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"I think I've lived long enough to see competitive Counter-Strike as we know it, kill itself." Summary of Richard Lewis' stream (Long)

I want to preface that the contents of this post is for informational purposes. I do not condone or approve of any harassments or witch-hunting or the attacking of anybody.
 
Richard Lewis recently did a stream talking about the terrible state of CS esports and I thought it was an important stream anyone who cares about the CS community should listen to.
Vod Link here: https://www.twitch.tv/videos/830415547
I realize it is 3 hours long so I took it upon myself to create a list of interesting points from the stream so you don't have to listen to the whole thing, although I still encourage you to do so if you can.
I know this post is still long but probably easier to digest, especially in parts.
Here is a link to my raw notes if you for some reason want to read through this which includes some omitted stuff. It's in chronological order of things said in the stream and has some time stamps. https://pastebin.com/6QWTLr8T

Intro

CSPPA - Counter-Strike Professional Players' Association

"Who does this union really fucking serve?"

ESIC - Esports Integrity Commission

"They have been put in an impossible position."

Stream Sniping

"They're all at it in the online era, they're all at it, they're all cheating, they're all using exploits, probably that see through smoke bug got used a bunch of times"

Match Fixing

"How many years have we let our scene be fucking pillaged by these greedy cunts?" "We just let it happen."

North America

"Everyone in NA has left we've lost a continents worth of support during this pandemic and Valve haven't said a fucking word."

Talent

"TO's have treated CS talent like absolute human garbage for years now."

Valve

"Anything that Riot does, is better than Valve's inaction"

Closing Statements

"We've peaked. If we want to sustain and exist, now is the time to figure it out. No esports lasts as long as this, we've already done 8 years. We've already broke the records. We have got to figure out a way to coexist and drive the negative forces out and we need to do it as a collective and we're not doing that."

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How To Value A Stock (From Someone Who Has Beaten The S&P Almost Every Year Since 2008)

I recently wrote this up for my friends who asked me how I do what I do. I figured I'd share it here. This is freely available to anyone who wants it, though please credit me if you simply copy/paste. Nothing here is novel, and can be done by anyone. I am not a financial professional, and the example given below is only Abbvie because I forgot that Abbott Labs was alphabetically the first in the S&P 500 when picking an example.
​
First, let’s come right out and say that if you do not have the time to do this, or do not find it enjoyable, just buy low-cost index funds that track either the total market or the S&P 500.
Second, let’s make an important distinction:
Investing – This is the act of purchasing assets for less than their intrinsic value. This PDF will focus on how to determine the intrinsic value of an asset that produces income. Note that for most assets, this is simply how much money you can extract from the asset over the period of time that you hold it for. There’s no other value than money in investing. Causes and emotions are what philanthropy is for.
Speculating – This is, at its core, the act of taking supply of an asset from the present to the future (by hoarding it). If there is more demand, lower supply, or both, this pays the speculator to take the asset from a period of low value to one of high value. It is not gambling, but is very difficult to do, since it entails taking on timing risk. It is not illegal, immoral, or impossible, but I have no special insight into it. I’ll leave it there.
Gambling – This looks a lot like speculation, but without any particular reason to believe the asset will be more valuable in the future. Speculators at least estimate the value of an asset to investors, as they are ultimately the end market for an asset. Do not gamble. Full stop.
Determining the intrinsic value of an asset
The value of an asset is simply the present value of all future income that asset can provide you. Since a dollar in five years is naturally less valuable than a dollar today, you have to discount future income against the opportunity cost of forgoing the dollars you invest today. When we get to the Present Value equation, this is represented by interest. It can also be thought of as the opportunity cost of investing in the asset instead of some other asset or simply consuming the dollars instead.
Here’s the actual math. Note that it’s not super hard, and while I will explain it, there are dozens of free websites that will quickly let you calculate this. The key phrase to Google would be “present value of a growing annuity calculator.”
PV = (C / i - G) * {1 – [(1 + G)/(1 + i)]^n}
PV = present value
C = cash flow per period
n = number of payments
i = interest rate
G = growth rate
The value for PV is your estimation of what the asset is worth today. If this ends up far higher than the market price, you are probably purchasing dollars for quarters. Avoid edge cases, as you are guessing about both the interest and growth rate.
C is the cash flow per period. If you have a high degree of confidence in the culture of the company and it has a long history of being good stewards of retained earnings, you can use the earnings per share (EPS). I usually use the dividend. It is impossible to fake or financially engineer a dividend, and requires less looking through financial documents to make sure it’s what it appears to be. But for, say, Apple or Microsoft or Chevron, feel free to use the EPS.
The number of payments is how many payments you expect while holding the asset. Dividends in American companies are typically quarterly (though some pay monthly or every six months, so check on that), so every multiple of four would represent one year if you choose to do it that way. If n = 16, then you’re expecting to hold the asset for 4 years. You can also put in a year’s worth of dividends and keep n = years rather than quarters.
I typically do n = 30, since 30 years is both a long time horizon that is realistic, and coincides when I will hit “retirement age.” You will have to decide how far ahead you’re planning. For most people, they are net purchasers of investments while working and net sellers while retired, so keep that in mind. Note that using years instead of quarters will lessen the amount of compounding, and will provide some cushion in case you’re wrong.
Interest is one of the two variables you have to guess at. Typically, one would put what you expect the actual long-run interest rate to average for this investment. Unfortunately, this is really difficult. Instead, I use a rate that represents my opportunity cost. There are any number of relatively safe ways to get a 5% yield on money invested, so I generally use i = 5% to represent that this asset has to perform better than a utility or telecom or real estate investment trust. Feel free to use what you feel is most appropriate for you. A higher interest rate will lower the value of the asset, so high-balling this number will provide some cushion in case you’re wrong.
The second variable you have to guess at is the growth rate. If you’re looking at the dividend, you want to know how fast to expect it to grow over time. If you’re using the EPS for C, then you want to see how quickly the total earnings are growing per share. This is extremely difficult to predict. I recommend taking the 5-year growth rate and halving it. Dividends will also be more predictable here, as most companies pay out far less than they make, which means even if EPS grows slowly, the dividend can still grow quickly for many years after a boom is over for the company. Note that lowering your estimate for G will lower the value of the asset, so low-balling this number will provide some cushion in case you’re wrong.
OK, so let’s walk through an example. I’ll use Abbvie, a biotech/pharmaceutical company. It has a quarterly dividend for the coming year of $1.30/share. Its dividend has an 18.5% growth rate over the last 5 years, and has grown it for the last 7 (it’s only been around for 8 years).
I assumed a growth rate (G) of 7%. I used $5.20 as the starting dividend this coming year and used years for my n = 30. As always, I used i = 5%.
This gave me an estimated present value of 1 share of Abbvie at $197.94. As of writing this, Abbvie shares are trading on the market at $103.43. This looks like a screaming buy, but first let’s look at why I have a high degree of confidence.
Note how the interest was higher than the going rate – I used my “low-risk alternative” as an opportunity cost. Abbvie has an extremely high rate of growth for its dividend, so I took less than half of its current rate. I also calculated annually rather than quarterly, which reduces the impact of high rates of growth. That’s three places in the equation where I consciously lowered the estimated value of a share of Abbvie, and it still came out as a strong buy – spending less about 50c for a dollar!
I do this because even if I’m wrong in some or all of my predictions, I now have quite a bit of room to be wrong and still make money. It’s like how you don’t walk next to a steep cliff, right? You should know how to walk where you want to, but there’s always the small chance something could cause you to slip or put a foot wrong. But if your plan is always to be 5 feet away from the edge of the cliff, the odds are that you’ll not go over the edge even if you fall down.
Many people feel this is over cautious. But let my portfolio speak for itself. I’ve beaten the S&P 500 index fund every year except one since 2008. My brokerage only keeps digital records back to Dec 2015, but the S&P 500 returned 101% since then – with dividends reinvested. My own portfolio has returned 256%.
So caution is still very high reward. In fact, if you just don’t lose, you’ll do better than the vast majority of professional money managers (about 85% of whom cannot even match the index funds).
Due diligence still has to occur
Now, we can’t just go straight out and buy Abbvie – though it’s a high profile company that receives lots of investor and regulator scrutiny so it’s less likely to have a landmine than most. Just to make sure, you’ll want to do the following before buying shares in this company:
-Check the debt load. If the debt is very high, has very high interest rates, or has a lot of it maturing very soon, then this is a yellow flag. It doesn’t mean don’t buy, but make sure you understand the structure of the company’s debt and make sure it won’t impair the company’s earnings going forward. This information is found on the balance sheet. Abbvie has $97.287 billion in long-term liabilities such as debt, pension liability, and deferred taxes. That’s a lot compared to their assets, but they also are owed some money, so it nets out about $90 billion.
-What’s the book value? Book value is fairly low at $8.65/share. This is pretty much the assets minus the liabilities. Abbvie is in a knowledge industry, however, so you shouldn’t expect their main assets to be physical capital that can be sold. It’s mostly organizational or human capital from their workforce, so this isn’t worrying. If Abbvie was, say, a retailer with stores and land and inventory, you’d want this to be much, much higher for the share price. There’s no easy way to judge this one, unfortunately, but it’s good to look it up and you’ll eventually get a feel for it. No red flags here.
-What are the catastrophic risks that even you or I could think of? For a company in the pharmaceutical space, the obvious answer is regulatory and political risk. Regulatory risk is just want it sounds like – more regulation which can be either costly to comply with or lower profits. This does have an upside, which is that it makes it harder for new competitors to enter a market, so I tend to be rather sanguine about regulatory risk. Political risk is much more severe. This is when politicians decide to either confiscate a company, target it specifically rather than the industry it’s in, or other ways in which the government is involved with taking rather than regulating. In Anglo countries (US/UK/Canada/Australia), the rule of law is typically strong enough that this doesn’t happen much, as there is usually some kind of due process. Places like China, Argentina, Russia, and the EU are much more likely to nationalize or otherwise capriciously penalize a company due to the prevailing political winds. Abbvie has a global footprint, but that also means it’s diversified against such risk. It’s headquartered in the US, so it’s unlikely someone will simply take the entire company.
-Payout ratio? Abbvie has a fairly high payout ratio (80% for the last completed fiscal year of 2019), as they have been aggressively growing the dividend. That’s another good reason to input a much lower G than the last few years. That being said, Abbvie has been around for 8 years (it was spun off of Abbott Labs) and has grown its dividend for the last 7 years and has announced it will this coming year as well. The payout ratio is pretty high, but not worrisome. It suggests a fairly mature company that’s now returning cash to shareholders. I’d say this is not nothing, but less than a yellow flag for me. Any company with 95%+ payout ratio is much more vulnerable to a dividend cut.
-Credit rating? S&P gives Abbvie a BBB+ grade for its unsecured debt. This is a slight downgrade because their balance sheet is currently digesting a big acquisition from early 2020 (Allergan). Moody’s gives it a Baa2 rating for unsecured debt. These are both good, solid, investment-grade credit ratings (if you were buying the bonds of Abbvie). This looks great.
-Does it need a genius? Some companies run on all cylinders because they have a genius at the helm – often a founder. But what you want is a company any dummy can run, because sooner or later any dummy will. Don’t plan to invest long-term in companies that require skilled management. Abbvie is fairly diversified and has an OK pipeline of research. They also can buy little biotech companies that invent something but can’t navigate the regulations to bring it to market. So pondering giants are actually a good thing. Means they’re hard to break.
So, given that there was nothing obviously treacherous in our basic due diligence, and the extreme discount at which our example is selling for, this would be one you might want to buy! This is what I do for all the companies I invest in.
Notice that there is no story, no excitement, no narrative, no counting on good or bad management. Emotion has no place in investing. You also will notice that we took every opportunity to reduce the risk of losing your capital by always sandbagging the estimated value of the company. You never want to pick up nickels in front of a steamroller. You want the investment to be so obvious it hits you in the face like a baseball bat. If you’re ever on the fence, don’t do it. You don’t have to hit home runs – just don’t strike out.
You can be even more conservative in your estimates than I am. If, for instance, you used 5% growth rate for Abbvie’s dividend, you’d still get a present value of $148.57/share vs the current market price of $103.43. Similarly, you could use a higher interest rate, which would also lower the estimated present value.
You may have to do this calculation with more companies to find one to buy, but even in a very expensive market like today’s, there is always an opportunity. You don’t even have to look at little companies. There’s around 500 companies in the S&P – just start with “A” and work your way through all of them.
A quick note about further reading: I very strongly urge most people to actually read as little as possible on this subject once they get the basics. That’s not because there’s not more to learn, but because I would sadly say the majority of what I see and hear is actively bad advice. But if you do want to keep up with financial news and books and chat boards, the best thing to do is find out what the historical returns of the person giving advice are.
Since WWII, the long-run return on the S&P 500 has generally been just a bit shy of 10% per year. If someone can’t beat that, year-in-and-year-out, then their advice is worthless. As in, you don’t want to accidentally absorb it. This is, unfortunately, true for most professionals. Over the last 15 years, 92.2% of actively managed funds have underperformed a simple S&P 500 index fund (and they charge you fees for the privilege). Beware anyone selling something. The advice here is given freely
That’s why I made a point of mentioning that I have and regularly outperform the standard fund almost every year. Granted, I don’t have many of the regulatory restrictions a public fund would have, but it shows how useful the advice I’m giving here is. You don’t need anything fancy. You don’t need anything high risk. I’ve done this through two deep recessions and the longest bull market in history.
If you want to learn more about investing in general and where I learned how to do this, you can read Benjamin Graham’s The Intelligent Investor. It was written in the 1930s, so much of the technical information is out of date. Skip over that and just read it for the concepts.
Even easier reading is to go online to Berkshire Hathaway’s website and pull Warren Buffett and Charlie Munger’s annual letter to shareholders. Almost all of them have something useful in them and don’t make you do equations.
I am available for questions in the comments
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7 books that took us to $150k in 45 days

