5 Cheltenham Festival Bankers

March 5, 2020

Even at a premier horse racing meeting like the Cheltenham Festival, some events are less competitive than others. There are some strong favourites to win over the four days from March 10 to 13.

Who are these banker horses fancied for Festival glory? Check out these Cheltenham horses to follow on the big stage.

Carefully Selected

Everything has seemingly fallen neatly into the lap of Willie Mullins’s Carefully Selected for the Grade 2 National Hunt Amateur Riders’ Novices’ Chase on the opening day of the Festival. The trip of three-and-three-quarter miles takes some getting used to, but ante-post rivals have fallen by the wayside.

Injury to Champagne Classic and Copperhead running in the RSA Chase on Ladies Day leaves this race at the mercy of this Mullins mount. Carefully Selected has been laid out for this after winning two Grade 3s in Ireland, so it’s no wonder he’s 13/8 in the betting on the Cheltenham Festival 2020 here.

Envoi Allen

Gordon Elliott’s Envoi Allen has won all previous eight career starts, including the Champion Bumper at the Festival last year. He has won two more Grade 1s after going over hurdles this season and is all the rage for the Ballymore Novices’ Hurdle that opens the Wednesday at Cheltenham.

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Envoi Allen sets a clear form standard for this two miles and five furlongs race. He should get the trip no problem after winning over two-and-a-half miles at Naas last time out and comes fresh. This is why the six-year-old is 5/4 favourite to extend his streak.

Tiger Roll

Dual Grand National winner Tiger Roll has also taken the Cross Country Chase in each of the last two years and is set to bid for a hat-trick at Cheltenham. This remarkable horse has won at four previous Festivals and loves the unique test of jumping a variety of obstacles on the Cross Country course.

The 10-year-old is sure to come on for a spin over hurdles at Navan last time out. Despite the presence of young French challenger Easysland, that rival hasn’t achieved anything like as much as the Aintree and Cheltenham legend, so Tiger Roll is an even-money favourite for Cross Country glory again.

Paisley Park

One of last year’s hot Cheltenham racing tips, Paisley Park, is back to defend his Paddy Power Stayers’ Hurdle crown on St Patrick’s Thursday. Like Envoi Allen, Emma Lavelle’s star sets a clear form standard and has won seven races in a row.

After being rapidly progressive last season, Paisley Park has continued to stamp his authority on the staying hurdle division. He has beaten pretty much all the competition, so is odds-on at 4/6 with the race sponsors to retain his title.

Appreciate It

Mullins loves the Champion Bumper, a National Hunt Flat race where no obstacles are jumped. Appreciate It was very impressive in winning a Grade 2 at the Dublin Racing Festival and came third in the same Irish point-to-point race won by Envoi Allen before beginning his career under Rules.

The six-year-old has very strong form on his side and stays further which bodes well for Cheltenham. Appreciate It looks more mature than stable companion Ferny Hollow, who can be difficult to settle, so is 13/8 to land the Champion Bumper.

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How Much Money Do You Need to Live Off Investments?

