If they are in the market since 2013, then you would think they would know that P/E ratios in altcoin market are astronomical.

Think about all the altcoins that have 0 earnings, but a high price.  The PE ratio is closer to infinity in this market than it is to the S&P 500

They calculated a 20% yearly return for performance fund even in the optimistic scenario.  If Iconomi hits on just one ico that pumps, return would be better than that.

They completely neglected to add in any value that will come from the fund management platform, a social trading platform that can take some of etoro market.