Do You Think FIFA Is Corrupt?

On the UK Guardian: Fifa's Jack Warner resigns and claims Chuck Blazer 'undermined' him

• ...Warner had been suspended last month pending an investigation into allegations made by the executive committee member Chuck Blazer, who worked as Concacaf's general secretary under Warner for two decades, that he and the Fifa presidential challenger Mohamed bin Hammam had offered financial incentives to members of the Caribbean Football Union.....
  
  World football's governing body released a statement on Monday which read: "Jack A Warner has informed Fifa about his resignation from his posts in international football. Fifa regrets the turn of events that have led to Mr Warner's decision.
  
  "His resignation has been accepted by world football's governing body, and his contribution to international football and to Caribbean football in particular and the Concacaf confederation are appreciated and acknowledged.
  
  "Mr Warner is leaving Fifa by his own volition after nearly 30 years of service, having chosen to focus on his important work on behalf of the people and government of Trinidad &Tobago as a cabinet minister and as the chairman of the United National Congress, the major party in his country's coalition government.
  
  "The Fifa executive committee, the Fifa president and the Fifa management thank Mr Warner for his services to Caribbean, Concacaf and international football over his many years devoted to football at both regional and international level, and wish him well for the future.
  
  "As a consequence of Mr Warner's self-determined resignation, all ethics committee procedures against him have been closed and the presumption of innocence is maintained."
  Warner said: "This is giving the impression that Fifa is sanitising itself. I've been hung out to dry continually and I'm not prepared to take that."
  
  Warner and fellow Fifa member Bin Hammam were suspended last month after they were accused of giving or offering bribes of $40,000 (£24,500) to the 25 members of the CFU. The total sum involved was £1m according to a report to the Fifa ethics committee.....

Let me get this correct... Warner was accused of offering bribes $40,000 (£24,500) to the 25 members of the CFU and because Warner resigned...FIFA is dropping all charges against him... with the presumption of innocence is maintained!

What? OMG! What?

Gimme a break!

What kind of organisation is this?

Isn't the charge serious? Doesn't it undermine the integrity of FIFA? Shouldn't FIFA prove to everyone involved and more important to the whole world that is a HONEST organisation run by HONEST people? By dropping all charges, what's FIFA telling you? Well it's telling me, it's above law and at this moment, FIFA's law reckons it's ok to drop all bribery charges and as long as the person resigns and it does not matter if the bribery charge is true or false.

Or what if bribery and corruption runs much deeper within FIFA? What if a full scale investigation reveal just how badly corrupt FIFA is?


Let's see $40,000 to 25 members was the bribery claim.

Do the math.

How muchie?

That's a million dollar bribe. Think about it. If the bribery is real, surely there has to be an incentive, a profit incentive. Yes? Why bribe so much of there is no profit incentive?

Yeah, how big is the profit incentive?

Doesn't FIFA want to know?


Then I started wondering how much is that Sepp Blatter making? Why is the bugger hanging and hanging on to the FIFA presidency for decades? Why?

Then I did a simple google search on the phrase 'Sepp Blatter salary' (There's 1,400,000 search hits on this set of key words!)

And Blatter is making ONE MILLION POUNDS per annum!

I got it from the following article: FIFA: Why Blatter Must Go and Take All Members of Ex-Co with Him and the folllowing passage is interesting read:

• ... If Sepp thinks that FIFA are simply having some difficulties then what does the suspension of four of the 24 members of the top executive committee mean? Let's make that clear, the 24-member executive committee has had four of its members suspended on allegations (two now proven) of corruption.
  All of this has occurred and developed whilst Saint Sepp has been in charge so he is guilty at best of being an idiot at worse he is part of the most corrupt sporting body in existence.
  
  FIFA members also live a five-star lifestyle at the expense of grassroots football. Sepp earns a basic salary of $1 million per year but he also has free use of cars, hotels and food on expenses that would shame a British MP.
  
  Every time Sepp spends a dollar it is one less dollar that can be spent on football development or equipment or pitches in Sierra Leone or Belize or Thailand.
  
  But Sepp isn't alone there are literally hundreds of people on huge salaries because they backed Sepp in the past.
  
  Let's remember that each five-star hotel room they use makes it much harder to employ a football/soccer coach in Africa, each meal they eat at a Michelin-starred restaurant takes goalposts away from a field in Bosnia, each first-class flight they utilise means that kids stay on the streets and in danger in South Africa.
  
  As FIFA is a registered charity it seems odd that its head earns so well and is treated like royalty of course, but it FIFA also only allows the World Cup to be hosted in countries if FIFA has to pay no tax. A tax dodging sporting body doesn't seem that charitable to me.
  
  So ignoring the corruption allegations the simple fact that Sepp has overseen FIFA in the years that it became a plaything for rich fools and overpaid politicians means that he should go
  

Then I did another search based on the following keywords 'Is FIFA corrupt'.

http://www.google.com.my/#sclient=psy&hl=en&source=hp&q=is+fifa+corrupt...

That's a 2,690,000 hit search!
Did another search. I searched 'Is Sepp Blatter corrupt' and I got the following.

http://www.google.com.my/#sclient=psy&hl=en&source=hp&q=is+sepp+blatter+corrupt..

Fernando Torres Dives Against Manchester United

The once Legend of Anfield ....

World Cup Again

The Very Best

George Best 22 May 1946-25 Nov 2005

RIP

Maradona good.

Pele better.

George Best

Footy Star To Poker Star?

Here's a great interview with one my favourite ex-Manchester United footy star, Teddy Sheringham!

• Fame & Fortune: Teddy Sheringham
  
  Teddy Sheringham, 43, was the oldest man to have played in all four English football leagues before he retired last year. He was awarded an OBE in 2007 and currently lives near Epping with his girlfriend Kristina.
  
  Sarah Ewing
  Published: 2:00PM BST 07 Oct 2009
  
  How did your childhood influence your attitude towards money?
  We were very hard up when I was a child. Dad was a policeman and mum worked part-time. Dad always said to be grateful for what you've got in life, instead of what you haven't got. He always told me to look on the good side.
  
  That stuck with me throughout my football career, even when I was earning good money. There were always other people earning even more. It didn't matter to me, as I was earning more than I thought I would ever earn, and I was grateful for that.
  
  Some of the big names in football who played in the 1970s and 1980s probably wished they played in the current era, but the way I see it, they were earning more than the average person and if you managed your finances sensibly, then you would okay. Nowadays, the money has escalated beyond all belief, really.
  
  Did your parents really make you earn your pocket money?
  Yes. We always had at least one set chore each. My older brother and I had to do the dishes and dry up after dinner. We never did them properly, so mum probably had to go over them anyway. All we wanted to do was finish as quickly as possible so we could go out and play football with our mates. Just the fact we had to do it was grounding.
  
  Would you consider yourself more of a saver or a spender?
  Well, I like nice cars and nice holidays, so that's where I'm lavish. I do go out and spend on clothes every now and again, but I'm not like other footballers who have to have the latest of everything, whether it's gadgets or clothes.
  