Like most of you reading this, I’ve read too many terrible marketing & startup-related books.
Growth Hacker? I suppose it was okay, for it’s time.
This Is Marketing? Took nothing from it.
Traction? It could have been summed up in a blog post.
After searching for ‘Top 10 Marketing Books’ and reading everything I could find on those lists over the last few years, I’ve stopped buying marketing books because almost everyone was either aimed at beginners, were written as a lead-magnet with the aim of selling you consulting or a course, or they simply were written without anything actionable that I could actually ‘use’.
Like many during the last 9 months, my agency moved out of our office and we have worked entirely from home. A positive that came from that I started to read way more often, usually aiming for a book a week.
The first book I read was a gift that I received a couple of years back and had been on my shelf collecting dust ever since. It was the only book that I owned which I hadn’t already read, so to make things simple I started with that. It was The Brand Gap by Marty Neumeier.
It absolutely blew me away.
I read it from cover to cover in one sitting and then read it again the following week. I told everyone that would listen: “The Brand Gap is the single most important book I’ve ever read”.
After this, I spoke to friends working in branding, design, copywriting, and project management and asked for book recommendations. I specified that I didn’t want books that only scratched the surface, I wanted to read the books that changed their entire mindset and way or working.
I ended up with a huge reading list (and a few shelves full of books) which I worked my way through over the last few months. There was no filler, and nothing I’d consider to be average — I gained something significant from every single book.
I’ve compiled a list of seven of the books which I’d consider to have had the biggest impact on me.
For each book mentioned I’ll include a link to Bookshop, along with a testimonial and some of the book description.
1. The Brand Gap — Marty Neumeier
“A well-managed brand is the lifeblood of any successful company. Read this book before your competitors do!” ―TOM KELLEY, GENERAL MANAGER, IDEO
THE BRAND GAP is the first book to present a unified theory of brand. The second edition features a 220-term brand glossary and a premium softcover binding. Whereas most books on branding are weighted toward either a strategic or creative approach, this book shows how both ways of thinking can unite to produce a “charismatic brand” — a brand that customers feel is essential to their lives.
2. Everybody Writes — Ann Handley
“All your shiny new channels, properties, and platforms are a waste of space without smart, useful content. Ann Handley’s new book helps make every bit of content count — for your customers and your bottom line.” — Kristina Halvorson, President, Brain Traffic
If you have a website, you are a publisher. If you are on social media, you are in marketing. And that means that we are all relying on our words to carry our marketing messages. We are all writers.
Everybody Writes is your go-to guide to attracting and retaining customers through stellar online communication, because in our content-driven world, every one of us is a writer.
3. How Brands Grow: What Marketers Don’t Know — Byron Sharp
“…marketers need to move beyond the psycho-babble and read this book… or be left hopelessly behind.” — Joseph Tripodi, The Coca-Cola Company
Professor Byron Sharp is the Director of the Ehrenberg-Bass Institute for Marketing Science at the University of South Australia. The Institute’s fundamental research is used and financially supported by many of the world’s leading corporations including Coca-Cola, Kraft, Kellogg’s, British Airways, Procter & Gamble, Nielsen, TNS, Turner Broadcasting, Network Ten, Simplot, Mars and many others.
4. D&AD. The Copy Book
“The Copy Book convinced me that everyone in business should study the art of copywriting.” — Fortune.com
The book features a work selection and essays by 53 leading professionals in the world, including copywriting superstars such as David Abbott, Lionel Hunt, Steve Hayden, Dan Wieden, Neil French, Mike Lescarbeau, Adrian Holmes, and Barbara Nokes.
The lessons to be learned on these pages will help you create clearer and more persuasive arguments, whether you are writing an inspiring speech, an engaging web banner or a persuasive letter. This is not simply a “must-have” book for people in advertising and marketing, it is also a “should-have” for anyone who needs to involve or influence people, by webpage, on paper, or in person.
5. Junior: Writing Your Way Ahead in Advertising — Thomas Kemeny
“If my older and wiser brother were an ad book, these would be his exact words. If he’d ask me to wash his filthy car every Sunday in exchange for his wisdom, I’d say ‘No problem, ‘ knowing I got the better end of the deal.” — PAUL MALMSTROM, Creative Chairman and Co-Founder, Mother
There are a lot of great advertising books, but none that get down in the dirt with you quite like this one. Thomas Kemeny made a career at some of the best ad agencies in America. In this book he shows how he got in, how he’s stayed in, and how you can do it too. He breaks apart how to write fun, smart, and effective copy-everything from headlines to scripts to experiential activations-giving readers a lesson on a language we all thought we already knew.
6. Hey, Whipple, Squeeze This: The Classic Guide to Creating Great Ads — Luke Sullivan
“Classic must-read Sullivan mixed with innovation master Boches make the perfect duo. This is the book that will help guide new talent to great career starts. Required reading for a new era.” — Deborah Morrison**,** Distinguished Professor of Advertising, University of Oregon
Hey Whipple, Squeeze This has helped generations of young creatives make their mark in the field. From starting out and getting work, to building successful campaigns, you gain a real-world perspective on what it means to be great in a fast-moving, sometimes harsh industry. You’ll learn how to tell brand stories and create brand experiences online and in traditional media outlets, and you’ll learn more about the value of authenticity, simplicity, storytelling, and conflict.
7. Positioning: The Battle for Your Mind — Al Ries, Jack Trout
The first book to deal with the problems of communicating to a skeptical, media-blitzed public, Positioning describes a revolutionary approach to creating a “position” in a prospective customer’s mind-one that reflects a company’s own strengths and weaknesses as well as those of its competitors.
“…Ries and Trout taught me everything I know about branding, marketing, and product management. When I had the idea of creating a very large thematic community on the Web, I first thought of Positioning….” — David Bohnett, Chairman and Founder of GeoCities
So, there you have it. It’s worth nothing, my list above is just that; my list. I’m sure there are plenty of people that read books from that list and for whatever reason, it just didn’t resonate with them in the same way that Growth Hackersdoesn’t do it for me, either. These are simply the books I’d consider to be game-changing, and now recommend them to anyone working in marketing & e-commerce.
Got a book recommendation? I’d love to hear! Share some recommendations below.
submitted by otaota to startups [link] [comments]

