Mark Cuban bought $20 million worth of QQQ Puts before the 2000 crash

[newwurldmn]

In general, I think Cuban is one of the sharpies in the financial world. Looking back at all the "legends" in various fields, many of them were one hit wonders and probably unlikely to ever reproduce that kind of wealth ie Gates, Zuckerberg. They are probably sharp enough to make a couple of million over their lifetime if they didn't have their big windfall. The true legends are guys like Jobs who rose like a phoenix and revolutionized the world a 2nd time (maybe 3rd time) with the iPhone. Cuban, I think, could replicate his fortune if he had to start over again.

Cuban is the very definition of a one hit wonder. In the dotcom era, he sold a bullshit company at a bullshit price for bullshit stock in another bullshit company. He realized it was all bullshit and hedged his winnings.

In the meanwhile yahoo took a multi-billion dollar write down on the acquisition.

it compares nothing to what bill gates, zuckerberg and other tech titans have created, evolved and nurtured.

 

[lwlee]

I seriously doubt that. Gates and Zuckerberg got lucky in a once in a lifetime opportunity. Being in software at the right time with the right concept. Lots of other smart people would have accomplished the same thing if they had that opening. You only have to look at Ballmer to see the luckiness of that situation Hey, it's all that matters having that one idea at the right time.

What I'm talking about is replicating that same magic more than once. Cuban had one of those lucky once in a lifetime plays with Broadcast.com. But he also did it with MicroSolutions. Then he had the foresight to bet big against the dot com bubble. He's been able to branch out to a lot of other things and be successive. Bringing a championship to Dallas.

Another truly special person is Musk. Parlay big winnings in PayPal to launch even greater heights in SpaceX and Tesla. Cuban has that potential to go higher. Guys who think outside the box.

Cuban is the very definition of a one hit wonder. In the dotcom era, he sold a bullshit company at a bullshit price for bullshit stock in another bullshit company. He realized it was all bullshit and hedged his winnings.

In the meanwhile yahoo took a multi-billion dollar write down on the acquisition.

it compares nothing to what bill gates, zuckerberg and other tech titans have created, evolved and nurtured.

 

[newwurldmn]

I seriously doubt that. Gates and Zuckerberg got lucky in a once in a lifetime opportunity. Being in software at the right time with the right concept. Lots of other smart people would have accomplished the same thing if they had that opening. You only have to look at Ballmer to see the luckiness of that situation Hey, it's all that matters having that one idea at the right time.

What I'm talking about is replicating that same magic more than once. Cuban had one of those lucky once in a lifetime plays with Broadcast.com. But he also did it with MicroSolutions. Then he had the foresight to bet big against the dot com bubble. He's been able to branch out to a lot of other things and be successive. Bringing a championship to Dallas.

Another truly special person is Musk. Parlay big winnings in PayPal to launch even greater heights in SpaceX and Tesla. Cuban has that potential to go higher. Guys who think outside the box.

he didn’t bet big. He hedged. Why? Because he knew he wasn’t building anything that will last.

bill gates is a one hit wonder. He built only one company. But that company has dominated tech for 40 years, transformed the world, and would have made him a trillionaire if he weren’t so concerned about solving hundreds of the world’s problems and he’s succeeded in many of them.

and it’s a little ironic that much of the value in Cubans nba team was derived because ballmer paid stupid money for the clippers (which he got from that one hit wonder: Microsoft).

 

[lwlee]

Lol with word semantics. These damn daytraders are not building anything useful. Those damn winning poker players don't help society.

PC operating system was bound to happen. Just like the Internet spawned Google. Bound to happen. Don't confuse the paradigm shift and the companies that are leading the way with the people who were lucky enough to be in charge of them. Sergey Brin, another one hit wonder. I say it sarcastically but in the end, if you do it again then you prove it was no fluke.

But what we are considering here, are the people themselves. Do they have the capacity to think outside the box and reproduce those revolutionary ideas again? Gates is trying to pour his billions into solving major world problems. In the end, if he succeeds at doing something then history will show that he was one of the "legends". As of right now, I haven't seen that much from him.

