FOOTIE to hit 70000 tomorrow
Missed all the buzz around the announcement today and saw the biggest daily change in portfolio since joining in May. I had to double check to make sure it was real! Great times ahead. I would bet a Advincula or two that we hit the lucky 70k Mark by end of play tomorrow. 🚀
Another glitch in the system where it’s currently showing 74,700 but with a rise of just 2k in the 24 hr period.
Iirc it was at around 68k yesterday which would be closer to a 6k rise in the 24 hrs
They have fixed it now
What does the FOOTIE number represent?
It's the total sum of the prices of the top 200 players - A bit like the FTSE index.
"Footie" Index is the index number that represents the 'market cap' of all 200 footballers in 1st Team List at a point of time - being the sum of the current price of each footballer. Much like the FTSE 100 which was launched on 3 January 1984 and had a start value of 1,000.0, the "Footie" Index launched in October 2015 with a base value of 1,000 points."
The footie works like any market indices does.
To calculate the value of a value-weighted index, sum the market capitalization for each company (player) and divide it by a divisor which is set initially to make the index a round number.
To work it out yourself, you would need to know the total number of shares for each player in issue to work out the market caps and the index divisor, which isn't public.
To work it out yourself you would do the following calculation:
Index value = Σ(market cap of Top 200)/index divisor
Index divisor. This arbitrary number, defined when an index is first established, allows us to divide the index to produce an initial value that’s easier to wrap your head around, such as 100.0.
In short we can never really work it out ourselves because we don't have all the information we need.
We are suppose to use the "Footie" just like we would any other indices and view is as a representative of the current value of the market to help investors track changes in market values over long periods of time. Just like with the FTSE 100, Dow Jones, S&P, Nikkei ect.
@Misto - could you be more specific :)
You got that @Russlad ?
Because I'll be testing you on it in the 'morrow.
Arrrgh Misto (and others), can you please stop repeating that the Footie is a measure of the money invested in the Top 200. It’s not.
It’s a measure of the money invested in all players on the Index (Top 200 and Squad players). FI have confirmed this to me.
I appreciate that the FI FAQ section says Top 200, but that is outdated information that relates to pre Autumn 2017, when only the Top 200 players where tradable. The FAQs just need updating.
The Footie has increased nearly 10 fold since then, but the top players have only increased in value by circa 4 fold. The expansion of FI to include the squad players and the mass IPOs in 2017/18 has accounted for the difference in growth.
I love you all
When it reaches 74 994 it will be the total number of people watching Manchester United at old Trafford when they have a full capacity.. can you confirm this @DANFI