7 books to transform your marketing

Like most of you reading this, I’ve read too many terrible marketing & startup-related books.
Growth Hacker? I suppose it was okay, for it’s time.
This Is Marketing? Took nothing from it.
Traction? It could have been summed up in a blog post.
After searching for ‘Top 10 Marketing Books’ and reading everything I could find on those lists over the last few years, I’ve stopped buying marketing books because almost everyone was either aimed at beginners, were written as a lead-magnet with the aim of selling you consulting or a course, or they simply were written without anything actionable that I could actually ‘use’.
Like many during the last 9 months, my agency moved out of our office and we have worked entirely from home. A positive that came from that I started to read way more often, usually aiming for a book a week.
The first book I read was a gift that I received a couple of years back and had been on my shelf collecting dust ever since. It was the only book that I owned which I hadn’t already read, so to make things simple I started with that. It was The Brand Gap by Marty Neumeier.
It absolutely blew me away.
I read it from cover to cover in one sitting and then read it again the following week. I told everyone that would listen: “The Brand Gap is the single most important book I’ve ever read”.
After this, I spoke to friends working in branding, design, copywriting, and project management and asked for book recommendations. I specified that I didn’t want books that only scratched the surface, I wanted to read the books that changed their entire mindset and way or working.
I ended up with a huge reading list (and a few shelves full of books) which I worked my way through over the last few months. There was no filler, and nothing I’d consider to be average — I gained something significant from every single book.
I’ve compiled a list of seven of the books which I’d consider to have had the biggest impact on me.
For each book mentioned I’ll include a link to Bookshop, along with a testimonial and some of the book description.
1. The Brand Gap — Marty Neumeier
“A well-managed brand is the lifeblood of any successful company. Read this book before your competitors do!” ―TOM KELLEY, GENERAL MANAGER, IDEO
THE BRAND GAP is the first book to present a unified theory of brand. The second edition features a 220-term brand glossary and a premium softcover binding. Whereas most books on branding are weighted toward either a strategic or creative approach, this book shows how both ways of thinking can unite to produce a “charismatic brand” — a brand that customers feel is essential to their lives.
2. Everybody Writes — Ann Handley
“All your shiny new channels, properties, and platforms are a waste of space without smart, useful content. Ann Handley’s new book helps make every bit of content count — for your customers and your bottom line.” — Kristina Halvorson, President, Brain Traffic
If you have a website, you are a publisher. If you are on social media, you are in marketing. And that means that we are all relying on our words to carry our marketing messages. We are all writers.
Everybody Writes is your go-to guide to attracting and retaining customers through stellar online communication, because in our content-driven world, every one of us is a writer.
3. How Brands Grow: What Marketers Don’t Know — Byron Sharp
“…marketers need to move beyond the psycho-babble and read this book… or be left hopelessly behind.” — Joseph Tripodi, The Coca-Cola Company
Professor Byron Sharp is the Director of the Ehrenberg-Bass Institute for Marketing Science at the University of South Australia. The Institute’s fundamental research is used and financially supported by many of the world’s leading corporations including Coca-Cola, Kraft, Kellogg’s, British Airways, Procter & Gamble, Nielsen, TNS, Turner Broadcasting, Network Ten, Simplot, Mars and many others.
4. D&AD. The Copy Book
“The Copy Book convinced me that everyone in business should study the art of copywriting.” — Fortune.com
The book features a work selection and essays by 53 leading professionals in the world, including copywriting superstars such as David Abbott, Lionel Hunt, Steve Hayden, Dan Wieden, Neil French, Mike Lescarbeau, Adrian Holmes, and Barbara Nokes.
The lessons to be learned on these pages will help you create clearer and more persuasive arguments, whether you are writing an inspiring speech, an engaging web banner or a persuasive letter. This is not simply a “must-have” book for people in advertising and marketing, it is also a “should-have” for anyone who needs to involve or influence people, by webpage, on paper, or in person.
5. Junior: Writing Your Way Ahead in Advertising — Thomas Kemeny
“If my older and wiser brother were an ad book, these would be his exact words. If he’d ask me to wash his filthy car every Sunday in exchange for his wisdom, I’d say ‘No problem, ‘ knowing I got the better end of the deal.” — PAUL MALMSTROM, Creative Chairman and Co-Founder, Mother
There are a lot of great advertising books, but none that get down in the dirt with you quite like this one. Thomas Kemeny made a career at some of the best ad agencies in America. In this book he shows how he got in, how he’s stayed in, and how you can do it too. He breaks apart how to write fun, smart, and effective copy-everything from headlines to scripts to experiential activations-giving readers a lesson on a language we all thought we already knew.
6. Hey, Whipple, Squeeze This: The Classic Guide to Creating Great Ads — Luke Sullivan
“Classic must-read Sullivan mixed with innovation master Boches make the perfect duo. This is the book that will help guide new talent to great career starts. Required reading for a new era.” — Deborah Morrison**,** Distinguished Professor of Advertising, University of Oregon
Hey Whipple, Squeeze This has helped generations of young creatives make their mark in the field. From starting out and getting work, to building successful campaigns, you gain a real-world perspective on what it means to be great in a fast-moving, sometimes harsh industry. You’ll learn how to tell brand stories and create brand experiences online and in traditional media outlets, and you’ll learn more about the value of authenticity, simplicity, storytelling, and conflict.
7. Positioning: The Battle for Your Mind — Al Ries, Jack Trout
The first book to deal with the problems of communicating to a skeptical, media-blitzed public, Positioning describes a revolutionary approach to creating a “position” in a prospective customer’s mind-one that reflects a company’s own strengths and weaknesses as well as those of its competitors.
“…Ries and Trout taught me everything I know about branding, marketing, and product management. When I had the idea of creating a very large thematic community on the Web, I first thought of Positioning….” — David Bohnett, Chairman and Founder of GeoCities
So, there you have it. It’s worth nothing, my list above is just that; my list. I’m sure there are plenty of people that read books from that list and for whatever reason, it just didn’t resonate with them in the same way that Growth Hackersdoesn’t do it for me, either. These are simply the books I’d consider to be game-changing, and now recommend them to anyone working in marketing & e-commerce.
Got a book recommendation? I’d love to hear! Share some recommendations below.
submitted by otaota to marketing [link] [comments]

Can someone put this on WSB for me- they have upped their BOTS and new accounts cant post at all

Sir, this is (Literally) a Casino. This is not Advice DO YOUR OWN DD
What do WSB and LVS have in common- Autists trying to make cash and make it quick.
Now, the pandemic has slowed down Casino’s of the like due to social distance measures and lack of tourism. LVS has casinos all over the world from Vegas, to Macao to Singapore. They’ve been hit hard but there is a light of hope. Because, regardless of a recession, depression or a pandemic people will always gamble. They've got no money? They will find $10 and hope it turns into a $100.
Here we go, let's get horns-
Prelude- This is the company that owns that Huge Building in Singapore shaped like a cruise ship in the sky and charged me $40 for a bottle of water with dinner.
#1 MGM was upgraded but research houses reduced Las Vegas Sands due to their Asia exposure?
I am sorry, what? Have you seen Asia? They are literally throwing festivals in China, Japan, Singapore and Australia etc. If you have ever been to a Asian country you will find that they love to Drink, Smoke and Gamble. I feel if you are going into a Casino/gambling company you NEED Asian Exposure. I could continue for many points on Asian casino’s but I’d lose concentration.
#2- Dr Michael Burry, He is at it again, its no lie, I love him. He only has 2% of his portfolio invested in LVS but hey, he only had 4.3% in the stock that mustn't be named.
Side note- Burry tweeted during the Superbowl about Covid 19 becoming an Endemic and wonders when markets will realise this. This seems Bullish to me. But my smooth Brain could be wrong
#3 The House Always wins. People are going to come back, business will boom again and people are going to bet harder than they have before and the house always wins.
#4 Hotels, Dining, Entertainment, Conventions and Exhibitions will all be sort after activities.
Sands have a finger in each of these pies.
#5 Online Casinos- there’s been rumors about them moving into deals with online casinos- which could future proof anything along the lines of this pandemic again as well as increasing their reach to a digital level. In fact, they have targeted 888 Holdings.
https://www.casino.org/news/las-vegas-sands-could-make-run-at-888-holdings-to-move-into-igaming/
#6 Investing in themselves They aren’t afraid to spend money- they're about to invest another $10b into Macau. Quote from earnings call-
· “When the Macanese government makes its decision I think we will continue upon a rather solid capital investment which I know is how Sheldon felt, to grab that opportunity with both hands.”
· “There is just no place like Macau [and] we’re not done in Macau. We’re going to be there for many more years.
· “When all this goes away, I bet one thing that will happen is the Macau government is going to necessitate that licensees make investments in Macau and we want to be there and be ready.”
· Noting that LVS is already in the midst of a US$3.3 billion expansion of its Marina Bay Sands property in Singapore, Goldstein observed, “These are not small investments, they are in the billions of dollars, so we have to be prepared for outside investments in our best markets, which are Macau and Singapore for crazy growth.”
#7 Numbers
· Earnings forecast to grow 88% vs 70% industry/20% market
· Volatility over the past 3 months has been low compared to rest of market.
· Forecast to become profitable over the next 3 years
· Revenue forecast to grow 33% per year- which is 3 times faster than the US Market (10.6%)
· ROE forecast at 47%
Numbers are from SimplyWallSt.com
This isn’t advice, please do your own DD.
Inb4 “Ok Boomer” Still on the pokemon train
TLDR
· House always wins
· Dr Burry
· Asia most likely to be back to normal before the US
· Hotels, Casinos, Entertainment, Dining will continue to go off in Asia
· Online Casino’s partnership/acquisitions
· They are seeking growth and lots of it.
Positon- 180 Shares
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TEKK - Tekkorp Digital Acquisition Corp: Who's Who of Gaming Mgmt Teams!

