There is a prevailing mis-understanding among people fresh to the market that you can buy and sell as much as you want at the "market price." This is false. You are buying and selling from real people or algorithms that believe they can scalp your order. The idealized scenario is that GME rallies, Melvin covers, and everyone at reddit gets out at the top. This represents a misunderstanding of market mechanics. Melvin will cover before we truly know it, and the crash will happen as quick as the rally.
So with recent events, you must ask yourself:
Who is Your Counterparty?
Nothing is a sure bet. How confident are you that your counterparty is who you think it is? Thousands of redditors & new traders beyond have been buying stocks fully confident that Melvin Capital hasn't exited their trade. This is also supported by some analysis provided by two different firms, although their estimates differ some amount. Confounded in this is the interpretation of the data: Does this include market makers and dealers that are short stock but covered with calls or options deltas? Is their information fully accurate in an event the likes of which has never happened? It's tough to know for sure.
Know Everyone's Hand
Your guess on how much they've covered and when they covered has a massive effect on how you perceive the value of this trade. Buying if you think Melvin has $10b notional to cover is a much better bet than if they only have $2b to cover. You also have to consider how much notional the rest of the market has bought in anticipation of a squeeze. The difference between the two represents your effective edge.
Remember, we don't actually know Melvin's current position. We don't know what's going on behind closed doors. We only know the hand they're showing us via media. Has their clearing firm taken over? Has a much bigger collection of firms absorbed the position? Have they been buying since Monday? Have they covered and have new funds entered the space at a much better level?
You are fighting Goliath at a poker table in the city of Gath. The pot is worth $25 billion dollars. Ken Griffin has never lost. Melvin's prime brokers Morgan Stanley, Goldman Sachs, Deutsche are not used to losing (well, Deutsche is). They will do whatever it takes to take the pot from you and leave you holding the bag. They will not blink twice because there is a lot of fucking money on the line.
Know What Can Go Wrong
Nobody could have guessed everything that happened this week. Prepare yourself for the unexpected. Your brokerage will undoubtedly close out your position at the worst possible time. The stock could be halted for days. You could be assigned on ITM options. Your stock could get delisted. Your stock may get diluted.
Only Spend What You're Willing to Lose
This one is self explanatory. Your investment could go to zero. Even if you think you make money on every trade, if your bet size is 100%, the long term value of your portfolio is zero.
Don't Take Out Loans on Emotional Capital
If you are new, you really don't know the gut-wrenching, stomach-turning feeling of seeing the possibility of your net liquidity hitting zero or negative. It fucking sucks. You just know the highs. You're buying along the speculative frenzy and frantic rallies, wrapped in anti-billionaire & pro-underdog themes. It may even feel good to think that a guy who cut his teeth at a firm notorious for an insider trading scandal is getting his comeuppance. We love the feeling. If you are fully invested financially & emotionally, you are completely overleveraged and will pay the price. Make feeling good your goal, and set limits that you can stomach.
There are several feel-good stories of people making life-changing money to pay off their student loans or their family members' surgeries. Please think twice about this, and only spend what you can afford to lose. If placing a bet makes the difference between your pet living or dying, you may have a gambling problem. These were success stories because they got in at a much better level and could have had a much sadder ending.
Secondly, don't take it personal. There are people on the other side of your trades, your brokerage support line, the subreddit, the media. They are all playing their own hand to the best of their knowledge. It's easy to blame a broker, yell at their support desk, hate-tweet at a company, or even rage-text that guy you know who develops APIs at ETrade. A lot of people across the industry are rooting for you. Fuck, even Ted Cruz and AOC are rooting for you, because this transcends politics. If you're mad at Melvin Capital or Ken Griffin or the guys who crashed the economy in 2008, keep it that way. They will try and misdirect your anger in every single direction: brokerages, the media, and reddit. If your enemies are a few guys at the top holding a $25b short position and moving levers, keep it that way.
Thirdly, if you don't want to be a human being for the sake of the person on the other side, be a human being for your wallet's sake. You make better financial decisions in the absence of emotions.
submitted by This was written for a different group /stocks it got deleted so hopefully this time it works !
Disclaimer
I dont want to sell you or recommend anything ! Just my expierence and little help so enjoy. If you want to ask me anything feel free, I try so answer everything.
This article is meant to be a small guide that helps you to find your way. Its based on my experience and knowledge, I gained throughout the years. Iam by far no professional. Iam just a guy who loves to invest. If you are new and have few grands to invest this article might help you.
My motivation to write this article was because when I turned 20 I got a small loan of 1 milli.... just few grands from my parents plus the savings I made from working. For me it was clear that I want to invest them. I always liked the idea making money and not really working for it! (Spoiler its kinda true and kinda not)
So I sum up few steps which will helped me to orientate and maybe help you to make your first investement
Step one 1. Where I can Invest?! You can basicly invest in everything. They are infinite options but I just cover up few topics.
They are 5 investments I would like to adress.
- Stocks.
- Real estate
- Options
- Start-ups
- Krypto n+1. art, old cars, drugs?! (Don’t do or sell drugs pls!)
Stocks (my fav.) I love stocks. I love understanding what the company’s plans are and where they are heading.
They are 3 different types of investment strategies.
- Short term (daily) That’s usually daily trading. That means you invest and sell on a daily basis. If your not a expert it can frustrating and the chances that you will lose is high. Many people forget that you have to pay taxes and fees so even if you for example invest 1.000 and sell for 1.050 within 20 min. You will have to pay some fees and taxes and with luck, you are where you started. It only makes sense when you invest a lot, otherwise it makes no sense and to be honest I don’t know any person which makes profit with it.
Difficulty: Hard
Stress Lvl: High
Risk: Medium/High
Profit: Usualy bad
Investement: Medium
- Mid term (6month – 1 year+) You buy some stocks for a longer period of time and hope it will go up soon.
This investment is much easier and less risky than short term. You see a stock going up and up so you invest 5k and hope you can ride a little on this upwards trend. Its fairly easy but you have to keep an eye on the market. A good example is VW it dropped because it has some Image problems. Thats a chance to invest! It will most likely to recover because its the biggest automarker in the world and it did. It happend 1000 times and normaly big companies dont fail they are exception but without risk you dont get anywhere
Difficulty: Medium
Stress: Medium
Risk: Medium
Profit: Good
Investment: Low
- Long term ( 1-2years – 10 years+) Means you want to invest for a long time you are not only interested in making a quick buck but making a slow and steady progress. You are not interested if the stock goes up or down but you are more interested how much divendend they pay. Usualy they go up very slowly but steady. A good example for this type of stock is Royal Dutch (shell) it has ist up and downs but compared to other stocks ist stable. The dividend is 6% which is insanly good no other big company will pay you that every year. You invest 10.000€ and get every year 600€ which means a holiday for free. Also the work is very little, you only have to check the stocks every few weeks/month You wont get rich but its better than having it in the bank.
Difficulty: Easy
Stress: Low
Risk: Low
Profit: Low
Investment: Low-Medium
Before you invest check the company read the news and get a good overview. I have to admit Iam a fanboy at heart. When a stock of one of my fav. company’s has potential and it does make sense to invest it feels like buying tickets for my favorite Rockband. You support and cheer them on and if they grow you grow with them. BUUUUUUT don’t get my wrong never buy stocks just because you like the company or they have a cool name.
All in all Stocks are a great Investment!
Real Estate
If you want to invest in houses it’s a very save and profitable investment but it depends on your area and country you are coming from. In Germany most objects are overpriced right now so it wouldnt make any sense to buy some. In generell the more money you have the better. They will will be much more people who can afford an cheap flat/condo than the other way around. So expensive objects are better! The optimum is always a shitty apartment in a very good area. Also buying objects in bad areas cause lots of trouble with tenant. Crazy families who refuse to pay, messy people etc. this can end in a stressful situation so beware of that.
If you are already rich af than buy propreties
Example
I went once to an auction and most apartments are sold for double the estimated value. It would take ages (20+ years) to get your investment back. So beware of your market situation.
Difficulty: Easy
Stress: Usualy low/medium
Risk: Low
Profit: Medium
Investment: High
Options
Options are basicly betting that a stock with go up or down. You can bet on nearly everything. You can make lot of money very quick and lose everything even quicker. For me option trading is gambling with few extra steps. The difference is you can lose more than you invest. They are cases where people invest 1000€ and lose -120.000€ because suddelny the market changed.
If you have gambling problems and tendency to gamble this is absolutly not for you. You can see here (in the forum) lots of bad examples where people going full YOLO on something and lose a ton of money. They save up a little, invest in something even more risky and lose again.
I know a friend who makes good money from it but he has a clear head and read many books about this topic he uses software to analyse the situation and everything and he admits that sometimes he doesnt understand what happend. Of course options are not the devils tool but I like to be the voice against it. The truth is in the middle.
Iam a person who likes to understand what am I doing. After reading and learning about it, for more than a year I was more confused than before. It is probably because Iam to stupid for it, so I gave it up and moved on. Options are not for me
Difficulty: very hard (at least for me)
Stress: high
Risk: low - very risky
Profit: It can be everything
Investment: low
- Start-ups
Start-ups are also a great business opportunity. I was lucky enough to invest once a little bit into a upcoming company from my firend. He showed me his company and the plans for the future. I already helped him with few shows and stuff so I knew how everything worked.
The biggest bullshit I ever saw are the analyse prediction of the future sales. During the last few years I saw few of them and they all predicted that the company will make an absurd amount of money. It looked like high cool project all shiny and with big numbers. To be honest I dont even know who pay these people to make such bullshit predictions, seriously.
(as you can see I love talking from my life so forgive me my dear)
Long story short I still invested because I understood their model. They existed and already made great progress. I made 50% profit in 3 years. I am still very happy and greatful to had such good chance to invest and would do it again.
They biggest question is how do I find such chances ?