  I don't really move with fashion. I like Prada for smart casual and Abercrombie & Fitch for a relaxed casual look. Every now and then I will have a big blow out and drop a lot of money over a few days, but then that'll do me for the next six to eight months.
  
  However, I'd prefer to treat my family to something special. Mum's suffered a bit with her hips recently and doctors said we might need to look at getting her a hip replacement in the future. It's not a usual gift, is it? But if it makes my mum feel better and gets her up and about again, then that's what's important.
  
  What sort of car do you currently drive?
  I've got a Bentley Speed, which is the third one I've had – I really like how beautifully it drives. It's a great feeling getting into the car. I did try the Ferrari 599 recently, which costs £220,000, but I wasn't convinced.
  
  Have you learned any difficult lessons about money?
  I've been playing poker seriously for the past six years or so, even though I've played card games throughout my entire career, on the coaches on the way to matches or sitting in hotels the night before. Unfortunately, you only learn to play poker by losing money.
  
  When you are playing at dodgy dens, like I played at, you know how many dodgy characters there are that have no money but have these skills to play poker that can't wait to get your money off you. They sweeten you up so they can take your money because they know they have more experience than you.
  
  They've got the cushions, make a cup of tea for you, and you think, 'Oh, this is nice of you'. So despite losing money week after week, you come away thinking, 'It's a really nice place, that is, I really enjoyed that.' It finally dawns on you, the techniques and tactics, and you can play them at their own game and make good money.
  
  What is it that you like so much about poker?
  I love the competition and the thinking skills involved. When people first start playing they think it's all about getting the big pairs and the high cards because that looks flash. Now it's more about trying to figure out what other people have got, using real skill, and whether they're bluffing. You have to think ahead.
  
  Is there anything that you hate about dealing with money?
  Bills! I'm terrible with them. One comes through and I'll leave it, another one comes through and I'll leave that one too – for some reason I can't sort it there and then. Before I know it, I've got eight bills on the side, then I have a mad day of getting the chequebook out, bank, bank, bank, bank, done, done, done. It makes me feel so much better.
  
  What's been your best buy over the years?
  Probably my current house, near Epping. It's named Camp Nou, after the scene of one of my greatest triumphs – Manchester United's 1999 European Cup victory. I lived in flats for a long time because of all my travelling with football, but I had this built in 2005. I had to pay over the top for the plot of land. I found an area where I wanted to live, but there was already a house there, a smaller house.
  
  I looked at the position of it and thought I would like a house there – just not that house – so the plan was I would buy it, knock it down and then build exactly what I wanted. I'm so pleased I did it. I'd previously looked at houses and didn't like lots of little rooms that never got used or strange layouts. I wanted to make the best use of the space I had, tailor-made to my needs, so every inch is maximised.
  
  Waiting for planning permission killed me, but once it was done, it was obvious the wait was worth it. I think I'll be here quite a long time. I have a new girlfriend who I've been with for a couple of years now, so if she wanted to move, then I might consider it. But luckily, she loves the place so I can't see that happening.
  
  Have you ever made a really bad decision about money or made a bad buy?
  When I was earning a lot of money at the peak of my football career, my agent was with a particular company, with a financial adviser looking after my money. He said he could do this and do that with my investments.
  
  I gave him a substantial sum of money and he frittered it away for me. To this day, I look back and think how could I have been so stupid to give him so much money? To give it to somebody else to just gamble with was just, well, terrible. I could have had so much fun with that money!
  
  How do you prefer to pay for things – cash, card or cheque?
  I'm definitely a cash man. I like to have a bit of cash on me and if I see something I like I'll buy it there and then, rather than writing cheques out and see it come out of the bank later on. I win and lose money at poker through cash, so that just the way I operate.
  
  Are you a good tipper?
  If I have good service, I'm a good tipper, I think. Bad service and I'm a bad tipper – that's exactly the way it should be.
  
  Do you think people expect more because of who you are?
  It wouldn't embarrass myself if someone said to me you were in my friend's restaurant the other day and you only gave a small tip. My response would be, well it obviously wasn't good service. I have no qualms about that. If someone gives me good service, I'll give them a good tip. If there was a story going around about me that I wasn't a good tipper that would be my response.
  
  Do you invest in stocks and shares?
  Not really at the moment. My son, Charlie, has been getting involved in trading in town for perhaps the past six to eight months. He's enjoying it, so I'm hoping that he'll come good or we can do it together.
  
  Do you have a financial adviser?
  Yes. We have a meeting maybe once every six months, maybe even a bit longer than that, just to clarify what's happening. He's someone I get on well with and has been with me now for a good few years. I like the way he works and the way he explains things. I need someone I can really trust after the last one I had.
  
  Do you like online banking?
  Ohhhhh no! I'm not an online man at all. I don't even know how to turn a computer one. I'm not sure I'd trust it either.
  
  Do you have a pension?
  When you're a footballer, you get your pension at 35. I didn't take it at 35 because I was still playing football, so I took it at 40 instead. I could have left it until I was 55, but I felt it would be too late to enjoy it. There's still a kind of pension that's rolling over, but most of it was taken out.
  
  What advice would you give to young footballers who might have more money now than they could ever had imagined, but not the experience to deal with it?
  Don't do anything major on a whim. A mate or an associate might come to you saying, 'I've got this idea, just give me £200,000,' which isn't a great deal for footballers these days.
  
  Then that idea doesn't work out and your money is gone in a blink of an eye. There are always people around that are looking to topple us over. You might think he seems alright, this fella – don't do it. Try and work it out for yourself.

source: here

Sepp Blatter Is Such A Hypocrite!!

On Sporting Life: BLATTER UNHAPPY AT SPENDING

• FIFA president Sepp Blatter is still trying to find a way of curbing the Premier League's spending power.
  
  Although the indications are Manchester City will fail in their efforts to lure Samuel Eto'o away from Barcelona, Blatter remains deeply troubled at the migration of talent to England.

What planet is Sepp Blatter from????????????????

The article continues..

• It could be pointed out Real Madrid are the ones who have done the big spending this summer, twice smashing the world transfer fee record, first to buy Kaka, then Cristiano Ronaldo, who will cost an amazing £80million from Manchester United.

Anything to curb the spending from Real Madrid?????

Flashback: FIFA president Blatter welcomes Ronaldo's transfer

• JOHANESBURG, June 12 (Reuters) - FIFA President Sepp Blatter on Friday dismissed concerns over Real Madrid's world record offer for Cristiano Ronaldo, saying it demonstrated the game's enduring popularity.
  
  Blatter has in the past spoken out about the huge sums of money in the game. (LOL! LOL! LOL! Hypocrite!)
  
  But he told a news conference in Johannesburg he saw nothing wrong with the 24-year-old FIFA World Player of the Year's proposed 80 million-pound ($131.2 million) move from Manchester United, which is still to be finalised.
  
