DALLAS Dallas Mavericks owner Mark Cuban wants to open a hedge fund to be managed by professional gamblers for betting on sporting events.
Cuban considers stock investing not much more than a gambling trip to Las Vegas. So he proposed the fund over the weekend to readers of his blog. The posting was entitled "My New Hedge Fund."
He said in an e-mail to The Dallas Morning News that the goal would be profits "and to prove that the current equity markets are more Ponzi scheme than efficient markets."
Cuban's letter criticized what he sees as the unfairness of stock investing. He says gamblers have much more information about the local sports team than investors do about a company.
Cuban doesn't say when the fund will be launched, which sports it will bet on or what the "gambling hedge fund" will be called.
team4news.com
Cuban considers stock investing not much more than a gambling trip to Las Vegas. So he proposed the fund over the weekend to readers of his blog. The posting was entitled "My New Hedge Fund."
He said in an e-mail to The Dallas Morning News that the goal would be profits "and to prove that the current equity markets are more Ponzi scheme than efficient markets."
Cuban's letter criticized what he sees as the unfairness of stock investing. He says gamblers have much more information about the local sports team than investors do about a company.
Cuban doesn't say when the fund will be launched, which sports it will bet on or what the "gambling hedge fund" will be called.
team4news.com