Tell people you are intersted to invest maybe a friend of you will start an company and you can invest or help you to find such a opprtunity. I went to many start up meetings and talk about a lot with my friends. They dont want to hear it but I tell them anyway and if there is a chance they will call me.
Few Tipps:
- Look for already existing companys
- Most companys give you a very good inside look before you invest! If not watch out they hide something.
- Try to understand what they are doing and where they are heading
- Look what the will offer you for your money!
Difficulty: Medium/hard
Stress: Medium/low
Risk: Medium/High
Profit: Good/Very good
Investment: From Low to high
- Krypto
Boy oh boy where to start. I heard to many experts saying yeah krypto thats future boyyyyyy I invested everything BOYYYYYYY and in few month I will be rich BOIIIIII. I heard this story so often that Iam allgeric to it now. This irregulated mess based purly on speculations wasnt anything form me. I didnt invest a cent into it and had lots of chances when bitcoin was 300-500 €. It didnt simply fit into my portfolio. It had no function for me. You could pay for your drugs in the deep web and some hipster pizzerias accepted it but in generell it had no function. So investing into kryptos is just speclutions it has no real fundation what I like.
My friends who invested early made a ton of money but all the people on the Hypetrain crashed.
Difficulty: I dont know
Stress: Depends how much storys you make about it on Instagra´m
Risk: Over 9000
Profit: It can be everything from super high to low in just few days
Investment: What ever you want, if this is still to expensive for you, make your own coin and hope some Idiot buys it!
Now you know my knowledge ehh more like my opionen on few things now its time for……. Step. 2. Get a rough overview
Back than I didn’t know where to start so I asked everybody for advice like parents, friends , my parents friends, banks, forums, news etc. and got very different results.
Friends and family can be a good source of information how they did it. Of course often investments are impossible to repeat because they are 20 years ago but they can give some good advice. Its nice to hear few cool stories.
Example
Royal Dutch shell hast wo different stocks. One based in england (B) one Dutch version (A) (explained very simple, not 100% accurate). If you purchase Royal Dutch (A) you have to pay a 15% withholding tax that you wouldnt when you buy Royal Dutch (B).
Banks
Banks are terrible to ask. I always had shitty experience. The lured me into meetings, only to sell some shitty investment models from which they make some good money of me or some stupid insurence. They are not interested in your loses or profits they are interested to sell you the next stupid investement from which the make money. They never keep their promises and if you loose they will cheer you up and show their new hot investement and so on and so on until you loose and they drop you.
My mom works kind of in the finance sector and you wont believe home money older people lost ton of money because of this. I also found few very shady investements opportunities who would be illegal but I wont get into detail cause I dont have 100% proof for it and I also dont want to get in any trouble. As you can see Iam not big fan oft them and do not recommend!
News/charts/indexes/Forums
For me charts & news works the best. It’s easily so see what’s going on and gives you a great overview. The chart showed that a stock dropped 5%?! Good! Read the news/forums and find out what is going on! It’s that easy you don’t need 15 monitors and crazy software to understand what is happening. Dont make it to complicated! Have an easy overview about the market which you would like to invest.
Example
My parents invested around a year ago alot in Tesla. It was before Model 3 was released. Tesla had no expierence in mass production and it was clear (at least to me) that they wont have an easy start. They still made no profit and it was the first step to play with the big boys. Back than the Tesla stock was way over 300€ and it was based a lot on speculation and hype. It couldnt live up to they hype and dropped ≈ 30% - 35%.
- Few points & strategies
No Emotions
Never ever let your emotions guide you. Stocks are not based on a stomach feeling or any other emotion. Dont invest just because you like Elon Musk or Apple or anything. If I have a the chance to invest into one because the timing is right. Always make sure you know what you are doing. When it can wait a day, sleep a night about it and be sober! You can get sucked up into this world you will start giving a shit if you lose one grand and start digging deeper and deeper and lose sense the value of it. Stay sober and now when you have to stop.
Making losses
It will happend and dont freak out !
They are two options how to handle it and it depends on few things.
- Sell them, you see the ship is sinking and their no possibility you can save it than sell it, It hurts but better early than it is to late. Or you find a better possibility to invest for example a start up than its also fine.
- Keep it! Turning a Short/Mid-term investement into a long-term investement. Check first if the company will recover from it. For example the VW stocks dropped a lot due it scandal few years ago but it was clear that they will not go bankrupt so after a while they recover from it. Technically the market will grow infinite so after every crash they reach new heights, if you can wait that long the chances are high that you will make some profit and do not lose any money. Maybe the profit will be small but better than losing everything.
Diversity
Dont put all your eggs in one basket but also dont but every egg in a different basket. Have a good mix that you can still have an overview about your investment. Dont depend on one investment something bad can always happend. Having a good mix is important some investments will go up and few will go down. Its rearly that everything will crash (expect crises). So you can sell the good one and keep the bad ones until they go up.
Scams
Online
Stick to the basics! They are a ton of scammers online who want to show you a way to make fast money. Its mostly some MLM (multi level markting) aka Pryamide sheme, some buying and reselling some stuff from China or some weird option trading platform where pay in and your money is gone in 5 min without any trace o fit (no chance getting it back)! The Instagram advertisment is so ridiculous and I feel stupid mentioning it but hey if it wouldnt work they wouldnt exist. So please dont be this guy….
Offline
I really wanted to invest and have an own start-up. I met many people and visited countless seminars. Few of them offered me to invest but it was a mostly a mess. Onced I got fooled. A friend and I meet a person who had a start up for social media. We had some meetings restaurant he paid everything for us and looked very legit. I worked 3-4 month in this start up 3-4 hours a day, even on weekends for free. Only later to find out I was the only one working in it. (My friend pulled out very early cause he wanted to focus on his PhD) They rest oft he Team did absolute nothing! All the money the company generated was based on my work. They didnt make a lot of money but around 600-800€ a month. The founder spend all the money on vacation and stuff. I never got anything. They wanted to sell me 10% of the company for 15.000€. I always said I need more inside infos, which of course I never got. So I pulled out and they went mad and threaten me to sue me. I feel to this day ashamed that I trusted them and didnt saw it.
If you want get into something like this make a contract dont rely on handshakes people will tell you everything and wont keep it. I learned it the hard way
Be open minded
I met enough people who dont want to share with me their portfolio because they are scared that I will steal something from them. Its stupid! Talk to as many people als possible about your investment. Some amazing things can happend. I meet to many great people because of that and with some I share a 5+ years long friendship maybe we dont share the same ideas but I leanred a lot of it and sometimes I made some profit because of it! Be open !
Prediction & graphic lines
When I did my first Investment (it was gold) I read every morning every article about it I could for at least a solid year. Every monring 20 min Thats rouhly 120 hours. Thats time I will never get back. It was wasted time. The news/articels predicted everything. It was a rollercoaster. I believed it in the beginning because it was new to me. It really messed me up and I spend way to much time overthinking. Its fine to see a prediction but the more extreme it is the more it will never happend.
Also the trendlines are mostly worthless. I read so many people talking about the 50 day trendline or the 200 day trendline. It only idicates if a stock goes up or down but people interepte everything into it. “Oh yeah you can see the restience at 12.50 if it will drop below everbody will sell“. The next day it dropped and nothing happend. Dont believe everything in the internet. (lol)
Keep it simple
Dont make it to complicated you can have the best infos and charts and everything in the world and still lose everything. So dont make it to hard for yourself.
THE MOST IMPORTANT ADVICE
No depts
Dont take a credit just because you know a great investment. No matter how much you could earn DO NOT TAKE A CREDIT. This can not only ruin you financily but also your family and your whole life. This is no joke! Make no depts.
DO NOT MAKE FUCKING DEBTS!
My Strategy
It is a mixture of long term and mid-term stock investments. Its very easy I invested in:
Before I buy some
- Royal Dutch because of the high dividend
- Deutsche Bank when the hit nearly a all time low hoping to recover (still hoping ☹ )
- Lufthansa because they bought few airlines and hopefully will grow but its not (thanks Greta !)
- Tesla because they are low and made some good deals for the future. (update, sold it and made 30-35% in 6 weeks)
Am I rich or making a lot of money?! Hell no! But Iam making enough to pay for my holidays and few extras. I am patient enough to sit out bad times. I never sold anything with loose and I want to keep it that way. I like having a clean record.
Thanks for reading and feel free to ask my everything.
submitted by Juniper Publishers- Journal of Physical Fitness, Medicine & Treatment in Sports Atypic transnational entertainment and entertainment enterprise (Edtee), governing activity or “Punta” of the world economy and scenario of structural inequality in the distribution of medals-champions and the economic benefits that it produces.
Established in 1968-1981 and consolidated between 1982-2017, the globalization of sport is its conversion into EDTEE, which works with the logic and dynamics of any transnational and its objective is to produce a profitable, daily and massive show:
“In 2006, it moved US $213 billion in the US and generated 2 and 7 times more profits than the automotive and film industries, respectively ... Globally, in 2014: Generated 1% of GDP ... Its value was 1.5 billion US $, ... equivalent to US exports in one year ... In June 2015, in Europe it generated 1.76% of gross value added and 2.12% of employment and it was estimated that the multiplier effect was 1.22% for the set of the economy ... Worldwide in 2015, accounting for its infrastructure, goods, licenses and events has a value of 643-689,000 million US $, 1% of world GDP ... “ [1].
Its atipicity as a transnational is given by:
a) Its organization-management.
b) Nature of the work force.
c) It is present all over the world.
d) Monopolize the total production of the show.
e) It lacks a centralized power.
a. Units of Organization and Management of the Sports Show: World Sports Organization (WSO) or sports government, headed by the International Olympic Committee (IOC) and FIFA, whose main events are:
b. Olympic Games (0G): Organized-managed by the IOC, which made its commercialization with the “Sponsorship Programs, initiated in the 1988 OG” (Samaranch 2002: 85)? The main sponsors are the World Olympic Partners, who are associated by 3-4 OG, use their image worldwide and are franchises in the Villa.
