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Business / A Post-truth World: Why Ronaldo Did Not Move Coca-cola Share Price by not4sure(m): 7:48am On Jun 21, 2021 |
Before Portugal’s Euro 2020 football championship opener, Cristiano Ronaldo was preparing for a pre-match press conference. Two minutes before it began, the Juventus megastar forward put aside the two Coca-Cola bottles placed in front of him and said “agua” (water) while smiling to the journalists. The reaction to this playful gesture, which included a slew of news articles saying that Ronaldo’s actions were responsible for wiping $4 billion off of Coca-Cola’s market value, has come to illustrate a grave problem. A post-truth world In 2016, the Oxford English Dictionary’s Word of the Year was “post-truth.” Post-truth is defined as “relating to or denoting circumstances in which objective facts are less influential in shaping public opinion than appeals to emotion and personal belief”. The phrase gained prominence during the Trump presidency and the UK’s Brexit referendum. But there is a deluge of unsupported claims made every day by people whose prominence helps shape public policy and opinion. Over the past year of the pandemic, for instance, we have all listened to people without any medical qualifications expound on the health crisis. Unfortunately, their comments frequently influenced decision-making. In the current (social) media landscape, truth can be deliberately manipulated, and disinformation is a growing business. Importantly, we, the readers of information, are naturally programmed to accept ‘evidence’ that supports our pre-existing views (i.e. confirmation bias) and disregard opposing arguments. This phenomenon affects individuals and businesses. And it has the potential to undermine democracy. Misleading headlines Given his global superstar status and vast social media reach, Cristiano Ronaldo’s actions moving the Coca-Cola bottles are likely to have implications. However, a few hours after the Euro 2020 opener, a rash of articles had appeared all over the world suggesting that Ronaldo’s distaste for unhealthy Coca-Cola products had wiped out $4 billion of the brand’s value. A slew of business publications echoed the thought. Many quoted the Spanish newspaper Marca, which had “analyzed the [Coca-Cola] data from the New York Stock Exchange.” Other outlets simply repeated the message without citations: Some commentators concluded that one man, from a relatively small country, could sink a US multinational. Others praised the taste-making power of influencers, and argued that more companies should elevate them in their marketing plans. Yet so much of this conjecture was built on a shaky, if not false, premise The incident reveals the importance of critical thinking for business leaders, and the reading public, especially now. What else moves share prices? It is true that Ronaldo, in front of the press, declined to drink the strategically-placed Coca-Colas on offer. It is also true that, by the time the press conference was over, Coca-Cola’s value was down $4 billion. However, there were other factors affecting the beverage giant’s stock price. Some non-alternative facts: Coca-Cola has 4.3 billion shares, and closed on Friday, June 11, with a share price of $56.16 for a market value of $242 billion. On Monday, June 14, Coca-Cola opened lower, at 9:30 a.m. EST. At 9:40 a.m. EST, its stock price was $55.26 (down 1.6%) and the market value had dipped to $238 billion, $4 billion lower than the prior day. Cristiano Ronaldo moves the Coca-Cola bottles at 9.43 a.m. EST, and says “Água”. It is a fact, then, that Coca-Cola’s market value was already down $4 billion by the time of Ronaldo’s snub. Instead, various factors which have nothing to do with CR7 explain the drop. For instance, at 9.40 a.m. EST, the whole US stock market was trading low. Ford Motor Company was down more than $2 billion in market value. Stock movements are often too complex to attribute to a