi. 17 ; Ps. civ. 30 [A. V. 39] ; Eccl. iii. 19-21 ; Isa. xlii. 5).
The heavenly bodies likewise are living beings, who have received
their spirit from God (Job xxvi. 13; Ps. xxxiii. 6). God's spirit hovered
over the form of lifeless matter, thereby making the Creation
possible; and it still causes the moat tremendous changes (Gen. i. 3
; Isa. xxxii. 15). Hence all creatures live only through the spirit given
by God. In a more restricted sense, however, the spirit of God is not
identical with this life-giving spirit. He pours out His own spirit upon
all whom He has chosen to execute His will and behests, and this
spirit imbues them with higher reason and powers, making them
capable of heroic speech and action (Gen. xli. 38; Ex. xxxi. 3; Num.
xxiv. 2; Judges iii. 10; II Sam. xxiii. 2). This special spirit of God
rests upon man (Isa. xi. 3, xlii. 1) ; it surrounds him like a garment
(Judges vi. 34; II Chron. xxiv. 30) ; it falls upon him and holds him
like a hand (Ezek. xi. 5, xxxvii. 1). It may also be taken away from
the chosen one and transferred to some one else (Num. xi. 17). It
may enter into man and speak with his voice (II Sam. xxiii. 2; Ezek.
ii. 2; comp. Jer. x. 14). The prophet sees and hears by means of the
spirit (Num. xxiv. 3 ; I Sam. x. 6 ; II Sam. xxiii. 3 ; Isa. xlii. 1 ; Zech.
vii. 13). The Messianic passage in Joel ii. 28-39, to which special
significance was subsequently attached, is characteristic of the view
regarding the nature of the spirit: "And it shall come to pass
afterward, that I will pour out my Spirit upon all flesh ; and your
sons and your daughters shall prophesy, your old men shall dream
dreams, your young men shall see visions : And also upon the
servants and upon the handmaids in those days will I pour out my
Spirit. " What the Bible calls "Spirit of Yhwh" and "Spirit of Elohim" is
called in the Talmud and Midrash "Holy Spirit" ("Ruah ha-Kodesh,"
never " Ruah Kedoshah," as Hilgenfeld says, The in "Ketzergesch." p.
337). Although Divine the expression " Holy Spirit " occurs in Spirit.
Ps. Ii. 11 (LXX. nvev/ia to ayiov) and in Isa. Ixiii. 10, 11, it had not
yet the definite meaning which was attached to it in rabbinical
literature: in the latter it is equivalent to the
Holy Spirit THE JEWISH ENCYCLOPEDIA 448 expression
"Spirit of the Lord," wliicli was avoided on account of the
disinclination to the use of the Tetragrammaton (see, for example,
Targ. to Isa. xl. 13). It is probably owing to this fact that the
Shekinah is often referred to instead of the Holy Spirit. It is said of
the former, as of the Holy Spirit, that it rests upon a person. The
difference between the two in such cases has not yet been
determined. It is certain that the New Testament has nvev/ja ayiov
in those passages, also, where the Hebrew and Aramaic had "
Shekinah " ; for in Greek there is no equivalent to the latter, unless it
be drffa (= " gleam of light "), by which " ziw ha-shekinah " may be
rendered. Because of the identification of the Holy Spirit with the
Shekinah, nvtv/ia ayiov is much more frequently mentioned in the
New Testament than is " Ruah haKodesh " in rabbinical literature.
