CPF BAP Fund - Series A

JimmyHo

In order to allow CPF members to participate in active BAPs, I propose that we establish the first in a series of CPF BAP funds. The idea is that all forum members will be able to participate in BAPs without having to worry about missing out because they haven't checked the site in time to participate. I recommend that Hobbes to be in charge of the BAP fund and make the appropriate BAP investment decisions since he seems to be the most knowledgeable and experienced in this area (hopefully he is game). Here is what I propose:

- all CPF members will be able to buy units in the Series A fund up to May 31st, at which time the Series A fund will become active (and closed to new participation). Each unit will be purchased at a price of $50/unit.

- the CPF BAP fund ("the Fund") will have the first right of refusal on all new BAPs proposed by CPF forum members. The fund will be capped at a participation amount of 20% for each active BAP.

- the Fund will be restricted to investing up to 10% in any single BAP based on the current value of the Fund.

- the Fund will make semi-annual distributions to unit holders based on the return of BAP received over the previous quarter (only returns above the initial investments, no principal). After a certain length of time (I propose two years), the fund will be wound-up, and all remaining funds will be distributed to unitholders.

- units cannot be sold or transferred between forum members once purchased (this would be a logistical nightmare).

- new fund series (B,C, etc.) can be issued depending on how Series A goes.

Anyone game? Any other things to consider? We would need to develop a spreadsheet to track the movement in the fund and the semi-annual ROI.

westside8

Wolffhound

I have no use for the above. If I miss out on something that's my loss.

As previously stated in other threads, the BAP section has renewed my interest in Poker and this forum.

I don't see how the above would be an improvement on what we have.

If I'm going to post a BAP and sell some % of myself, who is the "fund" to lay claim to or suggest that they have the first rights to my BAP. (others can say, who the fuck cares who buys your %, valid, but, I do this shit for fun, the above doesn't sound fun.)

Shtebs

I find the concept intriguing (I am a financial advisor) but I suspect the forum might be quite reluctant. I do have a few questions:
-How do we decide who qualifies for the BAP staking?
-You mentioned that Hobbes could oversee the fund but how do we decide who to back? Clearly some members have had some decent success being staked in the past but as past results are no guarantee of future performance.
-Do we do a vote whenever someone requests staking?
-What would be a fair percentage of the vote to carry through someone's request?
-Where do we hold the fund? In someone's bank account or online account? There are obviously many concerns to be considered there.
I have a few more but those are the primary ones for now. If there is no interest the questions are a moot point anyways.

GTA Poker

nada

Milo

Nope. I agree with Wolfie (tell me to fuck off now . . .) on this one. I'll BAP who I want, when the mood strikes, and my digits swift. If I miss out, or back out, that is on me. I will agree that the concept is interesting, but it is not interesting enough for me to participate.

blackmagicz

Too many "what ifs" . What we have going seems good enough for those who take part. If you miss an opportunity there are plenty more on the way.

Hobbes

blackmagicz;310493 wroteToo many "what ifs" . What we have going seems good enough for those who take part. If you miss an opportunity there are plenty more on the way.

Pretty much this. I've had a friend run a similar venture on another site and it's way more trouble than it's worth.

I've missed a couple on here, but c'est la vie.

My primary goal staking here is cheering on friends as they play. The $ is a nice side effect.

jontm

He obv put some thought into this, kudos to that.
It's just too organized and serious while I more prefer the degen aspect.

eeetee2011

jontm;310497 wroteHe obv put some thought into this, kudos to that.
It's just too organized and serious while I more prefer the degen aspect.

Have to agree with this i just like getting a couple of points for a sweat.

philliivey

I have seen this before, while I have seen a few of these go with no problems there was 1 that got ugly.

TheMill

Like the idea but do something fun with the profits, say fund royal cup?

[deleted]

TheMill;310582 wroteLike the idea but do something fun with the profits, say fund royal cup?

not everyone plays in the royal.

RAM_Eh

Wolffhound;310482 wroteI have no use for the above. If I miss out on something that's my loss.

As previously stated in other threads, the BAP section has renewed my interest in Poker and this forum.

I agree, I was away from this forum for awhile...and this brought me back. I don't need to BAP for my games as I can afford it, but putting out a BAP for my games is a way to involve others in the forum and hopefully let them win some money.

It just sounds to technical, good thought though.

JimmyHo

jontm;310497 wroteHe obv put some thought into this, kudos to that.

five minutes of my time, thought it might be fun, granted it would be a bit of work for the administrators. Thought it might be a good way for people to have a fair shot at all BAPs as they become available.

/THREAD CLOSED

Hobbes

hmmm Maybe I should offer a few here, BAP Ninja Training.

I think 3hrs to start at $75/hr.

TheMill

costanza;310583 wrotenot everyone plays in the royal.

Good reason to start.:)

Milo

costanza;310583 wrotenot everyone plays in the royal.

No need to apologize . . . ;)

GTA Poker

If you want to have to Royal in Cali, I'm in

compuease

GTA Poker;310676 wroteIf you want to have to Royal in Cali, I'm in

Provide the venue?

Road trip!!