Living off investments defines financial independence, but getting there can be challenging. How much money do you need to live off investments? Here’s the formula: Divide the desired annual income by the expected yield. If you want $10,000 monthly investment income, and expect a 5% yield, divide $120,000 by 5% for the amount of money you’ll need to live off investment income, or $2,400,000 in this example. This is the simple formula to show how much money it will take for you to live off investment income only since yield is a measure of the income an investment generates. In other words, you want to live off the income your investments generate, without spending your investment capital. This is the ideal way to live off investments, so you don’t have to deplete your investment capital. After we stumbled into early retirement in late midlife, we pondered how much money we needed to live off our investments. Knowing we didn’t want to begin depleting our savings, we began creating diversified income streams and did so over the next 15 years. I’ll share what I’ve learned about estimating how much money you need to live off investments, and what all you’ll want to consider before attempting to live off your money. There’s some super important risk related factors you don’t want to miss so be sure to read this entire post. Beyond Investment Income We all love simple formulas. However, there are several more factors you’ll want to keep in mind as you use the formula above to estimate how much money you need to live off investments. First, the reality is that traditional investment income alone doesn’t generate enough money for most people to live comfortably in retirement. You can see that for someone with $2,400,000, making $10,000 a year is achievable since a 5% annual yield is doable for proactive investors. Yet studies show that most people don’t have anywhere near $1,000,000 put aside for retirement, let alone over $2 million. Additionally, most people aren’t getting a 5% yield on their investments, particularly given the popularity of index funds, which usually have very low yields. Second, the norm in retirement planning is to withdraw and live on a set percent of your investment accounts. These withdrawals typically have to dip into more than just investment income for almost everyone, unless investors have chosen to invest in higher yielding investments, or they have a lot of investment capital earning income. As a result, capital gains and maybe even invested capital (aka, your hard earned savings) are needed to live in retirement for most people, in addition to only investment income. In order to make sense of all of this, let’s explore the layers of your nice, prosperous investment account, which I’ll equate to a chocolate layer cake. Investment Income, Capital Gains and Savings Investment income, capital gains, and invested capital can be thought of as different layers of your investment accounts. It’s very important to understand these layers in determining how much money you need if you’re planning to live off investments at any time in the future. That’s because steps can be taken to increase income from investments or elsewhere freeing you from the need to continuously dip into the capital gains and savings layers for large amounts. In this post, I’ll explain the difference between those three potential layers for living off investments so you can see what your options are and how you might go about being able to live off investments at the age you choose. Like you may do, I equate living off investments to financial independence and/or retirement without financial struggle or worry. Living Off Stocks and Bonds Only In this post, first I’ll focus mostly on living off investments in stocks and bonds since these are the most common investments. The reality is, however, there are a lot of ways you can live off investments when you consider real estate and small business investments in addition to stocks, bonds, and slightly alternative investments such as MLPs and REITs. I’ll disregard other potential income sources, such as social security in this post, especially since you may be younger than the common retirement age of 63 like we were when we began living off investments and alternative income streams. Potential Income From Living Off Investments Money Available Yield Investment Potential Assets $2,400,000 5% $120,000 High Yield Assets $1,000,000 3% $30,000 Devident Stocks $500,000 3% $15,000 Devident Stocks $1,000,000 7% $70,000 Alternative Investment $1,000,000 10% $100,000 Covered Call Strategoies Using Account Size and Yield to Determine How Much Money You Need When you’re considering how to live off investments, first, you’re faced with the decision of whether to live off income from investments only, as in the example above, or spending your savings (investment capital) to live. Whether or not this is really an option depends on how much money you have, and how much yield you’ll earn on investments, so let’s start there. For example, if you have $1,000,000 earning 3% from dividend stocks, this will generate $30,000 income a year (before considering taxes or wealth management fees). If you have $500,000 earning 3% in dividends, the income generated will be $15,000 a year. A 3% income yield from traditional stock and bond portfolios is realistic if not overly optimistic these days. The yield can be improved, however, as I’ll explain more later in this post. This simple math is very telling. This is because, in this example, we’re focusing on investment income only vs capital gains from your investments. Capital gains are the increase in value your investments have had, not the income they generate. Most people who live off investments, however, don’t just rely on investment income for several reasons, as I’ll explain next in more detail. If you’re confused about this, click here to read my post How to Understand Your Investments. First, however, let’s dig into exactly what those layers of investment income, capital gains, and savings (or initial deposits) >>Read more
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SeaWorld Interim CEO Marc Swanson’s Address at IAAPA Virtual Conference Focuses on Resilience

