Summary: http://www.sportsnet.ca/hockey/2008/09/19/nichols_top100/
As it has become well known, fantasy sports have become all the rage and everyone is getting in on being the General Manager for a season. Checking stats every minute, forcing themselves to watch bad teams play because the picked a certain player, or even replacing their hometown hero with a rival "point machine" may not seem like fun by any stretch of the imagination. But, in order to succeed, these are the things that need to be done. You must understand who a player will perform best against, know how long a player will stay on top, and make sure your picks are getting you points.
Relationship To Chapter One
Chapter One speaks extensively about financial statements and their users. When looking to invest in a business (player), it is necessary to know which direction your investment will take you in. Will it bring you success or hardship? You must not only look at where your investment can go, but where it has already been. Is a player coming off an MVP season? Are they rusty from coming back from injury? Has a stock already peaked so high that it has nowhere to go but down? These are the questions you must ask yourself before making an investment and becoming a shareholder. Anything can happen in the world of business.
Reflection
Fantasy sports and the world of finance reporting aren't so different. You can invest money (points) on a player on the rise, or you can end up wasting everything away on a moneymaking scheme that never panned out because no research went into it. People will drive themselves insane trying to find a player who will produce on the ice and fit onto their roster with the allotted points. It all depends on the research you do, the stats you check, and the player's progression over the course of the season. A player's statistics are recorded so an informed decision can be made as to whether or not they are a safe investment. After all, everyone is in it to win it.
- C. Tut
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5 comments:
I agree with these valid points. I also do attempt on being a general manager for a season and it causes a lot of fuss. For example, I am in a Yahoo Fantasy League for football and we have a cap. This allows us to choose the players we want but we have a limit of how much we can give out. This has relations with financial management because we have a certain amount of money we can sign players with and we can't go over. Many people like me look at stats and how the players did before to see where the money would best fit and this is like investing because in investing, you also want to go to the better place where the profit is increasing and this business is going in a positive direction. So basically, I also have to look through stats of who I want to choose and I do sort out the money that I can spend so that everything would work out the best for me.
Mandeep Dhami, Block A
Cameron, I do agree with your reflection that investing is all apart of doing your homework. You need to view the financial statements and take your time into getting the correct information. Investing is a risky business because its true you never know what to expect one minute your stocks could be at the top and then the next day or even the next few hours they could drop. I don’t think there is ever such a thing as a safe investment, because you never know what to expect. Relating to stocks in my article, you never know with these kind of topics, you just have to go with you gut and hope that you’ve reached a good decision. There are many users of financial statements and a general manager is an excellent example.
The game of investing in a business (player) is a very difficult task. One must read financial statements (stats) and make a wise decision whether or not to invest in the business or player. The wild twist is when investing in something expensive, you may not make any money. This relates to hockey when investing in a high salary player who produces no points. The inexpensive investments one makes can surprisingly make a wealthy profit. Again, this relates to hockey when investing in a low salary player who goes on fire and produces plenty of points. Furthermore, investing is a risky business that takes plenty of research to make a decisive move. Financial statements are used by everyone in to make key decisions.
Cameron, you make some very logical points. I've been involved in many different fantasy leagues; basketball, football, hockey etc.., and I've found that it is difficult making decisions on what player or team is the best choice to make. It kind of relates to the stock market, because you are investing in a player much like a stock and the better your player performs; the more points you gain. Similar to stocks, where when your stock increases, your value increases. Research is a key component to making the right selections, but soemtimes luck can play a major factor; such as when a player gets injured or goes into a prolonged slump.
- K. Jagpal
I see that you put a lot of effort into really defining how online "Fantasy Games" can relate to our future business lives. Some prime examples were shown regarding the knowledge of the players past and goals for the future. Researching is an extremely important part of our lives and is a skill that needs to be learned especially when dealing in the world of business. The point of how not taking a glimpse of your player or money investments into a company is one we should all remember because we can lose it all from a simple mistake like that. Very direct examples helped me understand where you were coming from with this as I could relate much more easily. Although many people would not believe that others would not even bother to take a look at what they are investing in, it is true. It is a sad fact of life because thousands of people lose their entire lives due to one mistake and taking that extra chance. So yes, "we are all in it to win it,"..............but at what cost???
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