  UEFA President Michel Platini said on Thursday the bid for the Portuguese winger was excessive when football was facing severe challenges during a global recession.
  
  Other sports officials also criticised the amount. But Blatter said: "What does 80 million mean when 10 years ago another player with the same name (Ronaldo of Brazil) moved from one club to another for 50 million dollars?.
  
  "It means that there is still a demand to have the stars."
  
  Blatter added: "We are in a very sensitive market, in an economic crisis, but football remains a fantastic product, not just to buy or sell but a product that gives people what they want -- emotions. They want the stars.
  
  "Ten years ago a painting from Picasso's Blue Period was sold by Sothebys in London for over 100 million. And what happened to the painting?
  
  "They hid it somewhere so no-one could take it away. Nobody can see it. But you can see a football player once or twice a week, he is there, he is a star. You might say it is too much, but you have to put it in context of what football in our society is worth and what other things in our society are worth."

End of the day, Blatter is saying it's ok for Real Madrid to spend like crazy. English clubs? No!

LOL!

Sometimes You Have To Spend A Little Bit More!

So says Rafa.

Rafa who? Rafa the boss of Liverpool.

• "Sometimes you have to spend a little bit more," said the Liverpool boss. "You can't compete in the top four of the Premier League unless you spend some money. (source: here )

Rafa was quoted saying that after it was announced that the club would spend an astonishing £17million for Portsmouth right-back Glen Johnson.

Yeah Glen Johnson was sold by Chelsea to Portsmouth for a mere £4million.

Well do remind him of what Rafa repeatedly said about Man United spending so much more money as the main reason why Liverpool keeps ending beneath Man United in the Premier League.

Rafa really needs to just see the numbers, yes? :p2

From ROM.

Source: here

The Michael Owen Brochure

Such a sad sight to see that Michael Owen needs to publish his CV on the papers!

MICHAEL OWEN BROCHURE: The complete 32-page agents' dossier on the fallen Newcastle star and former England striker

Would Fortune Favour Real Madrid Just Because They Dared To?

Posted the other day No Risk No Gain? Fortune Favours The Brave?

I was amused by the comments made in the article Fortune favours those who dare. In it the writer used Real Madrid as an example.

• Real Madrid grabbed the headlines and imagination of football fans around the world after it broke the world transfer record twice to buy two of the biggest names in the game. Having spent US$94mil to buy Kaka from AC Milan, Spain’s most decorated team then splurged US$131mil to secure the services of Cristiano Ronaldo from Manchester United.
  
  Indications are that the spending by Real Madrid has not dried up and the repercussions and reactions on and by other teams will be pronounced too during the summer transfer window period.
  
  Drawing similarities to the corporate world, investments by companies during these trying economic times too are continuing but understandably, have not kept pace with the football teams.

I just finished reading Myles Palmer article. It's excellent.

• The Calderon era, from July 2006 till now, admitted financial problems in April 2008, when they had to take out a £24.5 million loan to make up for the loss of David Beckham. When the English icon joined LA Galaxy in July 2007 he left a hole in their finances which had to be covered by a 30 million euro loan !!!!
  
  A study by the International University of Catalonia claimed that Real lost up to 45 million euros in annual revenue when Beckham left the club for the USA.
  
  This week, as flamboyant Florentino kicks off his second term by signing three galacticos in one summer rather than just one every year, we learn that two banks have given him colossal loans to fund the acquisition of Cristiano Ronaldo for £80 million, Kaka for £59 million, and the hottest box striker in world football, Valencia's David Villa, the next superstar on his list.
  
  Spanish building society Caja Madrid has agreed to loan of 76.5 million euros to the club, which has put up two undisclosed sources of collateral, and Spain's largest bank, Banco Santander, has agreed to lend them a similar amount.
  
  After a decade-long construction boom, Spain's economy is in recession and banks are suffering because of their exposure to the real estate sector. Caja Madrid's profits fell 71% in 2008.
  
  So claims that Real Madrid could fund the capture of Kaka and Cristiano Ronaldo out of their huge merchandising income are complete fantasy. Total rubbish. Complete garbage. Their shirt sales tanked two years ago when Beckham left.
  
  Florentino is looking to sell nine players and buy seven.
  
  Graham Hunter was Sky on Thursday morning saying that three banks have given a line of credit to Real Madrid up to 800 million euros.
  
  Eight hundred million euros ???
  
  They want Arbeloa, who is a product of the Real Madrid academy, but say Rafa's price of £10 million is too much. Valencia, another Spanish club have huge debts but Madrid show scant sympathy for them and keep trying to chisel a few million off the price of David Villa, whose buy-out clause is 38 million euros, apparently.
  
  Madrid's No.1 target now is Franck Ribery and Florentino's special adviser Zidane is talking directly to Ribery. Rummenigge says hes not for sale, although Beckenbauer reckons Bayern should let him go. I've heard that general manager Uli Hoeness has more power there than either of those two and that even the Kaiser can't over-rule Hoeness.
  
  Real Madrid have always been backed by the King, the government and the banks but it's now become ridiculous. Ken Lay and the big wheels at Enron thought they had friends in high places too, and they did have friends in high places, but Enron went belly up.
  
  If it was Chelsea or Liverpool borrowing 800 million euros, FIFA president Sepp Blatter would be going ballistic. So would Uefa chief Michel Platini.
  
  Their silence is the loudest silence in the history of football. It's deafening.
  
  Apparently, says Graham Hunter, Barcelona have only 35 million euros to spend this summer and keeper Victor Valdes wants the same wages as Casillas gets at Real Madrid : 9 million euros
  
  Somebody should write a book about this colossally crazy roll of the dice by the most refrigerated risk-taker that the football business has ever seen.
  
  It looks like madness, it should end in tears, it's an over-reaction to Barcelona's treble, and it's designed to make sure that Real Madrid, nine times the European champions, don't get their arses kicked yet again in the first knock- out round. (source here )

Yup, it's utter madness.

• If it was Chelsea or Liverpool borrowing 800 million euros, FIFA president Sepp Blatter would be going ballistic. So would Uefa chief Michel Platini.
  
  Their silence is the loudest silence in the history of football. It's deafening.

And as mentioned here, it's simply utter bollocks that FIFA is not saying anything!

--------------------------

ps: There was a past lesson in the collapse of Leeds United. See Burning Money!

Will Ronaldo Shine At Real Madrid?

On the UK Sun. I love to be hated

• Ronaldo forced the move through by telling boss Alex Ferguson he did not want to stay at Old Trafford.
  
  But he said: "I love it when people jeer me.
  
  "I love to see the hate in their eyes, to hear the insults. It doesn't bother me.
  
  "It's true lots of people hate me but there are even more who love me and who support me.
  
  "I feel bad only when I play badly. Fortunately, that happens rarely."
  
  Ronaldo insists he left United to improve himself as a player.
  
  He added: "I still have a long way to go. I really want to re-write the history of football.
  