The International Association of Amusement Parks and Attractions (IAAPA) serves as a cohesive force within the global attractions community. The respected industry organization’s annual conference offers opportunities for learning, networking, and sharing best practices across the industry. SeaWorld’s Interim CEO, Marc Swanson, served as one of the keynote speakers for this year’s virtual event. Swanson discussed the Management Team’s strategy for navigating the pandemic collaboratively. Forecasted Increases in Revenues and Margins Increased revenue prospects and sustained cost reduction measures will potentially produce $155 million to $285 million in Adjusted EBITDA. These projections are based on the parks’ aggregate 2019 guest attendance levels. Assuming the 2019 gate figures, the total implied Adjusted EBITDA is estimated to range between $600 million and $750 million. 2019’s Adjusted EBITDA margin was 32.7 percent. With revenues projected to increase, and continued cost reductions, the implied Adjusted EBITDA margin would have risen at 2019 attendance levels. Given these parameters, the margin would have positioned itself in the 41.3 percent to 48.9 percent range. This represents an increase of more than 800 basis points. Strategies for Achieving Business and Revenue Growth SeaWorld’s Interim CEO, Marc Swanson, described the benefits of collaborative partnerships in addressing “operational costs and maximizing our financial flexibility, giving us some breathing room to make the difficult decisions with some degree of confidence.” Speaking to the effective communication between SeaWorld’s Chairman of the Board of Directors, Scott Ross, and the leadership team, Swanson added, “Our partnership with our Chairman and our other Board Members allowed our company to adjust and move forward with more creativity and nimbleness than we had before. Having a large investor on the Board allows us to align our goals and move even more confidently and decisively.” The Board’s decisive actions could help to realize $135 million in increased revenues. This estimate uses 2019’s aggregate attendance levels of 22.6 million guests as a baseline, and focuses on: Stronger focus on revenue generation with a dynamic parks’ pricing model as the foundation of this strategy. Enhanced park features including new and/or improved venues, additional food and beverage options, and updated merchandise choices. Buildout of an in-park mobile app that encourages onsite guests to experience additional venue offerings. Development of an innovative CRM framework to improve guest and valued pass holder communications and create mutually beneficial partnerships. Reorganization of the marketing team to increase promotional campaigns’ reach and effectiveness. Actions Completed to Enable Strategic Goal Achievement As one of the keynote speakers at the IAAPA Virtual Conference, Marc Swanson outlined ongoing actions led by SeaWorld Entertainment Inc.’s Board and Scott Ross, Chairman of the Board of Directors. These developments began in 2019, and will bring sustained benefits throughout 2021 and into the future: Top-down departmental centralization, such as human resource management and revenue management aimed to streamline internal processes, with a strong focus on the cultivation of internal centers of excellence, decreasing the need for use of third-party consultants. Redesign of Corporate-level operations to better anticipate parks’ attendance fluctuations, and updated line schedules to more closely reflect in-park guest attendance numbers. Operational flexibility is enhanced through a variable cost framework. Consolidation of media agencies and enhanced utilization of in-house creative resources will lower marketing costs. Developing right-sized media spend and flexing that responds to current market conditions and relevant restrictions. Continued emphasis on company-wide utility cost reductions with the ongoing adoption of energy-efficient practices and negotiated utility rate savings. The utilization of undeveloped land facilitates the completion of targeted construction initiatives, increasing warehouse space while decreasing leased building expenses. Complete cessation of off-site equipment rentals and storage facility use. Sustained Health and Safety Emphasis While pursuing desirable revenue enhancement and cost reduction goals, SeaWorld will continue to prioritize guests’ and team members’ health and safety. The Management Team will consistently devote all needed resources to this goal, and funds allocation will not be affected by cost reductions and/or operational limitations. SeaWorld will continue to follow health and safety recommendations from state and local health authorities. To inform the Management Team’s decisions, updated scientific knowledge about COVID-19 transmission and evolving protocol recommendations are regularly reviewed. Through an ongoing emphasis on maintaining stringent health and cleanliness standards, SeaWorld has allowed guests to keep enjoying memorable park experiences, while every effort is made to ensure their collective well-being.
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What Happens if I Hurt My Back at Work?

There are many ways you can injure your back at work, and that’s why back injuries represent approximately 20% of all workplace injuries. Each year, one-million workers will hurt their back on the job, and this causes more lost man hours than anything other than the common cold. There’s a good chance you could hurt your back, too, so it’s important to know what to do if it happens to you. What to Do if You Are Injured The very first thing you need to do if your back is injured at work is to take care of your health. Make sure you report your injury to a supervisor or have a trusted coworker do it for you, and then get to a doctor to get checked out. Some people end up making their injury worse because they don’t want to miss work. This may be because they’re afraid there will be repercussions, they don’t want to look bad, or they don’t want to lose the money. All workers are covered by workers’ compensation insurance, so don’t let this stop you from going to the doctor. You can click here for a free consultation to review your case if you need more information or if your workers’ comp case is denied. Workers’ comp may cover: Up to two-thirds of your lost wages Your medical bills The cost of transportation to medical appointments The cost of therapy Any other expenses associated with your injury You may not think your injury is serious enough to see a doctor, but any back injury has the potential to get worse without treatment. How Work-Related Back Injuries Happen The best way to avoid injuring your back is to understand how these injuries happen. You should also always make sure you are wearing the proper safety apparel and that it fits correctly. If you’re doing any of the following, be extremely cautious: Heavy lifting Pushing Pulling Twisting Poor posture can also cause back problems, so you also need to be careful if you sit at a desk all day. Automobile accidents and falls from high places are also common workplace accidents that can cause back injuries. 5 Common Types of Back Injuries The following types of back injuries are far from the only ways you can hurt your back, but they are the most common. Spinal Cord Injuries Spinal cord injuries are one of the most serious types of injuries you can get, and they can cause paralysis. This is also one of the most expensive types of injuries. People with spinal cord injuries may need multiple surgeries and require years of medical treatment. Herniated Disc If one of your vertebrae discs moves out of place, it can cause the soft tissue between your discs to break down. The result will be a herniated disc, which will cause your bones to press on your nerves and cause a lot of pain. Whiplash Whiplash is the most common type of back injury you can get at work. This injury can be caused by the force of an impact, and it can cause symptoms that will seriously interfere with your life like headaches, dizziness, blurred vision, stiff neck, fatigue, and even limited mobility. Thoracic Spine Injuries Your thoracic spine is the area of your back that goes from your chest down to the bottom of your ribs. Injuries in this area are usually caused by the force of impacts, and it can cause permanent nerve damage. Lumbar Spine Injuries Lumbar spine injuries affect your lower back. Sprains or strains in this area can interfere with your ability to perform daily tasks because they can seriously limit your ability to move. These injuries can also be incredibly painful. It’s important to take any back injury seriously. If you’re hurt, see a doctor to make sure you have an official medical record that documents the injury. You could need this if you end up being involved in a legal case.
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About James River Capital