Team has been involved in a substantial number of the digital media, sports, entertainment, leisure and gaming industries’ most significant merger and acquisition transactions, holding key positions at, and transacting with Scientific Games Corp, Inspired Gaming Group, FOX Bets, Ocean Casino Resort, Resorts International Holdings, PokerStars, DraftKings, Mohegan Sun, Caesars Entertainment Corporation, Harrah’s Entertainment, Tropicana Entertainment, Inc., TSG/Sky Betting & Gaming, Facebook, Inc, Wynn Resorts, Dubai World/MGM Resorts
Here's all the Bios. These guys are stellar! TEKK closed at $10.30 today. Still cheap!
If you don't like to read... you don't like to make money!!!!
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Matthew Davey — Chief Executive Officer and Director
Mr. Davey has over 25 years of experience within the digital media, sports, entertainment, leisure and gaming ecosystems, as well as experience in the public sector. He is an experienced public company executive officer and board member. He has served in executive management positions across the gaming technology arena. Over the course of Mr. Davey’s career, he oversaw more than ten mergers and acquisitions and over $1.2 billion in debt and equity capital raised to support the companies he has led.
Most recently, Mr. Davey was Chief Executive Officer of SG Digital, the Digital Division of Scientific Games Corp. (“Scientific Games”) (Nasdaq: SGMS). SG Digital was established following the purchase by Scientific Games of NYX Gaming Group Limited (“NYX”) (formerly TSXV: NYX), where Mr. Davey served as Chief Executive Officer and Director. The NYX acquisition provided Scientific Games with a vehicle to significantly accelerate the scale and breadth of its existing digital gaming business, including the strategic expansion into sports betting. In his capacity as Chief Executive Officer of NYX, Mr. Davey developed and implemented a corporate strategy that generated strong revenue growth. Mr. Davey shaped company strategy to focus on digital gaming supplier platforms and content that provided various gaming operators with the underlying gaming and sports betting systems for their online gaming business. In 2014, Mr. Davey oversaw the initial public offering of NYX, and his experience in the digital media, sports, entertainment, leisure and gaming industries helped NYX recognize momentum as a public company. After the public offering, from 2014 to 2018, Mr. Davey oversaw seven acquisitions which helped establish NYX as one of the fastest growing global B2B real-money digital gaming and sports betting platforms. These acquisitions included:
• OpenBet: In 2016, NYX completed the $385 million acquisition of OpenBet. This was one of the more complex and transformative acquisitions that Mr. Davey oversaw at NYX. Through securing co-investments from William Hill (LSE: WMH), Sky Betting & Gaming and The Stars Group (formerly Nasdaq: TSG, TSX: TSGI), Mr. Davey was able to get the acquisition from Vitruvian Partners completed successfully, winning the deal against much larger and well capitalized competitors. By combining two established and proven B2B betting and gaming suppliers, NYX was well positioned to provide customers with exciting player-driven solutions across all major product verticals and distribution channels. This allowed NYX to become the leading B2B omni-channel sportsbook platform in the market and the supplier to over 300 gaming operators globally with an extensive library of desktop and mobile game titles, including more than 700 on NYX platforms and more than 2,000 on the OpenBet platform.
• Cryptologic/Chartwell: In 2015, NYX completed the $119 million acquisition of Cryptologic and Chartwell. The acquisition provided NYX with more than 400 titles of additional leading gaming content, a broader customer base, and direct exposure to PokerStars and Intercasino, part of the Gamesys Group (LSE: GYS) — two of the world’s largest online casino offerings.
• OnGame: In 2014, NYX completed the distressed acquisition of OnGame, a premier poker content, platform and service provider. This acquisition provided NYX with one of the best poker products in the industry, access to several regulated jurisdictions, and a valuable talent pool that was instrumental in the growth of NYX. The addition of OnGame further established a path for NYX to continue its growth in both European and U.S. markets.
These acquisitions, together with meaningful organic growth, increased NYX’s revenue from $24 million in 2014 to $184 million annualized in 2017. During that time, Mr. Davey helped build NYX to have over 200 customers in the global gaming industry and a team of 1,000 employees. Mr. Davey’s success at NYX ultimately led to its sale to Scientific Games for $631 million in 2018.
Mr. Davey joined Next Gen Gaming, the predecessor to NYX, in 2000 as the Vice President of Technology, was appointed as Executive Director in 2003 and named Chief Executive Officer in 2005. Prior to that, he was the Senior Consultant for Access Systems, a company that specializes in the provision of back-end software for licensed online casinos. Prior to joining Access, Mr. Davey worked for the Northern Territory Government specializing in matters pertaining to the internet and e-commerce along with roles in the Department of Racing and Gaming. Mr. Davey received a Bachelor of Electrical & Electronic Engineering from Northern Territory University, Australia (also known as Charles Darwin University).
Robin Chhabra — President
Mr. Chhabra has been at the forefront of corporate acquisition activity within the digital gaming landscape for over a decade. His prior experience includes leading corporate strategy, M&A, and business development at two of the global leaders in the digital gaming industry, The Stars Group (“TSG”) and William Hill, and a leading supplier, Inspired Gaming Group (Nasdaq: INSE). Mr. Chhabra served on the Group Executive Committees of each of these companies. From 2017 to May 2020, Mr. Chhabra served as Chief Corporate Development Officer at TSG and, from 2019 to August 2020, he also served as the Chief Executive Officer of Fox Bet, a leading U.S. online gaming business which is the product of a landmark partnership between TSG and FOX Sports, a transaction which he led. During that period, Mr. Chhabra led several transactions which transformed TSG into the largest publicly listed online gambling operator in the world by both revenue and market capitalization and one of the most diversified from a product and geographic perspective with revenues of over $2.5 billion. Mr. Chhabra’s M&A experience is extensive and covers multiple global geographies across the digital gaming value chain and includes the following:
• TSG/Flutter Entertainment Merger: In 2019, Mr. Chhabra led the TSG M&A team that was responsible for TSG’s $12.2 billion merger with Flutter Entertainment (LSE: FLTR). The merger between TSG and Flutter Entertainment is the largest transaction in the digital gaming industry to date. The combination created the largest publicly listed online gaming company with approximately 13 million active customers and leading product offerings, which include sports betting, online casino, fantasy sports and poker. The combined entity includes some of the world’s most iconic digital gaming brands such as Fanduel, Fox Bet, Sky Bet, PaddyPower, Betfair, PokerStars and SportsBet. TSG/Flutter Entertainment is one of the most geographically diverse digital gaming and media companies with leading positions in the United States, United Kingdom, Australia, Ireland, Italy, Spain, Germany and Georgia.
• TSG/Sky Betting and Gaming (“SBG”): In 2018, Mr. Chhabra led the acquisition of SBG from CVC Capital Partners and Sky plc, Europe’s largest media company, in a transaction valued at $4.7 billion. At the time of the acquisition SBG was the largest mobile gambling operator in the United Kingdom and one of the fastest growing of the major operators having doubled its online market share in three years. The acquisition of SBG provided TSG with (a) greater revenue diversification, significantly enhanced expertise and exposure to sports betting just ahead of the judicial overturn of The Professional and Amateur Sports Protection Act of 1992 (PASPA) by the U.S. Supreme Court, (b) a leading position within the United Kingdom, the world’s largest regulated online gaming market, (c) improved products and technology as a result of the addition of SBG’s innovative casino and sports book offerings and a portfolio of popular mobile apps, and (d) expertise in deeply integrating sports betting with leading sports media companies, positioning TSG to create more engaging content, deliver faster growth and decrease customer acquisition costs.
• William Hill (LSE: WMH): At William Hill, from 2010 to 2017, Mr. Chhabra served as Group Director of Strategy and Corporate Development where he led several transactions which contributed to William Hill’s transformation from a land-based gambling operator in the United Kingdom to a leading online-led international business. Mr. Chhabra led William Hill’s entry into the U.S. sports betting and online lottery markets with the acquisition of four businesses, including the simultaneous acquisitions of three U.S. sportsbooks, Cal Neva, American Wagering and Brandywine Bookmaking, in 2011 for an aggregate purchase price of $55 million. These businesses ultimately led William Hill to achieve a leading position in the U.S. sports betting market with a market share of 24% in 2019. Additionally, Mr. Chhabra played a key role in structuring William Hill’s successful joint venture with PlayTech Plc (LSE: PTEC) in 2008. The combined entity created one of the largest online gambling businesses in Europe at the time of its formation and led to William Hill’s buyout of Playtech’s interest for $637 million in 2013. Prior to the transaction, William Hill had struggled in its attempt to establish a strong online gaming platform and a meaningful presence outside the United Kingdom.
Mr. Chhabra has also successfully completed four transactions worth over $1.2 billion in Australia, the world’s second largest regulated online gambling market, and various partnerships in Asia. Additionally, he completed several technology and media related transactions, including William Hill’s investment in NYX, where he worked with Mr. Davey on NYX’s transformational acquisition of OpenBet.
Prior to working in the gaming sector, Mr. Chhabra was an equities analyst and a management consultant. Mr. Chhabra received a Bachelor of Science in Economics from the London School of Economics and Political Science.
Eric Matejevich — Chief Financial Officer
Mr. Matejevich is a seasoned gaming executive with extensive experience in both the online gaming and traditional casino industries. From February to August 2019, he served as Trustee and Interim-Chief Executive Officer of Ocean Casino Resort (“Ocean”) (formerly Revel Casino, which had a construction cost of $2.4 billion) in Atlantic City, where he successfully led the management team through an ownership change and operational turnaround effort. Over the course of seven months, Mr. Matejevich managed to reduce the property’s weekly cash burn of $1.5 million to an annualized cash flow run rate in excess of $20 million.
Prior to Ocean, from 2016 to 2018, Mr. Matejevich served as the Chief Financial Officer of NYX. At NYX, he focused his efforts on integrating the company’s many acquisitions and multiple debt refinancings to simplify its capital structure and provided liquidity for growth initiatives. Additionally, Mr. Matejevich was instrumental to the executive team that sold NYX to Scientific Games for $631 million.
Prior to NYX, from 2004 to 2014, Mr. Matejevich was the Chief Financial Officer of Resorts International Holdings and later, from 2011, also the Chief Operating Officer of the Atlantic Club Casino, a property under the Resorts International Holdings umbrella — a Colony Capital (NYSE: CLNY) entity. As Chief Financial Officer, he provided managerial oversight for all finance functions for a six-property casino company with annual gaming revenue exceeding $1.3 billion, 10,000 gaming positions, 7,000 hotel rooms and over 11,000 staff members during his tenure. Mr. Matejevich led the transition effort to integrate a four-casino, $1.3 billion acquisition from Harrah’s Entertainment and Caesars Entertainment (Nasdaq: CZR). As Chief Operating Officer of Atlantic Club, he lobbied for and was successful in obtaining the first internet gaming legislation passed in the United States. The Atlantic Club was the sole New Jersey casino proponent of the legislation.
Prior to serving in various gaming positions, Mr. Matejevich was a Vice President of High Yield Research for Merrill Lynch, where he managed the corporate bond research effort for the gaming and leisure sectors and marketed high yield and other debt transactions totaling $4.8 billion. Mr. Matejevich received a Bachelor of Science in Economics from The Wharton School and a Bachelor of Arts in International Relations from The College of Arts and Sciences at the University of Pennsylvania.
Our Board of Directors
Morris Bailey — Chairman
Over the past 10 years, Mr. Bailey has been a leader in turning around Atlantic City, as well as being among the first gaming executives to embrace online gaming and sports betting in the United States. In his efforts, Mr. Bailey partnered with two of the largest digital gaming companies in the world, PokerStars, part of the Stars Group, and DraftKings (Nasdaq: DKNG). In 2010, Mr. Bailey bought Resorts Atlantic City (“Resorts”) and initiated a comprehensive renovation which allowed for the property to be rebranded and repositioned. In 2012, Mr. Bailey signed an agreement with Mohegan Sun to manage the day-to-day operations of the casino. In addition to Mohegan Sun’s operational expertise and ability to reduce costs via economies of scale, Resorts gained access to their robust customer database. Soon thereafter, Mr. Bailey and his team focused on bringing online gaming to the property. In 2015, Resorts established a platform to engage in online gaming by partnering with PokerStars, now part of the $24 billion Flutter Entertainment, PLC (LSE: FLTR), to operate an online poker room in Atlantic City. In 2018, Resorts announced deals with DraftKings and SBTech to open a sportsbook on-property and online. For 2020 year-to-date, Resorts has performed in the top quartile in internet gross gaming revenue in New Jersey. Mr. Bailey’s efforts in New Jersey helped set the framework for expansion of online sports and gaming throughout the United States.
In addition to his gaming interests, Mr. Bailey has over 50 years of experience in all facets of real estate development, asset M&A, capital markets and operations and is the founder, Chief Executive Officer and Principal of JEMB Realty, a leading real estate development, investment and management organization. Mr. Bailey has notable investment experience within the energy, finance and telecommunications sectors through investments in the Astoria Energy Plant, Basis Investment Group and Xentris Wireless.
Tony Rodio — Director Nominee
Mr. Rodio has nearly four decades of experience in the gaming industry. Most recently, Mr. Rodio served as the Chief Executive Officer and director of Caesars Entertainment Corporation (“Caesars”) (Nasdaq: CZR), one of the world’s most diversified casino-entertainment providers and the most geographically diverse U.S. casino-entertainment company, from April 2019 until its acquisition by Eldorado Resorts, Inc. in July 2020. Mr. Rodio led Caesars through its $17.3 billion merger with Eldorado Resorts, one of the largest transactions in the gaming industry to date. Additionally, Mr. Rodio was instrumental to Caesars’ expansion into the digital gaming industry and oversaw the implementation of new digital segments such as its Scientific Games powered retail sportsbook solution that now operates in various states throughout the U.S. From October 2018 to May 2019, Mr. Rodio served as Chief Executive Officer of Affinity Gaming. Prior to Affinity Gaming, he served as President, Chief Executive Officer and a director of Tropicana Entertainment, Inc. (“Tropicana”) for over seven years, where he was responsible for the operation of eight casino properties in seven different jurisdictions. During his time at Tropicana, Mr. Rodio oversaw a period of unprecedented growth at the company, improving overall financial results with net revenue that increased more than 50% driven by both operational improvements and expansion across regional markets. Mr. Rodio led major capital projects, including the complete renovation of Tropicana Atlantic City and Tropicana’s move to land-based operations in Evansville, Indiana. Each of these initiatives, among others, generated substantial value for Tropicana. Ultimately, Mr. Rodio’s efforts at Tropicana led to its sale to Eldorado Resorts in 2018 for $1.85 billion. Prior to Tropicana, Mr. Rodio held a succession of executive positions in Atlantic City for casino brands, including Trump Marina Hotel Casino, Harrah’s Entertainment (predecessor to Caesars), the Atlantic City Hilton Casino Resort and Penn National Gaming. He has also served as a director of several professional and charitable organizations, including Atlantic City Alliance, United Way of Atlantic County, the Casino Associations of New Jersey and Indiana, AtlantiCare Charitable Foundation and the Lloyd D. Levenson Institute of Gaming Hospitality & Tourism. Mr. Rodio brings extensive knowledge of and experience in the gaming industry, operational expertise, and a demonstrated ability to effectively design and implement company strategy. Mr. Rodio received a Bachelor of Science from Rider University and a Master of Business Administration from Monmouth University.
Marlon Goldstein — Director Nominee
Mr. Goldstein is a licensed attorney with nearly 20 years of experience in the gaming space. He joined The Stars Group (Nasdaq: TSG)(TSX: TSGI) in January 2014 as its Executive Vice-President, Chief Legal Officer and Secretary until his retirement from the company in July 2020 following the merger of TSG with Flutter Entertainment, PLC (LSE: FLTR). Mr. Goldstein also previously served as the Executive Vice-President, Corporate Development and General Counsel of TSG. Mr. Goldstein was also the senior TSG executive based in the United States and was one of the primary architects of TSG’s strategic vision for its U.S.-facing business. During his tenure, TSG grew from an approximately $500 million market-cap company to an approximately $7 billion market-cap company through a combination of organic growth and strategic mergers and acquisitions. Mr. Goldstein participated in numerous M&A transactions and capital markets offerings at TSG, including several transformational transactions in the digital gaming industry. Notable transactions in which Mr. Goldstein was involved include:
• TSG/Flutter Merger: In 2019, TSG merged with Flutter for a $12.2 billion transaction value, the largest transaction in the digital gaming industry to date.
• TSG/Fox Bet Partnership: In 2019, TSG entered into a partnership with FOX Sports to create FOX Bet in the U.S., a leading U.S. online gaming business. Wall Street Research estimates an approximate $1.1 billion valuation for Fox Bet post-partnership with The Stars Group.
• TSG/Sky Betting & Gaming: In 2018, TSG acquired Sky Betting & Gaming, the largest mobile gambling operator in the United Kingdom at the time, for $4.7 billion.
• TSG/CrownBet and William Hill: In 2018, TSG simultaneously acquired CrownBet and William Hill, two Australian operators, for a total of $621 million in a multi-part transaction.
• TSG/PokerStars and Full Tilt Poker: In 2014, TSG acquired The Rational Group, which operated PokerStars and Full Tilt and was the world’s largest poker business, for $4.9 billion.
Through his ability to legally structure large and complex transactions, Mr. Goldstein was integral to TSG’s vision of becoming a full-service online gaming company. Additionally, he assisted in structuring TSG’s capital markets activity, which generated liquidity for acquisitions and strengthened its balance sheet.
Prior to joining TSG, Mr. Goldstein was a principal shareholder in the corporate and securities practice at the international law firm of Greenberg Traurig P.A., where he practiced for almost 13 years. Mr. Goldstein’s practice focused on corporate and securities matters, including mergers and acquisitions, securities offerings, and financing transactions. Additionally, Mr. Goldstein was the founder and co-chair of the firm’s Gaming Practice, a multi-disciplinary team of attorneys representing owners, operators and developers of gaming facilities, manufacturers and suppliers of gaming devices, investment banks and lenders in financing transactions, and Indian tribes in the development and financing of gaming facilities.
Mr. Goldstein brings experience and insight that we believe will be valuable to a potential initial business combination target business. Mr. Goldstein received a Bachelor of Business Administration with a concentration in accounting from Emory University and a Juris Doctorate with highest honors from the University of Florida, College of Law.
Sean Ryan — Director Nominee
Mr. Ryan is a digital media and technology operator with extensive global experience in online payments, e-commerce, marketplaces, mobile ad networks, digital games, enterprise collaboration platforms, blockchain, real money gaming and online music. Since 2014, Mr. Ryan has been serving as Vice President of Business Platform Partnerships at Facebook, Inc. (“Facebook”) (Nasdaq: FB), where he leads a more than 500 person global organization that manages the Payments, Commerce, Novi/Blockhain, Workplace and Audience Network businesses. Prior to his current role, Mr. Ryan was hired in 2011 as the Director of Games Partnerships to lead and grow the global Games business at Facebook. While the Director of Games Partnerships, Mr. Ryan focused on re-shaping Facebook’s games and monetization strategies to derive more value for Facebook, its users and its partners, including the addition of a Real Money Gaming offering in regulated markets. Mr. Ryan’s team helped accelerate a major trend in engagement through cross-platform games and therefore the opportunity to increase users through establishing games on multiple platforms. Prior to joining Facebook, Mr. Ryan created the new social and mobile games division at News Corp, an American multinational mass media corporation controlled by Rupert Murdoch. While at News Corp, Mr. Ryan led the acquisition of Making Fun, a San Francisco social-game start-up, that created News Corp’s games publishing division.
Before joining News Corp., Mr. Ryan founded multiple digital businesses such as Twofish, Meez, Open Wager and SingShot Media. Mr. Ryan co-founded Twofish in 2009, a virtual goods and services platform that provided developers with data analytics and insights for individual application’s digital economies. Twofish was later sold to online payments provider Live Gamer, where Mr. Ryan served on the board of directors. From 2005 to 2008, Mr. Ryan founded and led Meez.com, a social entertainment service combining avatars, web games and virtual worlds. The white label social casino gaming company Open Wager was spun out of Meez and was later sold to VGW Holdings, Mr. Ryan also co-founded SingShot Media, an online karaoke community, which was sold to Electronic Arts (Nasdaq: EA) and merged into its Sims division.
We believe Mr. Ryan’s experience will be valuable to a potential initial business combination target and would provide an expanded perspective on the digital gaming landscape. Mr. Ryan received a Bachelor of Arts from Columbia University and a Master of Business Administration from the University of California, Los Angeles.
Tom Roche — Director Nominee
Mr. Roche has more than 40 years of experience in the gaming industry as a regulator, advisor and independent auditor. Mr. Roche joined Ernst & Young (“EY”) as a partner in 2003 and opened its Las Vegas office. He was subsequently appointed as the Office Managing Partner and Global Gaming Industry Market Leader. In 2016, Mr. Roche relocated to the EY Hong Kong office to supervise the expansion of the EY Global Gaming Industry practice in the Asia Pacific region. Mr. Roche has been integral to numerous transactions that have shaped the current gaming landscape, including:
• Wynn Resorts (Nasdaq: WYNN) initial public offering: Mr. Roche was the lead partner on Wynn Resort’s initial public offering, which raised $450 million in 2002.
• Harrah’s Entertainment/Apollo Management Group & Texas Pacific Group: Mr. Roche headed the regulatory advisory services on the buyout of Harrah’s Entertainment, the world’s largest casino company at the time, for $17.1 billion.
• Dubai World/MGM Resorts: Mr. Roche headed the regulatory and due diligence advisory services to Dubai World in its approximately $5.1 billion investment in MGM. Dubai World bought 28.4 million MGM shares, or 9.5 percent of the casino operator, for $2.4 billion. It then invested $2.7 billion to acquire a 50% stake in MGM’s CityCenter Project, a $7.4 billion 76-acre Las Vegas development of hotels, condos and retail outlets.
• MGM Growth Properties (NYSE: MGP) initial public offering: Mr. Roche provided tax and structural transaction services to MGM Resorts in the creation of MGM Growth Properties, a publicly traded REIT engaged in the acquisition, ownership and leasing of large-scale destination entertainment and leisure resorts. MGM Growth Properties raised $1.05 billion in its 2016 initial public offering.
Mr. Roche also directed EY advisory services to boards and management teams for profit improvement and technology related initiatives. In addition, Mr. Roche provided advisory support to the American Gaming Association on several research projects, including those specifically related to sports betting, the revocation of The Professional and Amateur Sports Protection Act of 1992 (PASPA) and anti-money laundering best practices in the gaming industry. Equally, he has assisted government agencies in numerous international locations with enhancing their regulatory approach to governing the industry especially in the online gambling sector.
Prior to joining Ernst & Young, Mr. Roche served as Deloitte’s National Gaming Industry Leader and as the co-head of Andersen’s Gaming Industry Practice in Las Vegas. In 1989, Mr. Roche was appointed by then Governor of the State of Nevada, Robert Miller, to serve as one of three members of the Nevada State Gaming Control Board for a four-year term, where he was directly responsible for the Audit and New Games Lab Divisions. As a board member, he spent a substantial amount of time assisting global jurisdiction regulators enact gaming legislation in the design of their regulatory structure. During his career, Roche has been involved in numerous public and private offerings of equity and debt securities. His background includes providing casino regulatory consulting services to casino licensees and to federal and state agencies including the National Indian Gaming Commission and the Nevada State Gaming Control Board, and industry associations such as the Nevada Resort Association and the American Gaming Association.
We believe Mr. Roche’s highly regarded reputation as a gaming auditor and advisor in the gaming industry will be valuable for us and a potential business combination target. Mr. Roche is a member of the American Institute of Certified Public Accountants and is licensed by the Nevada State Board of Accountancy and Mississippi State Board of Public Accountancy. He received his Bachelor of Science degree in Accounting from the University of Southern California.
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Online Gambling World As Players See It