single factor. Rather, they are vulnerable to “confounding events” that happen concurrently and whose relationship to each other is blurry. Another fact: On June 14, Coca-Cola shares became ex-dividend. This technical term is easy to understand. When you own company shares, you receive dividends on certain days. In Coca-Cola’s case, this date was announced more than a year in advance. Once Coca-Cola became ex-dividend, that dividend had already been distributed. Of course, on the day that stocks cease to carry dividend rights, share prices adjust mechanically to a lower number. In this case, the ex-dividend date happened to coincide with Ronaldo’s conference call. A final fact. From the moment CR7 moved the bottles (9.43 a.m. EST), until the end of the Wall Street trading day, Coca-Cola’s share price went up $0.30, adding $1.3 billion in valuation to the company. Why should we care? Why should we care about the post-truth issue? Because the topic obviously extends well beyond sports and stock markets and can have severe, widespread consequences beyond a dented stock portfolio. Fake news, and cherry-picked information, can arise from simple mistakes made by inexperienced individuals. They can also be sophisticated and deliberate in their attempts to mislead. Lies spread rapidly, especially on social media, and can potentially deceive voters and business leaders, as well as being used to justify government policies. There is a clear danger to individuals, companies, societies, and even democracies What can we do? The first step is to recognize that we have these biases. Then we must understand how these biases affect how we view news. Finally, there are methodological steps one can take, to make sure we do not fall into these traps. To start, understand we live in a post-truth world. Do not accept a fact as data. Sometimes, even large-scale data is not enough, because there are issues regarding the quality of the data. Storytelling is an important tool. And a lively story tends to make an argument more vivid. Still, we must be aware of the dangers of accepting a single story as hard evidence. Written By Nuno Fernandes, Full Professor at IESE Business School and the author of “The Value Killers. How Mergers and Acquisitions Cost Companies Billions—And How to Prevent It” and “Finance for Executives: A Practical Guide for Managers” https://www.forbes.com/sites/iese/2021/06/19/a-post-truth-world-why-ronaldo-did-not-move-coca-cola-share-price/?sh=e7db490efbb7 1 Like
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Politics / Re: Farouq Yahaya Escapes Boko Haram Ambush And Attack by not4sure(m): 8:41am On Mar 02, 2021 |
OfficialGaGa: What meaning of this please? |
Politics / Re: Farouq Yahaya Escapes Boko Haram Ambush And Attack by not4sure(m): 8:40am On Mar 02, 2021 |
Farki: Oga I am not saying they should not report attack but the media are always silent when there is victory from the part of Nigeria Army. Balanced reporting is what I am asking for |
Politics / Re: Farouq Yahaya Escapes Boko Haram Ambush And Attack by not4sure(m): 8:10am On Mar 02, 2021 |
Monogamy:says who ? For Boko Haram, No they are desperate now, hence the reason they are looking for soft target. The truth is Nigeria media needs to stop promoting their propaganda and report more win from Nigeria Army 3 Likes |
Technology Market / Mac Pro 2018 For Sale by not4sure(m): 8:10am On Feb 02, 2021 |
I have neat Mac Pro 2018 for sale. Screen needs to be replaced Price #170,000 slightly negotiable Whatsapp/call 07064989877 Charger & Carton inclusive
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Health / TVC EXCLUSIVE: How COVID-19 Patients Are Battling With Deadly Virus by not4sure(m): 2:37pm On Jan 15, 2021 |
TVC Exclusive report on COVID-19 Patients at IDH Yaba https://www.youtube.com/embed/Y88Y1Y_mUD8 People please let's stay safe |
Celebrities / Re: Mercy Eke Confirms She Is Married, Says She Broke Up With Ike Months Ago by not4sure(m): 6:31pm On Nov 03, 2020 |