James River Capital is a Virginia-based alternative investment enterprise. Initially, the firm was only a department in Kidder, Peabody & Corp. After the purchase of Kidder, Paul Saunders and his partner bought the investment firm. Under their leadership, they restructured and rebranded the investment firm. The duo had the investment firm registered by SEC and CFTC. Through Paul Saunders’ leadership prowess, the investment advisory firm has had enormous returns since its establishment in 1995. The enterprise’s robust growth has seen it receive numerous recognitions such as the US Hedge Fund Award in 2014, Investors Choice Award, Invest Hedge Award, and Live Wire Winner Award. About Paul Saunders Paul Saunders, James River Capital’s co-initiator and CEO, is a graduate of the University of Virginia with a degree in Economics. Saunders also holds a University of Chicago’s MBA. According to Saunders, his choice towards an alternative investment career was motivated by the fact that the job offered him advancement based on merit rather than on progression. For over two decades, he has grown career-wise to become a respectable figure. The idea to establish the firm emerged while working at Kidder Peabody’s alternative asset department. Saunders has always had interests in starting his own business and avoiding bureaucracy associated with most international firms. Saunders and his partner bought off the alternative investment department and relocated its offices to Richmond, a warmer place for them. They then renamed the company James River Capital. A typical day for Paul Saunders starts with exercises and workouts, which he has observed throughout his lifetime. Workouts energize him throughout the day by giving him the appropriate mental state, hence becoming more productive throughout the day. Saunders then reports to work and starts his everyday chores that involve reading mails, zoom meetings with clients and business partners, and reviewing available private equity investments. Saunders’s experience in the field has enabled him to make the right decisions about his daily idea. His role as the overall decision-maker requires him to know how to bring good ideas into life. One of the most exciting trends for Paul Saunders is the possibility of having employees working remotely. Saunders is proud to have a diligent team that works remotely at level best, even without supervision. Through technology, he can interact and learn about their welfare and their work progress. According to Saunders, happy employees are more productive; hence Saunders socially engages his team regularly. He must motivate the employees for them to become more productive. Paul Saunders advises young and aspiring entrepreneurs always to take advantage of the available opportunities in their lives. As they work hard, they should appreciate what they have now as time flies very fast. To Saunders, money doesn’t necessarily bring happiness, although it makes one financially secure. Upcoming entrepreneurs should also learn to focus on a single objective at a time to avoid dividing their attention. When there are many available opportunities, it’s always advisable to concentrate on a single opportunity at a time to avoid losing focus and failing. Focusing on a single opportunity creates less stress, and one can measure the progress of the task. The exploitation of available opportunities and taking risks has seen Saunders take his business to the next level. However, investors should not invest in an enormous figure that may make them bankrupt in case of failure. It’s always advisable to invest wisely and progressively add more assets as the project grows. In his career, Paul Saunders has had numerous failures. Fortunately, Saunders had more successes than failures. He attributes the failure to focus on the projects instead of team management. Proper team management has led to his success in private equity investments. Although business people should work hard, they should focus on being smart in their endeavors.
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Car breakdown safety

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5 Cheltenham Festival Bankers

Carefully Selected

Envoi Allen

Tiger Roll

Paisley Park

Appreciate It

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