It is important to learn where 먹튀검증is in a very commercial world today. This is not an easy discussion and will require us to spend time and effort if we want to seek enlightenment on this problem. But this knowledge is relevant for beginners, players, and casinos themselves. For example, this information can give you gambling perceptions, not only in the country but throughout the world. Statistics can give you information about the kind of addiction owned by the casino and the overall gambling behavior of the population. If you are an online gambler who is interested, you must make you updated to the latest news.
See a general description of online gambling realms
At this time, gamblers throughout the world are confused by the approval of the enforcement of the enforcement of the Internet gambling (Uigea), which forbid Americans from gambling games online and which seems to be the most urgent problem regarding public public. However, bills only target American citizens and US gambling and casino markets. But the implications of this law spread globally. One important effect is Strasehy higher in money transfer procedures and banking options on the gambling site. It began in 2007 even though in a way that was unclear and confusing. The result is the closure of online gambling sites as a result of a reduction in shares caused by the market which is reduced when the US forbids its people to join online gambling. Gambling sites outside the United States also prohibit the registration of US players. Indeed, the Uigea effect travels beyond America's boundaries, affecting the gambling industry throughout the world, damaging more casino sites than they should.
Gambling on the internet
So, you might want to check how prosperous games in other countries continue the gambling tradition. The American gambler is not completely prohibited from joining the gambling site and it must be clear. Some countries still allow people to gamble despite the presence of Uigea, which is not fully implemented throughout the country. More countries around the world promote casinos to compensate the terrible decline in the US casino market. These countries include Barbuda and Antigua in the Caribbean, where online gambling has long been successful and developed. Caribbean has some of the best licensed online casinos that booms because of low taxes and fast transactions. Of course, regardless of this Caribbean country, there are more countries that allow online gambling and online casinos to operate, such as France, Australia, South Korea and Germany. These countries have long seen economic benefits supporting this kind of market.
Gambling Future
The stability of land-based casinos is the subject of a sustainable debate. There is a lot of discussion about real economic benefits to promote casinos and let them develop on the commercial arena. There are also arguments about the pros and cons have them around and whether the benefits are greater than losses or vice versa. Even so, experts believe that online gambling and Roulette will definitely be for a while and that this industry remains prosperous, whatever happens.
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$MP == Must Play --> MP Materials DD

