The Power of the Ordinary #LCFC

Warren Buffet

It was all super- ordinary! Mayhem in the Jamie Vardy House, Gary Lineker pondering a new career in lingerie and Gus getting a call from Claudio, thanking him for Chelsea’s second half performance

 

 

If the word “surreal” was made for anything, it was made for yesterday and above all Claudio’s day out to have lunch with his 94 year old Mum. If that doesn’t put the whole Premiership circus in its place what will! “No comment” from the boss who probably went out for his traditional Monday night pizza.

Leicester ran

If you want to understand what sport supporting Leicester following these Foxes can be, check this vid!

Leicester’s two top spokespeople are “blokey mcbloke”.

Gary, (family man) Linacre (the boy) and Robbie Savage, sporting some strange South American rodent on the top of his head. Neither showed any capacity to hide their feelings on TV. Despite desperate apologies to his former club, the sight of Linaycre revelling in having had a Leicester season ticket since he was 7 , was the highlight of the evening. Tottenham is a great club- but nobody was sorry when Hazard sliced that beauty into the top right-hand corner!

Leicester is a place so ordinary that they bury their greatest historic relic under a car-park. Leicester, the 9th biggest City in the UK has a bunch of professional egg chasers who nobody likes and a set of Foxes who are the glory of a nation.

leicester city

 

You cannot take the ordinary out of Leicester, Leicester was made for the ordinary fan, the ordinary player and the ordinary manager and what happened last night, and will happen again this Saturday and Saturday week will mean more to football than the Tigers can ever mean to Rugby (or the town).


 

For a dispassionate analysis of the financials , look at yesterday’s blog.

Leicester

Leicester’s first team cost less than Lionel Messi’s new car and “Dilly Ding, Dilly Dong” Ranieri has shown that football (and sport in general) is less about PWC than TLC.

During half-time, I ignored the snooker and read an account of Warren Buffet’s latest “rant” to shareholders. It didn’t sound like a rant to me, more a poke in the ribs at hedge fund managers and investment consultants who’s high frequency trading does more harm than good  – to the companies invested in – to the shareholders and to the their trade.

The Wall Street Journal’s Account is as sane and down to earth as Ranieri, Savage and Linnaaycre. You can read it here

Yet again Buffet exposes the vanity of human wishes.

“Supposedly sophisticated people, generally richer people, hire consultants, and no consultant in the world is going to tell you ‘just buy an S&P index fund and sit for the next 50 years.’

You don’t get to be a consultant that way.

And you certainly don’t get an annual fee that way. So the consultant has every motivation in the world to tell you, ‘this year I think we should concentrate more on international stocks,’ or ‘this manager is particularly good on the short side,’ and so they come in and they talk for hours, and you pay them a large fee, and they always suggest something other than just sitting on your rear end and participating in the American business without cost.

And then those consultants, after they get their fees, they in turn recommend to you other people who charge fees, which… cumulatively eat up capital like crazy.”

Yet again he has made money because the egos of those who need to drink the cool-aid, gives him the opportunity to make money from ordinary things.

“And the consultants always change their recommendations a little bit from year to year.

They can’t change them 100% because then it would look like they didn’t know what they were doing the year before.

So they tweak them from year to year and they come in and they have lots of charts and PowerPoint presentations and they recommend people who are in turn going to charge a lot of money and they say, ‘well you can only get the best talent by paying 2-and-20,’ or something of the sort, and the flow of money from the ‘hyperactive’ to what I call the ‘helpers’ is dramatic.”

Like Jamie Vardy, Buffet understands the “Power of the Ordinary”.

Maybe the gaffer will be buying another round of Pizzas now.

 

About henry tapper

Founder of the Pension PlayPen, Director of First Actuarial, partner of Stella, father of Olly . I am the Pension Plowman
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1 Response to The Power of the Ordinary #LCFC

  1. Zada says:

    here is a lot to read.

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