NobleAngell: You must ask her |
Politics / Re: Reno Omokri Reacts As Trump Sends Soldiers To Rescue 1 Man, Calls Out Buhari by not4sure(m): 8:30am On Nov 01, 2020 |
magicfinger223: As your boss rescue Chibok girl 1 Like |
Politics / VIDEO: I Don’t Own Lekki Toll Gate. Tinubu by not4sure(m): 5:04am On Oct 22, 2020 |
https://www.youtube.com/watch?v=dQ-czhFThBM Tinubu in a call with channels tv claimed that he is not the owner of Lekki Concession Company See video below https://www.youtube.com/watch?v=dQ-czhFThBM |
Politics / Buhari Submits PIB To National Assembly, Scraps NNPC, PPPRA In New Bill by not4sure(m): 8:19am On Sep 28, 2020 |
The President, Major General Muhammadu Buhari (retd.), has transmitted the much awaited Petroleum Industry Bill 2020 to the National Assembly and has proposed the creation of the Nigerian National Petroleum Company Limited. https://punchng.com/buhari-submits-pib-to-national-assembly-scraps-nnpc-pppra-in-new-bill/ 16 Likes 4 Shares
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Religion / Re: Pastor Paul Enenche Responds To Daddy Freeze, Calls Him A Mad Dog And A Bastard by not4sure(m): 12:34pm On Sep 12, 2020 |
Omoosukejo: Deep thinking �. I am not in anyway supporting Freeze, All I am saying is they should leave the fight for God, it’s not their battle. Even Peter cut the ear of one of the Soldiers that came to arrest Jesus, we know the rest of the story now. Abi |
Religion / Re: Pastor Paul Enenche Responds To Daddy Freeze, Calls Him A Mad Dog And A Bastard by not4sure(m): 1:39am On Sep 12, 2020 |
smileclement: If they are doing this for Bishop what will they do for Jesus Christ that was persecuted for everyone. O ga oo 230 Likes 10 Shares |
Politics / Re: Oshiomhole Works For Me, He Is Not My Godfather – Ize-iyamu by not4sure(m): 9:20am On Aug 24, 2020 |
Ctorch: Everyone needs a mentor/godfather in politics at least at the early stage of political journey |
Politics / Re: Projects Of Governor Godwin Obaseki In Edo In Pictures by not4sure(m): 10:49pm On Jul 09, 2020 |
NextGovernor:pedestrian bridge |
Crime / Re: Hushpuppi Responsible For Diverting Money From SS Lazio by not4sure(m): 9:51am On Jul 05, 2020 |
This guy will end up as one of the biggest modern fraudster 475 Likes 22 Shares |
Health / Re: COVID-19: 10 Nigerians Awaiting Evacuation From UK Test Positive by not4sure(m): 7:29am On Apr 14, 2020 |
PDJT:Oga even America ask their citizens to pay for their tickets before leaving Nigeria 1 Like 1 Share |
Crime / Gunmen Kill Two Persons In Kano – Police by not4sure(m): 6:17pm On Mar 03, 2020 |
The Kano State Police Command has confirmed the killing of two persons by suspected gunmen in Bagwai town of the state on Monday night. The command’s spokesman, Abdullahi Haruna, a deputy superintendent of police, confirmed the incident in an interview with the News Agency of Nigeria (NAN) in Kano on Tuesday. Mr Haruna said the gunmen attacked some shops and shot three people, two of whom died after they were rushed to Bichi General Hospital. “The gunmen shot sporadically with bullets hitting three persons. Two of them later died at Bichi General Hospital. “The remaining one is still receiving medical attention at the hospital,” the command’s spokesman said. He said the state Commissioner of Police, Habu Ahmad-Sani, had ordered deployment of personnel from the “Operation Puff-adder” team, to investigate and arrest the perpetrators of the dastardly act. The spokesman said security had been beefed up in the area to prevent future recurrence. (NAN) https://www.premiumtimesng.com/news/top-news/380070-gunmen-kill-two-persons-in-kano-police.html |
Politics / Kaduna Killings: El-Rufai Apologises For Government's Failure To Protect Victims by not4sure(m): 7:13pm On Mar 02, 2020 |
Governor Nasir El-Rufai has apologised to the people of Kaduna State over the recent attacks in three local government areas of the state in which scores of people were killed. https://www.premiumtimesng.com/news/headlines/379938-kaduna-killings-el-rufai-apologises-for-govts-failure-to-protect-victims.html 7 Likes 1 Share
