Tim Duncan loses 20m from friend/financial advisor

[Liquid]

We'll get through this

At this rate Timmy might be putting 2 of those rings up for sale Jose Canseco style

 

[Big Boss]

should have invested in wingstop


lemon pepper wings

 

[Master Teacher]

i think of rich as being comfortable. If i can get 10-15% of a single million that can supplement my work income and make for a nice retirement.

And the true generational wealth will come from passing that on to my younger family members in terms of methodology.

i'm all about slow and steady while building up wealth.

you are not about see 10-15 percent annual returns on damn stocks

Tim Duncan was already rich and already comfortable, that's the point I'm making, he had no reason to give this fukking clown that much money

When Real Estate you can easily make 10-15 percent off you initial investment a month without even trying with the amount of money tim has

Tim could brought a 50 unit apartment building valued at 1.3 mil for 300,000 cash from an asset manager at any bank, put 150 thousand in renovations into and sell it or 900 within 3 months to another investor who will still be getting nearly a half million in equity

Or he could took his 20 million and brought a high rise I Miami appraised at 45 million

 

[wheywhey]

Timmy has 150 mil net worth, he can take this hit.

Thanks. Some people here seem to think Tim Duncan is dead broke. He is just missing a part of the money he invested, granted it's $20 million. The money he invested elsewhere has probably grown quite nicely.

 

[Big Boss]

All white peoples ain't bad, where the white womens at? We is our own worst enemy.

 

[GunRanger]

Thanks. Some people here seem to think Tim Duncan is dead broke. He is just missing a part of the money he invested, granted it's $20 million. The money he invested elsewhere has probably grown quite nicely.

Even the money he invested, he's only upset about the fees his advisor charged

 

[USSInsiders]

Athletes just out smarting themselves. Just throw that shyt in a savings account, live within your means, and if you do invest, stick to gambling on sports or some shyt.

 

[USSInsiders]

Most of Melo's pan out tho.

Unless Melo is selling molded replicas of his ass, I don't think he's gonna make a lot of money in some complicated ponzi-type scheme all of these athletes fall for.

 

[Master Teacher]

Timmy has 150 mil net worth, he can take this hit.

Net worth does not equate to liquid cash

losing 20 million dollars in cash, granted it was over a period of time, is till a huge hit

 

[DrexlersFade]

Thanks. Some people here seem to think Tim Duncan is dead broke. He is just missing a part of the money he invested, granted it's $20 million. The money he invested elsewhere has probably grown quite nicely.

Dude been in the league since 97 and been getting paid what's wrong with these cats bean stans

 

[69 others]

Pro athletes don't accumulate their wealth from making 'pecuniary decisions' or being business moguls - they gain it from playing sports - to suggest that a financial adviser can't tell them anything about how to handle MONEY, just because they have more of it than them is mala fide thinking. This doesn't just pertain to athletes either, because not only wouldn't the world be able to function if the rich only listened to the richer, but it's not theoretically possible.

finally a post with sense. even people who trade and invest for a living have financial advisors or other people that invest some of their money. it's call specialization and it's even more important for people who are rich cause they spend so much time doing and focusing on the things that got them rich there is hardly any left for them to be fully involve in anything else. the main problem with duncan and a lot of these athletes is that they choose people based on friendship or kinship to manage their money instead of going to reputable firms with solid systems and reputations to protect. why y'all think lord camel be up by goldman sachs

 

[☑︎#VoteDemocrat]

I hope Melo takes notes... He's probably got much more or will eventually have more bread tied up into the ventures he's trying to get poppin'

I know lala is just BURNING paper in that household

 

[☑︎#VoteDemocrat]

what an idiot, there is no defending this

if you ask me for more than $20 i'm looking at you sideways

 

[J-Fire]

you are not about see 10-15 percent annual returns on damn stocks

Tim Duncan was already rich and already comfortable, that's the point I'm making, he had no reason to give this fukking clown that much money

When Real Estate you can easily make 10-15 percent off you initial investment a month without even trying with the amount of money tim has

Tim could brought a 50 unit apartment building valued at 1.3 mil for 300,000 cash from an asset manager at any bank, put 150 thousand in renovations into and sell it or 900 within 3 months to another investor who will still be getting nearly a half million in equity

Or he could took his 20 million and brought a high rise I Miami appraised at 45 million

whats the historical return on the s&p500 per year before you tell me whats not possible per year? lol and that's the easy way

and then picking undervalued stocks...a portfolio of 5-10 you can possibly come out even better per year.

 

[Ronald McDonald]

These financial advisors aint loyal