Olympic the other sponsors have the same rights, but can only operate in the host country and the contract lasts four years. In 2016 they were:
“World Olympic Partners: Cocacola; Atos Origin; General Electric; McDonalds; Omega; Panasonic; Samsung; Visa, Procter Gamble; Dow; Bridgestone. Official Partners: Bradesco; Bradesco Seguros; Correios; N = T; Clear; Embratel; Nissan Official Contributors: Aliansce Shopping Centers; Apex; CISCO; Estàcio; EY; Balloon;. Sadia; Qualy; SKQL; Latam Airlines and Travel: 361º. Suppliers I: Airbnb; AC; CEG; Dica do chef; Balloon; EF Education; Eventim; GREE; ISDS; Karcher; Komeco; Locate Manpowergroup; Microsoft; Mondo; Nielsen; NIKE; OFF !; RGS; Sapore; SEG Gymnastics; Symantec; Technogym; 3 Corações; Riogaleão. Suppliers II: Bauerfeind; Casa da Moeda; EMC; Hospital dos Olhos; Osterscope”.
Simultaneously, the IOC commercialized the transmission rights, in millions of US $:
“In August 1995 the ... American NBC ... committed to pay 1,250 for the rights in the USA of the OG 2000 ... and the OG Invierno 2002 .... Then he proposed: 2,300 for OG 2004-2008 and OG Winter 2006 ... (Jennings, 1996: 279). “Jacques Rogge, President of the IOC between 2001-2013, in ... the financial report before the 2012 General Assembly, pointed out that the IOC already secured 3,600 in TV rights for the Winter W in 2014 and the 2016 OG; He indicated that the goal is to exceed 4,000, more than the 3,900 that they raised with the Winter 2010 and the 2012 OG. For the winter 2018 and the OG 2020, the IOC secured 2,600 ... The main TV partner is NBC, which bought the rights for transmission in the US of 4 Olympics until 2020 by ... 4.380” [2].
World Cup: Organized-managed by FIFA, whose links with companies evolved to the Official Licensing Program in the World Cups (1994). Established the Sponsorship Program 2007- 2014 and in the 2014 World Cup the sponsors were:”Partners: Coca-Cola; Adidas; Sony; Visa; Hyundai and Kia; Fly Emirates... Exclusive sponsors: Budweiser, Castrol, Continental, Johnson & Johnson, McDonald’s, Moy park, Oi and Yingli Solar... National promoters: ApexBrasil, Garoto, Liberty Seguros, Banco Itaú and Wiseup”.
The importance of broadcasting rights was recognized by FIFA in 2004:
“Revenues have not stopped growing. Correspond at the same time the rights of television broadcast... “(Eisenberg, Lanfranchi, Mason and Wahl, 2004: 248). “Until October 2011 the total amount agreed for the period 2015-2022 exceeded US $ 1,850 million... FIFA granted sales representation to Infront Sports & Media in Asia ... Australia: Extension of the contract with SBS. Canada: Rights granted to Bell Media (CTV / TSN / RDS). Caribbean: Extension of the contract with IMC (SportsMax)”.
FIFA’s revenues are specified in its 2011-2014 Financial Report, in millions of US $:
“With income of 5,718 and expenses of 5,380, a positive result of 338 was registered, income increased in relation to 2007-2010 due to the increase in sales of commercialization and transmission rights and the benefits of ticket sales rights that in Previous cycles had been assigned to the Local Organizing Committee, reserves were increased..., reached the 1,523 to the 31-12-2014... The total income is broken down as follows: Events 5,137: 4,308 of the 2014 World Cup (TV Rights: 2,428; Marketing rights: 1,580; Commercialization of rights for corporate hospitality preferential services: 185; Licensing: 115) and 829 for other events... Operating income 271... Financial income 310....
The main event that they organize-manage are the European Football Championships, endorsed by the respective National and European Federations:
“In 2001, Manchester United of England was the most expensive club (1,400 million US $) and was the first to quote on the Stock Exchange. In Spain at the end of the 20th century, football contributed 1% of GDP and, in 1999, in Italy it was the twelfth economic sector “(Altuve [2]: 113 / 115-116). Starting the 21st century, Real Madrid is a Club model: “sponsored in 2008-2009 by Adidas, Audi, Bwin, Mahou Beers, Coca-Cola, Community of Madrid-madrid.org, Rexona For Men, San Miguel, Sanitas, Solán de Cabras and Solaria, is applying a management model that combines the social (UNICEF ambassador) and marketing with the aim of enhancing the exploitation of its brand, transforming its fans into customers”.
The Professional League of Spain promotes globalizing marketing initiatives:
“He installed his first office in Beijing... in 2014, he announced that at the end of 2015 he would open the one in Johannesburg... and New York and Shanghai... With Pepsi Egypt, in October- November 2015; in the summer of 2015... With an organization sponsored by Nike, in the USA...”.
It is appropriate to highlight -in millions US $ -which:
a) 5,525.52 is the income of the 20 Soccer Clubs with the highest income in 2008-2009: Germany, France, Italy, England and Spain.
b) 12,602.2 is the value of the 10 Most Expensive Clubs in 2010: 7 of the USA (6 American football or NFL and 1 baseball), 2 of England and 1 Spain (soccer).
c) 2.072 is the value of the 10 Most Valuable Club Brands in 2010: 51.09% of the value are from 5 football clubs in Europe (2 from England, 2 from Spain and 1 Germany) and the remaining 48.91% to USA (3 of baseball and 2 of NFL) (Altuve, 2018: 104-106 / 108).
The main events that they organize-manage are the Vueltas de Ciclismo. The annual Tours of France will be considered:
Organized by Amaury Sport Organization (ASO), a company of the French Group Philippe Amaury Publications, which... in 2010 organized 21 events... Together with ASO guarantee the success of the Tours the employer organization of the participating professional clubs (AIGCP), the Union of International Cycling and French Cycling Federation, who endorse it by the ODM. In 2005, an agreement was reached between ASO and the AIGCP that included the Tours editions from 2005 to 2008 “(Altuve, 2018: 124-125).
In 2009, the budget was approximately US $ 139 million, financed: 10% for rights paid by the cities-stage; Eurovision, France 2, France 3 and France 4 paid 50% for audiovisual rights; 40% of sponsorship and advertising rights. The advertising caravan was an important advertising tool:
“It covers 20 km, goes ahead of the competition with 160 vehicles, 600 caravans, 33 brands represented, 16 million gifts, ... and merits an investment between 278,000-695,000 US $ .... Media coverage included: 186 countries; ... with 118 TV channels; ... 650 media ...; as for the Internet website, it received six million visitors “(Altuve, 2018: 126).
The main event that they organize-manage is the annual Formula One (F1), property of Liberty Media, who bought the F1 for 4,400 million US $ on 07-09-16. The management of F1 is exercised through the Formula One Group, whose main sources of income are:
“TV broadcast is the main form ... according to the English newspaper Autosport can reach more than 300 million US $ and were sold in 67 countries for the 2010 season ... By radio: They have increased, in the US since 25-05 -08- the races were available through SIRIUS 125 of SIRIUS Satellite Radio company that for 2008 had more than 130 channels, was the Partner ... by Official Satellite of the NFL, NBA and NHL. The sponsors in 2010 were Allianz, DHL, the bank. UBS, GH Mumm and LG Electronics, Inc, which between 2009-2013 acquired exclusive titles from Global and Technological Partners and ... Official Partner for Consumer Electronics, Mobile Telephony and Data Processing “(Altuve, 2018: 135).
The economic and media success of F1, measured in millions of US dollars, is resounding:
“Between 1979-2004 ... it showed profits valued at 3,600 ...; in 2007 it had 597 million viewers, with 11,183 hours of retransmission in 188 countries, of which 5,169 hours (47%) were live and direct; in 2010, TV rights were sold to 67 countries ... As of 2006, it abandoned cigarette advertising, but this did not affect the business because new sponsors were incorporated, to the point that in 2007 it mobilized around 13.6 thousand million US $ per year”.
Professional whose job is to prepare and compete. Their types of employment relationship are:
a) It combines the work of representation of your country in the ODM competencies with that performed in one of these scenarios: Professional Clubs whose events endorse the MDG; transnational events endorsed by the MDG; Professional Clubs or transnational events endorsed by the MDG, with the mediation of the State: Cuba case.
b) Work on competitions organized by independent Transnationals of the MDG.
The one hundred best sportsmen-competitors paid in 2015: earned 3,200 million US $, 17% more than in 2014; 62 are American (27 MLB baseball); they come from 10 sports disciplines; and 2 are women. In millions of US $ income (including salaries / prizes and sponsorship), the sport discipline and the country of the top 10 are presented: Floyd May weather (300-Boxing-USA). Manny Pacquiao (160-Boxing-Philippines). Cristiano Ronaldo (79.6-Soccer of Europe- Portugal). Lionel Messi (73,8-Soccer of Europe-Argentina). Roger Federer (67-Tennis Open-Switzerland). LeBron James (64.8-NBA Basketball-USA). Kevin Durant (54.1-NBA Basketball-USA). Phil Mickelson (50,8- Golf Open-USA). Tiger Woods (50.6-Open Golf- USA). Kobe Bryant (49.5-NBA Basketball-USA) [3].
They buy:
a) The organizers-managers of the show, the right to use the symbols and the logo of the events in the advertising of their products.
b) The media spaces to spread their associated advertising and identified with the symbols and logos of the show.
They broadcast the show, buy the transmission rights to the organizers-managers and sell the spaces to the sponsors for their publicity. Since the 90s of the twentieth century, they have been acting simultaneously as organizers-managers and disseminators of the show.