  "I am aware I'm already among the best of the best but I want to continue to write many more beautiful pages."
  
  Ronaldo was outshone by Barcelona's Lionel Messi in last month's Champions League final in Rome.
  
  But he insists is not interested in comparing himself to the Argentinian.
  
  He said: "I have nothing to envy Lionel for. I don't compare myself to others.
  
  "I am Cristiano Ronaldo - and I can win more medals than anybody else. I don't like to relax.
  
  "The fans want to see a great Cristiano Ronaldo so I try to never disappoint."

I think Ronaldo should do good at Real. However, I do not think he will have a great a season he had two years ago when he scored 42 goals in 47 games.

That season, United's game was centered around him.

United played with a free flowing attacking forward line with one hundred flexibility, where the front players were allowed to swap positions throughout the entire game. Ronaldo were switching from left wing to right wing to center forward and back. He was playing all over the front line. The freedom of the pitch.

And he had one Wayne Rooney playing with him.

For sure, Real Madrid will play exciting, beautiful football but will they play like how United played when they won the league and Champions League?

Would Ronaldo be given the freedom to roam and switch flanks as per his fancy?

Would he have another 42 goals in 47 games season?

I doubt it and only time will prove if my view is flawed once again.

However, I do wish Ronaldo all the best at Real Madrid.

Goodbye Cristiano Ronaldo!

On ManUtd.com Record Ronaldo bid accepted

• 11/06/2009 09:30, Report by Press department
  
  Record Ronaldo bid acceptedManchester United have received a world-record, unconditional offer of £80million for Cristiano Ronaldo from Real Madrid.
  
  At Cristiano's request - who has again expressed his desire to leave - and after discussion with the player's representatives, United have agreed to give Real Madrid permission to talk to the player.
  
  Matters are expected to be concluded by 30 June. The club will not comment until further notice.

As expected the day has come.

Mixed feelings.

Performance wise, I do feel strongly that Ronaldo had given it all whenever he put on a Man Utd shirt. And no, I do not feel sad about him leaving. He has always said from day one that playing for Real was his dream. And more so, Ronaldo had his 'extra' stuff which many could not tolerate. And for £80million, I reckon it's good deal for Ronaldo and ManUtd.

For Real Madrid?

LOL! Fantasy football time?

LOL! Where is Platini? Where is that other fella?

Anyway bye Ronaldo!

It had been fun!

Here's an old clip.

Financial Meltdown For Liverpool FC?

On the UK Sun. Liverpool facing ruin

• LIVERPOOL were facing financial meltdown last night.
  The club's accountants issued a chilling statement admitting there is 'significant doubt' whether the company which runs the Merseysiders can 'continue as a going concern'.
  
  Liverpool's parent company Kop Football (Holdings) Ltd, run by American duo George Gillett and Tom Hicks, made a £42.6million loss last year.
  
  Around £36.5m of that is interest payments on the whopping £350m loan they took out to refinance the club.
  
  A top City analyst said: "Unless the owners find more money, the club is facing financial meltdown. Not only are the figures bleak, the future is gloomy too.
  
  "The more you read through the accounts, the more transparent it is that the owners don't have the resources to meet the targets they've set for next year either.
  
  "Everyone associated with Liverpool should be deeply concerned by this set of figures." ( read rest of article here )

On Fox Sports Liverpool Verge On Financial Meltdown!

On the Daily Mail Transfer shock for manager Rafa Benitez as Liverpool cash crisis deepens

• Hicks and Gillett face a July 24 deadline to refinance their £350m debt and though they remain optimistic about meeting it, there was a warning from the accountants that could have repercussions on Rafa Benitez's spending plans.
  
  Benitez has already admitted he may have to sell to top up a limited budget, and there were more concerns for the Liverpool manager after accountants KPMG LLP delivered a sombre assessment.
  
  Referring to the losses incurred by parent company Kop Football (Holdings) Ltd, they said: 'The directors have initiated negotiations to secure the replacement finance required by the group, and they are ongoing.
  'These conditions indicate the existence of a material uncertainty which may cast significant

On the UK Guardian. Liverpool owners lose 42.6 million pounds, say auditors

• The accounts for the year ending July 2008 showed Liverpool made a 10.2 million pound profit but Kop Football (Holdings) Limited lost money after paying 36.5 million in interest.
  Despite Liverpool posting a record turnover of 159.1 million pounds, the club's net debt -- not including that of the holding company -- jumped from 43.9 million to 86 million.

Net debt soaring.

Again.. there are massive risks when one borrows and borrows and borrows for one capital expenditure. And in Kop Football's case, despite record turnover, they lost money!

Well.. money is not for nothing!

Also on the UK Sun, some interesting comments on the editorial Kop lesson for Big Four

• If Liverpool are teetering on the precipice then what about Manchester United?
  
  The debt the Glazers took on board to finance the purchase of the club means United have to make £60m just to pay off the interest.
  
  That’s all well and good if they keep on generating vast amounts of Champions League revenue. But what happens if they reach the stage of a few years ago when they went out at the first group phase and didn’t even qualify for the UEFA Cup?
  
  And what of Chelsea? Their future is so inextricably linked with Roman Abramovich that God forbid anything should happen to him.
  
  Even anything as mundane as the Russian deciding he has had enough of football should he fail once again to fulfil his dream of winning the Champions League.
  
  Of the Big Four, Arsenal appear on the best financial footing as their £318m debt includes £250m in long-term bonds taken out to finance the Emirates stadium.
  
  Meanwhile, Real Madrid blow everyone out of the water by agreeing a £62m fee for Kaka and then turn their attention to Cristiano Ronaldo.
  
  How do they afford it? Because they have an individual domestic TV rights contract with MediaPro that pays an astonishing £135m a season.
  
  Ditto Barcelona at £130m a season.
  
  And the so-called Big Four under the collective Premier League deal? A relative pittance with figures of United (£52m), Liverpool (£51m), Chelsea (£48m) and Arsenal (£47m).
  
  How much longer before one or more of these clubs strike out on their own?

Chelsea Undone By Dodgy Decisions Against Barcelona!

The following clip just says it all.

The Beautiful Game

Flashback..



My favourite stike partnership for United was Yorke/Cole and here is THEIR goal once more.

Footy: Champions League Draw 2009

Quarter-finals

• Villarreal v Arsenal
• Manchester United v Porto
• Liverpool v Chelsea
• Barcelona v Bayern Munich

First legs will be played on April 7/8.

Second legs will be played on April 14/15.

Semi-finals

• Manchester United/Porto v Villarreal/Arsenal
• Barcelona/Bayern Munich v Liverpool/Chelsea

First legs will be played on April 28/29.

Second legs will be played on May 5/6.

-----

Not a bad draw.

United really has to start playing if they want to win again. For me, they pale in comparison when compared to what the team did last year.

So What Is £243 Million?

A £243 Million deal from Manchester City to sign Milan star Kaka is indeed stunning. (see sports news here )



However, it now appears that this £243 Million deal is peanuts given the events that happened yesterday

Yesterday, Barclays lost a whopping £27 Billion off its share value!