Ballmer acquisition was recent and just another upward trend in NBA valuations. Cuban's foresight was to bring innovations in order to allow him to build a championship team. Using performance metrics ala "Moneyball" was one of the reasons, he could get a chip. That outside the box thinking is why I think he's better than others

he didn’t bet big. He hedged. Why? Because he knew he wasn’t building anything that will last.

bill gates is a one hit wonder. He built only one company. But that company has dominated tech for 40 years, transformed the world, and would have made him a trillionaire if he weren’t so concerned about solving hundreds of the world’s problems and he’s succeeded in many of them.

and it’s a little ironic that much of the value in Cubans nba team was derived because ballmer paid stupid money for the clippers (which he got from that one hit wonder: Microsoft).

 

[Overnight]

...


Ballmer acquisition was recent and just another upward trend in NBA valuations. Cuban's foresight was to bring innovations in order to allow him to build a championship team. Using performance metrics ala "Moneyball" was one of the reasons, he could get a chip. That outside the box thinking is why I think he's better than others

Dance, monkey boy!

The fuck did Ballmer ever do for MSFT aside from get rich off of it's stock? Does Ballmer appear to you as a guy who has ever done any actual, real, WORK?

 

[lwlee]

LOL, Ballmer. I remember some of the "innovations" he ok'ed at MS. Windows Vista. UGH, crap. Xbox was under him and did ok. But it seems the strategy was misplaced just like Surface notebooks. Stick with software. Unless you can control the entire platform like Apple, you should just concentrate on software. If Ballmer was truly visionary, internet search/ads (Google) and web services (AWS) would have been areas that they could have gotten into much bigger. Instead they play catch-up and copycats with Bing and Azure.

The biggest thing that could be said about Ballmer and even Gates is that they didn't f*ck up the golden goose when they had it.

Dance, monkey boy!

The fuck did Ballmer ever do for MSFT aside from get rich off of it's stock? Does Ballmer appear to you as a guy who has ever done any actual, real, WORK?

 

[Pekelo]

Cuban is the very definition of a one hit wonder.

You missed the part where his wealth doubled, tripled since he sold those puts. Also you need talent to sell your BS company to other idiots, instead of going down with the ship. It is not his fault that Yahoo overpaid for it, but it was his talent that he cashed out on the VERY TOP. Most dotcom millionaires wealth melted away...

Comparing him to Gates and Zuckerberg is apples/oranges, he has been mostly an investor not a company CEO/showrunner.

And really, just how many billions do you need to enjoy life? Cuban invested in what he liked, basketball and he made a top team out of his passion. That is how you live your life, not pissing off people with your stupid products and counting your paperwealth.

Have I mentioned Gates and Zuckerberg are universally hated???

 

[Pekelo]

he didn’t bet big. He hedged. Why?

Because he was smart?

Look dude, you are a moron. You are blaming Cuban for not being Gates/Zuckerberg. How the fuck is that even an argument?

The whole thread is about a very smart option play, locking in and protecting a preferred price. If you were a trader you should recognize that and acknowledge Cuban's genius.

Also look up my thread about his returns... And a life lesson for you: Life is more than just about money, as Gates eventually found out later in his life when he finally started charity works...

Edit: About the one trick pony part:

"Cuban purchased a majority stake in the NBA's Dallas Mavericks for $285 million "

Today the team is worth 2.5 Billion, so his stake went up 300%. Not bad.

 

[newwurldmn]

Before you call someone a moron, you probably shouldn’t say moronic things:

1. I didn’t bring up bill gates or mark Zuckerberg. Lwlee did. So ask him instead of me.
2. You talk about how money isn’t everything but 50percent of both your posts are about how awesome Cuban’s returns are.


I love it when people on here make the “if you were a real trader…” The only people who make that argument are the posers.

Learn to read a thread before you comment. Or if you don’t want to do that, stick to neke’s thread where you can continue to laugh at him while providing nothing of value yourself.

 

[newwurldmn]

Because he was smart?

Look dude, you are a moron. You are blaming Cuban for not being Gates/Zuckerberg. How the fuck is that even an argument?

The whole thread is about a very smart option play, locking in and protecting a preferred price. If you were a trader you should recognize that and acknowledge Cuban's genius.

Also look up my thread about his returns... And a life lesson for you: Life is more than just about money, as Gates eventually found out later in his life when he finally started charity works...

Edit: About the one trick pony part:

"Cuban purchased a majority stake in the NBA's Dallas Mavericks for $285 million "

Today the team is worth 2.5 Billion, so his stake went up 300%. Not bad.

See my post above you don’t think I tried to post this without you seeing it.