They provide the products used by competitors: instruments (balls, balls, snowshoes, garrochas, javelins, bicycles, etc.) and on their bodies (shoes and clothing); and sponsor events and athlete-competitors. At the close of fiscal year 31-05-2015, in millions of US dollars: the 10 leading companies (from the US and Europe) had sales of 99,315, led by Nike (USA) and Adidas (Germany) with 30,601 and 19,113, which obtained net profit 3,273 and 723.2, respectively [4].
It is the destiny of the show. It is the basis of the operation of EDTEE, whose fundamental objective is the conversion of all the inhabitants of the planet into fanatics of sport, that is, spectators who internalize the advertising messages issued during the events and become compulsive consumers of goods and services. Of the diffused brands.
Regardless of the types of governments and their politicalideological orientation, the State through public policy embodied in a legal-legal norm and an administrative-organizational structure (ministries, institutes, secretariats, etc.) with programprojects and budget, has the following functions in the EDTEE [5]:
Adapt the Participation of the Country to the Organizational Nature of the Show: When the organizermanager is the ODM, it arranges, prepares and guarantees the participation of its national team in the event. If the organizersmanagers are Transnational Professional Clubs or transnational companies, support the events and contribute to their success.
Produce and Reproduce the Sporting Ideology, Incorporating it into its Ideological Baggage and Legitimizing Itself, Making Sport One of its Ideological Apparatuses: Regardless of the result of the country’s participation (win or lose) in events, the State will legitimate with the support and promotion that makes the sport through public policy, thus operating the process of conversion of sport into an ideological apparatus. Obviously, the legitimacy of the State increases when the country obtains victories - by winning competitions and / or organizing events - that are identified with state management. In addition, the State extends the sports ideology to the rest of the social scenarios.
Financing, Disseminating the Sports Ideology, Exercising Violence and Creating the Conditions that Guarantee the Success of the Show in Its Territory (being the venue): The operational part of the shows is the responsibility of the National Organizing Committee formed by the host State , private organizations and the national instance of the ODM (in the OG and World Cup are the Olympic Committee and the National Federation) that works with its international instance, which is the highest authority of the event, which in the case of the It is the IOC and in the World Cup it is FIFA. The IOC and FIFA have reinforced and hold absolute power both events and the funding has been transferred to the State:
“In September 1995, the IOC announced that as of 2004, the share of television rights granted to Olympic city centers would fall from 60% to 49%, that is, the revenues of the National Organizing Committee will be reduced ... FIFA announced on 03- 23-17 that will eliminate the National Organizing Committees ... and will take total control of the organization of the World Cups from 2026 to generate more income, minimize costs and be more effective ... “(Diario Peru 21: 03- 04-17; Altuve, 2018: 178- 179). “The London 2012 OG cost more than US $ 17,500 million, of which the State financed 83.48% (US $ 14,610 million)” (America, economy, economy, markets and finances: 19-12-12); In the 2014 Soccer World Cup and the 2016 OG of Brazil, the investment was, mainly, public: “It was - according to the State - 21 billion US $. For Zimbalist it is between 35-40 billion US $. The final cost has not been specified ..., but ... it is much higher than the state appraisals because investment is missing ...: 1) To compete and win the venue of the events ... 2) At the opening and closing ceremonies ... 3) In the overpricing in the construction and remodeling of the infrastructure “ [6].
The State produces and reproduces the sports ideology highlighting the advantages and benefits of hosting a successful event, guaranteed by the investments made and exercising symbolic and physical violence to ensure the normal performance of the show. Obtaining certain remunerations through taxes, by the economic impact generated, etc.
The communication, automotive and energy industries participate in EDTEE, as can be seen (Altuve: 2016 and 2018):
Olympic Games (OG): Among its main sponsors are: ATOS, General Electric, Panasonic and Samsung (communications) in the OG 2016, 2012 and 2008; Bridgestone (rubbers - automobile) at OG 2016; ACER and Lenovo (communications) in the OG 2012 and 2008. Sponsors of the 2012 OG: BMW (automotive); British Petroleum and British Telecom (energy: oil and gas) EDF Energy Électricité (energy: electricity).
Soccer World Cups: Among its main sponsors are: Sony (communications) and South Korean Auto MC (automobile) in the 2014-2010 World Cups; Continental AG (automotive supplement), Hyundai (automobile) and Deutsche Telekom, Philips, Toshiba and Yahoo (communications) in the World Cup 2006. Exclusive sponsors of the 2010 World Cup: Continental AG (automotive); Castrol lubricants from British Petroleum (energy company), who was also a sponsor of the 2012 European Football Championship and the 2014 World Cup; MTN GROUP (communications), who in football has also sponsored the League of Africa, on 03-18-2010 signed a sponsorship agreement with the Manchester United Giants and was a sponsor of APOELFC Nicosia of Cyprus, in 2012; Satyam (communications) and Yingu Solar Energy (solar energy), who was the first Chinese company to sponsor the FIFA World Cups in 2010 and 2014, and in 2011 was the Official Premium Sponsor of FC Bayern Munich-Germany and the FC Bayern 2012 Youth Tournament.
Transnational Professional Clubs: In 2008-2009, Audi (automobiles) and Solaria (energy) were sponsors of Real Madrid. d) Tours of France and Giro d’Italia 2010. They were organized by Amaury Sport Organization and RCS Sport, owned, respectively, by Philippe Amaury Publications and RCS Media group (communications).
Formula One (F1): Since 07-09-2016 F1 is owned by Liberty Media (communications). In 2010 LG Electronics Inc (communications) was a global sponsor. The automotive is essential because it brings the cars of competition and participate as teams or teams. Following are presented-for 2010-five teams or teams with their owners:
a) Vodafone McLaren Mercedes: Vodafone (communications), Mclaren (automobile, etc.) and Mercedes (automotive).
b) Red Bull Renault: Red Bull and Renault (car).
c) Scuderìa Ferrari Marlboro: Ferrari (car).
d) Lotus F1 Racing: Malaysia Racing Team SDN BHD, belonging to Tune Group (communications) and Naza Group (automobile).
e) 75% of the Mercedes GP Petronas F1 Team belonged to Mercedes-Benz (automotive).
The concentration of power in sport begins with the regressive distribution of the medals-champions, emerging the International Division, that is, the specialization of a small group of countries to win and the vast majority specializing in losing.
a) Winners or Protagonists of the World Cups 1970- 2014: The protagonism is concentrated in Brazil, Federal Germany, Argentina, Italy, France and Spain, which have been the champions and occupied 19 of the 36 positions from 2nd to 4th place, and in much lesser degree, in the countries that occupied the other 17 semifinalist positions: 14 Europe; 2 America and 1 Asia. The specialists in losing are those attending the World Cups that did not reach the semifinals and the rest of the world that participated in the qualifiers.
b) Assignment of Quotas-Countries to the Continents and Contribution of Players from the Professional Clubs to the National Teams, in the 2014 World Cup: Europe had 13 (40.6%) quotas-countries and 190 of their Clubs contributed 563 (76, 4%) players, of which 176 were contributed by 17 Clubs from Germany, England, Italy and Spain; the rest of the world was assigned 19 (59.4%) quotas-countries and their Clubs contributed 171 (22.1%) players. America: 1) It had 9 countriesplaces (Brazil is included by venue) and the other 3 continents 10. 2) Their Clubs contributed 102 players and together Asia, Africa and Oceania 69 (ECA: 07-08-14). There is an international division with: Europe, led by Germany, Italy, Spain, France and England has prominence with the first places in the World Cups and the largest allocation of seats-countries, and their Clubs bring the largest number of players to the World Cup; America, in second place of countries-places, its protagonism is reduced to Brazil and Argentina and it was assigned the production of players (raw material) exportable to Europe that allows to guarantee the success of the spectacle of the Professional Clubs and the World Cup:
“They are the biggest exporters ... to the Clubs ...: With 20% in 2011 ...; in 2013 Argentina with 1,945 and Brazil with 944 headed the ranking; between January 2011 and June 2014, Brazil transferred 2,311 players, of which 1,311 (56.72%) went to Europe ...; in 2014, the Brazilians were protagonists in 1,493 operations ... followed by Argentina (801) ...; in 2015 the most transferred players are Brazilians with ... 512 ... Argentina with 254 ... is the second. The Professional Clubs of Europe endow the Worlds with most of the players: The World Cups are privileged scenarios ... where negotiable players are displayed for the competitions of the Professional Clubs and thus continue repeating the cycle indefinitely in which FIFA participates, who paid US $ 70 million to distribute an average of US $ 2,800 for each day a player was in the 2016 World Cup , shared between the current team and any other team for which he had played in the 2 years of the tie “ [7].
a) General: Winners are 15 (7.31%) countries (Group of Nine, Ukraine, Holland, Spain, Australia, South Korea and Cuba) who obtained 3,053 (66.35%) medals. Losers are the rest of the world, led by 92 (44.87%) countries WITHOUT medals and the following groups: 1) 39 (19.02%) countries (P) obtained 68 (1.47%) medals (M). 2) 38 P (18.53%) gained 508 (11.04%). 3) 11 P (5.36%) obtained 367 (7.97%). 4) 10 P (4.87%) gained 605 (13.14%).
b) Inter Continents: Medals won by Europe 2,357 (51.09%), America 926 (20.07%), Asia 874 (18.91%), Oceania 267 (5.78%) and Africa 177 (3, 81%).
c) Between Continents: Europe: Winners: 8 P (3.88%: Russia, Germany, England, France, Italy, Ukraine, Holland and Spain) earn 1,478 (32.03%). Losers: 41 P (19.91%) who won 879 (19.06%).
America: Winners: 3 P (1.46%: USA, Cuba and Brazil) get 710 (15.39%) M. Losers: 38 (18.44%) who won 216 (4.68%).
Asia: Winners: 3 P (1.46%: China, South Korea and Japan) earn 636 (13.78%) M. Losers: 42 (20.4%) P who won 238 (5.13%).