Published on TimesOnline.

• Barclays lost a quarter of its stock market value last night, just hours after the ban on the short-selling of banking shares was lifted.
  
  Shares of Britain’s third-largest bank plunged 32.4p to a ten-year low of 98p, wiping £2.71 billion from its value, amid speculation that Barclays will have to open its books to City watchdogs if it is to be allowed to benefit from the Government’s latest rescue package for the banking sector.
  
  This is widely expected to be presented early next week and the Government will promise capital injections if necessary. The Treasury will also hold out the prospect of creating a “bad bank”, to take the toxic assets off the balance sheets of the big lenders. These would be ring-fenced and partly guaranteed by the Government. The move would come alongside the creation of a “good bank”, possibly Northern Rock, to stimulate lending.
  
  Because Barclays previously snubbed financial support from the Treasury when Britain’s banks were recapitalised in the autumn, sources close to the negotiations believe that it will be excluded from further rescue packages – unless it opens its books to the Financial Services Authority.
  
  There was also speculation last night that Barclays faces further write-downs in the value of collaterised debt obligations (CDOs) – specialist financial instruments to which the bank’s investment banking arm, BarCap, is heavily exposed.
  
  Moody’s, the credit rating agency, downgraded the rating on a particular form of CDOs widely held by BarCap on Thursday and there have been rumours – denied by both parties – that last week’s resignation of Sir Nigel Rudd, the Barclays deputy chairman, was due partly to differences with the chief executive, John Varley, over how such instruments should be valued in the bank’s books.
  
  A downgrade in the creditworthi-ness of some credit card companies – to which Barclays, as the leading card issuer, is exposed – was also said to have been behind the decline. Analysts at Royal Bank of Scotland’s broking arm suggested that Barclays needed an extra £12 billion of capital owing to a risk of rising impairment losses in its loan book later this year.
  
  Barclays raised £7 billion in October and November, mainly in Qatar and Abu Dhabi, but came under attack when it emerged that it was paying more for this capital than RBS, Lloyds TSB and HBOS were for the £37 billion they received from Treasury at the same time. It is feared that, should Barclays have to raise new capital, it will be on far more onerous terms.
  
  Barclays insisted last night that, when publishing its annual results next month, it would reveal a solid capital position. It added: “The Board of Barclays expects to report profit before tax well ahead of the £5.3 billion consensus estimate of analysts.”
  
  City sources suggested that Barclays would make an ideal target for short-selling – selling shares of a company in the hope of profiting from a later fall in the price – after the lifting of the FSA ban imposed by the collapse of Lehman Brothers. One said: “Barclays is the obvious candidate. HSBC is just too big to short while Lloyds TSB, HBOS and Royal Bank of Scotland are now part-owned by the Government.”
  
  The Treasury is preparing a package to stimulate bank lending that is likely to extend the assets that will qualify for government guarantees.Shares of other leading banks fell sharply, with RBS dropping 5.20p to 34.70p and Lloyds TSB 5.1p to 98.4p.

So what has this got to do with City's stunning £243 Million bid for Kaka?

• MANCHESTER City owner Sheikh Mansour lost £440MILLION yesterday — nearly DOUBLE what he is set to spend on Brazilian soccer ace Kaka.
  
  The Arab tycoon, who hopes to sign AC Milan’s Kaka in a £243million deal, was stunned as Barclays shares crashed by 25 per cent — wiping £27BILLION off the bank’s market value.
  
  The Sheikh, 38, had plunged £3.5billion of his estimated £33billion fortune into Barclays last October, giving him a 16.3 per cent stake.
  
  But a banking insider said last night: “It’s fair to say Sheikh Mansour had a day from hell.
  
  “Talk about being in the Kaka. He must have watched the news with his head in his hands.
  
  “You wake up preparing to make history with the biggest ever offer to a footballer. Hours later, you’re down £440million.”
  
  A £440million loss is equivalent to the gross domestic product of African nation Gambia.
  
  Abu Dhabi royal Mansour bought Man City, managed by Mark Hughes, last September — raising hopes of an influx of star players.
  
  The Sun revealed yesterday that he hopes to take Kaka, 26, to the club by splashing £108million on a transfer, another £108million on the attacker’s wages and £27million in fees.
  
  He bought into Barclays when it raised £7billion from investors rather than lose independence in a British government bail-out. His stake is now worth £1.3billion.
  
  Barclays insisted last night it was not in any financial difficulty.

And of course Sir Alex Ferguson and the rest of the football community is simply shocked!.

• Sir Alex Ferguson admits he is "shocked and surprised" by Manchester City's stunning £108million bid for Kaka.
  
  Ferguson has never been afraid to spend big money on key players.
  
  The arrivals of Juan Sebastian Veron and Rio Ferdinand to Old Trafford broke previous British transfer records and only this summer he splashed out £30.75million on Dimitar Berbatov.
  
  But even the Manchester United boss has been taken aback by City's offer.
  
  It is not the team doing the buying that has caught him off guard, or even the fact AC Milan appear willing to sell.
  
  For Ferguson, it is the sheer enormity of the sum, well over double the most any club has paid for a player in the history of the game - Zinedine Zidane's move from Juventus to Real Madrid for £46million in 2001 - that has left him gob-smacked.
  
  "I find it hard to get my head round to be honest," he said. "It is amazing.
  
  "Football is football. From time to time you get shocks and surprises. This is surprising everyone."
  
  Ferguson is not convinced the staggering deal would have a knock-on effect throughout the game if it goes through.
  
  United midfielder Michael Carrick, who left Tottenham for a not inconsiderable £18.6million in 2006, has no view on whether lavishing such sums are morally right or wrong.
  
  However, it is clearly a move that has got the United dressing room buzzing, with the England midfielder left as stunned as his manager.
  
  "That amount of money being bandied about is a bit of a shock really," he conceded.
  
  "When Manchester City were taken over we were told they had a lot of money to spend and big names were being talked about.
  
  "But for it to be so much over the top is pretty mad really."
  
  While AC Milan seem happy to do business, City owner Sheikh Mansour knows there is a lot of negotiating to do with Kaka and his advisers before the Brazilian commits his future to Eastlands.
  
  A key meeting between the Blues and Kaka's father has been pencilled in for next week, after which the picture will become clearer.
  
  Carrick is not certain Kaka will eventually sign. But the former West Ham star would be delighted to see the former world footballer of the year in the Premier League, even if it was in the shirt of United's local rivals.
  
  "We want the best players in this league and he is definitely one of them," said Carrick.
  
  "It will be interesting to see what happens."
  
  Wigan manager Steve Bruce has pointed to the City offer for Kaka as another warning that football is in danger of losing touch with the man in the street.
  
  With City said to be prepared to offer AC Milan striker Kaka £500,000 a week and ticket prices continuing to rise while the economy heads in the other direction, Bruce fears for the future of the national game.
  
