-->
ROOM ZKE
USAComment.com
Zicutake USA Comment | Search Articles



#History (Education) #Satellite report #Arkansas #Tech #Poker #Language and Life #Critics Cinema #Scientific #Hollywood #Future #Conspiracy #Curiosity #Washington
 Smiley face
PROXY LIST

[Calculate SHA256 hash]
 Smiley face
Zicutake BROWSER
 Smiley face Encryption Text and HTML
Aspect Ratio Calculator
[HTML color codes]
 Smiley face Conversion to JavaScript
[download YouTube videos in MP4, FLV, 3GP, and many more formats]

 Smiley face Mining Satoshi | Payment speed
CALCULATOR DIMENSIONS AND RECTANGLE

 Smiley face
CREATE ADDRESS BITCOIN
Online BitTorrent Magnet Link Generator
[PERCENTAGE CALCULATOR]
JOURNAL WORLD:

SEARCH +8 MILLIONS OF LINKS ZICUTAKE STATE

CVV DUMPS TR1 TR2 ICQ 1671716


Worldwide CVVs Shop|Verified Seller|Good Buyer|

(NOTE): We use only one Email to support.Please be careful of this.Because there are so many people fake us to commit fraud.

*** Number ICQ:
1671716 *** Email: [email]big24hours@gmail.com[/email] *** [url=http://atmsilver.blogspot.com/]Worldwide | CreditCard | DebitCard | Dumps Pin | Track1 | Track2 | Validity (95%)[/url]

Worldwide carding account & database dumps track1+track2 validity 95% rate

=====> Sell(Credit/Debit)Card + CVV2 Fresh Good For Shopping <=====
***** RANDOM-BIN-FULLZINFO-DOB+SSN-NON+PASS VBV *****
+ US
+ UK
+ CA
+ Au
+ EU ( Ireland,Inter,Ger,FR,ITA,Spain,Netherlands,Switzerland.more...)
+ Inter
+ Brazil
+ India
+ japan
+ Turkey
+ Asia ( Philippines,Malaysia,Hong Kong,Indonesia,Thailand,Singapor..more)
+ ...and orther country...( contact me to know more )..

********************************************************
CCV USA:
********
USA (visa/master) = $8
USA (amex/disco) = $10
USA (bin/dob) = $15
USA (fullz info) = $30

CCV UK:
********
UK (visa/master) = $15
UK (bin/dob) = $30
UK (amex/disco) = $30
UK (fullz info) = $40

CCV CA:
********
CA (random) = $15
CA (bin/dob) = $30
CA (fullz info) = $40

CCV AUS:
********
AUS (random) = $20
AUS (bin/dob) = $30
AUS (fullz info) = $45

CCV EU:
********
France = $25 ___ (fullz info = $50)
Germany = $25 ___ (fullz info = $50)
Italy = $25 ___ (fullz info = $50)
Sweden = $25 ___ (fullz info = $50)
Spain = $25 ___ (fullz info = $50)
Denmark = $25 ___ (fullz info = $50)
Ireland = $25 ___ (fullz info = $50)
Mexico = $25 ___ (fullz info = $50)
Asia = $25 ___ (fullz info = $50)

***Replace only 3hrs***
* We are looking for a good customers to buy cc + cvv and do business long-term,
cause we have a huge cc + cvv in store everyday to sell.
* The price maybe up and down a little bit based on the fluctuating market,
but we always keep it affordable to balance customer’s benefit and ours.

****************************************************************

About Dumps + Pin :

We Offer High Quality Fresh Skimmers Dumps For Sale Both Track 1 | Track 2 with Pin.
My products include but not limited to VISA,MC,AMEX.All dumps are first hand we do not resale dumps.
Providing the highest approval rates good quality of Dumps from USA, UK, CA, AU, EU, ASIA, CHINA, JAPAN, KOREA .....
About 2 years ago, we started working with a new direction: Skimmers. As you know the most effective way to make money in carding used Dumps + Pin at an ATM to get cash immediately.
Limits in ATM are much more higher than in usual dumps using (as usual it even doesn't have any limitations, so you can get all money which are available on balance)

Why sell dumps with pin?

We independently cash all dumps with balance of more than 10,000 euro, all other card we sell, to avoid the risk of being caught.
Cause my professional Skimmers and POS terminal provide a lot so I sell them.

Conditions?

We do not negotiate or send test and do not waste our time if you do not have any money.
We are legit and honest dumps seller for all my prices are final.
We check the balance on the Dumps over 3.000 to 10.000 (USD/EURO).
We will replace for all the Dumps bad or invalid for free. Replae only 24 hours (not more 24 hours)
We don't play games when I do business and if you try an do unfair business we'll stop at once.
If you dont know what exactly this kind of products are or how to use them,we advice you to forget about this business, its not for kids or amateur hackers.

NOTE :
Dumps with Pin, we only sell a minimum order 3 pcs
Dumps without Pin, we only sell a minimum order 5 pcs
Buy 5 pcs Dumps with Pin get 1 Free
Buy 10 pcs Dumps without Pin get 2 Free

PRIVATE BASE DUMPS WITHOUT PIN 101/201

USA:
Classic/Standart: $40/1
Gold/Platinum: $45/1
Business/Signature/Purchase/Cooprate/Word: $50/1

UK:
Classic/Standart: $50/1
Gold/Platinum: $55/1
Business/Signature/Purchase/Cooprate/Word: $60/1

CANADA:
Classic/Standart: $60/1
Gold/Platinum: $65/1
Business/Signature/Purchase/Cooprate/Word: $70/1

AUSTRALIAS+EURO+ASIAN+INTER:
Classic/Standart: $70/1
Gold/Platinum: $75/1
Business/Signature/Purchase/Cooprate/Word: $80/1

DUNPS PIN + TRACK 1/2 LIST PRICE

Dumps Pin,Track 1/2 (USA) = $70

DumpS Pin,Track 1/2 (UK) = $80

Dumps Pin,Track 1/2 (CA/AUS) = $80

Dumps Pin,Track 1/2 (ASIA) = $90

Dumps Pin,Track 1/2 (EURO/INTER) = $100

************************************************************
VERY STATE: AR,CA,DC,FL,IL,IN,KS,LA,MA,MD,MI,MN,NC,NJ,NY,PA,TX,VA,WA

