Clinton Portis, great human being, contemplated murder after NFL Career

[Schneed10]

Originally Posted by Giantone

Not what it says ,so keep up.


All anyone is saying is that it's easier than you think to lose your money and even very smart educated people have lost it all. These people lost lots of money and all thought they were doing the right thing.


Madoff's Victim List - The Wall Street Journal



The people that had their money here are so thought they had done the right thing......
https://en.wikipedia.org/wiki/Bankru...ehman_Brothers

OK well you're naming two things that are EXTREMELY different than what happened to Portis.

Lehman Brothers exposed itself so greatly to the mortgage crisis that it sunk the entire ship, and that turned out to be reflective of disingenuous practices fostered by ignorance of the problem at the Treasury department under Bush. So yeah lots of smart people lost money on that deal because the oversight was lacking.

Portis flat out gave his money to a con man, like Madoff. But the guy Portis gave his money to couldn't boast credentials like former chairman of the NASDAQ, like Madoff could. If you can't tell the difference from the jump then I'd suggest you shouldn't be making your own financial decisions. You should be putting it into passively managed funds, or entrusting it to a licensed broker with instructions that preservation of capital is priority one.

There's losing your money, and then there's doing what Portis did. Your comparisons are not even close to apples & oranges.

[mooby]

Originally Posted by Schneed10

OK well you're naming two things that are EXTREMELY different than what happened to Portis.

Lehman Brothers exposed itself so greatly to the mortgage crisis that it sunk the entire ship, and that turned out to be reflective of disingenuous practices fostered by ignorance of the problem at the Treasury department under Bush. So yeah lots of smart people lost money on that deal because the oversight was lacking.

Portis flat out gave his money to a con man, like Madoff. But the guy Portis gave his money to couldn't boast credentials like former chairman of the NASDAQ, like Madoff could. If you can't tell the difference from the jump then I'd suggest you shouldn't be making your own financial decisions. You should be putting it into passively managed funds, or entrusting it to a licensed broker with instructions that preservation of capital is priority one.

There's losing your money, and then there's doing what Portis did. Your comparisons are not even close to apples & oranges.

To be fair Portis' money managers were both certified/qualified by the NFLPA. It raises an interesting point about the NFLPA's vetting process though.

[Giantone]

Originally Posted by Schneed10

OK well you're naming two things that are EXTREMELY different than what happened to Portis.

There's losing your money, and then there's doing what Portis did. Your comparisons are not even close to apples & oranges.

Maybe but the point is the same.People ,smart educated people lose money as well as others do.Yes maybe in different ways .Portis trusted someone else with his money just as these people did.

[Schneed10]

Originally Posted by Giantone

Maybe but the point is the same.People ,smart educated people lose money as well as others do.Yes maybe in different ways .Portis trusted someone else with his money just as these people did.

All of it. As in he had millions to his name, and he trusted one guy with all of it.

Putting all your eggs in one basket is definitely something you're taught not to do in high school.

[Giantone]

Originally Posted by Schneed10

All of it. As in he had millions to his name, and he trusted one guy with all of it.

Putting all your eggs in one basket is definitely something you're taught not to do in high school.

Because it was that one man's job.My point has been made.

[insane4theskinsi]

i just hope he can live a long life and not end up with cte like so many other former football players.