NFL’ers Left Holding Ball on Hedge Fund Investment
by StockJockey
Friday, February 24, 2006 - 7:15 am
Two days after a group of NFL players sued an Atlanta-based money manager for refusing to let them withdraw about $15 million in capital, the Massachusetts officials joined the scrum, filing an administrative complaint against the firm, International Management Associates, and its CEO, Kirk Wright. Triggered by a complaint from a constituent who has $3.2 million sunk in IMA, the Secretary of State called for a number of remedies, including restitution. He’ll have to get in line though: Georgia has already frozen the assets of of the firm (which Kirk claims total about $150 million) and its three principals.
NFL Players Say Fund Fumbled [CNN Money]
Massachusetts Joins Inquiry [CNN Money]
Comments:
Top athletes today earn terrific salaries. Unfortunately, their poor education has no correlation with their financial success. My advice to these guys is that they should stick to the simplest of investment strategies - ie ones they too can understand. Although I am aware that many other people are not very financially savvy, the problem is that, unlike top athletes, they don’t have much money and hence they do not attract the attention of sharks and wise guys.
Posted by TraderView on 12/31/1969 at 03:00 PM
Page 1 of 1 pages
<< Back to main