  Bruce, who takes his side to Eastlands on Saturday, is also worried the move could drive up player costs to unsustainable levels.
  
  He said: "The beauty of our game is that it means more to the average man in the street than anybody. I know the average man in the street now finds it very difficult to find £40-45 to go and watch a game.
  
  "When a big player is out there it does inflate your prices. You do worry about it and wonder if things could go belly up."
  
  Bruce added: "We are all staggered by the news. It is quite unbelievable when you are talking about a credit crunch throughout the world. But it just shows you what this Premier League is all about.
  
  "I think this year people thought the situation with finances would be a little bit more sensible.
  
  "But then along come the owners of Manchester City who want to have the best players in world at their club."
  
  However, Blackburn manager Sam Allardyce, who last week rejected a £16million bid from City for striker Roque Santa Cruz, believes the massive investment City are prepared to make could pay off if they break into the Premier League's top four.
  
  "There is only Manchester City that can spend it (£100million on one player)," he said.
  
  "Manchester United can't, Liverpool can't, Chelsea can't now by the looks of it.
  
  "The last few years it was (Chelsea's billionaire owner) Roman Abramovich and now we have got another one.
  
  "If there is going to be more to follow then only time will tell if spending that sort of money is the right thing to do.
  
  "If Manchester City end up challenging the big four then from their point of view it will be."
  
  Chelsea manager Luiz Felipe Scolari, who worked with Kaka during his time as coach of Brazil, offered no opinion on the size of the fee but insisted City would need more than money to convince him to sign.
  
  "Manchester City have money. Kaka is one of the best in the world on the pitch and off it. He is a fantastic player and they have money to spend. How much is it normal to pay? I don't know. He is a fantastic player," Scolari said.
  
  "I would not be surprised if he went to Manchester City. This is football. He is a professional player but maybe they offer to him not only money but an idea for the future. I know Kaka very well, money is not his problem."
  
  Fulham manager Roy Hodgson, former manager of Milan's city rivals Inter, said: "You're in the realms of lottery money and that's the way it is. If a club has £100million to spend and think that buying one player is the best way to improve their team then that's their business.
  
  "Richer clubs have always determined the market prices. At the moment £30million is the figure for a very good player to move from one Premiership club to another. In a few years that figure might be £100million."
  
  Portsmouth manager Tony Adams feels the potential deal will not help his club.
  
  He said: "It doesn't help us, that's for sure. It is not reality for us or most of the clubs up and down the country. It is a different world, a different planet. But that also brings another amount of pressure and stress having to deal with that.
  
  "I dropped my son off at school this morning and he loves playing those games - what if I had all this money, what would I do? - and the supporters out there do as well. It is certainly not my reality. The majority of the clubs are reducing their wages and reducing their expenditures."
  
  Spurs manager Harry Redknapp feels Manchester City fans will be delighted if the Brazil international moves to Eastlands.
  
  He said: "If you're a Man City supporter, I'm sure you're delighted to have someone like Kaka come to the club. It's an awful lot of money but if the owner wants to pay it, it's up to him. I'm sure Mark Hughes will be delighted to have a player like that at his football club."
  
  West Ham manager Gianfranco Zola does not think the move will go through.
  
  "It is a lot of money. It means they can afford it. It is difficult to judge them. They are willing to pay, so what can I say.
  
  "The whole transfer window is nonsense. It is not about dealing with players you have got and getting the best out of them. If I have lots of money then I can solve my problems by buying lots of players. I would cancel the window and push managers to work with what they have got.
  
  "It is a difficult thing for him (Kaka). I would not want to be in his place. He loves Milan and I think he will stay there."
  
  

And The Crisis Hits The Rich Soccer Owners!

I am huge soccer fan. Hence the following news clip was massive to me!

Published on Bloomberg News.

• Abramovich, Deripaska, Oligarchs Lose $230 Billion
  
  By Yuriy Humber, Greg Walters and Maria Kolesnikova
  
  Oct. 10 (Bloomberg) -- Russian billionaires from aluminum magnate Oleg Deripaska to soccer-club owner Roman Abramovich lost more than $230 billion in five months during the nation's worst financial crisis since the 1998 default on its debt.
  
  The combined wealth of Forbes magazine's 25 richest Russians tumbled 62 percent between May 19 and Oct. 6, based on the equity value of traded companies and analysts' estimates of closely held assets they own. The loss is four times larger than the fortune of the world's wealthiest man, Warren Buffett.
  
  Moscow's benchmark Micex stock index declined 61 percent since its peak in May. The global credit seizure, war with Georgia and falling commodity prices led foreign investors to pull $74 billion out of Russia since early August, according to BNP Paribas SA. While Russia's 1998 default and devaluation of the ruble eradicated savings for most of the population, this year's losses are wiping out its richest citizens' fortunes.
  
  ``There was a massive transfer of wealth into the hands of the oligarchs in 1998,'' said Mark Mobius, executive chairman of Templeton Asset Management Ltd., which has about $30 billion in emerging market stocks. ``Now it's going the other way.''
  
  United Co. Rusal's Deripaska, 40, the richest Russian on the list, lost more than $16 billion and in the past week ceded stakes in Hochtief AG and Magna International Inc. Chelsea FC owner and Evraz Group SA shareholder Abramovich, 41, lost $20 billion, based on assets excluding property and cash.
  
  Lisin's Losses
  
  The biggest loser has been Vladimir Lisin, 52, an avid hunter and head of Russia's Shooting Club, whose 85 percent stake in OAO Novolipetsk Steel lost $22 billion in value in the period.
  
  Novolipetsk rival Evraz declined 83 percent, shrinking 49- year-old founder Alexander Ambramov's fortune to $2.2 billion from $13.4 billion. Russia's biggest steelmaker, OAO Severstal, also fell, cutting the wealth of chief executive officer and majority owner Alexei Mordashov, 43, to $5.3 billion.
  
  ``They should take us all off the Forbes list,'' said Alexander Lebedev, ranked 39th by the magazine in May with $3.1 billion of wealth. Lebedev, 49, who owns 30 percent of state-run airline OAO Aeroflot, said in an interview on Sept. 23 that ``silly'' rhetoric by the Kremlin over the conflict in Georgia was responsible for 40 percent of the stock market's drop in August.
  
  Lukoil, Alfa
  
  OAO Lukoil Chief Executive Officer Vagit Alekperov, 58, saw his 20 percent stake in Russia's second-biggest oil producer decline to $7.2 billion from $19.5 billion. The fortune of Alekperov deputy Leonid Fedun, 52, declined to $3 billion from $8.4 billion. Both men have said they will continue to buy more Lukoil shares.
  
  Dmitry Rybolovlev, 41, who controls OAO Uralkali and owns 20 percent of OAO Silvinit, the country's only potash producers, lost about $12.8 billion, leaving him with $4.1 billion.
  
  Alfa Group partners Mikhail Fridman, 44, German Khan, 46, and Alexei Kousmichoff, 45, ranked seventh, 10th and 17th, respectively, lost at least a combined $12.1 billion.
  