Although the Holy Spirit is often named instead of God (e.g., in Sifre,
Deut. 31 Nature [ed. Friedmann, p. 73]), yet it wasconof the Holy
ceived as being something distinct. Spirit. The Spirit was among the
ten things that were created on the first day (Hag. 12a, b). Though
the nature of the Holy Spirit is really nowhere described, the name
indicates that it was conceived as a kind of wind that became
manifest through noise and light. As early as Ezek. iii. 12 it is stated,
" the spirit took me up, and I heard behind me a voice of a great
rushing," the expression " beliind me " characterizing the unusual
nature of the noise. The Shekinah made a noise before Samson like
a bell (Sotah 9b, below). When the Holy Spirit was resting upon him,
his hair gave forth a sound like a bell, which could be heard from
afar. It imbued him with such strength that he could uproot two
mountains and rub them together lilie pebbles, and could cover
leagues at one step {ii. 17b ; Lev. R. viii. 2). Similarly Acts ii. 2
reads: "And suddenly there came a sound from heaven as of a
rushing mighty wind, and it filled all the house where they were
sitting " (it must be noted that this happened at Pentecost, i.e., the
Feast of Revelation). Although the accompanying lights are not
expressly mentioned, the frequently recurring phrase " he beheld ["
heziz " ] in the Holy Spirit " shows that he upon whom the spirit
rested saw a light. The Holy Spirit gleamed in the court of Shem, of
Samuel, and of King Solomon (Gen. R. Ixxxv. 12). It " glimmered " in
Tamar (Gen. xxxviii. 18), in the sons of Jacob (Gen. xlii. 11), and in
Mdses (Ex. ii. 13), i.e., it settled upon the persons in question (see
Gen. R. Ixxxv. 9, xci. 7; Lev. R. xxxii. 4, "nizozah " and "heziz " ;
comp. also Lev. R. viii. 2, "hithil le-gashgesh "). From the day that
Joseph was sold the Holy Spirit left Jacob, who saw and heard only
Indistinctly (Gen. R. xci. 6). The Holy Spirit, being of heavenly origin,
is composed, like everything that comes from heaven, of light and
fire. When it rested upon Phinelias his face burned like a torch (Lev.
R. xxi., end). When the Temple was destroyed and Israel went into
exile, the Holy Spirit returned to heaven; this is indicated in Eccl. xii.
7: "the spiiit shall return unto God" (Eccl. R. xii. 7). The spirit talks
sometimes with a masculine and sometimes with a feminine voice
(Eccl. vii. 29 [A. V. 38]) ; i.e. , as the word " ruah " is both masculine
and feminine, the Holy Spirit was conceived as being sometimes a
man and sometimes a woman. The four Gospels agree in saying that
when Jesus was baptized the Holy Spirit in the shape of a dove
came down from the opening In the heaven and rested upon him.
The Form of phraseology of the passages, especially a Dove, in
Luke, shows that this description was not meant symbolically, as
Conybeare ("Expositor," iv., ix. 455) assumes, following Alexandrian
views (comp. Matt. iii. 16 ; Mark i. 10 ; Luke iii. 22 : John iv. 33 ;
and Hastings, " Diet. Bible," ii. 406a). This idea of a dove-like form is
found in Jewish literature also. The phrase in Cant, ii, 13, " the voice
of the dove " (A. V. " turtle"), is translated in the Targum "the voice
of the Holy Spirit." The passage in Gen. i. 2, "And the Spirit of God
moved upon the face of the waters," is interpreted by Ben Zoma (c.
100) to mean, " As a dove that hovers above her brood without
touching it "(Hag. 15a). As the corresponding passage in the
Palestinian Talmud (Hag. 77b, above) mentions the eagle instead of
the dove, the latter is perhaps not named here with reference to the
Holy Spirit. A teacher of the Law heard in a ruin a kind of voice ("
bat kol ") that complained like a dove : " Wo to the children, because
of whose sins I have destroyed my house " (Ber. 3a, below).
Evidently God Himself, or rather the Holy Spirit, is here referred to as
cooing like a dove (comp. Abbot, " From Letter to Spirit, " pp. 106-
185). See Dove. The Holy Spirit dwells only among a worthy
generation, and the frequency of its manifestations is proportionate
to the worthiness. There was no manifestation of it in the time of
the Second Temple ( Yoma 21b), while there were many during the
time of Elijah (Tosef., Sotah, xii. 5). AccordDissemina- ing to Job
xxviii. 25, the Holy Spirit tion rested upon the Prophets in varying of
the Holy degrees, some prophesying to the exSpirit, tent of one
book only, and others filling two books (Lev. R. xv. 2). Nor did it rest
upon them continually, but only for a time. The stages of
development, the highest of which is the Holy Spirit, are as follows :
zeal, integrity, purity, hohness, humility, fear of sin, the Holy Spirit.
