OT: Texas fires Vince Young

[CashMoneyCane]

That is rather presumptuous of you. I work in asset management and I know the exorbitant fees high net worth clients pay for separately managed accounts. Paying 150+ basis points in fees is a long-term losing proposition. What is it you're selling to clients? I'm a CFA charter holder, I can hold a conversation about this with you or anyone.

1. Your CFA means nothing to me. Worked with plenty. More education does not mean more knowledge.
2. At NO point was I discussing fees. Actually, my EXACT PROPOSITION is you're way, way better off in ETF's with asset allocation properly and actively managed. Fees are a cancer on returns and exchange funds offer less concentration risk than mutual funds.
3. I managed five billion dollars in SMA's. I'll discuss portfolio management all day long.
4. You're not addressing the FACT that you take less risk investing with an institution than you do with an individual.
5. Paying 150 basis points when you have $100 million is NOT a losing proposition over the long term because you have access to elite managers.

 

[JBCanes-NC]

It wasn't all Jeff Fisher's fault but no one can deny how different Jared Goff looked with Sean McVay than with Fisher.

Jeff Fisher is one of the most overrated coaches in NFL history, he was a career .500 coach & his only winning seasons in his career were with Steve McNair & Vince Young. His time in STL/LA he didn't have one season above .500.

Oh, Jeff Fisher is hot garbage... But I hear Shannon retarded Sharpe blaming him for Vince being a fat *** drunk and ruining his own career.

 

[Cribby]

Oh, Jeff Fisher is hot garbage... But I hear Shannon retarded Sharpe blaming him for Vince being a fat *** drunk and ruining his own career.

He once got drunk on Cheesecake Factory , he really loves that stuff.

 

[Poptimus]

1. Your CFA means nothing to me. Worked with plenty. More education does not mean more knowledge.
2. At NO point was I discussing fees. Actually, my EXACT PROPOSITION is you're way, way better off in ETF's with asset allocation properly and actively managed. Fees are a cancer on returns and exchange funds offer less concentration risk than mutual funds.
3. I managed five billion dollars in SMA's. I'll discuss portfolio management all day long.
4. You're not addressing the FACT that you take less risk investing with an institution than you do with an individual.
5. Paying 150 basis points when you have $100 million is NOT a losing proposition over the long term because you have access to elite managers.

Lighten up. Obviously, no one should hand their money over to some individual, ever. I'm going to disagree with you about active management, especially now in the late stage growth cycle. We're wrapping up the longest bull run in history, I hope your clients seek out some index investing or it'll get ugly in the near future.

What do you mean by "exchange funds offer less concentration risk than mutual funds"? Most ETFs are passively managed, you realize that, right? Passive investing is the way to go unless you're a qualified purchaser with $5M and have access to alternatives that most of us aren't. But you're the self-proclaimed guru managing $5B in SMAs, so I trust you already know that.

 

[PCBcanefan]

AHHHHHHHHH SNAP!!!!!! We have a money managers fight going on! Might get bloody in here fellas!!

 

[deleted19096]

100K. He dealt with serious issues around financial mismanagement, which seems to somehow happen to basically every professional athlete. I don't get it... you can hire some ******* down the street or bring your tens of millions of dollars to a place like... I don't know... JP Morgan? Goldman Sachs? Northern Trust? People that have been doing it for 100 years because they don't spend their clients' money.

He was a total moron with his money

Vince Young racked up millions in debt by 2014

Vince Young details how he accumulated debt over the years and filed for bankruptcy in 2014.

www.si.com

 

[Midlo Cane Fan]

AHHHHHHHHH SNAP!!!!!! We have a money managers fight going on! Might get bloody in here fellas!!

And this is exactly why I rarely post.

 

[UMinati]

 

[GladeCane]

Get yourself an S&P ETF and one for the NASDAQ and fuhgettaboutit.

 

[deleted19096]

100 k a year wouldn’t even pay for his Cheesecake Factory habit

Cheesecake Factory is delicious.

 

[Poptimus]

Get yourself an S&P ETF and one for the NASDAQ and fuhgettaboutit.

Not a bad idea right about now. I recently redeemed out of all my aggressive ETFs with Asia and China tilts because I knew Trump would never allow the tariff hike to be implemented. He kicked the can down the road again, but I think any deal with China is already factored into the price to where unless it's something amazingly unexpected, that ship sailed. But I like your advice. No way would I touch a Russell 1000 ETF or anything aggressive right now. The DOW was recently about 3,000 points higher than it was just recently in December. Why? Major overreaction IMO.