California - 101/201 code
Downey/Escondido/El Dorado Hills/Laguna Niguel/Redwood City /Vallejo/Ventura
Maryland - 101/201 code
Annapolis/Hyattsville/Potomac/Silver Spring
Virginia - 101/201 code
Alerxandria/Woodbridge
Pennsylvania/Philadelphia - 101/201 code
Washington//Seattle/Redmond - 101/201 code
Arizona/Phoenix - 101/201 code
California/LA - 101/201 code
California/SF - 101/201 code
Florida/West Palm Beach - 101/201 code
Illinois/Chicago/Oak Lawn - 101/201 code
Indiana/Dyer - 101/201 code
North Carolina/Hickory - 101/201 code
New Jersey/Brigantine/South Amboy/Trenton - 101/201 code
New York/New York - 101/201 code
South Carolina/Spartanburg - 101/201 code
Texas/Houston - 101 code - 201 code
Utah/Pleasant Grove - 101/201 code

SAMPLE DUMPS WITHOUT PIN:
*************************
DUMPS BASE USA|APPROVAL 95%|TRACK 1|TRACK 2|CODE|STATE|CITYE|ZIP CODE
==================================
Track1: B4867967004268433^SHELTON/NICHOLAS S^180820100
Track2: 4867967004268433=18082010000067100000
Country Code: US
State: OR
City: Eugene
ZIP: 97403
Type: VISA
Debit/Credit: DEBIT
Subtype: PLATINUM
==================================
Track1: %B4430473039706685^LIZER/DEJA^1707101180891
Track2: 4430473039706685=1707101180891850
Country Code: US
State: SC
City: Spartanburg
ZIP: 29306
Type: VISA
Debit/Credit: DEBIT
Subtype: CLASSIC
==================================
Track1: %B5312580070546414^MOORE/KAITLYN NOELLE^1908201000000000842500425000000
Track2: 5312580070546414=19082010000000008425
Country Code: US
State: SC
City: Hartsville
ZIP: 29550
Type: MASTERCARD
Debit/Credit: DEBIT
Subtype: STANDARD
==================================
Track1: %B4400669708832258^BARNES/THOMAS ^1609201000000000000901371001000
Track2: 4400669708832258=16092019010037100100
Country Code: US
State: IA
City: Marion
ZIP: 52302
Type: VISA
Debit/Credit: CREDIT
Subtype: SIGNATURE

====>> YESCARDS PLATINUM PIN <<======

ATM CARDS PLASTIC ....YESCARDS....... ATM
vente yescards nouvelle génération ;
fonctionne dans 99% des DAB (NCR etc...).

========$$$========
1 yescard  :100€
5 yescards : 350€
10 yescards : 750€
========$$$========

PRIX POUR YESCARDS
******************************
Gold Visa - 150€  ----> plafond 10000€
Gold Mastercard - 200€  ----> plafond 20000€

Platinium Visa - 150€ ----> plafond 10000€
Platinium Mastercard - 200€ ----> plafond 20000€

Platinium Visa - 200€ ----> 20000€
Platinium Mastercard - 250€ ---> 25000€

Infinity Visa - 200€ ----> plafond 15000€
Infinity Mastercard - 350€ ----> plafond 30000€

Carding et Achat sur internet Livraison Express
avec DHL ou UPS ou par la POSTE et meme FEDEX

ICQ:
1671716 /// e-mail: [email]big24hours@gmail.com[/email] /// ATM™Worldwide
SELL CVV GOOD FRESH ALL COUNTRY- DUMPS TRACKS 1,2 -INFO(SSN+DOB)
BIG CARD FULLZINFO ATM PIN - DUMPS 101 DUMPS 201 - VENDOR BIG USA

++++++++++++++++++++++++++++++++++++++++++++++++++

- If u want test please buy 5 and then if the cvv is good u can buy more from me
- If u buy over 20, I will sell for u good price
- Cvv will be sent to you after receiving payment. Orders will be sent via e-mail or when you want.
- I have a replacement policy for bad Cvv. All my cvv are inspected before sale
- I accept PM (Perfect money), WU (western union), MG (MoneyGram), WMZ (Webmoney), Bitcoin
- I sure you will happy if business with me
- If you don't buy from me please don't spam me.
- I very hate do spam or ripper and i don't want who spam me.
- Hope you are better customer and we can to work for long time
- Thanks for read

++++++++++++++++++++++++++++++++++++++++++++++++++

How to buy and about deal ?

- We will inspect all the cards your order and send it to you in 15 mins via email after we receive payment
- We offer just mixed and bulk offers for all new customers
- We will replaced free of change if card not good or dont working
- Please no test free, let buy for test
- We are serious business, looking for a long-term relationship
===============================================
Replace:

+ All new customers is 24 hours
+ Next time only 12 hours replae
+ All the stuff will sent to email
+ No ask me / Test / Sample / Proof
===============================================
Methods Payment:

+ western union(wu)
+ money gram (mg)
+ perfectmoney(pm)
+ webmoney (wmz)
+ bitcoin (btc)
======>>>
<<<<<< Min payment WU / MG is over 200$ >>>>>>>
================================================
Contact more information here:

* ICQ:
1671716 /// Email: [email]big24hours@gmail.com[/email] *
* [url=http://atmsilver.blogspot.com/]Worldwide | CreditCard | DebitCard | Dumps Pin | Track1 | Track2 | Validity (95%)[/url] ATM™WORLDWID *

Welcome to business : The Best Market for Dumps and CC
We offer the best and highest level of Dumps and CC.

* Strong BINS : Capable of High Value Swipes/Orders
* Best Quality : Allowing you to shop and cashout longer without risk of declines
* Lowest Prices : Get more cards for your cash

ICQ:
1671716 /// e-mail: [email]big24hours@gmail.com[/email] /// ATM™Worldwide
SELL CVV GOOD FRESH ALL COUNTRY- DUMPS TRACKS 1,2 -INFO(SSN+DOB)
BIG CARD FULLZINFO ATM PIN - DUMPS 101 DUMPS 201 - VENDOR BIG USA

*************************************************
*ICQ
1671716
*Address email: [email]big24hours@gmail.com[/email]
*[url=http://atmsilver.blogspot.com/]Worldwide | CreditCard | DebitCard | Dumps Pin | Track1 | Track2 | Validity (95%)[/url] ATM™WORLDWID *

January 2017 Data Update 7: Profitability, Excess Returns and Governance

If asked to describe a successful business, most people will tell you that it is one that makes money and that is not an unreasonable starting point, but it is not a good ending point. For a business to be a success, it is not just enough that it makes money but that it makes enough money to compensate the owners for the capital that they have invested in it, the risk that they are exposed to and the time that they have to wait to get their money back. That, in a nutshell, is how we define investment success in corporate finance and in this post, I would like to use that perspective to measure whether publicly traded companies are successful.

