| Posted: 28 October 2009 at 11:24am | IP Logged
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Admin- can you sticky this so it stays at the top. Want to keep one thread for this please.
Great news guys. Spoke with the gaffer last night and there is $500 confirmed and ready to go. We will open a new account this week and transfer the money into it so we can kick into gear. I do apologse if this takes til next week, its a massive week here in my neck of the woods workwise.
Anyway, the proposed terms of engagement- members please sing out if you want to add anything!:
Shares
As per the other thread, the following people have shares based on the initial investments:
Redeye, Dime, Farmerj, Panda- 2 shares each
Whiteheart, Howie, Elliot, Bova and Razor- 1 share each
So $500 / 13 shares = a value of $38.46 each share on the current kitty.
Leaving/ Joining
In theory this can be done at any time, by contacting one of the Pandapool admins and payout or buy in will be based on the current share value like above.
Administering the thing
Panda and I will set up the TAB account and be administrators for it. We're happy to add one or two more on if people want more security than just us too. Dime and Rat have been mentioned.
Staking Plan
This is Pandas baby, based on another syndicate he's part of with some successes behind it. Its important to have a plan so none of us make stupid bets. A good staking plan with a long term view will grow the dosh in most cases. Suggestions are:
- No more than 5% of the pool can be bet with any given week. This allows a steady incremental gain to be made without ever emptying the thing- therfore a long term view if you like. Panda assures me this has worked by providing a balanced view to the big picture
- One of us will suggest the bet(s) each week and put it to the group. People will then say yes or no to their support and if more say yes than no the bets will be placed by one of the admins. If anyone is silent it will be construed as saying yes to the proposed bet(s).
- The will be bets each week, except perhaps over Xmas and New Year, and we will include upcoming major horse racing cups such the NZ Cup, Melbourne Cup, etc etc.
- Any other suggestions folks?
If you completely hate any of that just say so now or forever hold your piece, this is a syndicate not a dictatorship. So speak up!
Order of betting
I want to suggest Dimebag goes first, since hes had the most success in the group. Then we can just go alphabetically for the rest of us or whatever.
PM me if you want or email direct tonysharpe@paradise.net.nz
NB, still haven't heard from Eliot, will presume we blather on with or without him and we can pay out his share if and when he lets us know
Edited by razor sharpe on 28 October 2009 at 11:27am
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Topic: New Updated Panda Pool
