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re: "Don't make investments"- Mark Cuban on advice to powerball winner
Posted on 1/12/16 at 1:17 pm to Geauxld Finger
Posted on 1/12/16 at 1:17 pm to Geauxld Finger
quote:
10 bedroom mansion.
Why would I downgrade?
0
Posted on 1/12/16 at 1:18 pm to Mo Jeaux
quote:
That's why you'd better spread it around with the big boys and not your local guy who slings insurance products.
Your comparisons have nothing to do with the issue. Those "big boys" can take advantage of you easier than those local guys. Obviously no one is going to anyone local with this amount of cash. The issue is finding expert investors you can trust.
Posted on 1/12/16 at 1:19 pm to TigerstuckinMS
quote:
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 1:19 pm to 13SaintTiger
quote:
The issue is finding expert investors you can trust.
I'd just buy more Iraqi Dinar. They are going to be reevaluated soon and I will make a killing.
This post was edited on 1/12/16 at 1:20 pm
Posted on 1/12/16 at 1:19 pm to tiggerthetooth
quote:
"Don't make investments"- Mark Cuban on advice to powerball winner
I think this Mark Cuban's way of saying "If you win, you'll probably be an idiot, so lets take the most conservative approach possible, and don't act like you're nott an idiot."
Mark thinks he's a lot smarter than he is iMO. We all know everything he is was a result of the .com bubble. He cashed in on "broadcast.com". The end.
And yes, it seems like its mostly people in sort of "trashy/impoverished/lowly" places that win these things.
For example, the girl in NC who won $100+ million, first thing she does is bail out her drug dealing ex-bf from jail for $2 million. Obviously she would get that back, but that being the first thing she thought to do is nuts.
Mark Cuban doesn't pretend to be some financial wiz unlike the OT $50k / per year millionaires.
Howard Stern asked Cuban what he invested in( thinking he would get some sophisticated financial advice) he said " Nothing". Basically Cuban said CDars & savings/ bonds.
He has a billion dollars so why high risk invest ? You have made it if you are worth $500 million plus. $100 million plus.
And the couple million the NC winner spent on bail is more than most here are worth & she still has $80 million plus in the bank. I'd find something else to concern myself with if I were you.
Next person is going to come in with the lottery Jackpot winner ' broke in 5 years ' urban myth.
Posted on 1/12/16 at 1:19 pm to 13SaintTiger
quote:
Your comparisons have nothing to do with the issue.
They have everything to do with the issue.
quote:And they have the deep pockets to compensate you in respect of nefarious actions committed by their employees.
Those "big boys" can take advantage of you easier than those local guys.
quote:
The issue is finding expert investors you can trust.
Well no shite.
Posted on 1/12/16 at 1:20 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.
Posted on 1/12/16 at 1:20 pm to stout
The best point that Cuban is brining up is that it is a HELL of a lot easier to invest your way out of a billion dollars than spend your way out of a billion dollars.
Posted on 1/12/16 at 1:21 pm to Mo Jeaux
quote:
And they have the deep pockets to compensate you in respect of nefarious actions committed by their employees.
You don't get it.
Posted on 1/12/16 at 1:21 pm to sugar71
quote:
Next person is going to come in with the lottery Jackpot winner ' broke in 5 years ' urban myth.
I think this mostly applies to the ones that win under $10 million. The hundreds of millions winners are a bit different. You have to really try to lose that kind of money.
Posted on 1/12/16 at 1:21 pm to 13SaintTiger
quote:
You don't get it.
Neither do you.
Posted on 1/12/16 at 1:22 pm to sugar71
quote:
And the couple million the NC winner spent on bail is more than most here are worth & she still has $80 million plus in the bank. I'd find something else to concern myself with if I were you.
I think you missed the point entirely. Carry on though.
Posted on 1/12/16 at 1:22 pm to 13SaintTiger
I'd buy a basketball team. Maybe the Pelicans.
Posted on 1/12/16 at 1:23 pm to Mo Jeaux
quote:
Neither do you.
You think some deep pocket investor has to compensate you for losses due to nefarious activity........ trust me, it's you who doesn't get it.
This post was edited on 1/12/16 at 1:25 pm
Posted on 1/12/16 at 1:24 pm to tiggerthetooth
1.5B or 850 mill, my question still stands.
Posted on 1/12/16 at 1:25 pm to 13SaintTiger
quote:
You think some deep pocket investor has to compensate you for loses due to nefarious activity........ trust me, it's you who doesn't get it.
No, that's not what I said, nor is it what I meant. You've just confirmed that it is indeed you who doesn't get it.
This post was edited on 1/12/16 at 1:26 pm
Posted on 1/12/16 at 1:26 pm to Mo Jeaux
quote:
And they have the deep pockets to compensate you in respect of nefarious actions committed by their employees.
LOL
Posted on 1/12/16 at 1:26 pm to Mo Jeaux
quote:
Those "big boys" can take advantage of you easier than those local guys.
And they have the deep pockets to compensate you in respect of nefarious actions committed by their employees.
Investors of Madoff and Stanford would disagree.
Posted on 1/12/16 at 1:26 pm to barry
quote:
Ugh case in point for how bad people are at math and finance
I think or hope he means investing in a sole business or something. Like if your Uncle Rico comes by and says he's got the in on this new Beef Jerky company and just needs $100 MM to get it started. I think you stick that in low risk bonds or mutual funds. I wouldn't just have it in an account. If that were the case, I'd definitely take the annuity.
Posted on 1/12/16 at 1:26 pm to 13SaintTiger
quote:
Agree/Disagree? Discuss.
Disagree, but I am in the Private equity/investment banking arena all ready.
I know the 10 or so folks I will be putting to work to help me manage deal flow.
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