The Holy Spirit conducts Elijah, who brings the dead to life (Yer.
Shah. 8c, above, and parallel passage). The pious act through the
Holy Spirit (Tan., Wayehi, 14); whoever teaches the Torah in public
partakes of the Holy Spirit (Cant. R. i. 9, end; comp. Lev. R, xxxv. 7).
When Phinehas sinned the Holy Spirit departed from him (Lev. R.
XXX vii. 4; comp. Gen. R. xix. 6; Pesik. 9a). In Biblical times the Holy
Spirit was widely disseminated, resting on those who, according to
the Bible, displayed a propitious activity ; thus it rested on Eber and,
according to Josh. ii. 16, even on Rahab (Seder '01am, 1; Sifre,
Deut. 33). It was necessary to reiterate frequently that Solomon
wrote his three books. Proverbs, Canticles, and Ecclesiastes, under
the inspiration of the Holy Spirit (Cant. R. i. 6-10), because there
was a continual opposition not only to the wise king personally, but
also to his writings. A teacher of the Law says that probably for this
reason the Holy Spirit rested upon Solomon in his old age only (ib. i.
10, end).
449 THE JEWISH ENCYCLOPEDIA Holy Spirit The visible
results of the activity of tlie Holy Spirit, according to the Jewish
conception, are the books of the Bible, all of which have been
composed under its inspiration. All the Prophets spoke " in the Holy
Spirit " ; and the most charHoly Spirit acteristic sign of the presence
of the and Holy Spirit is the gift of prophecy, in Propliecy. the sense
that the person upon whom it rests beholds the past and the future.
"With the death of the last three prophets, Haggai, Zechariah, and
Malachi, the Holy Spirit ■ceased to manifest itself in Israel ; but the
Bat ^ol was still available. " A bat kol announced twice at assemblies
of the scribes : ' There is a man who is worthy to have the Holy
Spirit rest upon him. ' On one of these occasions all eyes turned to
Hillel; on the other, to Samuel the Lesser" (Tosef., Sotah, xiii. 2-4,
and parallels). Although the Holy Spirit was not continually present,
and did not rest for any length of time upon any individual, yet there
were cases in which it appeared and made knowledge of the past
and of the future possible (ib. ; also with reference to Akiba, Lev. R.
xxi. 8; to Gamaliel II., ib. xxxvii. 3, and Tosef., Pes. i. 27; to Mei'r,
Lev. R. ix. 9; etc.). The Holy Spirit rested not only on the children of
Israel who crossed the Red Sea (Tosef., Sotah, vi. 2), but, toward
the end of the time of the Second Temple, occasionally on ordinary
mortals; for "if they are not prophets, they are at least the sons of
prophets " (Tosef., Pes. iv. 2). The Holy Spirit is at times identified
with the spirit of prophecy (comp. Seder '01am, 1, beginning; Targ.
Yer. to Gen. xli. 38, xliii. 14; II Kings ix. 26; Isa. xxxii. 15, xl. 13, xliv.
