Username: Password: # Value of shares

Shares will trade at a variety of values, depending on dividend forecast and speculation, but also on the final valuation of shares. At the end of the game, shares are valued based on the results of bumps. The formula used is similar to the Michell Cup formula, but it weighted towards the performance of higher boats.

If a college has 3 crews, then we take the number of places gained by each crew. A day rowing over at head counts as +1, a day rowing over at the bottom of the river counts as -1. To weight towards higher boats, we multiple the 3rd boat score by 1, the 2nd boat score by 2, and the 1st boat crew by 3. We then divide by the total of 1+2+3 to get the weighted average. With a different number of boats in a college, we still multiple the bottom crew by 1, the next crew by 2, etc. and divide by the total of the weights.

If a college has both mens and womens crews, then we calculate the weighted average for each sex, then do a simple average on the two figures.

We have have a single number for each college. 0 means that in general all crews rowed over. +4 means all crews got blades, -4 means all crews got spoons. If the number is positive, the share price in pounds is the number plus one. So all crews getting blades means the price is £5. If the number is negative, we divide the number by 3 then add one, to get the price in pounds. So if all crews go down 2, the number of the college is -2, the share price would be £0.33. If the price would be negative, then it is zero.

Throughout the game the user has a Nominal Share Value, which is an approximation of the assets held in shares. This values all shares held at a very rough approximation to their value when being traded.

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