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Two national market indexes that may not shine on Monday are those of Spain and the Netherlands, whose soccer teams are scheduled to meet in the World Cup’s championship game on Sunday.
Whichever country’s team loses can expect a drag on its market index of 49 basis points, said Wharton business school professor Alex Edmans. That is the amount that national stock indexes tend to be held back on average on the day after their country is eliminated from the World Cup, according to a paper he published in 2007 with two co-authors, Diego Garcia of the University of North Carolina and Oyvind Norli of the Norwegian School of Management.
In an interview with Reuters, Edmans said his predictions seem to be playing out this year as well, based at least on anecdotal observations. For instance, as an English citizen, Edmans noted ruefully that the FTSE 100 index fell in late June as England’s team played below expectations before being tossed out of the tournament by Germany on June 27 by a score of 4-1.
“As an England fan and an English shareholder I’ve been suffering both ways!” Edmans said.
from The Great Debate UK:
This Sunday will decide the World Cup champion. Yet, most nations will ask themselves again what’s needed to build a world-class national team?
Spain’s Queen Sofia visited the locker room after the national team beat Germany 1-0 in the World Cup semi-final on Wednesday. Most of the players got a heads up and scrambled into their clothes.
But no one warned Carles Puyol, hero of the moment, who emerged from treatment on his knee, wearing only a towel. Discomfitted, the Barcelona defender blushed and scurried to hide behind his teammates.
2010 is almost over – the 2010 Soccer World Cup, that is. In South Africa, we simply referred to the greatest sporting event to hit our shores as 2010. For years since it was first announced that South Africa would organise the 2010 Soccer World Cup, the country has been collectively, and sometimes not, looking forward to the day when the world would see what the rainbow nation is about.
The task ahead was difficult because South Africa had to build from scratch and also improve existing structures. The threat of the “Plan B” was often bandied about at will when it seemed as though we were not living up to our promises.
That being the case, there’s hardly any point in playing Wednesday’s semi-final between Germany and Spain — the Spanish have got it won.
No other sporting event has the same impact as the World Cup. Entire countries grind to a halt to watch games, no more so than Brazil where shopping and banking hours are completely altered throughout the tournament month and many just take an official month-long holiday. Politicians jump on the bandwagon, making a big thing of how much they are supporting the team, and launch government inquiries when their teams fail.
Entire reputations can be shattered as Juan Sebastian Veron discovered in 2002, when he was vilified for Argentina’s first-round exit, and Ronaldo experienced four years later when some saw as excess kilos around his waist became an affair of state and were blamed for Brazil’s quarter-final elimination.
It is 20 years since their last semi-final, 24 since their second and last title and three successive World Cups in which Argentina have been hailed as playing the best football with some of the planet’s most talented players yet fallen short.
Post-mortems abound in the Argentine media and in coffee bar discussions throughout Buenos Aires about the reasons for continued failure.
A devastated Diego Maradona left his future open after Argentina’s painful 4-0 defeat by Germany in the World Cup quarter-finals on Friday.
Maradona said defeat was like receiving a punch from Muhammad Ali and there will be many who will criticise the coach for his squad picks, team selection and tactics after the country’s heaviest World Cup loss since 1958.
Join us for a look back at the extraordinary first two quarter-finals at the World Cup and a look forward to Germany v Argentina and Spain v Paraguay. Paul Radford, Felix Bate, Jon Bramley and Kevin Fylan argue over the merits of penalty goals in soccer and consider Ghana’s desperate misfortune.