Oceania: Winners: 2 P (0.98%: Australia and New Zealand) earn 266 (5.76%) M. Losers: 15 countries (7.27%) that won 1 (0.02%).
Africa: Winners: 9 P (4.39%: Kenya, Ethiopia, South Africa, Nigeria, Morocco, Algeria, Egypt, Zimbabwe and Tunisia) earn 161 (3.49%) M. Losers: 44 (21.35%) P who won 16 (0.32%).
d) Interior of a Continent (Latin America and the Caribbean in America): Winners: 7 P (3.41%: Cuba, Brazil, Jamaica, Argentina, Mexico, Colombia and Trinidad and Tobago) earn 297 (6.45%) M. Losers: 32 countries (15.6%) that earned 36 (0.78%) “(Altuve, 2008: 214-217). In OG 2016 20 countries (9.8%) won 672 (68.99%) medals and 117 (57.35%) won NO; the Group of Nine obtained 489 (50.2%) and Latin America and the Caribbean won 67 (6.87%).
The International Division and concentration of power in sport is extended with its conversion into EDTEE and the deepening of the regressive distribution of the economic benefits produced. With fewer and fewer exceptions confirming the rule, the winning athletes-competitors come from a small group of countries led by the Group of Nine; If we add to this, the transnational companies that organize shows, sponsors, media and sporting goods, are the ones who appropriate the highest volumes of income produced by EDTEE and come from that group of countries, we are facing a competitive and economic cycle that begins and ends in the US, Europe, Japan and China, with an important appropriation of the benefits by the MDG. The public sports policy of these few national states with power in sport is identified and serves their interests and those of their transnational’s, while most of the states without or with little power, adapt their public policy to a foreign sports dynamic to your interests.
a) Sports as Producer-Player of Capitalist Ideology: The establishment of industrial capitalist society based on the principle of performance and cult of the body from a reasonably profitable perspective, materializes in the movement with the transformation -among others- of its ludic aspect, replaced by modern sport, conceived as a comparison of bodily performances to appoint champions, record records or obtain medals and trophies.
Modern sport is the result of industrial capitalism, it is a product of society where -for the first time in historyperformance becomes the central category, in the concept that guides, organizes, determines and serves as a reference for the functioning of the institutions. It arises in the late nineteenth and early twentieth century fulfilling an ideological function, because it produces and reproduces the ideas of performanceproductivity- profitability-linear and infinite progress, State- Nation, ideas-base of capitalist society, and is presented as a space social hierarchy and democratic differentiation, equality, fraternity, noble struggle, peace, fair competition, honesty, in opposition to the conflicts between the capitalist powers that led to the first (28-07-1914 to 11-11-1918) and second World War (01-09-1939 to 02-09-1945).
In globalization, the ideological function of sport has been broadened and perfected with the intervention of the media, producing and reproducing the ideas of:
a) To be a universal social space of absolute egalitarianism, in contrast to the aberrant differences in production, consumption and enjoyment of existing goods between nations and between social classes and serving as a justification for such inequalities.
b) The record-champion as a symbol and expression of progress and recognition of individual effort, representation of the Nation-State and synthesis of the greatest human virtues.
c) Individual physical perfection based on science and technology, recorded in the record and materialized in the champion’s body.
d) The collective physical perfection or corporal wellbeing for all the bodies of the buyers-fanatics-consumer public, achievable through the consumption of the body, by the body and for the body, when contemplating the sports spectacle. Collective happiness is achieved by consuming inherent and / or associated merchandise objects, linked and identified with the sport, particularly with the recordchampion (corporal image of the champion, model of overcoming, healthy body, patriotism-nationalism, etc.)
By producing and reproducing the ideas of performanceproductivity- profitability-linear and infinite progress, State- Nation, individual and collective physical perfection, well-being of all and ideal model of human coexistence, sport is presented as an archipelago of happiness in the midst of a storm of unhappiness that is the rest of society, becoming the illuminating beacon to which other social institutions must follow; becoming a source of consolation, hope and resignation, because despite the abysmal social differences in sports we are all equal and the transition to happiness is not so far, it will be achieved as the rest of society look more and more like the sport. This is the ideological function of the sport turned into a Transnational Entertainment and Entertainment Company (EDTEE), it is the globalizing sports ideology.
The medicine has been:
“Since the eighteenth century a fundamental tool in the management of the population and a decisive resource for the incorporation of bodies in the productive order of capitalism,” transiting processes whose result “has been an absolute medicalization of society and full identification of the problem of health with the interests of the economy” [8].
In the 20th century, we assist to:
“A broad and unlimited process of medicalization” is the unstoppable extension of the medical paradigm in our culture. With the doctors and their knowledge as decisive, it has been “Imposed by an act of authority and its object is not only related to the disease, but with a broad and diffuse concept of health”, it does not recognize the existence of a territory external to the Medical codes and medicine became one of the components of the economy “because it produces wealth for itself given that health becomes a consumer good representing a wish for some and a luxury for others”. In other words, “medicine leads to the incorporation of health and disease into the game of the market, with its production agents (laboratories, pharmacists, doctors, clinics, insurers) and with their consumers (the real patients and the potential sick people that we are all) “.
The irruption of health in the economy produces the perverse effect of generating:
“An infinite demand and a generalized dissatisfaction of the client, since the increase of the medical consumption does not suppose an improvement of the level of health, unlike how it is promised”. What it brings as consequences: 1) The creation of a growing and changing “frontier offer with respect to medicine, which ensures new experiences of physical wellbeing, other nutritious alternatives and other modes of body stylization”, covered with “a series of consumer goods that resort to the ideal of healthy life: low calorie food products, programs and instruments of physical conditioning, etc. “2) The infinite demand for health by customers produces enormous economic benefits for large pharmaceutical companies, which they intervene with more prominence in medicalization and decrease that of doctors. “Around this need for intervention ..., a whole industry of commercial interests flourishes. There are, for example, companies that market over time to doctors (usually scarce and, therefore, valuable in the logic of supply and demand) selling it to pharmacists’ visitors ... There are also other types of transnational companies, such as International Marketing Services Health or Close Up, which collect information about the medicines prescribed by doctors, build profiles on their prescription habits and design huge databases that are then purchased by large pharmaceutical companies in important figures of money”.
In globalization:
“The medicalization of society has succeeded ... capture the body as an object of consumption and production of capital. Healthy lifestyles, the care of food, the need to have a body in shape are promoted, not only as a way to reinforce the primacy of individualistic interest, but also as a way to create a market where at first it seemed not exist”. The institution of health produces and reproduces the individualist ideology of capitalism and hides the existing authentic power relations, as it is “A mode of relationship of the subject with its own corporeality. A mode of relationship with oneself that is useful for a system that seeks the decomposition of bonds of solidarity between subjects. Individualization works, therefore, as a tool that privatizes or personalizes the structural contradictions of the capitalist system. In this way, the invisibility of these conflicts is ensured and the global order advances in its perpetuation. The health industry, in this sense, would play a decisive role in the construction of an immune society10, of individuals locked in the aseptic space and assured of their privacy, afraid of the contagion that may come from the outside and that embodies alterity” [8].
Sport and health have become important economic activities and are producer-reproducers of capitalist ideology in their specific field of action. They fed each other and simultaneously in the processes of conversion into economic activities and producer-reproducers of the capitalist ideology. The ideal of healthy life and body in the form of medicine finds reciprocity and complement in the idea of corporal well-being for all of sports, is part of the ideological production-reproduction of both institutions in order to justify, make viable and advance their conversion in economic activities: The EDTEE that aims to convert all the inhabitants of the planet into a public-fanaticconsumer of the spectacle that it produces intensively and extensively every day; and the great health industry to cover the infinite and unsatisfied demand for health that it created and creates permanently (in 2016, global health expenditures were just over US $ 3.88 trillion).
A close relationship between EDTEE and the big health industry is established:
a) The entire medical device and infrastructure of the large health industry was installed in the EDTEE: sports medicine with its annexes and similar (nutrition, psychology, technology, etc.), on the one hand, sustains the material production of record-champions feeding the idea of individual physical wellbeing, and, on the other, it becomes a foundation and reference of obligatory and indispensable consumption so that the publicfanatic -consumer of the sport can access the collective physical well-being.
b) The device that produces record-champions (subjecting the body of athletes-competitors in the object of scientific experimentation and in the use of materials and instruments in the preparation, training and competence) of the EDTEE, was installed in the large industry of health, who by reworking it and adapting it to the needs of ordinary people, on the one hand, considerably broadens its offer of services, and, on the other, it is legitimate, promising well-being, a healthy body and a healthy life.
