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Crazy Cuban!


Parsad
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Some suggestions by Mark Cuban on personal finance:

 

Tip: Unless you know an industry or company better than everyone, keep your money anywhere but the stock market. Pay off debt. Search online for the best price on items your household needs. Pay local merchants in cash, while still paying sales tax. You’ll never lose money or sleep. You’ll never care what the market is doing. You’ll control your financial destiny.

 

I agree with pay off debt and search for the cheapest prices, but can't believe he said the stock market thing and have no idea about the paying local merchants in cash while still paying sales tax.  Cheers!

 

http://www.bloomberg.com/news/2012-07-01/billionaire-catsimatidis-says-buy-jpmorgan-as-cuban-shuns-stocks.html

 

 

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Cuban made his fortune by selling his company into the greatest bubble ever in the US.  Then he executed equity forward contracts to make sure that he would be able to take something substantial out for himself if the bubble popped before his lockup period expired. Smart move!

 

That experience colors his perspective on the stock market.

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