Never fails ... think you're a master of the universe and you confirm it by buying an NBA team, this is what happens next.
(side note, see Mark Cuban, becomes a reality TV star and takes his eyes off the Mavs, they are now 7-20 and have the worst record in the NBA)
(https://si.wsj.net/public/resources/images/BN-RH166_YORK12_M_20161219125326.jpg)
Jamie Dinan, at center-left wearing a black top, dark-blue jeans and eyeglasses, paid $100 million for a stake in the Milwaukee Bucks in 2014. He sat next to team owners Wesley Edens, in white, and Marc Lasry, in gray, at an National Basketball Association quarterfinal playoff game in 2015 at the United Center in Chicago.
A Billionaire Retrenches in a Tough Year for Hedge Funds
Jamie Dinan goes on an offensive as his York Capital Management fund digs out from its second straight down year
http://www.wsj.com/articles/a-billionaire-retrenches-in-a-tough-year-for-hedge-funds-1482229803
Hedge-fund manager Jamie Dinan is ending 2016 the way he started it: eating humble pie.
The main fund at his York Capital Management, which fell 14% last year, lost another 1% through early December. That performance has pushed Mr. Dinan to crisscross the globe in his most intense client interactions in years, people familiar with the matter say.
He took his private jet to Seoul in January to meet with South Korea's sovereign-wealth fund. In March and April, he met with investors in Switzerland, Sweden and Norway. More recently, the Abu Dhabi Investment Authority and large investors throughout the U.S. have landed on his itinerary.
The pressure is particularly visible at York, where the decline in assets under management has been among the most stark. Assets have slumped to $17 billion this year, down 35% from $26 billion last year, according to investor documents and a person familiar with the matter.
With a personal fortune estimated at $2 billion, Mr. Dinan paid $100 million for a piece of the NBA's Milwaukee Bucks in 2014. He had enough clout to help get wrestling reinstated to the Olympics; his sons wrestled in school.
There's an nba post already on this page. And it's not even multiple pages.
Get it together, heisy
This is a different topic ... this topic is about Rich guys and what happens to them when they buy expensive toys and stop focusing on how they got rich.
You really do make yourself look stupid with your thought policing of a message board because you're really not good at it.
Quote from: Jesse Livermore on December 20, 2016, 10:34:17 PM
This is a different topic ... this topic is about Rich guys and what happens to them when they buy expensive toys and stop focusing on how they got rich.
You really do make yourself look stupid with your thought policing of a message board because you're really not good at it.
How'd you know what he said? Didn't you announce to the Scoop world that you had put him and me on ignore?
Quote from: jesmu84 on December 20, 2016, 10:20:56 PM
There's an nba post already on this page. And it's not even multiple pages.
Get it together, heisy
Come on, bro. Now you guys are busting his balls just for the sake of it.
They are among the fragile snowflakes here that get really upset at new threads that invade their little safe spaces.
It don't matta. Ya got a couple of rich idiots who can't afford socks in da winter, hey?
Quote from: 4everwarriors on December 21, 2016, 07:26:45 AM
It don't matta. Ya got a couple of rich idiots who can't afford socks in da winter, hey?
Depends on how much of his own wealth is tied up in his hedge fund.
Quote from: Dr. Vinnie Boombatz on December 21, 2016, 08:23:34 AM
Depends on how much of his own wealth is tied up in his hedge fund.
If he's compensated on a typical hedge fund manager's rate, his company gets a cut of whatever assets are under management, and as a principal of that company... I'd say his own wealth is closely linked to the performance of his fund. If he can't keep making his clients money then both will the be a smaller value of AUM from the value of investments going down as well as client redemptions taking their $ elsewhere.