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https://juniperpublishers.com submitted by Introduction Business or company valuation is a process and a set of procedures used to estimate the economic value of an owner’s interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive for an interest in the company or business. The rapid advancement in Blockchain technology opens a host of possibilities to build a comprehensive financial services ecosystem in an open and transparent manner. Tapping into this technology, iP2PGlobal aims to introduce a global solution to provide affordable and accessible financing to borrowers and attractive risk-adjusted returns to lenders. iP2PGlobal plans to develop a peer-to-peer (“P2P”) financing platform using smart contracts and blockchain technology called iP2PGlobal Personal Financing Platform. This Platform will bring together borrowers and lenders from all over the world and connects them on a single platform in a trusted, fast and easy manner. In this review we look at the key components of the iP2PGlobal Personal Financing Platform and the people behind the company to determine the company’s capabilities and capacity to weather the challenges of delivering its project, developing its business and in doing so hopefully provide some market guidance to investors and partners on a fair valuation of the TWQ Token. PEOPLE A. Management team Rashdan Ibrahim - Chief Executive Officer Rashdan has over 24 years of working & entrepreneurial experience, he has worked with household names like Petronas, Deutsche Bank, & Arab Real Estate Co. KSC, throughout South East Asia & the Middle East. Muhammad Radzi - Chief Operating Officer Radzi has over 27 years work and management experience in the consumer finance and factoring finance industries, he was also the co-founder of two Shariah-compliant factoring companies in Malaysia. Afdha Yusof - Chief Marketing Officer Afdha Yusof has over 15 years of experience in Human Resource and Talent Acquisition in some of the top MNC companies in Southeast Asia and Middle East. Derek Lee - Head of Business Development With over 31 years of working experience in banking treasury and factoring financing. He has worked with household names like DBS, Citibank & Deutsche Bank. Azli Noor - Head of Legal & Compliance Trained as a lawyer, Azli has over 25 years working experience of which 17 years was in investment banking and trusts industries. James Loy - Head of Credit Risk Management James has over 22 years of working experience of which 15 years was as an investment banker in one of the largest banks in Malaysia. ASSESSMENT: The management team of iP2PGlobal are predominantly from the banking and finance sector. A closer look at the key managers reveal that they are seasoned professionals in their fields with established track records in conventional banking and finance both in the debt capital and equity markets. The project that they are currently pursuing represents only a small taste of what the management team has experienced and is most likely capable of undertaking. It is quite likely that the team will be looking into migrating other financial products and solutions from the conventional market to the blockchain in the near future. This bodes well for the TWQ Token as its function as a utility token will not be limited to the Crypto Loan product but be expanded into other products and solutions which will invariably increase the demand for the TWQ token and thus apply upward pressure on the TWQ token price in the market. Unlike many projects that have come into the ICO/IEO market, iP2PGlobal has real people with qualifications, expertise, and experience in the field relevant to developing the P2P Loan Platform of this project. For new entrants and people from the conventional financial services sector who are just discovering the blockchain and crypto, it may provide some comfort to these new participants to see seasoned conventional financial professionals who have migrated to the crypto world ahead of them. It is encouraging and builds on the credibility as well as sends a signal to the conventional financial services sector that the blockchain and crypto is something they should not ignore. B. Advisors Dr Ahcene Lahsasna Currently the CEO of Salihin Advisory & he also sits in the shariah advisory committee for Standard Chartered Saadiq Bank & Re-takaful. Dr Ahcene has authored more than 20 books and is the recipient of the Global Business Leadership Award in Islamic Finance in 2017 & 2019. Azzizi Mohamad Ghazi Having a long Treasury experience with the largest bank in Malaysia, Maybank and with government owned Valuecap. Azzizi is a co-founder & Managing Director of AbleAce Raakin. He is a member of the Financial Market Association of Malaysia. Azaraie Mohamad Ghazi A chemist by profession, Azaraie co-founded AbleAce Malaysia in 1997. He was part of the group that co-founded AbleAce Raakin in 2006. He is a member of Malaysian Oil Scientists’ and Technologists’ Association (MOSTA). Scott Phillips With more than 25 years’ industry experience, Scott is Co-Creator of Smooth Retirement™. He has worked in various senior roles at Westpac, StatePlus (formerly State Super Financial Services (SSFS)), Bank SA, NEO Financial Solutions and Commonwealth Bank. Azmin Hassan With more than 18 years’ experience in banking, venture capital and private equity, Azmin has amassed various experiences in the oil & gas, general aviation, wireless infrastructure and real estate industry. He is the founding member of Qyrin Petroleum Technology. Abdul Rahman Ibrahim A computer science major, Abdul Rahman has worked in the animation and telecommunication industries household names such as Rhythm & Hues, Anima Vitae and Xoxzo (Japan). ASSESSMENT: iP2P Global has clearly stated that it will collaborate and work with partners who are subject matter experts (SME) in key areas where the management team believes it should leverage the best available technologies and practices in the market. There is no sense in reinventing the wheel when someone else has already established market acceptance and dominance. Additionally, for the iP2PGlobal Personal Financing Platform, being a Sharia compliant product and solution there are clear rules, regulation and requirements that need to be fulfilled in order to be properly recognized as Sharia compliant. As such, several members of the Advisory board are licensed and accredited by the relevant regulatory bodies responsible for Sharia compliance. The other Advisors on the board on the other hand come from industry and provide valuable experience and insights from outside the crypto market that could inject some real-life and real-world lessons learnt from various industry sectors. These Advisors serve as a check-and-balance to the management team and the TWQ project which will potentially improve the market acceptance and applicability of the TWQ project and other financial products and solutions which will be developed by iP2Pglobal following the successful delivery of the Crypto Loan platform. Besides providing oversight and industry input, the Advisors certainly will be involved in new product and solutions conceptualization which will ensure a steady pipeline of new crypto based financial products and solutions that will utilize the TWQ token. The board of Advisors of iP2Pglobal have a balanced mix of subject matter experts who should enhance the already strong team behind the project. C. Partners AbleAce Raakin Sdn. Bhd.: Commodity Murabahah Provider Salihin Shariah Advisory Sdn. Bhd.: Shariah Adviser ASSESSMENT: Ableace Raakin is the Global Islamic Finance Award winner for the Best Shariah-compliant Commodity Brokers in 2017. They are also a member of the International Islamic Financial Market (IIFM). The IIFM was formed under Royal Decree No. (23) Dated 2002 of the Kingdom of Bahrain as a neutral and non-profit infrastructure development organization. IIFM is hosted by the Central Bank of Bahrain in Manama. The founding members of IIFM are the Islamic Development Bank, Autoriti Monetari Brunei Darussalam (formerly Ministry of Finance Brunei Darussalam), Bank Indonesia, Bank Negara Malaysia (delegated to Labuan Financial Services Authority), Central Bank of Bahrain (formerly Bahrain Monetary Agency) and the Central Bank of Sudan. Salihin group offers an integrated and yet wide spectrum of professional services in the areas of auditing and assurance, taxation, business advisory and corporate finance. Salihin has over 70 professionals serving international clients globally. With a formidable pool of competent and experienced professionals they strive to consistently provide high value and high-quality end-to-end services to clients without compromising its integrity. Through insight and foresight, its professionals shape, revive, redirect and set the pace to leverage complexity and dynamism for clients’ sustainable business vitality, viability, profitability, and growth. iP2PGlobal has partnered with AbleAce Raakin and Salihin to provide Commodity Murabahah and Sharia compliance advisory. This is a clear indication of iP2PGlobals’ seriousness and commitment to providing bona fide Sharia compliant products and solutions to the market and to Muslims worldwide. We have seen a few blockchain projects bandying Sharia products and solutions to investors, but ultimately most if not all did not provide any proof or clear framework for Sharia compliance. In the case of the TWQ, investors especially Muslims can be assured that the platform and the crypto loans are structured to comply with Sharia precepts. 2. PRODUCT & TECHNOLOGY The financing products offered over the platform is based on Sharia finance principles. Sharia finance principles mean prohibition of interest and usury, steering clear of uncertainty-based transaction, avoiding gambling and avoiding investments in the production and selling of impure goods and goods of no use or no value. Sharia finance principles also relates closely to the concept of ‘Ethical Finance’ that emphasise the values of fairness, equality and morality in finance. Three financing products, an unsecured and a secured personal financing products based on Tawarruq contracts and a gold pawnbroking product based on Ar Rahnu contract will initially be offered. In the future, iP2PGlobal aims to add other financing products based on other Sharia financing contracts, such as Ijarah (leasing) and Musharakah (profit sharing) amongst others. The TWQ is an ERC20 token that confer the right to the token holder to submit an application for a personal financing based on a Commodity Tawarruq Trading program through the iP2PGlobal platform and have it listed in the platform for prospective lenders to view and choose to finance. The TWQ Token is a pure utility token and does / will not provide any other rights and functions to its holders. The medium of financing in the iP2PGlobal Platform will be in stable coins that pegged its value to flat currency. In its initial stage, the platform will be using PAX, TUSD and USDT in the future more stable coins will be accepted as the medium of financing in the platform. ASSESSMENT: The TWQ project is built on a marriage of blockchain technology and peer-to-peer technologies, both of which are experiencing high growth and adoption in today’s digital world. Add to this the untapped and unfulfilled demand for Sharia compliant products and solutions not just in the crypto space but also in the conventional market, what we have in the iP2PGlobal platform is potentially an explosive or high growth business. The management team it appears has done a thorough study of the financial services market and the attempts by others to penetrate and introduce Sharia based products and solutions to the crypto market. Many have tried a blanket or shotgun approach hoping to capture overnight a piece of the Sharia market with a population of 2.18 billion Muslims worldwide. The evidence however seems to show that this strategy is ineffective and prone to many shortcomings. There are many critical issues which need close attention by project and solutions developers and providers in order to successfully encourage adoption and regular use of crypto based and peer-to-peer solutions. The blanket strategy does not work effectively in this situation. iP2PGlobal has chosen to develop a single product or solution to address a specific demand and need in the market — crypto loans — and has committed its whole roadmap over 24 months to ensure a world class and commercial grade platform is delivered to the market. The management team could have chosen to be overly ambitious or even greedy but instead they have forgone (for the moment) the larger market and opted to be focused on one segment to the benefit of users and investors. It appears that the management team foresight tells them that success with one product or solution is necessary first to solidify market credibility and commercial basis to develop other products and solutions as and when the crypto market evolves and when the critical demand for more financial services is in place. Unlike most blockchain projects we have seen, this project is very concentrated on doing and delivering one thing and doing it very well. This attitude by iP2PGlobal is admirable and lends a lot of confidence that the project is very likely to be completed and delivered to the market. The bull run of 2017 saw thousands of ICO’s raise funds based on frail and farfetched ideas, flimsy whitepapers, and aggressive marketing tactics compared to actual working products and a real market. Today the initial hype is over, but the utility of ICO’s and IEO’s still serves an important function. As the crypto market continues to develop, bad coins will cease to exist, while projects with real use cases will thrive. The iP2PGlobal lending platform is an example of a Bona Fide project raising funds through an exchange coin offering that has real-world use case and a real market, in addition to real people with qualifications, experience, and track record. 