Measuring Investment Returns
The first step towards measuring investment success is measuring the return that companies make on their investments. This step, though seemingly simple, is fraught with difficulties. First, corporate measures of profits are not only historical (as opposed to future expectations) but are also skewed by accounting discretion and practice and year-to-year volatility. Second, to measure the capital that a company has invested in its existing investments, you often have begin with what is shown as capital invested in a balance sheet, implicitly assuming that book value is a good proxy for capital invested. Notwithstanding these concerns, analysts often compute a return on invested capital (ROIC) as a measure of investment return earned by a company:

This simple computation has become corporate finance’s most widely computed and used ratio and while I compute it and use it in a variety of contexts, I do so with the recognition that it comes with flaws, some of which can be fatal. In the context of reporting this statistic at the start of last year, I reported my ROIC caveats in a picture:

Put simply, it would be unfair of me to tar a young company like Tesla as a failure because it has a negative return on invested capital, and dangerous for me to view HP as a company that has made good investments, because it has a high ROIC, since is only due to the fact that it has written off almost $16 billion of mistakes, reducing its invested capital and inflating its ROIC. I compute the return on invested capital at the start of 2017 for each company in my public company sample of 42,668 firms, using the following judgments in my estimation:

I do make adjustments to operating income and invested capital that reflect my view that accounting miscategorizes R&D and operating leases. I am still using a bludgeon rather than a scalpel here and  the returns on invested capital for some companies will be off, either because the last year’s operating income was abnormally high or low and/or accountants have managed to turn the invested capital at this company into a number that has little to do with what is invested in projects. That said, I have the law of large numbers as my ally.

Measuring Excess Returns

If the measure of investment success is that you are earning more on your capital invested than you could have made elsewhere, in an investment of equivalent risk, you can see why the cost of capital becomes the other half of the excess return equation. The cost of capital is measure of what investors can generate in the market on investments of equivalent risk. Thus, a company that can consistently generate returns on its invested capital that exceed its cost of capital is creating value, one that generates returns equal to the cost of capital is running in place and one that generates returns that are less than the cost of capital, it is destroying value. Of course, this comparison can be done entirely on an equity basis, using the cost of equity as the required rate and the return on equity as a measure of return:

In general, especially when comparing large numbers of stocks across many sectors, the capital comparison is a more reliable one than the equity comparison. My end results for the capital comparison are summarized in the picture below, where I break my global companies into three broad groups. The first, value creators, includes companies that earn a return on invested capital that is at least 2% greater than the cost of capital, the second, value zeros, includes companies that earn within 2% (within my estimation error) of their cost of capital in either direction and the third, value destroyers, that earn a return on invested capital that is 2% lower than the cost of capital or worse. 

The public market place globally, at least at the start of 2017, has more value destroyers than value creators, at least based upon 2016 trailing returns on capital. The good news is that there are almost 6000 companies that are super value creators, earning returns on capital that earn 10% higher than the cost of capital or more. The bad news is that the value destroying group has almost 20,000 firms (about 63% of all firms) in it and a large subset of these companies are stuck in their value destructive ways, not only continuing to stay invested in bad businesses, but investing more capital.

If you are wary because the returns computed used the most recent 12 months of data, you are right be. To counter that, I also computed a ten-year average ROIC (for those companies with ten years of historical data or more) and that number compared to the cost of capital. As you would expect with the selection bias, the results are much more favorable, with almost 77% of firms earning more than their cost of capital, but even over this much longer time period, 23% of the firms earned less than the cost of capital. Finally, if you are doing this for an individual company, you can use much more finesse in your computation and use this spreadsheet to make your own adjustments to the number.

Regional and Sector Differences
If you accept my numbers, a third of all companies are destroying value, a third are running in place and a third are creating value, but are there differences across countries? I answer that question by computing the excess returns, by country, in the picture below:
Link to live map

Just a note on caution on reading the numbers. Some of the countries in my sample, like Mali and Kazakhstan have very few companies listed and the numbers should taken with a grain of salt. Breaking out the excess returns by broad regional groupings, here is what I get:
Spreadsheet with country data
Finally, I took a look at excess returns by sector, both globally and for different regions of the world, comparing returns on capital on an aggregated basis to the cost of capital. Focusing on non-financial service sectors, the sectors that delivered the most negative and most positive excess returns (ROIC - Cost of Capital) are listed below:
Spreadsheet with sector data
Many of the sectors that delivered the worst returns in 2016 were in the natural resource sectors, and depressed commodity prices can be fingered as the culprit. Among the best performing sectors are many with low capital intensity and service businesses, though tobacco tops the list with the highest return spread, partly because the large buybacks/dividends in the sector have shrunk the capital invested in the sector.

For investors, looking at this listing of good and bad businesses in 2017, I would offer a warning about extrapolating to investing choices. The correlation between business quality and investment returns is tenuous, at best, and here is why. To the extent that the market is pricing in investment quality into stock prices, there is a very real possibility that the companies in the worst businesses may offer the best investment opportunities, if markets have over reacted to investment performance, and the companies in the best businesses may be the ones to avoid, if the market has pushed up prices too much. There is, however, a corporate governance lesson worth heeding. Notwithstanding claims to the contrary, there are many companies where managers left to their own devices, will find ways to spend investor money badly and need to be held to account.

What next?

I am not surprised, as some might be, by the numbers above. In many companies, break even is defined as making money and profitable projects are considered to be pulling their weight, even if those profits don’t measure up to alternative investments. A large number of companies, if put on the spot, will not even able to tell you how much capital they have invested in existing assets, either because the investments occurred way in the past or because of the way they are accounted for. It is not only investors who bear the cost of these poor investments but the economy overall, since more capital invested in bad businesses means less capital available for new and perhaps much better businesses, something to think about the next time you read a rant against stock buybacks or dividends.