 

[pacusmc]

Lighten up. Obviously, no one should hand their money over to some individual, ever. I'm going to disagree with you about active management, especially now in the late stage growth cycle. We're wrapping up the longest bull run in history, I hope your clients seek out some index investing or it'll get ugly in the near future.

What do you mean by "exchange funds offer less concentration risk than mutual funds"? Most ETFs are passively managed, you realize that, right? Passive investing is the way to go unless you're a qualified purchaser with $5M and have access to alternatives that most of us aren't. But you're the self-proclaimed guru managing $5B in SMAs, so I trust you already know that.

Yeah, Chinese to most of us non finance guys. Alll we wanna know is how do we start using all these weird *** financial vehicles to drop bags.
Something Like this maybe?

New Project Wants to Make It Simple to Invest in Professional Athletes

Globatalent's concept it to facilitate fans purchasing tokens tied to future earnings of sports professiona

www.inc.com

 

[Poptimus]

Yeah, Chinese to most of us non finance guys. Alll we wanna know is how do we start using all these weird *** financial vehicles to drop bags.
Something Like this maybe?

New Project Wants to Make It Simple to Invest in Professional Athletes

Globatalent's concept it to facilitate fans purchasing tokens tied to future earnings of sports professiona

www.inc.com

Interesting article. I joke around with guys I work with all the time about starting a commingled fund that seeks a total return based on sports gambling. And any given game would have maybe 1-1.5% of the fund wagered on a pointspread. Unlike a mutual fund, we'd provide full transparency on a daily basis of all "holdings" for our investors to know what we wager on.

And then I wake up.

 

[1mg of Epi]

Wow!! I didn't know he was broke. They probably were paying him like 250k and he is too much of an idiot to mess up that sweet gig.

$50k lol

 

[Heart of The Playmaker]

Interesting article. I joke around with guys I work with all the time about starting a commingled fund that seeks a total return based on sports gambling. And any given game would have maybe 1-1.5% of the fund wagered on a pointspread. Unlike a mutual fund, we'd provide full transparency on a daily basis of all "holdings" for our investors to know what we wager on.

And then I wake up.

****....pretty innovative...but analysis would have to be top notch...or things could go down real fast.

 

[tcgrad1014]

1. Your CFA means nothing to me. Worked with plenty. More education does not mean more knowledge.
2. At NO point was I discussing fees. Actually, my EXACT PROPOSITION is you're way, way better off in ETF's with asset allocation properly and actively managed. Fees are a cancer on returns and exchange funds offer less concentration risk than mutual funds.
3. I managed five billion dollars in SMA's. I'll discuss portfolio management all day long.
4. You're not addressing the FACT that you take less risk investing with an institution than you do with an individual.
5. Paying 150 basis points when you have $100 million is NOT a losing proposition over the long term because you have access to elite managers.

"Nobody knows nothing."

-John C. Bogle

 

[OriginalGatorHater]

I was thinking to myself, "if I made $30 million in guaranteed money, I sure wouldn't care all that much about my 100K a year job either." Then I found out he's broke.

Having managed money for the ultra-rich for a living, I've seen plenty of people squander fortunes. I know exactly how to do it. And I still can't believe it happens.

The funniest part about this is what he spent his money on. He was doing ridiculous schit like spending 6k at TGIF and was spending 5k every week at cheesecake factory.

Instead of chartering planes he would just purchase as many tickets as he could for the flights he would fly on.

Bar tenders in Tenn would name rename basic drinks like screwdrivers the Vince Young shot or something like that, charge him double and pocket the difference as a tip. lol. The list goes on and on. After you finish laughing you realize just how sad it really is.

 

[77cane]

I think when you get to high school it should be a requirement that you take finance classes. Start with simple money management, then progress to how markets work with all its various investment vehicles complete with its rewards and risk.
Instead we get graduates who are propagandized into believing it's the governments job to take care of your needs.
If you fail it's someone else's fault.

 

[OriginalCanesCanesCanes]

@CashMoneyCane @Poptimus

What do you consider the “ultra rich” you were discussing?

Net worth of $50M. More? Less?

 

[Groz73Cane]

Vince Young is starting to look like....The Titanic heading toward the Iceberg....

Nope, that ***** has hit the ***king Berg. Taking on water, drop the life boats, cue the music.