3. MARKET P2P is the practice of lending money to individuals or businesses through online services that match lenders with borrowers. P2P is a relatively new industry, with the 1st P2P lending platform only starting in 2005 in the United Kingdom. Prior to the introduction of P2P lending platforms, the main source of any financing for individuals or companies was from traditional lenders such as banks and finance companies. The main reason why the P2P business model works, is because its operational expenses is lower when compared with traditional lenders. Technology plays a big part in bringing borrower and investors together ensuring that the main culprit of high costs i.e. branch infrastructure is made obsolete. These savings in operational expenses allow P2P players to under-cut traditional lender’s spread thus providing big savings to borrowers via lower interest rates and better returns for investors, compared to savings and investment products offered by banks. Based on Industry Reports by Cambridge Centre for Alternative Finance, Global alternative financing has been on a strong growth path over the past few years, registering US$419 billion in total in 2017 compared to only US$43.6 billion in 2014. Based on the 2016 total of US$289 billion raised, P2P lending made up the lion share with 55.8% coming from P2P consumer lending (US$161 billion), whilst P2P business lending and P2P real estate lending was at 23.85% and 2.96% respectively. The continued growth of P2P lending, in particular P2P consumer lending, which makes up the majority of the online alternative finance market especially in Asia Pacific, Americas and Europe augurs well for the industry as more people accept the P2P lending model and start to branch out from traditional lenders like banks and finance companies. The global peer-to-peer lending market is expected to grow tremendously and post a compound annual growth rate of more than 53% by 2020 from 2015. Since the cryptocurrency lending market started in 2016, over US$4.7 billion loan volume has been originated, but the income generated is low at US$86 million or less than 2%, although the borrowing rate typically ranged from 6%-10% on an annual basis. iP2PGlobal Platform will open up financing to a big Muslim population (estimated population of 2.18 billion), who wants to borrow and lend according to Sharia finance principles. However, although Sharia financing products are sought after by Muslims, this does not preclude or should deter non-Muslims from tapping onto the platform, as the iP2PGlobal Platform is open to everybody regardless of their gender, race or religion. ASSESSMENT: The Global Peer to Peer (P2P) Lending market is categorized into consumer lending and business lending. The traditional P2P model generally exists on a large-scale mostly in developing regions. However, this is mainly due to minimum availability of modern technologies which makes companies adopt the P2P model. The industry is projected to reach USD 820.70 billion by 2025. The driving factors influencing the global peer to peer lending market demand are growing awareness among consumers, transparency in process, low-interest rates, process efficiency for easy loan distribution, and demand for loans by small & medium enterprises, real estate sector and other consumer loans. P2P Lending companies are investing in new technologies to make the process easier and efficient. For instance, Faircent has launched e-sign facility in collaboration with eMudhra to reduce the turnaround time for loan distribution by further reducing the human intervention in the process. In the year 2017, consumer lending dominated the overall peer to peer lending market by occupying a 72.2% share. P2P lending has provided easy access to loans due to which there is a rise in personal loans, home loans, student loans, and other consumer loans. However, business lending is also witnessing a significant growth owing to the growing number of small & medium businesses across the globe registering an exponential growth rate over the forecast period. Regionally the global peer to peer lending is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. In 2017, Asia Pacific dominated the global P2P lending market of which China occupied a major share in this region. However, in recent years there has been an increasing number of P2P lending frauds in China due to which China Banking and Insurance Regulatory Commission has imposed stringent regulations to restrict P2P lending companies from committing crimes. This development is actually a positive indication as the fact that the regulators are paying attention means that the industry is significant to the economy. In Europe, Unite Kingdom dominated the P2P market by contributing more than an 82.3% market share. Zopa was founded in 2005, the first company to launch website for borrowing and lending services. After which many new companies were launched including funding circle and rate setter. The stringent regulations implemented by the Financial Conduct Authority has paved the way for the UK P2P lending market. Moreover, many start-ups are coming into the market as investments are increasingly by venture capitalist. The global P2P lending market is fragmented with many regional and international players across the globe. Here are some of the leading players of the global peer to peer lending market include Zopa, Prosper Marketplace, Lending Club, Funding Circle, Upstart, SoFi, RateSetter, China Rapid Finance, PPDAI Group, Funding Societies. It should be noted that one of the reasons for the fragmentation is due to the limitations and restrictions on Global Fiat Lending or cross-border fiat lending because of the different licensing and regulations in different countries. The iP2PGlobal Personal Financing Platform will be the first truly Global P2P lending platform as the platform is a CRYPTO LOAN platform and as it is not fiat lending, the platform solves the problems, limitations, and restrictions imposed by country specific regulations on cross-border currency transfelending, and fiat currency exchange fluctuations. In terms of market size, market segment growth, and trends in the financial services industry, the iP2PGlobal platform appears to be entering a position that has all the right ingredients for mass acceptance and adoption of the loan platform solution/service. 4. PROFORMA FINANCIALS
IP2P GLOBAL PLATFORM 5 YEARS PRO-FORMA FINANCIALS The above proforma financials of the iP2PGlobal platform is prepared based on information and data provided by iP2PGlobal Ltd in its Whitepaper, and information and data available from reports in the public domain on the P2P Lending market, developments in the Fintech industry, and global trends in the financial services sector. Relevant and applicable growth rates of the P2P lending market and macroeconomic data on the funding-gap globally between the “banked” and “un-banked” market is also referenced and factored into the financial projections. Assumptions & Observations: The proforma financials rest on the latest public figures on the P2P Crypto Lending market, and for the 5-year forecast period, the historical industry CAGR was applied at a 50% discount, which implies that the growth will decelerate — this is a conservative position by iP2PGlobal (ii) At the end of the 5-year forecast period, iP2PGlobals’ share of the P2P Crypto Lending market is projected to reach a mere 1.56% which is very conservative given several unique features of the iP2PGlobal platform. (iii) The loan composition used in the forecast is constant at 20:80 between Unsecured and Secured Loans. A higher percentage of Unsecured Loans would yield higher revenue to the platform as the platform fee for unsecured loans is higher than for secured loans. (iv) Total borrowers using the iP2PGlobal platform over the 5-year period is 630,365 borrowers, borrowing a total US$194,667,762 assuming a fixed average loan per borrower of US$1,000. This US$1,000 amount may not be representative of what the platform will actually see as the is no limit on the loan amount that can be submitted. Assuming a low average loan amount discounts the forecast from potentially large loans from businesses and high-volume traders, who may also use the platform. (v) It should be noted that some P2P Lending platforms impose a minimum loan amount as high as US$30,000 whereas the iP2PGlobal platform has a much lower minimum loan amount of US$200 only (vi) Borrower growth and loan growth appear conservative by comparison to the historical CAGR of the market segment which ranges from 30–52%. (vii) Utilization of the TWQ Token starts at a conservative 4.86% of the theoretical total TWQ in Public hands but reaches a utilization of 38.96% by the end of the 5-year forecast period. 5) VALUATION & PRICING
TWQ TOKEN FUTURE VALUATION & PRICING A. Average P/E Ratio for the Financial Services Industry Companies that operate within the industry include those focused on brokerage operations, conventional banking, asset management, as well as debt and credit services. Since the financial services industry plays an important role in the overall performance of the markets, investors should be concerned with the average P/E ratio of this sector. As of August 2018, the average P/E ratio of the financial services industry is 14.26. This metric includes the sector averages of specific financial service categories, including banks with a P/E ratio of 13.51, capital markets with a P/E ratio of 18.83, and insurance with a P/E ratio of 14.64. A smaller sector in the broader financial services category, thrifts and mortgage finance has the highest P/E at 32.17, while the lowest at this time is the mortgage REITs sector at 7.11. Because of the absence of historical price data, a test of reasonableness cannot be done for the TWQ Token thus the only guidance that is available to assess the forecasted TWQ Token price are industry averages of PE multiples of the financial services industry. The first year proforma PE ratio of the TWQ Token is forecasted at 16.04x which is in the range of PE multiples of companies in the financial services industry that ranges from 7.11x to a high of 32.17x. By the 5th year of the forecast period the PE ratio is forecasted at 20.13x which is slightly higher than the PE ratio for capital markets at 18.83x but still within the range of multiples for the industry as a whole. As depicted in Figure 1 above, the rate of change of the PE ratio curve is not as steep as the TWQ Price curve which indicates that the iP2PGlobal lending platform earnings are forecasted to increase at a higher rate. As stated in the above section on assumptions and observations, the slightly higher PE curve applied may be justified by the fact that the proforma financials do not factor in the untapped Sharia market and the potential 2.18 billion Muslim population.
TWQ TOKEN FORECASTED PRICE & PE RATIO B. Market Capitalization When evaluating a token or coin, looking at Market Cap helps give some idea of the potential price performance in relation to the total crypto market capitalization and also similar tokens and coins. An examination of a tokens’ market cap also provides investors an objective tool in navigating through the hype and marketing which is so prevalent in the ICO/IEO scene. Market capitalization is a common metric for traditional securities and is now sparingly being applied in crypto. For the benefit of crypto investors, we look at the TWQ market cap in applying a conventional evaluation tool that is a measure of the value of a security. It is derived by multiplying the amount of outstanding stock shares by the current stock price. In crypto, it’s defined as the circulating supply of tokens multiplied by current price. If a coin has 1,000,000 tokens outstanding and is trading for US$1 a coin, it has a market cap of US$1,000,000. Stocks and bonds are regularly analysed with financial metrics and ratios. Measures like price-to-earnings ratio, earnings per share, the current ratio, earnings growth, and so on are used to examine stocks. In crypto, financial statements are mostly never published. A market cap is quick way to gauge a coin’s value — healthy market cap is indicative of a strong coin. When combined with other metrics, market cap gives investors more tools to arrive at an investment decision. The Market Cap of the iP2PGlobal platform in the first year is calculated as follows: Market Capitalization = TWQ Price x Circulating Supply of TWQ Tokens = US$0.57 x 50,000,000 = US$28,740,735 It should be noted that the market cap calculation used in the proforma is a 12-month average to smooth out price fluctuations during each proforma year. As can be seen from the formula above, the variable of significant importance is the TWQ Price, and going back to the section above on PE Ratio it has already been established that the proforma TWQ Token price is within the reasonable ranges of PE multiples for the financial services industry.
