Cuban Abandons Dreams of Sports Betting Hedge Fund

Is it any surprise to learn that Dallas Mavericks owner Mark Cuban thinks that the public markets are rigged against investors? The former founder of Broadcast.com was even threatening to launch a hedge fund to bet on sporting events, arguing that professional gamblers have better access to information than profession investors. The goal of the fund was to prove that the stock market was “more Ponzi scheme than efficient markets,” Mr. Cuban said when he announced the fund about a year ago. Now he says he’s happy that someone else has already moved on his idea--he doesn’t have time to pursue it anyway.
Cuban Pulls Bet on Hedge Fund [WFAA.com]

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