YouTube Video


Spreadsheet
  1. ROIC Calculator
Datasets
  1. Excess Returns, by Country- January 2017
  2. Excess Returns, by Industry - January 2017

Que ataque seria desastroso a um hotel? Veja abaixo.

Que ataque a um hotel seria tão desastroso que o faria pagar rapidamente o resgate de um ransomware? Aqui vem a resposta:

https://cdn.ampproject.org/c/www.thelocal.at/20170128/hotel-ransomed-by-hackers-as-guests-locked-in-rooms/amp

Um dos principais hotéis da Europa - Romantik Seehotel Jaegerwirt da Autria - reconheceu que sofreu um ataque de ransomware e pagou o resgate. Os hackers conseguiram invadir o sistema de controle eletrônico das chaves dos quartos e bloquearam todos eles, impedindo que os hóspedes pudessem entrar nos quartos.

BOLO DE CHOCOLATE FOFINHO E MOLHADINHO


INGREDIENTES:

02 XÍCARAS DE FARINHA DE TRIGO 
02 XÍCARAS DE AÇÚCAR
01 XÍCARA DE LEITE
02 COLHERES DE (SOPA) MANTEIGA OU MARGARINA
06 COLHERES DE (SOPA) DE CHOCOLATE EM PÓ
01 COLHER DE (SOPA) DE FERMENTO BIOLÓGICO EM PÓ
06 OVOS INTEIROS

PREPARO:

EM UMA BATEDEIRA, OU NA MÃO MESMO, BATA AS CLARAS EM NEVE, E VA ACRESCENTANDO AS GEMAS E BATENDO, O AÇUCAR,  E BATA MUITO BEM.
EM SEGUIDA ADICIONE A FARINHA DE TRIGO, O CHOCOLATE EM PÓ, E O FERMENTO, O LEITE, E BATA POR MAIS ALGUNS MINUTOS, ATÉ A MASSA FICAR BEM HOMOGÊNEA.   EM SEGUIDA DESPEJE A MASSA EM UMA FORMA, QUADRADA OU REDONDA DE SUA PREFERÊNCIA UNTADA COM MARGARINA, E LEVEMENTE POLVILHADA COM FARINHA DE TRIGO, E LEVE PARA ASSAR EM FORNO JÁ PRÉ AQUECIDO A 180º, POR MAIS OU MENOS 40 MINUTOS.

RECHEIO E COBERTURA:

O RECHEIO, NORMALMENTE VOCÊ PODE FAZER DE SUA PREFERÊNCIA, COM CREMES OU DOCES QUE VOCÊ NORMALMENTE GOSTE.

OBSERVAÇÃO: EU QUANDO FAÇO ESSA RECEITA, COSTUMO FAZER APENAS 1/2 RECEITA, UMA RECEITA COMPLETA É INDICADA QUANDO A FAMÍLIA É GRANDE.

CVV DUMPS TRACK 1 TRACK 2 FRESH ATM PIN VALID 95%

BEST CARD FORUM,CARDER SHOPPING,CVV FRESH GOOD,DUMPS WITHOUT PIN,DUMPS WITH PIN,FRESH SKIMMED ATM PIN
BIG VENDOR CC + CVV,DUMPS WITH PIN,ORIGINAL T1+T2,WORLDWIDE FULLZINFO ATM PIN,FRESH SKIMMED 101/201
CREDIT CARD,DEBIT CARD,DUMPS.(T1+T2) WITH PIN,ATM SKIMMED 101+201,WORLDWIDE CC+CVV,FULLZINFO(DOB/SSN)

WorldWide CC & Dumps (T1+T2) | ATM Fullzinfo Pin | Bank Logins (Valid 95%) Verified Seller | Good Buyer

(NOTE):We use only one Email to support.Please be careful of this.Because there are so many people fake us to commit fraud.

http://atmsilver.blogspot.com/
EMAIL ADDRESS: big24hours@gmail.com
ICQ : 1671716

*Sell CC + CVV2 + Credit Card + Debit Card + Card DOB + Card Bin + Card Random + Card Fullzinfo + Card Non VBV+Pass VBV
*Worldwide Dumps + Dumps Valid + Dumps With Pin + Track 1 | Track 2 + Fresh Skimmed + ATM Pin + Original Track 2
*Spaming Tools + RDP + SMTP + Webmail + Mailer Inbox + Mail Pass + Worldwide Leads + Scams Page + Shell + Cpanels
*Transfer Western Union + Transfer Bank + Logins USA + United Kingdom + Canada + AUS + Euro + Asia + Transfer Paypal
*Electronics + Shipping + Hacking Mail Pass + Facebook + Laptop + Iphone 6 + Iphone 6S + Iphone7 + Ipad + Macbook Pro  
*Old Account + Ebay + Macth + Newegg + Warmarl + DHL + UPS + Apple + Alibaba + AliExpress + Fedex + Skype + Facebook                                                           

********* SELL CC+CVV2 GOOD FOR SHOPPING *******

USA CC:
********
USA (Visa/Master) = $10
USA (Amex/Disco) = $15
USA (Bin/Dob) = $20
USA (Fullzinfo) = $35

UK CC:
********
UK (Visa/Master) = $20
UK (Amex/Disco)= $30
UK (Bin/Dob) = $40
UK (Fullzinfo) = $50

CA CC:
********
CA (Visa/Master) = $15
CA (Amex/Disco) = $25
CA (Bin/Dob) = $30
CA (Fullzinfo) = $40

AUS CC:
********
AUS (Visa/Master) = $25
AUS (Amex/Disco) = $35
AUS (Bin/Dob) = $40
AUS (Fullzinfo) = $50

EUROPE CC:
********
France = $30 ___ (fullz info = $50)
Germany = $30 ___ (fullz info = $50)
Italy = $30 ___ (fullz info = $50)
Sweden = $30 ___ (fullz info = $50)
Spain = $30 ___ (fullz info = $50)
Denmark = $30 ___ (fullz info = $50)
Ireland = $30 ___ (fullz info = $50)
Mexico = $30 ___ (fullz info = $50)
Asia = $30 ___ (fullz info = $50)

Format is:
Card Number | Exp. Date | CVV/CVV2 | First Name | Last Name | Street | City 
| State | Zip Code | Country | Phone | Type Of Card | Bank Name

*** All our cc are checked before sending.
*** We guarantee that our cc are good with good balances!
-RULE 1: I never sell the same CC to more than a person.
-RULE 2: I don’t share CC, CVV for test free.
-RULE 3: All my CC, CVV always are fresh and live.
-RULE 4: All my CC, CVVs are checked.