3; Cant. R. i. 2). Sifre 170 (to Deut. xviii. 18) remarks: " ' I will put
My words into his mouth, ' means ' I put them into his mouth, but I
do not speak with him face to face ' ; know, therefore, that
henceforth the Holy Spirit is put into the mouths of the Prophets. "
The " knowledge of God " is the Holy Spirit (Cant. R. i. 9). The
division of the country by lot among the several tribes was likewise
effected by means of the Holy Spirit (Sifre, Kum. 133, p. 49a). On
"inspiration" see Jew. Encyc. iii. 147, s.v. Biblk Canon, § 9; especially
Meg. 7a; and Inspiration. It may simply be noted here that in
rabbinical literature single passages are often considered as direct
utterances of the Holy Spirit (Sifre, Num. 86; Tosef., Sotah, ix. 3;
Sifre, Deut. 355, p. 148a, six times; Gen. R. Ixxviii. 8, Ixxxiv. 12;
Lev. R. iv. 1 [the expression "and the Holy Spirit cries" occurs five
times], xiv. 2, xxvii. H; Num. R. XV. 21; xvii. 3, end; Deut. R. xi.,
end). The opposite of the Holy Spirit is the unclean spirit ( " ruah
tum'ah " ; lit. " spirit of uncleanliness "). The Holy Spirit rests on the
person who seeks the Sliekinah (God), while the unclean spirit rests
upon him who seeks uncleanness (Sifre, Deut. 173, and parallel
passage). Hence arises tJie contrast, as in the New Testament
between nvsvfia aymv and irvcvfta aicdBapTov. On the basis of II
Kings iii. 13, the statement is made, probably as a polemic against
the founder of Christianity, that the Holy Spirit rests only upon a
happy soul (Yer. Suk. 55a, and elsewhere). Among the VI.— 39
Gentiles and the Holy Spirit. pagans Balaam, from being a mere
Interpreter of dreams, rose to be a magician and then a possessor
of the Holy Spirit (Num. R. xx. 7). But the Holy Spirit did not appear
to him except at night, all pagan prophets being in possession of
their gift only then (ib. xx. 13). The Balaam section was written in
order to show why the Holy Spirit was taken from the heathen —
i.e., because Balaam desii'ed to destroy a whole people without
cause {ib. xx. 1). A very ancient source (Sifre, Deut. 175) explains,
on the basis of Deut. xviii. 15, that in the Holy Land the gift of
prophecy is not granted to the heathen or in the interest of the
heathen, nor is it given outside of Palestine even to Jews. In the
Messianic time, however, the Holy Spirit will, according to Joel ii. 28,
29, be poured out upon all Israel; i.e., all the people will be prophets
(Num. R. xv., end). Accord ing to the remarkable statement of Tanna
debe Eliyahu, ed. Priedmann, the Holy Spirit will be poured out
equally upon Jews and pagans, both men and women, freemen and
slaves. The doctrine that after the advent of the Messiah the Holy
Spirit will be poured out upon all mankind explains the fact that in
the New Testament such great importance is assigned to the Holy
Spirit. The phrase to nvev/ia TO aymv occurs from In the New eighty
to ninety times (Swete, in HasTestament. tings, "Diet. Bible," ii.
404); while the phrase t6 ■Kvevfia tov deov is comparatively rare, it
occurs several times. In Acts i. 5, 8 it is said, as in the midrash
quoted above, that in the Messianic time the Holy Spirit will be
poured out upon every one, and in Acts ii. 16 et seq. Peter states
that Joel's prophecy regarding the Holy Spirit has been fulfilled. "
While Peter yet spake these words, the Holy Ghost fell on all them
which heard the word. And they of the circumcision which believed
were astonished, as many as came with Peter, because that on the
Gentiles also was poured out the gift of the Holy Ghost. For they
heard them speak with tongues, and magnify God " (ib. X. 44-46).
Luke also says (Luke xi. 13) that God gives the Holy Spirit to those
that ask Him. The phrase " joy of the Holy Ghost " (I Thess. i. 6)
also recalls the Midrash sentence quoted above referring to the
contrast between the clean and the unclean spirit (Mark iii. 30). The
inspiration of the Biblical writers is acknowledged in the same way as
in rabbinical literature (Matt. xxii. 43; Mark xii. 36; II Peter i. 31).
Hence the conception of the Holy Spirit is derived from one and the
same source. But as the New Testament writers look upon the
Messiah, who is actually identified with the Holy Spirit, as having
arrived, their view assumes a form fundamentally different from that
of the Jewish view in certain respects ; i.e., as regards: (1) the
conception and birth of the Messiah through the Holy Spirit (Matt. i.