  Alfa's shareholdings include BP Plc's Russian oil venture TNK-BP, mobile-phone operators OAO VimpelCom and Turkey's Turkcell Iletisim Hizmetleri AS, supermarket chain X5 Retail Group and television broadcaster CTC Media Inc.
  
  Spokespeople for companies including Deripaska's Basic Element, Evraz, Nikolai Tsvetkov's UralSib Financial Corp. and Rybolovlev's Uralkali declined to comment on the losses.
  
  Cashing Out
  
  At least one of Russia's wealthiest got out in time.
  
  Mikhail Prokhorov, 43, sold his 25 percent stake in OAO GMK Norilsk Nickel to Deripaska's Rusal for an undisclosed amount in April, just before nickel prices began to slump. The value of that stake plummeted from $13 billion on April 24 to $3.38 billion on Oct. 6.
  
  Prokhorov received $7 billion in cash as part of the Norilsk transaction, the Kommersant and Vedomosti newspapers reported then, citing unidentified people familiar with the deal.
  ``Are you criticizing me for feasting amid the Black Death,'' Prokhorov joked with reporters in Moscow on Sept. 30, after buying half of Renaissance Capital for $500 million. That was less than a quarter of the value the investment bank had a year ago when VTB Group sought to take it over, according to a Vedemosti report. ``Crisis time is a peak for opportunities,'' Prokhorov said. ``An absolute peak.''

Source: http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=a_xIo0TG12EI

Big, big OUCH for Chelsea!!!!!!!!!!!!!!!!!!

iCapital's Integrity Issue Gets Highlighted Again!

Blogger Seng has highlight this issue also on his blog: Sunday, ICAP vs icapital: Fund Manager vs Advisory Service Provider

Seng touches on the very urgency of this issue.

• Can we rely on our regulator to fix this apparent anomaly up?
  
  For example, has icapital crossed the line that allows regulator to take action?
  
  And what about icapital subscribers - have they suffered losses holding on to their stocks because icapital continued to call them a Buy/Hold?
  
  They paid good money for the services.
  
  Should all of these subscribers be made aware of this apparently anomalous action - that when icapital calls a Buy, the ICAP fund can also be actually Selling the same stock at the same time?
  
  Should regulators insist on this "Disclosure"?

Yes, how could the investment advisory maintains a BUY recommendation despite the fact that its fund management is SELLING that very same stock at the same time?

Where is the more ethics towards its readers, its subscribers who, as Seng pointed out, has paid substantial money each year?

Put it this way, if the fund management sees justified reasoning to SELL the stock, the investment advisory, from this very same company, should never contradict its fund management. Yes? This is what I strongly believes in. The investment advisory should always be true to its readers.

And if you read the blog posting again, iCapital: How Independent Is The Advice When They Hold Vested Interests In The Same Shares They Are Advising On?, I have highlighted what has happened to the said stocks after iCapital's disposals.

I have received other comments too which I want to highlight here for easy reading.

see said...

• Why don't anyone as a shareholder of icap just ask TTB point blank at the AGM about this issue. From my experience, TTB will be so long winded but vague on his outlook on the market in his publication then weeks later he will proclaim his outlook was correct but when I re-read what he wrote, he did not state clearly his outlook. Eveything so vague like "on one hand....on the other hand...." kind of writing& oh yes, he thinks very highly of himself, why do u think he prefers to hire fresh know-nothing grads other than grossly underpaying them. Meetings can drag on 3hours+ with him doing a monologue....yes, he is very arrogant but if his performance is good then I think he has earned bragging rights. On the deceit issue, wonder if it contravenes any SC rules ie talk up the market ....maybe someone should shed some light here.

I replied.

• Interesting comments.
  
  ....yes, he is very arrogant but if his performance is good then I think he has earned bragging rights.
  
  Hmm.. bragging rights because he is good?
  
  For me, yes performance as a fund manager is important but what is being done earns zero respect from me.
  
  The fuzziness between their investment advisory and their fund management is simply a farce.
  
  Where is their moral integrity as investment advisor when they can tell their readers to buy a stock while at the very same time, the fund management finds a justifiable reason to sell that very same stock?
  
  I would not be proud of myself if my performance is achieved in this manner. In fact, I will be deeply ashamed!

alpha said...

• Hi Moolah,
  
  You did a great job on ICAP. From my experience working with him, I didnt see the motto "independence, intelligence and integrity" in him. BUT I would like to stress that there are a lot more fun managers who are worse than him.
  
  SC should play a bigger role in bringing this issues to the light but it seems SC is doing its job half-heartedly. Things in Malaysia are not going to change if the regulatory bodies are not being made independent. This is more than just a transparency issue.
  
  What best we can do is do our own analysis? But even fundamentals can be faked? I have lost trust on analysing fundamentals of malaysian companies. Learning Technical Analysis would be a good way to insure ourself from unnecessary risks.

The Madviruz said...

• Is this the only instance of conflict of interest? No!
  Is it restricted only to Icap? No!
  Will this be the last? Again no! Will it continue? Oh, Yes!
  
  The so call interviews and expert opinions are usually a sham especially when the markets or stocks are at their turning points. Their aim is to get in or out before the public does.
  
  The most critical part of fund performance is to exit at the prime point in time; frequently the media amplify and assist them to stir or fry up demand for their exit.
  
  Independent report? or Con job?

Opine said...

• Hi Moola,
  
  With regards to your gripe, "Again my issue is very simple, how could the investment advisory make a totally independent investment advice when the very same company owns interest in the very same share?!"
  
  Maybe it's part of their "contrarian investing" strategy.
  
  On another note, an interesting article did come to mind :-
  
  Dare to be contrarian
  http://thestar.com.my/news/story.asp?file=/2008/3/8/bizweek/20548655&sec=bizweek
  
  Some noteworthy phrases from that article include :-
  
  -“Firstly, the subprime problem remains just that – subprime. Secondly, while many large financial institutions have been badly hit, the central banks have successfully averted a credit or liquidity crunch scenario. Thirdly, the US economy is certainly slowing down but a recession is only a possibility, and not certain.”
  
  -He says that many American companies are still producing stellar results, as their earnings are derived outside of US. Boeing for instance, is selling its planes to Asian and Middle Eastern companies. General Motors, Volkswagen and Tesco, are also international companies that have seen their profits rise despite the slowdown in the US economy.
  
  -“So what was essentially a two year old story was blown out of proportion, although on the level of the real economy, where businesses are actually running, the conditions are more or less normal.”
  
  -“The subprime problem is close to its peak. Banks have written off the debts and are now more transparent about their exposure to subprime. Most of the major losses have been announced. There may be one more round in the first quarter but after that, the worst should be over,” says Tan.
  
  -“It is time to be getting more optimistic on the US housing industry. While property prices generally may remain under pressure, housing starts should be behaving differently. To me, the risk to the US economy is on the upside,” he says.
  
