'Common' 'wealth' "Games"

Really...
Angry, hurt, disappointed...

Nothing more to say..

Premier League Preview

The start of another season of the BPL beckons. After the excitement of the World Cup, it will be fun to get back to the bustle of club football. It harder to pick a winner this season as the gap between the top teams seems to be closing. Especially when clubs spend $100m in the transfer market.

Liverpool under new manager Roy Hodgson will be a far more stable now. Having managed to keep Gerrard and Torres is a big boost to their chances.

Tottenham Hotspurs will look to build on their last seasons performance. I think how far they progress in the Champions League will be inversely proportional to how well they do in the Premier League.

Manchester City have almost purchased a new team. Significant additions include David Silva, Yaya Toure, Mario Balotelli, Jerome Boateng and rumuors of more on the way. They seem to be a team with a mission and I reckon they have a great chance of finishing in the top four.

Arsenal have under achieved for a long time now. Five years without a trophy is unacceptable for a team of this repute. In my view they may slide further this season, and a finish in the top four looks challenging.

Chelsea and Manchester United, the perennial toppers are my favourites this time too. Chelsea have not made any significant addition to their squads but look formidable. Manchester United have added a couple of young strikers to their team, adding some solidity to the attack.

I am going to go with Manchester United winning this season.

An ode to EBITDA

Life was beautiful, naïve and innocent.

Profit simply meant Sales less cost,

So simple, so elegant, uncomplicated;

Then along the way came EBITDA,

Life suddenly changed, 

Light shone on the ignorant mind,

Then the winds of realization rocked my world,

Life would no longer remain the same.

Profit was no longer a simple concept,

Real value began to emerge, and

With it came WACC, ROCE and ROE.

Thus illuminating the darkness permanently.

Stock Market - Respect

A lot has been said and written about the anomalies of the stock market, its irrational exuberance driven by sentiment and liquidity. The inefficiencies are always highlighted and talked and written about, especially during a bear market when things are collapsing. The fact remains, that a market consists of various participants. While the speculators do create noise, the sane minds respect earnings.

Last week, the Supreme court declared its verdict on the Reliance gas controversy. It ruled in favour of Reliance Industry being able to sell the gas at government prescribed rate. 
The stock market reacted in an expected manner. Reliance Industry soared, RNRL and Reliance Power tanked. What is amazing is that the market capitalization lost and gained was almost equal.

This is the beauty of the stock market. It computed the value derived by one company and value lost to the other set of companies in a matter of hours. This is no coincidence, its the sheer power of rationality of the markets.
Its instances like these which makes you say, Respect...

Kasab Verdict

It took over 17 months for the trial to conclude. The decision seemed inevitable right at the outset, but the judge deliberated and heard arguments from both parties before passing his judgment.
"To be hanged till death"

Its a landmark judgment, not because of the complexity involved but the impact it has on the common man. For the unfortunate victims relatives, it is a step forward towards closure. It alleviates the grief of these folks and God alone knows that they deserve better.

The judgment also sends a message to terrorists; there is no honour in what they are doing and what they are trying to achieve. The end result, as it rightfully should be, is death without any dignity.

It also makes me feel proud to be an Indian. Nobody would have grudged us if we had shot Kasab on the fateful night or immediately thereafter. We were mature enough to allow are judicial system to play its part and reach a legal conclusion.

My prayers are with all those that suffered.

How sport helps an Economy

Sport is viewed in many dimensions across the world. It provides great entertainment to the public, career opportunities to the players, coaches and others associated (broadcasters, journalists etc). But we seldom look at it from an economy perspective. I believe that a huge sporting extravaganza is an economic kicker. You suddenly have an event which creates new avenue of enterprise at various levels.

Lets try and break it down, using the IPL as an example.

Direct Impact

1. Players - Earning significant salaries, which will eventually trickle into the economy
2. Broadcasters - Huge advertising revenue due to popularity of sport
3. Team Owners - Revenue generation through broadcasting rights, gate receipts and merchandise
4. Stadium / Venues - Match hosting fee
5. Government - Through tax receipts (In the context of IPL, this may not be entirely accurate

These stakeholders are direct beneficiaries of hosting a huge sporting event. Obviously the trickle down effect from each of these parties is significant. At an individual level, there wont be a significant impact to the above mentioned stakeholder (except for maybe the players) as most of them are fairly well off in their current life scenario.
The life altering impact is on a different set of people, mentioned below.

Associated Impact

1. Food Vendors - In and around the stadium there are large number of food / refreshment vendors who suddenly have an additional target audience ready to consume.
2. Merchandiser - The small guys manufacturing and selling jerseys, banners , placards, whistles, hats, accessories etc..
3. Event Management Firms - Organizing and managing such events is a professionals job
4. Tourism - Loyal fans travel along with teams they support

I may have missed out a few, but the point I am trying to make must be clear by now. It provides opportunity to a bunch of small guys to grow their business, expand their horizons and strive for more. These events also facilitate fans to consume more than they otherwise would have.
When the IPL shifted to South Africa last year, it generated over 1billion rand for the economy. That is the kind of impact sport makes.

Sport : Life

Year 1999:
Bayern Munich     - 1
Machester United - 2
(Manchester United score in the last few seconds of the game; Bayern Munich lead for most of the game)

Year 2010:
Bayern Munich     - 2

Machester United - 1
(Bayern Munich score in the last few seconds of the game; Manchester United lead for most of the game)


Sport is such a great leveler....... Don't get me started on life now....