Here’s what’s up. For the next energy/tech economy to manifest we’re going to need a lot of “Rare Earth Elements” (REEs; meme potential endless 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 ). REEs are used in most high-end consumer electronics, advanced renewable energy tech, and energy storage tech these days. REEs Neodymium and Praseodymium are critical to the manufacture of strong magnets 🧲 for turbines (wind, hydro, gas, etc), and EVs, due to their high efficiency and high energy density. REEs such as Dysprosium are used to increase the operating temperature of the magnets for high-temp applications. Other REEs are used in the production of smart phones, hard disk drives, military defense systems, and even medical equipment. OK, you get it, they’re useful, and used A LOT. So, what’s the big deal?
The majority of REE production is concentrated in just two countries: China (85%) and Australia (~10%), with the rest scattered around the world (Russia, Brazil, India, etc). “In 2010 China significantly restricted their rare earth exports. That was done to ensure a supply of rare earths for domestic manufacturing and for environmental reasons. This shift by China triggered panic buying, and some rare earth prices shot up exponentially.” – Geology.com. As the demand for the above tech increases, so will the demand for REEs. 🚀🚀🚀
How rare are REEs? Honestly, it depends on the element in question. The main factor that puts them into this category isn’t necessarily their abundance, it’s the economics of extraction. They’re difficult to find in concentrations that are worth mining and processing. This decreases supply and drives up the price, causing them to be effectively “rare.” Why mention this, you ask?
Because the money is to be found in new raw ore processing/recycling technologies. So we need better ways to extract REEs from raw ore, and we need better ways to recycle the REEs that are tied up in waste-tech. We’re at a point with our tech consumption that we’ve all probably had at least 1 old smart phone; chances are you’ve had 3-4 at this point. Currently, companies cannibalize the phones for useful parts, refurb, or throw them away. But this is a HUGE waste of REEs. Additionally, currently, there are no commercial capabilities to separate and process HREEs outside of China.
Enter MP Materials ($MP)– the only owner of an active REE mine in the US. They recently went public and have been on a steady climb since (up 100% in ~6wks), but I see more room to run. They also recently announced plans to have operational separation capabilities by the end of 2020 (no news as of 12/30). Having an operational REE mine is a HUGE deal, since the development of additional mines in the US has been stymied. China can (and will) manipulate the prices to make further mine development uneconomical, but they can’t price MP out of production entirely (esp with the US gov’t backing them). They hold investment contracts with the DoD related to these separation technologies as it’s seen as pertaining to national security. 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
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Did a quick search for other DDs on MP; I believe these are complimentary to mine and not redundant.
https://www.reddit.com/wallstreetbets/comments/kmmg97/mp_mp_materials_dd/
https://www.reddit.com/wallstreetbets/comments/k03k86/mp_has_arrived/
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Additional companies to keep an eye on:
Lynas Corporation $LYSCY (market cap ~$2.7B) – Australian REE mining company (close global ally of US). Has MOUs with smaller US companies aiming to develop HREE separation and processing capacity in Texas.
AMG Critical Materials Company (market cap ~$840M) – Lithium and silicon production, sub of much larger company with innovative manufacturing/R&D etc.
Texas Mineral Resources (market cap $124M) – also opening a pilot plant in the US for separating REEs, ore sourced from US.
Rare Earth Element Ltd (market cap ~$115M) - developing mine in Wyoming for HREEs. Rare Element Resources is developing separation and processing capabilities with proprietary technology. Pilot demonstration of separations tech in Canada and Germany.
Ucore Rare Metals (market cap $33M)- developing mine in AK for HREEs (come online in 3-4 years). Building pilot plant in US for separating LREEs and HREEs
Private, non-traded companies:
Momentum Technologies – has capabilities to produce Rare Earth Oxides (not previously mentioned) from a variety of feedstocks (raw and recycled).
Electron Energy Company – manufactures samarium cobalt magnets, actively stockpiles rare earth metals to prevent supply disruption – carrying between six to twelve months supply.
https://geology.com/articles/rare-earth-elements/#:~:text=rare%20earth%20metals.-,Uses%20of%20Rare%20Earth%20Elements,fluorescent%20lighting%20and%20much%20more.
https://www.jjsmanufacturing.com/blog/rare-earth-elements-electronics-manufacturing
https://www.energy.gov/sites/prod/files/2020/04/f73/Critical%20Materials%20Supply%20Chain%20White%20Paper%20April%202020.pdf
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Positions: Shares MP (I’m too poor to gamble with too many options)
TLDR; Domestic production/recycling/separation/processing of Rare Earth Elements is $$$$$$ REEEEEEEEEEE to the moon.
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Hair Color Market: Global Industry Trends, Market Size, Competitive Analysis and Forecast - 2020 – 2027

According to the recent report published by Research Corridor, the Global Hair Color Market is expected to provide sustainable growth opportunities during the forecast period from 2020 to 2027. This latest industry research study analyzes the Hair Color market by various product segments, applications, regions and countries while assessing regional performances of numerous leading market participants.
The global hair color market size is expected to grow at a significant CAGR of around 8% during the forecast period 2020 to 2027. The increasing use of hair color by aging population is a key factor to drive the market growth. Furthermore, rapid urbanization and rising fashionable trends are some other factor to propel the market. The changing life style, increasing income per capita, and growing modeling industry is projected to boost the market over the forecast period. In addition, the increasing number of professional salon and spa centers is expected to uplift the market. However, increasing health risk due to use of harmful chemicals is projected to restrain the market.
The report titled "Hair Color Market - Global Trends, Market Share, Industry Size, Growth, Opportunities, and Forecast - 2020 – 2027" offers a holistic view of the Hair Color industry encompassing numerous stakeholders including raw material suppliers, providers, distributors, consumers and government agencies, among others. Furthermore, the report includes detailed quantitative and qualitative analysis of the global Hair Color market considering market history, product development, regional dynamics, competitive landscape, and key success factors (KSFs) in the industry.
Browse Full report on Global Hair Color Market report at https://www.researchcorridor.com/hair-color-market/
The report includes a deep-dive analysis of key countries including the U.S., Canada, the U.K., Germany, France, China, Japan, India, Australia, Mexico, Brazil and South Africa, among others. Thereby, the report identifies unique growth opportunities across the world based on trends occurring in various developed and developing economies.
Hair Color Market report summarizes the positive growth rate in upcoming years, and market size with competitive analysis. Our experts have analyzed the historical data to compare with the current market scenario to calculate the market growth in the coming years. The study provides an exhaustive report that includes an executive summary, scope, and forecast of the market.

The Hair Color Market Segmentation:

By Usage:

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By Nature:

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By End-User:

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By Distribution Channel:

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By Region:

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To know more about the study, make an inquiry before purchase @ https://www.researchcorridor.com/inquiry/?id=81123

List of Key companies:

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Key Questions Answered by Hair Color Market Report

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To know more about this study, request a free sample report @ https://www.researchcorridor.com/request-sample/?id=81123
About Us: Research Corridor is a global market research firm. Our insightful analysis is focused on developed and emerging markets. We identify trends and forecast markets with a view to aid businesses identify market opportunities optimize strategies. Our expert’s team of analysts’ provides enterprises with strategic insights. Research Corridor works to help enterprises grow through strategic insights and actionable solutions. Feel free to contact us for any report customization at [email protected] .
Media Contact:
Company Name: Research Corridor Contact Person: Mr. Vijendra Singh Email: [email protected] Contact no: +91 989-368-5690
Visit us: https://www.researchcorridor.com/
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Global Feminine Hygiene Products Market Report (2021-27) - Pheonix Research

Global Feminine Hygiene Products Market by Type (Sanitary Napkins/Pads, Tampons, Pantyliners, Menstrual Cup, Feminine Hygiene Wash, Period Panties,) and Distribution channel (Supermarket, Convenience Stores, Department Stores, Retail Pharmacies and Online Purchase), Geography (North America, South America, Europe, Asia-Pacific, Middle East, and Africa) - Industry Trends Analysis & Forecast till 2027
GLOBAL FEMININE HYGIENE PRODUCTS MARKET DEFINITION: Feminine hygiene products are personal care products used for women during menstrual discharge, flow, and alternative sex organ practices. Feminine hygiene products play a vital role in maintaining women's reproductive wellbeing and promoting safe intimate hygiene practices in the prevention of any form of infection. Usually, these products are made of polymeric fiber, pulp, fluffy wood, among others. They are particularly concerned with menstruation, vaginal cleanliness, contraception, and motherhood. Feminine merchandise comes in various sizes depending on different body shapes. As the size of the vagina differs across various age ranges, the different forms of the substance gain a large number of customers. Feminine demand for goods has risen in both developed and emerging countries, and the reason for this is a growth in menstrual product adoption around the world.
Request Sample: https://www.pheonixresearch.com/report/global-feminine-hygiene-products-market.html
GLOBAL FEMININE HYGIENE PRODUCTS MARKET OUTLOOK: Feminine Hygiene Products are now attracting popularity on a regular basis due to increased demand across the geographical area. Increased knowledge of women's personal hygiene, combined with a desire to use healthy and comfortable sanitary products, is a significant factor leading to the growth of the industry and is generating a huge market for women's hygiene products all over the world. A rising understanding of women's health and hygiene and the advent of low-cost women's hygiene products are factors that are expected to fuel demand for women's hygiene products during the forecast period. The use of chemical substances in the manufacturing of women's hygiene products can have harmful effects. In addition, the disposal of these products can contribute to the clogging of drains, which, in turn, hinders the selling of these products. In addition, developing the need for female hygiene products will create attractive market opportunities in the coming years.
According to Pheonix Research, Market Size of The global feminine hygiene products market registering a CAGR of 5.7 % from 2020 to 2027. For geographically segmented the Asia Pacific dominated the market and the prime contributor in terms of revenue in the total global feminine hygiene products market
GLOBAL FEMININE HYGIENE PRODUCTS MARKET DYNAMICS: Market Drivers • Rising Advancements in feminine hygiene products. • Growing awareness of environmental & personal hygiene.
Market Restraints • Social stigma associated with menstruation and feminine hygiene products. • Adverse Effects of Chemical Disinfectants.
GLOBAL FEMININE HYGIENE PRODUCTS MARKET SEGMENTATION: By Product Type • Sanitary Napkins/Pads • Tampons • Pantyliners • Menstrual Cup • Feminine Hygiene Wash • Period Panties
By Distribution Channel • Supermarket • Convenience Stores • Department Stores • Retail Pharmacies • Online Purchase
By Geography • North America o US o Canada o Mexico
• South America o Brazil o Argentina o Rest of South America
• Europe o Germany o France o United Kingdom o Italy o Spain o Russia o Turkey o Belgium o Netherlands o Rest of Europe
• Asia-Pacific o Japan o China o South Korea o India o Australia o Singapore o Malaysia o Indonesia o Thailand o Philippines o Rest of Asia-Pacific
• The Middle East and Africa o South Africa o Egypt o Saudi Arabia o United Arab Emirates o Israel o Rest of the Middle East and Africa
COMPETITIVE ANALYSIS: GLOBAL FEMININE HYGIENE PRODUCTS MARKET: The global feminine hygiene products market is highly competitive, and major players have used various approaches to raise their footprints on this market such as new product advancements, acquisitions, contracts, joint ventures, alliances, acquisition, and others. The scope of the study includes feminine hygiene products market revenue for Global, Asia-Pacific, North America, Europe, South America, and the Middle East & Africa.
KEY MARKET COMPETITORS: GLOBAL FEMININE HYGIENE PRODUCTS MARKET: Few of the major competitors currently working in the feminine hygiene products market are • Procter & Gamble Company • Johnson & Johnson Services, Inc. • Edgewell Personal Care • Unicharm Corporation • Kimberly-Clark Corporation • Kao Corporation • Torunskie Zaklady Materialów Opatrunkowych S A • Prestige Consumer Healthcare, Inc. • Thinx, Inc • Diva International Inc. • Premier • First Quality Enterprises Inc • Hengan International Group Co. Ltd • Essity AB • Ontex Group NV • Natracare LLC
RESEARCH METHODOLOGY: GLOBAL FEMININE HYGIENE PRODUCTS MARKET Data collection modules with large sample sizes are used for data collection and base year analysis. Market share analysis and key trend analysis are the major factors for success in any market report. Market statistical and coherent models are used to analyze the market data. Please request an analyst call for more information on research methodology
Phoenix research consultants use their proprietary research methodology to evaluate data that involves data mining, analysis of the impact of data variables on the market, and primary validation. Furthermore, other data models consist of market overview and guide, company matrix, key intensity vendor mapping, market forecasting analysis, company share analysis, top-down and bottom-up analysis, and others.
DEMAND AND SUPPLY SIDE- PRIMARY RESEARCH RESPONDENT Demand Side: commercial Buyers, Group Purchasing Organizations, Associations, Healthcare Authorities, Academic and Universities, Technological Expertise, researcher, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, Senior and mid-level Executives, Distributors, Market Intelligence, and Regulatory Authority Managers among others.
REPORT INSIGHTS: • To gain insights into the competitive milieu in the market • End-user assessment /Customer behaviors • Detailed Demand and Supply Assessment • Key market drivers and restraints Analysis • Competitive landscape of the key players involved • In-depth analysis of the market segmentation
Read More: https://www.pheonixresearch.com/report/global-feminine-hygiene-products-market.html
Contact Us
Nikhil Jat
Email: [[email protected]](mailto:[email protected])
Phone: US: +1 518 512 9180
India +91 881 762 1665
Skype: nikhil12318
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Premium Cosmetics Market Size, Share, New Trends, Outlook, Growth Drivers, Statistics Data and Forecast till 2025