FORECASTED TWQ MARKET CAPITALISATION C. Economics The visuals below essentially show the number of circulating TWQ net of reductions from defaulted loans, in comparison to the total value of TWQ staked on the iP2PGlobal lending platform over the 5-year forecast period. It is a simplistic measure nevertheless highlights an important characteristic of the TWQ Token and the implications on its price trajectory.
FORECASTED TWQ TOKEN SUPPLY VS. VALUE STAKED What is clear from the chart above is the following: The supply of circulating TWQ reduces over time Value of TWQ staked is larger over time Given, Perennial reduction in the supply of circulating TWQ due to loan defaults Growth in the platform use and earnings will be reflected in a price increase of the TWQ Higher price of TWQ will reduce the number of TWQ needed for loan submission Thus, Although the amount of TWQ needed for a loan submission is less because the price has increased, the reducing supply of circulating TWQ combined with the price increase in TWQ will result in a net upward pressure on the TWQ price. This presumption is fundamentally correct as the increase in the utility of the TWQ will support the price of the TWQ which reasonableness has been established based on PE multiple price simulation using financial services industry averages. 6. OVERALL OUTLOOK & CONCLUSION Unlike investments through bank deposits, P2P platforms connect borrowers and lenders directly through the marketplace, thereby somewhat eliminating the role of middleman. This is what the iP2PGlobal Platform does. Traditionally, most investors are risk averse and rely more on bank fixed deposits (FDs) as the capital invested is not market-linked and is not exposed to short-term market volatility. However, things are now changing, as investors are not fearful of taking some calculated risks. The iP2PGlobal Platform offers investors/lenders this opportunity. As a result of the change in investment patterns, apart from savings accounts and bank FDs, P2P investment has been coming up as an alternative among the younger generation. By connecting the borrowers and lenders directly, P2P lending not only brings more transparency, but unlike in the case of banks, also provides opportunities for investors to choose the loans they want to fund, which is essentially what the iP2PGlobal Platform allows. Additionally, as the middleman (like banks in case of FDs) is eliminated, borrowers can negotiate a better cost of funds rate and investors can create their portfolio of loans as well on the basis of credit ratings and interest rates of borrowers, which may fetch higher returns for them. Before the introduction of P2P, the options to invest were either market-linked products like equity and mutual funds, which required the investor to have a decent knowledge about the market, or to park the money in banks which had lower returns. Now, with P2P lending, investors may also earn higher returns without having to worry much about the volatility of markets. P2P lending has become an alternative investment destination for those investors who wish to earn higher returns without facing short-term market risks. It is almost common knowledge now that millennial investors prefer data-backed investment options over the traditional options. As a result, P2P lending has become a go to option for the millennial individuals as P2P platforms use AI and Machine Learning to deploy the investor’s money to generate maximum returns. “P2P lending is still in the nascent stage and is expected to grow as there are huge opportunities, with the credit demand and supply gap — as per the estimates of the World Bank — being close to $380 billion’. One major risk for investors on p2p lending platforms is that the company running the platform becomes insolvent and is unable to continue to operate the marketplace. The importance of the financial health of a p2p lending company for assessing the overall risk is essential. More often than not, insolvency and business failures are due to people and management, and not the business or market itself. In the case of iP2PGlobal it is very clear and evident that the company and project is being developed and driven by real people with relevant qualifications, experience and track records. CEO of FinTech platform YouHodler stated that “the altcoin market cap is slipping, but it is far from being destroyed. We are amid a new altcoin rebirth. Many, once popular, altcoins will find it very hard to make a comeback to their all-time high, if at all. Yet, there are still many promising altcoins with real use cases and revenue generation models that will outline the new trajectory of the altcoin market”. In general, most subject matter experts conclude that the future of altcoins is still yet to be determined but will rely solely on a given project’s ability to provide firm use cases. The use case for the iP2PGlobal Platform is crystal clear from the onset — they are moving financial services from the conventional market to the Blockchain. Using altcoins as collateral for a crypto loan helps users utilize the value of their altcoins without having to sell. If the value of their altcoins increases during the loan term, then the users keep all the profits. If altcoins take a negative turn in the other direction, then users can take comfort since they already have the cash and did not lose any additional money. This feature or utility is often overlooked in its importance as the usual emphasis when people look at P2P lending platforms is on how much of a loan can be obtained and what the costs are. Most overlook the benefit or economic value of being able to get further leverage or utility from the altcoins which they have already expended real (fiat) currency to acquire. Perhaps with the growing understanding of P2P and Blockchain, these benefits will become more prevalent. We have all seen many companies with fantastic products, technology, ideas, and markets brimming with potential demand yet have fallen short of success. Many have come and gone, and many more will appear to take up the challenge of developing and establishing a commercially viable and sustainable business. The question that comes to the mind of many when we see so few successes of such great ideas and fantastic product and marketing strategies is — “What happened? Why did this company not make it?”. There is no shortage of analyst, consultants, and industry experts that regularly evaluate and review established companies and corporations especially listed companies. In these situations, the task of evaluation is focused more on how these companies are performing as compared to the market and competition. Established companies and businesses by definition are those who have succeeded. Evaluating private and early stage companies and businesses however requires a more dynamic as well as a rigorous thought process and evaluation framework. Oftentimes as these companies are early stage, the only “tangible” or real element that is available for analysis and evaluation are the people behind the company. History has also proven that success of many great companies and products are attributed to the founders and people behind the companies and the product. This review of iP2PGlobal Ltd and by extension the review of the TWQ Token has in some parts been detailed whereas in other parts general at best. This is a reflection of the absence of generally accepted and established methods for evaluation of crypto assets and the crypto market. The assessment has adopted fundamental as well as some technical analysis methods borrowed from mainstream. In areas where data and information are lacking, certain presumptions and extrapolations were made. One thing for certain however about the iP2PGlobal lending platform is that the company behind the project has real people with real experience and track record. Why this is important is because only real people with relevant experience can navigate the uncertainties and dynamic nature of the real world and real economy. If you are an investor, look at the next big ICO/IEO and try to sift through the hype and marketing, and see if you can find a real and solid team behind the project and solely base your decision to invest on the team and people developing the project. If you are a genuine investor and you struggle with this, then chances are what your instinct is telling you is correct. In the final analysis, any attempt to evaluate and assess the value of a business, company, stocks, token, and securities will always be incomplete. Having said this, some semblance of a proper and objective evaluation should bring a fresh air to the usual hype and hoopla crowded ICO/IEO market space. Analysis was done by Azmin Ahmad Hassan Azmin, is an advisor to iP2PGlobal Platform & TWQ token project, before establishing Qyrin Petroleum Technology in 2013, he has worked mainly in private equity and venture capital industry, amongst others he was a senior analyst with Maybank Venture Capital, he was also the Head of Private Equity for Bank Pembangunan Equity. Azmin’s linkedin profile page:
https://www.linkedin.com/in/azmin-ahmad-hassan-385b923/ submitted by Viele übersetzte Beispielsätze mit "gambling problem" – Deutsch-Englisch Wörterbuch und Suchmaschine für Millionen von Deutsch-Übersetzungen. The impact of problem gambling is far reaching, affecting friends and family members in addition to making a costly impact on state social and economic resources due to crime, medical and behavioral treatment, lost work time, bankruptcy, unemployment and homelessness. Gambling disorder, previously defined in the Diagnostic and Statistical Manual of Mental Disorders as pathological gambling, is Considered by many to be the most accurate movie portrayal of problem gambling, Owning Mahowny is based on the real-life events of Brian Molony, a Toronto banker who was convicted of embezzling money from a Canadian Bank. Molony embezzled the money to fund his escalating gambling addiction. In the movie, Dan Mahowny is the name of the character based on Molony. The movie starts with Dan NHS: The CNWL National Problem Gambling Clinic in London has doctors, nurses, therapists, psychologists, debt counsellors and family therapists with special experience in helping problem gamblers. Gamcare - runs the national HelpLine and its online equivalent, the NetLine, to offer help and support for people with a gambling problem, their family and friends. Deutsch (German) Русский Problem gambling (or ludomania, but usually referred to as “gambling addiction”) is an urge to gamble continuously despite harmful negative consequences or a desire to stop. Problem gambling is can be defined by whether harm is experienced by the gambler or others, rather than by the gambler’s behaviour.’, As demonstrated by the video below, problem Problem gambling effects both men and women, young and old. It is defined as gambling to a degree that disrupts, compromises or damages personal, family or recreational pursuits. In the United Kingdom alone, more than 2 million people are either at risk of developing a gambling problem or have a gambling addiction. According to a report dict.cc | Übersetzungen für 'problem gambling' im Englisch-Deutsch-Wörterbuch, mit echten Sprachaufnahmen, Illustrationen, Beugungsformen, A recent study by the UK's Gambling Commission, which regulates the industry in that country, found that 1.2 percent of people who gamble have developed a problem. When just online sports betting Viele übersetzte Beispielsätze mit "problem gambling issues" – Deutsch-Englisch Wörterbuch und Suchmaschine für Millionen von Deutsch-Übersetzungen. The Washington State Gambling Commission is committed to the encouragement of responsible gaming practices. Confidential help is available 24 hours a day, if you believe you or someone you know may have a problem with gambling. Call 800.547.6133 or chat online. Evergreen Council on Problem Gambling ECPG is a private, not-for-profit organization offering programs and services
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