Format Card (Random)
====================

**** DEMO CC USA:
4117733939985949|03/2016|790|Mike|Philippe|3815 AVENUE I 3RD FL|BROOKLYN|NY|11210|USA|347-394-7074|supermike718@gmail.com |

5465280085806540|08/2020|794|Brandi Skillman|1410 30TH AVE NW APT 3301|MINOT|ND|58703|USA|7018182918|B.SKILLMAN08@GMAIL.COM

6011008260905564|03|2020|673|Stacy|Liu|2820 SW 33rd Ct.|Miami|33133|UNITED STATES|9167042216|staacy.liu@gmail.com

373965748412007|07|2016|7922|sandy beechinor|N 36715 sherman|DEER PARK|99006|WA|USA|5092767387|scoitaartworks@aol.com

**** DEMO CC UK:
4921816704367231|04|2017|653|SOHAIL|AHMED|137 Springfield Road|Moseley|BIRMINGHAM|B13 9ND|UNITED KINGDOM|441217778326|sohail4001@yahoo.co.uk

**** DEMO CC CA:
5457499001853366|05|2018|302|Cassandra Tourangeau|1417 Flower Station Road|Lanark|Ontario|K0G1K0|Canada|6138126338|

**** DEMO CC AUS:
5430489100598014|10|2014|815|Sharyn Brew|6 Inglewood Close Croydon|Croydon|Victoria|3136|Australia|0417805265

**** DEMO CC MALAYSIA:
5472310269029105|04/2021|899 Ee Hong Lau No 2314|Chieng Son Garden,|Riam Road MIRI|state 98000|Malaysia

***** DEMO CC SPAIN:
4966267615954012|02/18|683|SALVADOR GALISTEO MUNOZ / SALVADOR GALISTEO MUNOZ|BULEVAR ALTO TAJO 4 4 B|GUADALAJARA|N/A|19005|Spain|

***** DEMO CC FRANCE
4561079000681111|04|20|400|Benjamin|chayette|9 rue benjamin godard |75116|paris |0235240732|FRANCE|

***** DEMO CC ITALY
4565420079693239|11/2017|159|SILVIA CARLETTO|VIA SIGNORI, 2|S. CRISTINA DI QUINTO|TV|31055|0422471003|elpampurio@libero.it

***** DEMO CC DENMARK
4571717006927149|0117|057||Søren Damsgaard|Andersen|Tjørnevej 13|Salten|Them|Midtjylland|Denmark|8653|sda@mail.d k

***** DEMO CC BRAZIL
5256640301990043|02|2018|415|Ivan Carlos|Buzzi|Rua Campo Alegre,454|Ilha da Figueira|Jaragua do Sul|SC|89258-100|ivanca@yahoo.com.br

***** DEMO CC NORWAY
4110021010519390|06|19|719|MORTEN NILSEN|Morten|Nilsen|Steinmoguto 23||Nesbyen|3540|NORWAY|morach@chipmycar.no

***** DEMO CC NETHERLAND
5209530059564397|06|2016|437|P.J.M. Vervoort-van Doorn|Eerschotsestraat 40 Sint-Oedenrode|State|5491|AC|Netherlands

***** DEMO CC CHINA
4063651030374256|10|2018|254|MAGGIE|HUANG||802 BANK ST.|Ottawa|K1S3V8|+1 6135670382|CHINA|

***** DEMO CC ARGENTINA
4546400019311815|02|19|461|Facundo Badillo|Facundo|Badillo|Blanco Encalada 5678|Buenos Aires||1440|Argentina

***** DEMO CC JAPAN
4541147834772011|12/2016|400|TAKASHI KOSUGE Takashi  Kosuge|1-1 Oho||Tsukuba|3050801|Japan

***** DEMO CC PHILIPPINES:
5194630205920498|03|2026|776|LORNA|MIRANDA|APOLLOLAAN 7|AMSTERDAM|1077 AA|+31 684476978|PHILIPPINES|

***** DEMO CC NEW ZEALAND:
4999132341881247|11/2016|052|Michael Hobbs|1116 Leeston Rd,Irwell Village,RD3|Leeston,Arizona,7632 |New Zealand

***** DEMO CC IRELAND:
4319454004186406|04|2020|420|michelle|plunkett|132 forest hills|Rathcoole| 0851268766|IRELAND|shellybellyjelly@hotmail.com|

***** DEMO CC SAUDI ARABIA
4339870060055886|02|2019|755|Seba|A|421 W Broadway, long beach|Los angeles|90802|+1 9492954885|SAUDI ARABIA

***** DEMO CC INDIA:
5546370226887914|02|2017|918|Bhamini|Pattabhiraman||Old 43/2, New 52/2, 11th Avenue,|Chennai|600083|+91 9500032305|INDIA

***** DEMO CC MEXICO:
4179670383241608|03|2018|679|Aida Monica|Valdez||Paseo de los Estudiantes 2035 Col. Cumbres 2o Sector|Monterrey, Nuevo Leon|Nuevo Leon|64640|+52 8110804973|Mexico|

***** DEMO CC BELGIUM:
4454719292556113|10/2017| 880 |Christine Rillaerts | leuvensebaan 51| Ottenburg Antwerpen| 3040 | BELGIUM |

***** DEMO KOREA:
5462521402227917|09|2018|170|KOREA, REPUBLIC OF|SEON YEONG|BAK|397 E 54TH ST KT9465|Elmwood Park|NJ|07407|201-568-3865|SINKLREAR@GMAIL.COM|211.205.6.157|

I'm looking for who can work together
I am very happy to serve you long time, thanks!
No scamer, No spamer

*** REPLACE ONLY 3HOURS ***
* We are looking for a good customers to buy cc + cvv and do business long-term,
cause we have a huge cc + cvv in store everyday to sell.
* The price maybe up and down a little bit based on the fluctuating market,
but we always keep it affordable to balance customer’s benefit and ours.
* You are encouraged to buy small (10 card) small to test first before ,
we do business long-term together. Also we have good price to re-seller
****************************************************************

About Dumps + Pin :

We Offer High Quality Fresh Skimmers Dumps For Sale Track 1+Track 2 With Pin .
My products include but not limited to VISA,MC,AMEX.Providing the highest approval Rates Good Quality Of Dumps From USA,UK,CA,AU,EU,ASIA,CHINA,JAPAN,KOREA
About 2 years ago, we started working with a new direction:
Skimmers. As you know the most effective way to make money in carding used Dumps + Pin at an ATM to get cash immediately.Limits in ATM are much more higher than in usual dumps using (as usual it even doesn't have any limitations, so you can get all money which are available on balance)

Why Sell Dumps With Pin?

