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re: "Don't make investments"- Mark Cuban on advice to powerball winner
Posted on 1/12/16 at 1:09 pm to tiggerthetooth
Posted on 1/12/16 at 1:09 pm to tiggerthetooth
quote:
Its going to be about $850 mill if you take the cash option.
WAY less
1
Posted on 1/12/16 at 1:10 pm to 13SaintTiger
Mark Cuban is one person that I would take advice from regarding what to do with my $
Posted on 1/12/16 at 1:10 pm to Geauxld Finger
quote:
If you have half a brain you would diversify. Leave like 20 million in a bailout account.
Invest in some property and businesses but know when to cut bait and why's a stupid deal.
Give your family some money one time then cut them off. They are the biggest leeches of all.
Most of all don't be dumb. Don't buy a plane, a yacht, or a 10 bedroom mansion.
yeah that's all well and good, but have you seen the people who play the lottery?
Posted on 1/12/16 at 1:10 pm to tiggerthetooth
quote:
Its not going to be $1.5 B. Its going to be about $850 mill if you take the cash option.
Thanks. That makes a big difference. You local bank teller would be ok with this. It was just the $1.5 billion that would cause her to balk. 
Posted on 1/12/16 at 1:11 pm to 13SaintTiger
if you could put 930mil in one money market fund at 1.10% return you could easily live off the interest. Which is a little over a million a year just off of the interest.
Posted on 1/12/16 at 1:11 pm to MightyYat
quote:
You'd have to spread it around to every bank in the state.
No. There are other options to insure large sums of money.
Posted on 1/12/16 at 1:11 pm to LNCHBOX
quote:
For the type of people that seem to win these things, that's great advice.
this.
if people were, generally, rational investors, you ought to take the lump sum
Posted on 1/12/16 at 1:11 pm to RATeamWannabe
I consider my self pretty smart, have an MBA and I'm in the middle of the CFA. If won that shite I'd put atleast 50-70% in some sort of treasury or super low risk vehicle. Then try my hand with the rest, but in very small increments. If you didn't earn it, no matter how smart you are, it's gonna be impossible for you take make it back if you lose it.
Posted on 1/12/16 at 1:11 pm to Breesus
Posted on 1/12/16 at 1:11 pm to UpToPar
quote:
If you win the lottery, you pay people much smarter than yourself to invest your money for you.
Problem is you're probably not smart enough to even figure out who those "smarter" people are and much more likely to get taken.
Posted on 1/12/16 at 1:12 pm to tke857
quote:
if you could put 930mil in one money market fund at 1.10% return you could easily live off the interest. Which is a little over a million a year just off of the interest.
Ugh case in point for how bad people are at math and finance
Posted on 1/12/16 at 1:12 pm to Mo Jeaux
quote:
You local bank teller would be ok with this. It was just the $1.5 billion that would cause her to balk.
And it would DEFINITELY get a 10 day hold on it.
This post was edited on 1/12/16 at 1:15 pm
Posted on 1/12/16 at 1:12 pm to Breesus
That's my thought, too. We could get a crash like '08 with no bailout and if your annuity company goes kaput, you're screwed.
This post was edited on 1/12/16 at 1:14 pm
Posted on 1/12/16 at 1:13 pm to tiggerthetooth
quote:
No. People much smarter than you would milk your every dime without you being smart enough to know.
you think a PE firm would do that?
ETA: we aren't taking about your local life insurance salesman/financial planner
This post was edited on 1/12/16 at 1:14 pm
Posted on 1/12/16 at 1:13 pm to stout
quote:
No. There are other options to insure large sums of money.
I know that. I was just saying if you wanted to have it all in a basic checking account.
Posted on 1/12/16 at 1:14 pm to Y.A. Tittle
quote:
Problem is you're probably not smart enough to even figure out who those "smarter" people are and much more likely to get taken.
That's why you'd better spread it around with the big boys and not your local guy who slings insurance products. Gonna need some deep pockets behind whomever you choose.
Posted on 1/12/16 at 1:14 pm to yellowfin
quote:
you think a PE firm would do that?
That's a pretty risky investment.
Posted on 1/12/16 at 1:16 pm to tiggerthetooth
quote:
$930 million cash value actually.
Divide by half for taxes.
Posted on 1/12/16 at 1:16 pm to tke857
quote:
if you could put 930mil in one money market fund at 1.10% return you could easily live off the interest. Which is a little over a million a year just off of the interest.
Something tells me you're EXACTLY the idiot Mark Cuban was thinking of.
1% of 930,000,000 is 9,300,000, Warren Buffett.
Posted on 1/12/16 at 1:16 pm to barry
call up Charlie
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