The report on Premium Cosmetics Market is aimed to equip report readers with versatile understanding on diverse marketing opportunities that are rampantly available across regional hubs. A thorough assessment and evaluation of these factors are likely to influence incremental growth prospects in the Premium Cosmetics Market.
As the report proceeds further, it emphasizes on relevant development nuances on current, historical, as well as future growth tendencies to make error free growth estimations on crucial parameters. Other vital factors related to the Premium Cosmetics Market such as scope, growth potential, profitability, and structural break-down have been distinctively documented in this Premium Cosmetics Market report to leverage holistic market growth.
Get PDF Sample Copy Here @: https://www.adroitmarketresearch.com/contacts/request-sample/415
The study is done with the help of analysis such as SWOT analysis and PESTEL analysis. A significant development has been recorded by the market of Premium Cosmetics Market, in past few years. It is also for it to grow further. Various important factors such as market trends, revenue growth patterns market shares and demand and supply are included in almost all the market research report for every industry. The report also focuses majorly on the factors like market revenue share, price and production. The company profile section offers the detailed analysis about the expansion policies of companies.
Further in the Premium Cosmetics Market report, readers are engaged in a clear comprehension and perspective development of multiple segment potential and their growth contributions. The report adequately identifies the segment poised to maneuver revenue generation through the growth span.
The major players are Avon Products Inc., L’Oréal S.A., Unilever plc, The Procter & Gamble Company (P&G), Revlon Inc., Oriflame Holding A.G., Shiseido Company Ltd., The Estee Lauder Companies Inc. and Coty Inc.
Key segments of global premium cosmetics market include:
o Distribution channel segment
o Hypermarket
o Supermarket
o Specialty Stores
o Online
o Others
o Product type segment
o Skin Care
o Make-up
o Hair Care
o Hygiene Products
o Fragrances
o Multifunctional
o Others
o Geographical segment
o North America
§ U.S.
§ Canada
§ Mexico
o Europe
§ Germany
§ France
§ Italy
§ Spain
§ U.K.
§ Rest of Europe
o Asia Pacific
§ China
§ India
§ Australia
§ Japan
§ Rest of Asia Pacific
o Rest of the world
§ Brazil
§ Argentina
§ South Africa
§ Others
Access Full Report with TOC Available @ https://www.adroitmarketresearch.com/industry-reports/premium-cosmetics-market
Regional Assessment: Global Premium Cosmetics Market
· At the backdrop of sudden outbreak of the global pandemic, significant growth dent has been observed across local, and global markets alike.
· However, as businesses are investing in recoup measures, this report outlines a detailed outlook of the various eventful developments and novel opportunity likelihood.
· Typical growth hubs across regions and country-specific milestones are also observed to expedite growth in global Premium Cosmetics Market.
What to Expect from the Premium Cosmetics Market Report
• The report surveys and makes optimum forecast pertaining to market volume and value estimation
• A thorough evaluation to investigate material sources and downstream purchase developments are echoed in the report
• This report aims to holistically characterize and classify the Premium Cosmetics Market for superlative reader understanding
• Elaborate references on purchaser needs, barrier analysis and opportunity assessment are also ingrained
Do You Have Any Query Ask To Expert @ https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/415
About Us :
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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TX75204, U.S.A.
Phone No.: USA: +1 972-362 -8199/ +91 9665341414
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Quarter 3 2020 – Net worth up 4.3%, 92.8% savings rate

Quarter 3 2020 – Net worth up 4.3%, 92.8% savings rate
TLDR; One of those journey posts. Net worth above pre-crash highs; savings rate good, dividends slashed.
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https://preview.redd.it/dyx3pgzid5s51.jpg?width=1200&format=pjpg&auto=webp&s=f60257e419469c2847c8effa40ab191bb3166ae6

Quarter 3 2020 – Net worth update: Up $103,000

After last quarter’s incredible reversal in fortunes, this last quarter has seemed positively sedate. There have been a few bouncy days here and there on the markets, but no definitive trends upwards or downwards (though I’m sure some chartists would disagree).
Instead, the whole world is waiting with bated breath for news of a vaccine or treatment that puts coronavirus to bed.
I was actually quite shocked at how well the Australian share market held up overall during reporting season. There were some winners, but most results were pretty weak-to-dire. And while you can argue that the market had already baked-in the results in the prices, who can honestly say with a straight face that August/September 2020 had the same outlook as January 2019? Sorry, I digress.
While world governments seem to be still grappling with the health aspects of coronavirus, imminent economic collapse seems to have been averted. I’ll have some more thoughts on possible ramifications from what has already happened later in the month though.
On the balance of things, I’m still quite pessimistic about the shape of domestic and international recovery. A vaccine is still a while away from being approved, let alone rolled out to the masses (mid-to-late 2021 before us plebs get access?). Government debt globally has skyrocketed. And in the personal finance space in Australia at least, the continued scaling back and eventual demise of JobKeeper payments will be one to watch. At stake is only the local economy, house prices, job security, and the state of the ASX.
At least Brexit seems to be going well. Oh, wait. And who knows what’ll happen next month in the American election now that the President has taken a turn. But it won’t be boring regardless of what happens. 2020 keeps on giving.
So with another three months in the record books, how has our net worth fared for Q3 2020?

Our financial goals

Before going further, here’s a reminder to our current early retirement goals. We’re looking to retire early before the age of 45 (and we’re currently 35 and 36) with a pre-tax FatFIRE passive income of $150,000 a year. Our net worth target is comprised of the following assets:
  • $2,000,000 in shares
  • $600,000 in two investment properties
  • $700,000 in superannuation
  • $1 million primarily place of residence
  • Total asset goal = $4,300,000.
You can track our net worth in our previous posts.

July-September: Shares

In personal news, we dipped our toes into the ETF waters for the first time. We made purchases of $15,000 and $20,000 for a pair of internationally-focussed passively managed funds that have a dividend focus. They were both trading at around a 20% discount to their pre-crash highs, so hopefully they’ll be a good long term investment.
Next week I’m writing an article about how domestic shares can have an often unacknowledged level of international market exposure. However, our portfolio hasn’t got sufficient international exposure from that alone give us diversification. So it was time to branch out with some international-only holdings. In fact, about 80% of our remaining share investments will be in funds with an international focus.
That said, we’re not entirely out of the domestic share market investment game. We also took up a Retail Entitlement Offer for one of our smaller share holdings. But that only came to just under $1,000.
After starting the quarter with $1,044,000 in our share portfolio, how did it end?
On 30 September, we had a share portfolio worth $1,091,000 – up $47,000 or 4.5% on Q2. As part of that, in addition to the $36,000 in share purchases mentioned above, we also received dividends – some of which were reinvested.
However, you’ll need to wait for our upcoming Q3 income and expenses report to see what our dividend income came to. Spoiler alert though: it’s not pretty.
All in all though, it wasn’t a bad result, given the ASX200 finished the quarter down around 1.4%. Far better than the devastation we saw back in January-March at least.

July-September: Superannuation

As mentioned above, the local markets finished slightly down for the quarter. So how did our superannuation fare?
Well, we started Q3 on $423,000 and ended with $447,000 – an increase of $24,000 or 5.6%.
Only about a quarter of that is from employer contributions – as we’re not making extra contributions to our superannuation. So that’s great outperformance! Even more impressively, that’s more than the $428,000 that we started the year on before it hit the fan in February.
Given that superannuation is a bit of a black box, it’s hard to tell why it outperformed so much. But I know that a large chunk of my personal super is in international shares, so maybe that explains it.
So while our share performance hasn’t been anything terrific, at least superannuation is turning up to the party.

July-September: Primary place of residence

Property prices have been surprisingly resilient amid the damaged economy. We’re still seeing properties in our area going on sale. How many are forced? Who knows. But prices don’t seem to be falling – yet anyway – in our area. In fact, apparently Brisbane house prices went up 0.5% in September – crazy!
But what do our go-to property sites have to say about our house price?
Well, Onthehouse.com.au prices it at $775,000 – identical to both Q1 and Q2. Conversely, an ANZ property report said our house is worth $711,000 (down $2,000 on Q2, but up $40,000 on Q1).
Like in the past, using a rule of not moving the price unless we have a pair of sources agreeing on a price move in the same direction, we’ll keep the house price at $655,000.
We still think prices in the $700,000s are too much, but would gladly take it when it comes time to sell.
In terms of calculating our net worth, our mortgage is fully paid off in regards to having money in an offset account. So the full capital value is ours in that ledger.

July-September: Investment properties

With our PPoR maintaining its value, what about our two investment properties?
Last quarter they rose back to where they were in Q1, and the story was much the same in Q3:
  • Onthehouse.com.au – combined value $700,000 ($700,000 in Q2 2020).
  • ANZ – combined value $616,000 ($617,000 in Q2 2020).
With the ANZ property report coming down just a fraction and Onthehouse.com.au holding firm, we’ll keep the combined values at $605,000.
Unlike our home, these properties do have mortgages on them with money owing. We started the quarter owing $369,000, but that dropped to $367,000 over the three months.
That gives us total equity of $238,000, an increase of $2,000 or 0.8%.
Also stay tuned for a series of articles on our investment properties starting in the next month or so. We’re going to be talking about the finances behind them in greater detail for the first time.

