Football's lessons on being an underdog
Underdogs are more than capable of causing upsets
[SINGAPORE[ Watching Malaysia Cup matches in the 80s probably taught Apollo Global Management Singapore CEO Tan Chin Hwee his first lessons on investing - and the loaded significance of being an underdog.
"I had a rude awakening when I realised that our national team was an underdog in the tournament," recalled Mr Tan, whose affinity with the sport goes back to his teenage years when his father first took him and his siblings to the National Stadium.
"But underdogs are capable of causing upsets, which is what the World Cup is all about. That's why I am adopting South Korea," said the avid Liverpool fan, who also sits on the board of Singapore Press Holdings.
He is one of the 22 CEOs taking part in the BT-Coca-Cola World Cup Charity Drive. BT is looking for 10 more CEOs to adopt a World Cup finalist each as the tournament plays out in Brazil (June 12 to July 13). The corporate chiefs will face off against each other on paper whenever their team plays. The charity drive, organised by The Business Times (BT) and Coca-Cola, hopes to raise about $130,000.
For each fixture, the losing CEO will donate $2,000 to charity. If it is a draw, both CEOs will donate $1,000 each. The maximum amount that a CEO would eventually fork out in this month-long tournament is $8,000.
And because the donations qualify for tax deduction, corporate funds would score well for companies. The beneficiaries are BT's Budding Artists Fund and Singapore Sports Council's SportCares, both of which are approved charities.
Participating CEOs will be featured in our daily World Cup page whenever their team plays, together with a short comment on the impending match.
Statistical sense
Mr Tan's decision to pick South Korea is not without circumspection. The Asian founding partner of Apollo Global Management, who is highly regarded for his analytical expertise, said: "Statistically, it may not make any sense to pick the South Koreans, but I think the probability of upside is high. Few ethnic races work harder than the Koreans, and the new team consists of 10 players who came through the youth academies of the current European clubs that they play for."
He added: "What's more, they are now coached by their charismatic former captain and defender (Hong Myong Bo)."
His realistic blue chip team, however, will be Argentina, whose imposing track record makes them one of the favourites to win the cup. "We grew to love sports in general, and drew life's lessons from these fields. (One lesson I apply) in my investing career is that you are as good as your last deal," he explained.
CEOs keen to sign up for the charity drive can write to chuamc@sph.com.sg
Format
Thirty-two CEOs will be assigned to each of the 32 teams (either by a draw or by choice, which carries a $2,000 one-time price tag).
The CEOs will face off for each match on paper. Losing CEO pays $2,000. Winner doesn't pay anything. If the match ends in a draw, both fork out $1,000.
The maximum amount that a CEO is expected to donate is $6,000 (or $8,000, if you decide to pre-select a team).
The minimum number of matches that each CEO is exposed to is three. The maximum is seven.
Funds donated can be from corporate funds and enjoy tax credits.
Donations will be disbursed equally between The Business Times Budding Artists Fund and Singapore Sports Council's SportCares Fund, both of which are approved charities.
The teams (still available): Algeria, Australia, Bosnia-Herzegovina, Cameroon, Colombia, Costa Rica, Croatia, Ecuador, Ghana, Greece, Honduras, Iran, Ivory Coast, Nigeria, Russia, Switzerland.