  ------------------------------
  
  And many more numerous interesting snippets.
  Do not that the article was dated 8th March 2008.
  
  Well, one can construe whether whatever he said then rings true now, just about 5 months later or have things really gone from bad to worse.
  
  Latest updates on subprime and mortgage issues include, Fannie and Freddie reported or will be reporting huge losses, Citi and Merrill are being effectively "forced" by regulators to buy back billions of illiquid auction rate securities.
  We all know what happened and is still happening to GM.
  
  One can conclude that not only should they not hold vested interests in shares that they are advising about but also that their "contrarian" advice is really contrary to understanding the global economic situation.
  
  To put it simply, if they had followed their own advice then, they would be sitting on huge losses now.
  
  My two cents.
  
  Thank you.

My reply to Opine,

• Dearest Opine,
  
  One can conclude that not only should they not hold vested interests in shares that they are advising about but also that their "contrarian" advice is really contrary to understanding the global economic situation.
  
  Comments: Perhaps they really should evaluate this dual role of investment advisory and fund management in their group. Surely, the company has got to give up one of their role.
  
  I, for one, simply cannot understand it. If they can make so much money managing money, why does the company desperately want to maintain their investment advisory business?
  
  I really wonder why?
  
  Could it be that their investment advisory plays such a massive role in supporting whatever stocks the fund purchases?
  
  I wonder.

alpha said...

• Hi Moola,
  
  Interesting and provocative question on why does ICAP provides both investment advisory and fund management services. I think we all know the answer. This is just part of the game being played. ICAP is a very classic and obvious example.
  
  If you do a simple calculation on ICAP earnings (including investment advisory), the owner probably makes at least RM2-3 million a year. Not too bad for a fund manager like TTB with the bulk of commission also going to his pocket through his wife's remisier account. Mind you, CEOs of top notch companies in Malaysia are only getting around RM1 million a year.
  
  I urge the readers to do their own homework before investing in any stocks. Blindly following TTB is not the way for becoming successful in investing. Yes, there are a lot of crooks or fun managers out there who dont even bother to take risk and invest their own money into the fund, BUT you are responsible for what you are making.
  
  I suggest one read a book called "Market Panic", very enlightening for those who are interested in contrarian investing and understanding the game behind markets. Always remember, the market is a place for sharks to make money from the small fishes. Swim with shark if you wish to make money.
  
  Moolah has done great jobs in educating the public about serious investing. We all shall be very grateful with bloggers like him around.
  
  Thank you, Moolah.

Seng said...

• Dear alpha,
  
  I read with interest your comment which I quote here "...with the bulk of commission also going to his pocket through his wife's remisier account...."
  
  As I peruse ICAP's 2007 Annual Report in detail, I could not find this information being publicly disclosed in that report.
  
  To be fair, can you disclose the source of that data, that ICAP uses TTB's wife remisier account and thus pocket commissions?
  
  I think before we can make judgements, it is important to also consider the level of brokerages too - a discount may send a different type of message than a premium to market averages.
  
  Seng.

alpha said...

• Thanks for query. I dont have any hard and fast info to tell you that the commissions were pocketed by him.I am not sure and I have no idea of the quantum or the spread involved. Legally, I would think it seems alright as his wife would probably offer better rates.
  
  But it's purely my speculation. Therefore, I am ready to retract the "dubious" statement above to avoid confusion to readers. I'll be more objective and cautious in giving out comments next time.
  
  And I wish to reiterate that please do your own homework before investing. Fun managers are part of the equation. There are good and bad ones. TTB, although appears to have some sort of vested-interest business model, but somehow he has managed to beat the average fund managers out there.
  
  "Trade and invest at your own risk and never trust anyone (including myself)."
  
  I would love to share this quote with you all. From the legendary free-market economist, Adam Smith:It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest. Self-interest takes precedent for everything that happens in the world.

Comments:

Regarding Alpha's comments on the commission issue.

Since Alpha has not able to provide any proof, and Alpha has admitted that it's purely his speculation. I need to be fair to Mr.Tan and inform all readers to take note of this issue.

Liverpool 4 Arsenal 2

Did not sleep well, hence I decided to switch on the TV to watch the Champions League match between Liverpool and Arsenal.

Sixty minutes had been played and the score flashed Liverpool 1 Arsenal 1!

WOW!

Another 1-1? 4 times in a row?

Could it be?

The stats flashed that Diably had opened the scoring before Hypia equalised for Liverpool.

Less than 10 minutes later I was rewarded with a superbly taken goal. A route-one clearance from Reina bounced deep into the Arsenal terrority. Why wasn't the Arsenal defenders attacking (defending) the loose ball and worse still the ball was headed towards the Spanish tornado, Torres.

I counted four Arsenal defenders around Torres and I immediately thought it was yet another typical movement where they had Torres chasing after loose balls. What a waste of talent I thought.

Boy was I wrong.

Swiveling and checking back in one movement, Torres struck an incredible shot past Almunia!

Liverpool 2 Arsenal 1. Game over, I thought!

A couple of minutes later Adebayor was put through and on a one-on-one situation, he sliced the ball wide. Ade-Samson-Bayor, oh boy, you should not have cut your beautiful hair!

But then came redemption.

Of a corner, Gerrard had a chance to riffle in a long range shot but Theo stole the ball from him. I thought Gerrard was looking out of sorts then. Theo broke out. From his own half, Theo sprinted right for the Liverpool goal. For a a minute I thought I was watching Thiery Henry. Theo rode four challenges and I actually thought he might finished his incredible move by scoring. But no, he laid the ball across for Adebayor to get a chance for redemption. And Adebayor duly replied by tucking the ball neatly into the Liverpool net.

Liverpool 2 Arsenal 2!

That goal should have been good enough to win any matches, especially in a pulsating match like this.

But no. Life is never kind, for Arsenal at least.

Straight from the kick-off, Liverpool attacked Arsenal left wing again. That was sensible move because Arseanl was missing Sagna, who I thought was their better players this season. Kolo Toure playing at right back was simply clumpsy as he clearly barged Ryan Babel down in the penalty box.

And Gerrard put Liverpool ahead again by striking home the penalty.

Game over.

No way Arsenal could recover and a couple minutes later Babel scored Liverpool fourth of the night.

What a match.

Liverpool will now play Chelsea again in the semis.

Notes: From the match reports I read, Arsenal had an incredible start of the match and I guess things changed when Flamini left the match in the 40th minute due to injury!

Talking Balls?

I just realised I posted footie talk on this blog!

Yeah, I am pretty nuts about that game called footie and as you can tell, I am a Man United fan.

Over the weekend, Manchester United was extremely lucky against Everton. United was gifted by that moment of madness from Pineer. How could he stuck his foot out to the back is simply beyond comprehension. And Ronaldo duly slotted in the penalty kick for his second goal of the match.

Boy, Ronaldo is having a truly wonderful season.

The following video clip is a wonderful compilation done on Ronaldo.