Financial state of the union

We finished Q2 2020 with a net worth of $2,358,000. Here’s how things look three months later after Q3 2020:
Asset Value
Shares $1,091,000
Superannuation $477,000
Investment properties value $605,000
Investment properties debt -$367,000
Primary place of residence $655,000
Total $2,461,000
We landed on $2,461,000, an increase of $103,000 or 4.3%.
Like our superannuation, that’s actually a small increase now on the numbers we saw at the end of 2019 that was our previous all-time high.
While it’s good to actually be making some level of progress at last, it just makes me feel a bit like 2020 has been a bit of a waste. All that work and saving for practically nothing. But, that’s a first world privileged problem to have at the moment.
All in all, a good quarter on the net worth front. Next up we’ll have our Q3 income and expenses report. Sadly, the news there – particularly for our vital dividend income – is much, much worse.
BLOG POST LINK: https://hishermoneyguide.com/quarter-3-2020-net-worth-update/
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https://preview.redd.it/1zt64wykd5s51.jpg?width=1200&format=pjpg&auto=webp&s=722f761a9ce9e903e3b4eda5e964ad6be8917645

Q3 2020 income and expenses: 92.8% savings rate

Life has slowed in the HHMG household. We’re not locked down like we were in April-May, but we’re still keeping socially distant, and minimising going out and about. With vulnerable parents, our actions don’t only risk impacting ourselves. However, it’s terrific to see the reduction in coronavirus cases in Australia over the past few months. Fingers tightly crossed we don’t see another large outbreak like the one that occurred in Victoria.
That said, the individual days go by quickly enough. It’s nice being able to watch TV over lunch, for instance. And you can’t beat regular cat hugs.
However, with an office only 10 steps away from bed, things are kind of all merging into one. It’s a bit disconcerting that this working from home, Covid-normal has now been in our lives for over six months.
The best news of all is that 2020 is 75% done. We can’t wait to see the back of it. Surely 2021 can’t be any worse?
But while the year has been memorable for practically all the wrong reasons, what about our finances? If you saw our Q3 net worth update, you would have seen that we recovered to our pre-crash highs. Sadly though, the news is less good in this update.

July-September: Income and side hustles

In good news, my wife Ellie managed to score herself a minor pay rise from mid-year, bringing in almost $80 a week extra after tax. It’s not a huge amount, but it’s better than what I achieved: triple doughnuts or $0.00, with a pay freeze until next year. Frankly in this economic climate, any increase is a minor miracle, so great work Ellie!
Currently neither of our jobs are under imminent threat. But from next year onwards, we’re both quite worried that we’ll be under the termination microscope. I’m desperately trying to cling on long enough to achieve long service leave in early 2021 to give us a bit more of a monetary buffer if I was retrenched and needed to find a new job in a dire jobs market. Ellie has already reached long service (once again beating my efforts).
We’re also currently trying to max-out our annual leave balances as much as possible to use them as an alternative bank account in case we lose our jobs. It just seems prudent in the current environment.
However, let’s talk money. For our salaries, we had six pay cycles in Q3 – one down on Q2. In total our salaries earned us $38,062 after tax for the quarter. That’s a small increase of $936 or 2.5% on last year.
Coronavirus continues to impact our bottle collection efforts for this year. We managed to make one trip during the quarter, collecting $83.40. We’re only picking up a few here and there these days, with most coming from our parents. That’s well down on the $235 we had this time last year. The blog itself earned $249.89, entirely from Google Adsense payments from ads displayed and clicked.
After seeing our income from online surveys increasing, Ellie also published an article during the quarter on what online surveys are and which ones we use. True to form, our income from them for the quarter hit a new high of $460. That’s an increase of $175 on this time last year. Q4 is already shaping up well on that front as well.
Our side hustles amounted to $793.29 for the quarter, giving us a total active income of $38,855.29 between July and September. That compares to $37,765 last year – an increase of $1,090.29 or 2.9%.
And that, folks, is about as good as the news today is going to get.

July-September: Dividends

Time to take a deep breath.
Okay, that was more like an apprehensive wince.
Q3 is usually an important quarter for our dividends – the biggest of the year when many stocks provide final distributions. Naturally, this year is like no other that we’ve experienced. So let’s see what the damage is while comparing the previous two years:
Q3 2018 Q3 2019 Q3 2020
DRP/DSSP reinvested/Direct debit, excluding franking credits $15,465.78 $16,439.23 $10,218.59
Ouch.
A total of $10,218.59 for July-September represents a dividend reduction of $6,220.64 or 37.8%.
That’s not good. Like we’ve said before, our goal is for share dividends to make up the bulk of our early retirement income. So losing well over a third of that is… bad.
While our Q3 2020 net wealth rose above pre-crash levels, clearly this is an area we’ve gone backwards in.
Our high exposure to the banks is really our biggest undoing here. Thankfully over the last two years we’ve been investing heavily away from them, knowing it was potentially a fatal flaw. In this instance, it has proven to be the case with one hell of a stress test.
Instead we’ve recently been investing in Listed Investment Companies, and only during this last quarter did we buy our first ETFs. On the LIC front, things are actually quite encouraging. These quarterly dividends only reflect three out of six LIC dividends we’re receiving in this half of the year. All of our LIC holdings have now announced dividends, and the biggest cut to dividends was “only” *cough* by about a third, while a couple have actually increased their dividends. So at least the strategy to invest in LICs for their ability to smooth dividends seems to be paying, well, dividends.
All in all, pretty sobering results, but we’re not too depressed yet. We’ve previously discussed that we always expected there to be some lean years once we hit early retirement, and 2020/21 is looking to be a prototype of that.
In retirement, as long as we’ve got enough income coming in to cover our basic living expenses (which will be larger than they currently are), we’ll still have a great life – with the ability to cut back further if required.
In addition to dividends, once we FIRE we’ll also have some rental property income coming in. As telegraphed in our earlier Q3 net worth update, we’re providing an update on these properties in the coming month or two to give a better idea of how things stand there. So a bad result with dividends alone won’t necessarily sink our early retirement hopes either.
That said, from the dividends that have been announced it looks like Q4 will be a little brighter than the drubbing we just experienced. However, one thing that’s certain is that dividends won’t rebound overnight. The second half of this financial year will be very interesting.
\The numbers listed above are ‘somewhat net’ – for the purposes of calculating our savings rate. It includes franked and unfranked dividends – but not* franking credits (which are essentially pre-paid tax credits). For the unfranked dividends (and a small additional 7% portion of the franked dividends due to our marginal tax rates), we pay additional tax towards the end of the calendar year. For reference, we received an additional $3,409.69 in franking credits for the period – giving us a total of $13,628.28 in gross dividends for the quarter.\*

July-September: Expenses

Let’s take a look at our expenses for Q3 2020, with a comparison to Q3 2019:
[EXPENSE CHART IN BLOG POST]
In total we spent $3,528.22 for the quarter, compared to $4,272.89 last year – a decrease of $744.67 or 17.4%. While at face value that should be lauded, in reality our car service (Q3 last year) was pushed forward a month this year (to Q2). So really our spending is roughly flat, which we’re still happy about. That said, there are a few stories behind the numbers worth mentioning.
Our electricity usage went up 28.3% due to working from home. However, our bill was only 19% more expensive thanks to a government relief payment for households due to coronavirus. But with 13.4kWh per day consumption, it’s indicative of what sort of daily usage we’d have in retirement if we were home all day. It adds up having extra TV time over lunch, the microwave and kettle running a few times extra a day, and a couple of computers running non-stop when they previously weren’t. In other news, we’re swapping electricity retailers in October to what should be a slightly cheaper plan. We’ll see how things change next quarter.
Speaking about working from home, both Ellie and I will be claiming the Australian Taxation Office’s shortcut method to claim $0.80 per worker, per hour worked from home between 1 March and 30 June when we lodge our tax returns in Q4 to get some of those extra expenses back! Though look into your tax options to work out what works best for you.
We also started the process of swapping internet plans to the NBN (long story – we’re still not on it and won’t be for a while – more details in Q4). We were only a couple of months short of getting kicked off ADSL, so it was forced on us. The best plan we could find was $55 a month compared to the $50 we have been spending. With extra working from home we felt we really couldn’t do with the most basic of plans available. It also meant we needed to buy a pair of WiFi dongles to go with a new (free) modem. Our existing modem just used good old RJ45 ethernet cables, but because of the location of the NBN outlet we needed to go with WiFi.
Continuing the IT theme, Ellie’s computer also died during the quarter. In the end we bought a refurbished one from eBay for $109, which wasn’t bad at all. It was a mild gamble buying it, but so far it has paid off and she’s happy with it. The event also inspired the article on how we can’t avoid some expenses forever.
My driver’s licence renewal also arrived, so that was an extra expense compared to last year – almost $350 for the year so far with Ellie’s also coming up at the start of the year. At the same time though, the savings in fuel costs compared to this time last year more than make up for the licence fees.
In total, if you take out our New Zealand holiday from the start of the year, our expenses for the year-to-date are very similar to last year’s at this stage – $12,083.81 compared to $12,710.74 in 2019. (If you offset us being away for a couple of weeks in February, our expenses would be a few hundred dollars higher. The more things change, the more they stay the same.)

How are we tracking? Q3 savings rate

As always, let’s throw it all together to work out our savings rate:
Q3 Value
Income $38,855.29
Share dividends $10,218.59
Expenses -$3,528.22
Total savings $45,545.66
Savings rate 92.8%
With total savings of $45,545.66 for the quarter, that’s a 92.8% savings rate.
It’s a good result, though tempered by the reduction in dividends. Regardless, we’re fundamentally in a good place at a horrible time. We’ve been incredibly fortunate to date, and it’s not something we want to take for granted. Our own job security is slowly coming on the line, so we need to make the most of the opportunity we still have for as long as we have it.
Looking ahead to Q4, just like last year our tax bill is now a looming issue. We haven’t lodged our tax assessments yet, but we have calculated them. We anticipate that our tax will be will higher than last year. So that’ll be one giant savings rate killer in Q4.
Even if we hadn’t gone on holidays at the start of the year, and still achieved fractionally small savings during year-to-date thanks to coronavirus, we’d struggle to hit a 90% savings rate for the entire year. It would be possible, but highly unlikely. However, a bigger tax bill will put the final nail in that coffin.
Of course, some of the biggest economic news of the year hit this week after Q3 ended, with the delayed 2020 Federal Budget finally breaking cover. It looks like we’ll be about $4,000 a year better off (too late for 2019-20 and our upcoming bill, though!). But we’ll have to wait and see how things go with backdated tax cuts and the passing of the legislation. Regardless, we hope you’ll get a nice benefit from the tax cuts yourself if you’re an Australian.
2020 has been one heck of a rocky ride so far. Hopefully the end of the year brings some positively and signs of a return to normality. Unfortunately, I think that even once we get past the virus with a vaccine (and that’s really still an if) we’ll have a bit more instability ahead of us as a result of economic and budgetary damage that’s already happened. But before then, we still need to make it through the final three months of 2020. Gulp.
Until we meet again, we hope you stay safe and secure.
Cheers,
Alex
BLOG POST LINK: https://hishermoneyguide.com/quarter-3-2020-income-and-expenses/
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