We independently cash all dumps with balance of more than 10.000 EURO/USD
All other card we sell to avoid the risk of being caught.
Cause my professional Skimmers and POS terminal provide a lot so I sell them.

Conditions?

We Do Not Negotiate or Send Test and Do Not Waste Our Time
We Are Legit and Honest Dumps Seller Prices Good For All Customers Long Term
We Check Balance on the Dumps Over 3.000 to 10.000 currency ( USD / EURO ).
We Replace All Dumps BAD / INVALID For Free Within 24 Hours (No more 24 Hours)
No Games When I Do Business If You Try an Do Unfair Business We'll Stop At Once
If You Dont Know What Exactly This Kind Of Products Are or How To Use Them
We Advice You To Forget About This Business, Its Not For Kids Or Amateur Hackers

***** NOTE *****

+ Dumps With Pin
[_Minimum is 3 pcs_]
+ Dumps With Pin
Buy 3 pcs  [_+1 Free_]
+ Dumps Without Pin
[_Minimum is 5 pcs_]
+ Dumps Without Pin
Buy 5 pcs [_+1 Free_]

https://justpaste.it/WorldwideCvvDumps
CREDIT CARD DUMPS - DEBIT CARD DUMPS - TRACK1 - TRACK2 - DUMPS WITH PIN + WITHOUT PIN - ORIGINAL T2
****** CANADA - CHINA - JAPAN - EUROPE - KOREA - HONGKONG - ASIA - TURNKEY - INTER
- BIG BASES PACKS 101 - 201 MIXED BIG BASE USA ANY STATE FRESH VALIDITY 85% - 95% ******

+ California - 101/201 code
+ Maryland - 101/201 code
+ Virginia - 101/201 code
+ Pennsylvania - 101/201 code
+ Washington - 101/201 code
+ Arizona/Phoenix - 101/201 code
+ Florida - 101/201 code
+ Illinois - 101/201 code
+ Indiana - 101/201 code
+ North Carolina - 101/201 code
+ New Jersey - 101/201 code
+ New York - 101/201 code
+ South Carolina - 101/201 code
+ Texas - 101/201 code
+ Utah/Pleasant Grove - 101/201 code

Sample Dumps Track 1/2 with & without Batteries
==================================
Track1: B5466388405414686^Mohammed/FARRIED^2004201190100000000000875000000
Track2: 5466388405414686=20042011901087500000
Country Code : US
State : VA
Type : MASTERCARD
Debit/Credit: credit
Subtype : WORLD CARD
==================================
Track1: B4782009999506014^KOSNIEWSKI/PAMELA M^16111010000000208000000
Track2: 4782009999506014=16111010000020800000
(101) - VISA CLASSIC - JPMorgan Chase Bank NA
Track1: B4784559000586171^andrew/mayerbach^150310100000334330000370000
Track2: 4784559000586171=15031010003343300003700
ATM Pin: 2252
====================================
*USA:101
MasterCard Standart, Visa Classic ? $45
Visa Gold|Platinum|Corporate|Signature|Business ? $50
American Express ? $50 ( WITHOUT SID )
Discover ? $50

*CANADA:101 201
MasterCard Standart, Visa Classic ? $55
Visa Gold|Platinum|Corporate|Signature|Business ? $60

*EU:101 201
MasterCard Standart, Visa Classic ? $85
Visa Gold|Platinum|Corporate|Signature|Business ? $90

*ASIA/AUSTRALIA/Exotic:101,201,121 and others
MasterCard Standart, Visa Classic ? $75
Visa Gold|Platinum|Corporate|Signature|Business ? $80

Worldwide | CreditCard | DebitCard | Dumps Pin | Track 1 | Track 2 | Validity (95%)
==================================

Price: MSR 206 605
*****************************
MSR 206 + 2x CRM41 = $930
MSR 206 + 2x CRM42 = $870
MSR 206 + 2x MSR 400 = $900
MSR 206 / MSR 300 = $550
MSR 206 / MSR 3000 = $730
MSR 505 / TA - 48 = $640
MSR 505 / MSR 300* = $500
MSR 505 / MSR 2000 = $550

Price: ATM Plastic Card
******************************
Plastic Card 2500 = 150 (Dollar,Pound,Euro)
Plastic Card 5000 = 250 (Dollar,Pound,Euro)
Plastic Card 7500 = 350 (Dollar,Pound,Euro)
Plastic Card 10000= 450 (Dollar,Pound,Euro)

Price: YESCARDS
PRIX POUR YESCARDS
******************************
Gold Visa - 150€  ----> plafond 10000€
Gold Mastercard - 200€  ----> plafond 20000€

Platinium Visa - 150€ ----> plafond 10000€
Platinium Mastercard - 200€ ----> plafond 20000€

Platinium Visa - 200€ ----> 20000€
Platinium Mastercard - 250€ ---> 25000€

Infinity Visa - 200€ ----> plafond 15000€
Infinity Mastercard - 350€ ----> plafond 30000€

Note :
Shipping with FedEx, DHL, UPS or EMS. How long it will take for me to receive order?
Shipping time is from 1 - 2 days. But it depends on country where you are located.
We ship worldwide to any country. Before you place order, we tell you estimated delivery.

