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Don't Blow All Your Cash At Once Rookie

philp

By philp,
in Carolina Panthers

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philp Apprentice

philp

Posted
Posted

Jeff Fisher is a dirt-bag.  This we already know.  However, I like what he's doing in St. Louis.  He's yet to sign any of this years draft picks.  He's waiting until they can handle that kind of a pay check, after getting lessons in finace.  Sure, a few weeks may not make much of a difference, but I like the idea.

 

http://profootballtalk.nbcsports.com/2014/05/30/rams-broncos-have-yet-to-sign-any-draft-picks/

 

This article reminded me of something a friend of mine wrote a month or so ago.  It's about athletes making bad financial investments.  This part made me laugh:

Consider the flood-proof couch saver. After Hurricane Katrina, professional baseball player Torii Hunter put $70,000 into a company that made inflatable rafts so buyers in flood-prone areas could float their furniture to safety. The endeavor sank.

 

Nothing totally groundbreaking here, but some good info nonetheless.  I thought he's piece fit nicely with the PFT article.  You can read the rest here:

http://www.ozy.com/c-notes/why-pro-athletes-make-bad-investors/31267.article#.U2TPanDxTHU.twitter

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BigCat Newbie

BigCat

Posted
Posted

Jeff Fisher is a dirt-bag. This we already know. However, I like what he's doing in St. Louis. He's yet to sign any of this years draft picks. He's waiting until they can handle that kind of a pay check, after getting lessons in finace. Sure, a few weeks may not make much of a difference, but I like the idea.

http://profootballtalk.nbcsports.com/2014/05/30/rams-broncos-have-yet-to-sign-any-draft-picks/

This article reminded me of something a friend of mine wrote a month or so ago. It's about athletes making bad financial investments. This part made me laugh:

Nothing totally groundbreaking here, but some good info nonetheless. I thought he's piece fit nicely with the PFT article. You can read the rest here:

http://www.ozy.com/c-notes/why-pro-athletes-make-bad-investors/31267.article#.U2TPanDxTHU.twitter

At least someone is trying to teach financial security.

BiggTazz#16

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DaveThePanther2008 Grand Master

DaveThePanther2008

Posted
Posted

Jeff fisher and the St. Louis thugs were the litmus test last year that our team is full of a bunch of tough SOB's

Sent from my iPhone using CarolinaHuddle

 

I agree.  They thought they were going to be able to come in and push us around and take the game by intimidation.  Turns out we intimidated them into some pretty bad (game costing) mistakes.

 

This is Rivera.   Rivera is a tough man and he puts that stamp on this team.  With TD, CJ, Hardy and Kuechly at the helm they push that stamp on the rest of the team.

 

With a pretty new secondary you can bet that will be an emphasis right away.   Harper will help in that category.

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Fiz Newbie

Fiz

Posted
Posted

Almost anyone regardless of age, race, or profession goes broke if they're given a large sum of money after never having any. The nfl has been doing rookie finance symposiums for years, and still the bankruptcy rate for nfl players is around 65%.

I know all the sage randian übermensch in this thread are nodding their heads thinking they'd be different, but odds are you wouldn't be!

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MadHatter Rookie

MadHatter

Posted
Posted

Almost anyone regardless of age, race, or profession goes broke if they're given a large sum of money after never having any. The nfl has been doing rookie finance symposiums for years, and still the bankruptcy rate for nfl players is around 65%.

I know all the sage randian übermensch in this thread are nodding their heads thinking they'd be different, but odds are you wouldn't be!

You are spot on.

Same reason that most lottery winners are flat broke in less than 10 years.

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RelaxImaPro Contributor

RelaxImaPro

Posted
Posted

Jeff fisher and the St. Louis thugs were the litmus test last year that our team is full of a bunch of tough SOB's

Sent from my iPhone using CarolinaHuddle

Hell yeah. I feel like that game was the real turning point for this team.

Sure, we beat the absolute dog poo out of the Giants and Vikings before that... but that seemed like the game when the team and fans finally came together and realized we actually were as good as we thought we were. Idk, maybe its just me... :p

Damn, I wanna watch that game again.

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xerxes Newbie

xerxes

Posted
Posted

All the players want to be Mark Cuban or Warren Buffet or Jay-z and create a business empire, but there's a whole industry of parasites just waiting to sell them on bad investments.

Really they should invest in a number of diverse index funds with no active manager who could embezzle from them to maximize long term returns and minimize risk. But index funds are boring as hell.

That Shark Tank poo is sexy. Plus it's more relatable. Hey you're going to own a restaurant (food service business failure rates are astronomical by the way) makes a lot more than. Hey you're going to own a very small portion of thousands of different companies to spread out your risk and you can read these hundred page long prospectus but otherwise you'll really have no information on what your money is actually doing.

Anyway I could go on a financial literacy rant for days...

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