18 et seg. ; Luke i. 35; John iii. 5-8) ; (2) the speaking in different
tongues (" glossnlalia " ; Acts ii. et passim) : (3) the materialistic
view of the Holy Spirit, evidenced in the idea that it may be
communicated by means of the breath (e.g., John xx. 22); and (4)
the strongly developed view of the personality of the Holy Spirit
(comp., for example, Matt. xii. 82; Acts v. 3; I Cor. iii. 16; Eph. ii. 33;
I Peter ii. 5; Gospel to the Hebrews, quoted in
Holzmauu Homicide THE JEWISH ENCYCLOPEDIA 450
Hastings, "Diet. Bible," ii. 406, foot, et passim). In consequence of
these fundamental diflferences many points of the Christian
conception of the Holy Spirit have remained obscure, at least to the
iminitiated. It Is noteworthy tliat the Holy Spirit is less frequently
referred to in the Apocrypha and by the Hellenistic Jewish writers;
and In this circumstance leads to the conclutlie Apoc- sion that the
conception of the Holy rypha. Spirit was not prominent in the
intellectual life of the Jewish people, especially in the Diaspora. In I
Mace. iv. 45, xiv. 41 prophecy is referred to as something long since
passed. Wisdom ix. 17 refers to the Holy Spirit which God sends
down from heaven, whereby His behests are recognized. The
discipline of the Holy Spirit preserves from deceit {ib. 1. 5 ; comp.
ib. vii. 21-26). It is said in the Psalms of Solomon, xvii. 42, in
reference to the Messiah, the son of David: "he is mighty in the Holy
Spirit " ; and in Susanna, 45, that "God raised up the Holy Spirit of a
youth, whose name was Daniel." Josephus ("Contra Ap." i. 8)
expresses the same view in regard to prophetic inspiration that is
found in rabbinical literature (comp. Jew. Encyc. iii. 147b, s.v. Bible
Canon; Josephus, "Ant." iv. 6, § 5; vi. 8, § 2; also Sifre, Deut. 305;
Ber. 31b, above; Gen. R. Ixx. 8, Ixxv. 5; Lev. R. vi. ; Deut. R. vi. —
the Holy Spirit defending Israel before God ; Eccl. R. vii. 23 ; Pirke R.
El. xxxvii., beginning). See also HoBANNA; Inspikation; Okdination ;
Tabernacles, Feast of. Bibliography: F. Weber, JUdische TheoloQie, 2d
ed.,pp. 80 €t seQ., 190 efc seq., and Index, s.v. Qei^U Leipsic, 1897
; HerzoK-Hauck, ReaC-Eneyc. 3d ed., vi. 444-450 (with full
bibliography) ; Hastings, Diet. Bible, ill. 402-411 ; Baf her, ^g. Tan.
passim ; Idem, Ag. PaX. Amor, passim ; E. A. Abbot, From Letter to
Spirit, eh. vll. et passim, London, 1903; E. Sokolowsky, Die Begriffe
Oeiat una Deben bet Pautitg, G6ttingen, 19(6 ; H. Weinel, Die
Wirkungen des Oeistes und der Oeister (his quotations [pp. 81, 131,
l(i4, 190] from Christian writers are Interesting from a Jewish point
of view). J. L. B. HOIiZMANN, MICHAEL: Austrian historian of
literature; born at Slavaten, Moravia, June 31, 1860; studied at
Lemberg, Vienna, and Berlin (Ph. D. 1888). Since 1891 he has been
Welcome to our website – the perfect destination for book lovers and
knowledge seekers. We believe that every book holds a new world,
offering opportunities for learning, discovery, and personal growth.
That’s why we are dedicated to bringing you a diverse collection of
books, ranging from classic literature and specialized publications to
self-development guides and children's books.
[Link]