=======================================================
ICQ: 1671716 | e-mail: big24hours@gmail.com | ATM™Worldwide
Dumps/Fullz/Bank/YESCARDS/Plastic TRACK1&2 Visa,MasterCard,Amex,Disco
Worldwide|CreditCard|DebitCard|Dumps Pin|Track 1|Track 2|Validity(95%)

====== DUMPS WITH PIN,TRACK 1 & 2 ==========

-Dumps + Pin,Tracks 1&2 US = $70 per 1
-Dumps + Pin,Tracks 1&2 UK = $80 per 1
-Dumps + Pin,Tracks 1&2 CA = $80 per 1
-Dumps + Pin,Tracks 1&2 AU = $80 per 1
-Dumps + Pin,Tracks 1&2 EU = $90 per 1

Sample Dumps and Track 1 & 2 with pin:
**************************************
Dumps + Pin (USA)
Track1: B4784559000586171^Andrew/Mayerbach^1503101000033433000037000
Track2: 4784559000586171=15031010003343300003700
ATM Pin: 5241
------
Dumps + Pin (Canada)
Track1: B4530920124710013^Bibliotheque^17032206128000000547000000
Track2: 4530920124710013=17032206128000547000
ATM Pin: 3377
------
Dumps + Pin (Australias)
Track1: B4072209014479002^Priya/Selva-Nayagam^1808201000000112000000
Track2: 4072209014479002=18082010000000112000
ATM Pin: 5081
------
Dumps + Pin (China)
Track1: B4067701731557109^Wei-Chun/Chang^19011014045400000988000000
Track2: 4067701731557109=19011014045400988000
ATM Pin: 2405
------
Dumps + Pin (France)
Track1: B4974903419054100^guihard/pascal^18021104400000000091000000
Track2: 4974903419054100=18021104400000091000
ATM Pin: 0004
------
Dumps + Pin (Turkey)
Track1: B4155650149958727^FATIH/GUCER^17101103410400000211000000
Track2: 4155650149958727=17101103410400211000
ATM Pin: 9889
------
Dumps + Pin (Japan)
Track1: B4541148282107007^Mamiko/Kobayashi^25072100000000000221000000
Track2: 4541148282107007=2507210000000221000
ATM Pin: 5447
------
Dumps + Pin (Republic of South Africa)
Track1: B5221182034692226^Western/Cape^15011010000000000549000000
Track2: 5221182034692226=15011010000000549000
ATM Pin: 7463

CardNumber=4303269004813835
HolderName1=KOLNER /LEA B
HolderName2=
CardExp=10/18
Carrier=101
Pin: 3321
Track1=B4303269004813835^KOLNER /LEA B^101110100001388
Track2=4303269004813835=101110100001388
CardNumber=4022320000050409
HolderName1=MAJESKI/CARRIE L
HolderName2=
CardExp=11/21
Carrier=101
Pin:5542
Track1=B4022320000050409^MAJESKI/CARRIE L^11021011000000884000000
Track2=4022320000050409=110210110000884

FRESH DUMPS FROM MY POS
===============================
5514300002763466=16081010000011200000
5514300000139248=15021012524056500000
5514300001921669=16021010000095800000
5514300002249060=15041010000076000000
5514300002055269=16071010000037700000
===============================
4264520046691812=14111010000031200100
4264520041670530=14121010000021600100
4264520037490885=14121010000081000100
5466322199194303=16021010000014300100
5466320200324869=14121010000017800100
===============================
5108050127673510=17101010875024800000
5329050981490186=15081010000005300100
5511640001991052=17071010904985
5205932850447331=160510110000501
5510470000228095=170810110000105
5517336130212999=16061010000000004220

*************** RULES MY BUSINESS ********************

Welcome to business: The Best Market for Dumps and CC
We offer the best and highest level of Dumps and CC.

*Strong BINS : Capable of High Value Swipes/Orders
*Best Quality : Allowing you to shop and cashout longer without risk of declines
*Lowest Prices : Get more cards for your cash

*NO TEST / NO SAMPLE
*SUPPORTS BINLIST / REPLACE 12HRS CVV/DUMPS
*ACCEPT BTC / WMZ / PM / MG / WU

http://atmsilver.blogspot.com/
EMAIL ADDRESS: big24hours@gmail.com
ICQ : 1671716

************ BUSINESS GOOD LONG TERM ********************

January 2017 Data Update 6: A Cost of Capital Update!

I have described the cost of capital as the Swiss Army knife of finance, a number that shows up in so many different places in corporate financial and analysis and valuation and in so many different contexts, that it is easy to mangle and misunderstand. In this post, my objective is simple. I will start with a description of the sequence that I use to get to a cost of capital for companies in January 2017, but the bulk of the post will be describing what the cost of capital looks like at the start of 2017 for companies around the world.

The Cost of Capital: Hurdle Rate, Opportunity Cost and Discount Rate
As I move from corporate finance to valuation to investment philosophies, the one number that seems to show up in almost every aspect of analysis is the cost of capital. In corporate finance, it is the hurdle rate that determines whether companies should make new investments, the optimizer for financing mix and the divining rod for how much to return to stockholders in dividends and buybacks. In valuation, it is the discount rate in discounted cash flow valuations and the determinants of enterprise value multiples (of EBITDA and sales).

It is perhaps because it is used in so many different contexts by such varied sub-groups that it remains a vastly misunderstood and misused number. If you are interested in reading more about the cost of capital, you may want to try this paper that I have on the topic (it is not technical or theoretical).

The Cost of Capital Calculation
The cost of capital is the weighted average of the costs of equity and debt for a business. While entire books have been written on the measurement questions, I will keep it simple.
1. The cost of equity is the rate of return that the marginal investors, i.e., the investors who are most influential at setting your market price, are demanding to invest in equity in your business. To get to that number, you need three inputs, a risk free rate to get started, a measure of how risky your equity is, from the perspective of the marginal investors, and a price for taking that risk.
Cost of Equity = Risk Free Risk + Relative Risk Measure * Price of Risk
In the rarefied world of the capital asset pricing model, you assume that the marginal investor is diversified, beta measures relative risk and the equity risk premium is the price of risk, yielding a cost of equity.
2. The cost of debt is the rate at which you can borrow money, long term and today. It is not a historic cost of borrowing, nor can it be influenced by decisions on changing debt maturity. It can be computed by adding a credit or default spread to the risk free rate but it does come, in many markets, with a tax benefit which is captured by netting it out of your cost.
After-tax Cost of Debt = (Risk Free Rate + Default Spread) (1- Marginal Tax Rate)
The default spread can sometimes be observed, if the company issues long term bonds, sometimes easily estimated, if the company has a bond rating and you trust that rating, and sometimes requires more work, if you have to estimate default risk yourself.
3. The weights on debt and equity should be based upon market values, not book values, and can change over time, as your company changes.