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Politics / Heckler Shouts Down Governor In Public Over Failure To Complete Hospital. by not4sure(m): 6:52pm On Mar 02, 2020 |
A heckler on Saturday at a public event shouted down Governor Muhammadu Badaru of Jigawa State over the failure of his government to complete hospital and road projects in Birnin Kudu Local Government Area of the state. The governor was in the area to launch the educational assistance scheme of a lawmaker, Magaji Aliyu, for 5000 students. From the podium, Mr Badaru was listing federal government projects in Jigawa when he was interrupted by the heckler. The voice of the unidentified man rang out clear from the crowd, saying: “The road project you promised and the Birnin Kudu hospital project are yet to be executed.” The angry man was obviously referring to the dilapidated road in his community and the controversial Birnin Kudu hospital project that has remained under construction for about a decade. A flustered Mr Badaru swiftly responded: ” Have I ever made a promise that I didn’t fulfil? I will fulfil all my promises.” Governor blames contractor The governor went on to blame the contractor handling the hospital project, calling the unnamed contractor lazy. “Even though, the contract was awarded by the preceding administration, I continued with the project. The project is sluggish because of the laziness of the contractor handling the project,” Mr Badaru explained. “I have paid all the money needed to complete the hospital project. The contractor’s certificate never stayed longer than two weeks at my treasury. “At a point, I decided to revoke the contract but the processes will be longer than the time needed to complete it. I assure you that the project will be commissioned this year,” Mr Badaru said. https://www.premiumtimesng.com/regional/nwest/379930-heckler-shouts-down-governor-in-public-over-failure-to-complete-hospital-road-projects.html
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Technology Market / Re: SHOP & SHIP ON AMAZON, EBAY, USA AND UK SITES by not4sure(m): 12:02pm On Jan 30, 2020 |
I want to get this order from aliexpress. How much will it cost me. See link below https://www.aliexpress.com/item/4000086491562.html?spm=a2g0o.productlist.0.0.77d25faaQkWEsJ&algo_pvid=51fb2bf8-35cb-41e0-9944-7bb2b5d005d4&algo_expid=51fb2bf8-35cb-41e0-9944-7bb2b5d005d4-5&btsid=8de673ff-a49e-4329-b415-626a0a94b36f&ws_ab_test=searchweb0_0,searchweb201602_7,searchweb201603_53 |
TV/Movies / Re: Old Yoruba Movies by not4sure(m): 11:31pm On Jan 25, 2020 |
TV/Movies / Re: Old Yoruba Movies by not4sure(m): 11:28pm On Jan 25, 2020 |
TV/Movies / Re: Old Yoruba Movies by not4sure(m): 11:25pm On Jan 25, 2020 |
Youtube. Channels like yorubahood, Yoruba swagger, Tunde Kelani e.t.c See Ale ariwo https://www.youtube.com/watch?v=RZgdhtxejcE |
Politics / Re: BREAKING: Supreme Court sacks Ihedioha,orders that Hope Uzodinma be sworn in by not4sure(m): 6:30pm On Jan 14, 2020 |
Abfinest007:una don start 1 Like |
Nairaland / General / Re: Happy New Year, Nairalanders by not4sure(m): 12:02am On Jan 01, 2020 |
Happy new year good people 4 Likes |
Romance / Re: Joro Olumofin: 17 Things To Watch Out For This DETTY December by not4sure(m): 11:52am On Dec 27, 2019 |
Say042: 13. Fellas, if she says I’m on the last day of my period let’s do it raw. Run fast for your life. #Trap |
Politics / Re: Presidential Election: What The PDP And Atiku/obi Presented To The Supreme Cour by not4sure(m): 7:01pm On Oct 02, 2019 |
No server case |
Politics / Re: N90bn FIRS Election Fund: Vanguard Apologises To FIRS Executive Chairman by not4sure(m): 7:35am On Oct 01, 2019 |
Truthbites:If he collected directly or indirectly, the paper said they can’t prove it. 4 Likes 1 Share |
Technology Market / Re: 19 Inches Dell Monitor For Sale by not4sure(m): 7:17pm On Aug 31, 2019 |
SA |
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