Since I want to compute the cost of capital for every one of the 42,668 firms that comprised this year’s sample, I had to make some simplifying (and perhaps even simplistic) assumptions, some of which were necessitated by the size of my sample and some by data limitations. I have summarized them in the picture below.

I have computed the costs of capital for all companies in US dollar terms, not for parochial reasons, since converting to another currency is trivial (as I noted in my post on cracking the currency code) but to allow for consolidation and comparison.

The costs of capital that I compute for individual companies have two shortcomings, driven primarily by data limitations. The first is that the beta that I use for a company comes from the business that it is categorized in, rather than a weighted average of the multiple businesses that it may operate in. The second is that I have attached the equity risk premium of the country of incorporation rather than a weighted average of the ERPs of the countries in which a company operates; I had to do this since the revenue breakdowns by country were either not available for many companies or in too difficult a form to work with. If you want to compute the cost of capital for a company using my data, I have a spreadsheet that you can use that will let you break out of these bounds, allowing you to compute a beta across multiple businesses and an equity risk premium across many countries/regions.

Differences across Geographies
The first comparison I make is in the costs of capital across different countries and regions. The picture below shows cost of capital by country and you can download the data in a spreadsheet at this link.
Given that these are all US-dollar based costs of capital, the differences across countries can be attributed to four factors:
  1. Country risk: Country risk shows up in two places in the cost of capital calculation, the equity risk premium for the company (which is set equal to the equity risk premium of the country it is in) and an additional default spread in the cost of debt. 
  2. Industry concentration: Since my measure of relative risk comes from looking at the global beta for the sector in which a company operates, the cost of capital for a country will reflect the breakdown of industries in that country. Thus, the cost of capital for Peru, a country with a disproportionately large number of natural resource companies, will reflect the beta of mining and natural resource companies.
  3. Marginal tax rate: To the extent that a higher marginal tax rate lowers the after-tax cost of debt, holding all else constant, countries with higher marginal tax rates will have lower after-tax costs of debt and perhaps lower costs of capital.
  4. Debt ratio: Twinned with the marginal tax rate, in computing how much a company is being helped by the tax benefit of debt, is the amount of debt that the company uses, with higher debt ratios often translating into lower costs of capital.
Differences across Industry Groups
I next turn to industry groupings and differences in cost of capital across them. In the table below, I list the ten (non-financial service) industry groupings globally, with the highest costs of capital, and the ten, with the lowest, at the start of 2017.
The reason for excluding financial service companies is simple. For banks, insurance companies and investment banks, the only hurdle rate that has relevance is a cost of equity, since debt is more raw material than a source of capital for these firms. You can download the entire industry list (with Global, European, Emerging Market and Australia/Canada worksheets) at this link, but again there are only a few reasons for the differences:
  1. Business risk: Some businesses are clearly more risky than others and I am using my sector betas to capture the differences in risk. 
  2. Leverage differences: Companies in some sectors borrow more than others, with mixed effects on the cost of capital. The resulting higher debt to equity ratios push up sector betas more, leading to higher costs of equity. That, though, is more than partially offset by the benefit of raising financing at the after-tax cost of debt, a bargain relative to equity.
  3. Country exposure: Some industry groupings have geographic concentrations and to the extent that those concentrations are in countries with very low or very high risk, relative to the rest of the world, your cost of capital will be skewed low or high.
Distributional Perspective
I have long argued that analysts spend far too much time on tweaking and finessing costs of capital in valuation and not enough on estimating earnings and cash flows, and I base my argument on a very simple fact. The distribution of costs of capital for publicly traded companies is a tight one, with a large proportion of companies falling in a very narrow range. Rather than talk in abstractions, consider the histogram of costs of capital for US and global companies at the start of 2017:

The median US $ cost of capital for a US company is 7.22%, 50% of all US companies have costs of capital between 5.69% and 8.14%, and 80% have costs of capital between 4.59% and 8.87%. If you expand the distribution to include all global stocks, your distribution widens but not by as much as you might think. The median US $ cost of capital for a global company is 8.03%, half of all global companies have costs of capital between 6.88% and 9.15% and 90% of all companies globally have costs of capital between 5.63% and 10.68%. In other words, you don't have a lot of leeway to move your cost of capital for publicly traded firms. It is true that as you bring in other currencies into the mix, you can make the differences larger, but as I noted in my post on currencies, it is because of differences in inflation. You may want to pay heed to these distributions the next time that you see an analyst using a 20% US$ cost of capital to value a "risky" company or a 3% US$ cost of capital for a "safe" company, since neither number looks defensible, given the distribution.

Cost of Capital Maxims
I think that we not only spend too much time on estimating costs of capital in valuation but we also misunderstand what it is designed to measure. At the risk of repeating myself, here are four suggestions that I have on the cost of capital:
  1. Don't make the cost of capital the receptacle of all your hopes and fears: Many analysts take to heart the principle that riskier firms should have higher costs of capital (or discount rates) but then proceed to intuit what that discount rate should be for company, given how risky they think it is.  In the process, they often incorporate risks that don't belong in discount rates and attach prices for those risks that reflect their gut responses rather than what the market is paying.
  2. Focus on cash flows, not discount rates: When your valuations go awry, it is almost never because of the mistakes that you made on the discount rate and almost always because of errors in your estimates of cash flows (with growth, margins and reinvestment). 
  3. Spend less time on estimating discount rates: It follows then that when you have a limited amount of time that you can spend on a valuation (and who does not?), that time is better spent on assessing cash flows than in fine tuning the discount rate.
  4. An approximation works well : When I am in a hurry to value a company, I use my distributional statistics (see graph above) to get started. Thus, if I am valuing an average risk company in US dollars, I will start off using an 8% cost of capital (the global median is 8.03%) and complete my valuation with that number, and if I still have time, I will come back and tweak the cost of capital. If it is very risky firm, I will start off with a 10.68% cost of capital (the 90th percentile) and gain revisit that number, if I have the time.
All in all, if your find yourself obsessing about the minutiae of discount rates in a valuation, it is perhaps because you want to avoid the big questions that make valuation interesting and challenging at the same time.

YouTube Video

  1. Cost of Capital (US$), by Country - January 2017
  2. Cost of Capital (US$), by Industry - January 2017
  3. US $ Cost of Capital - Percentiles for US and Global companies