Money in the Bank
Although hell might freeze over before the Yankee’s win another World Series, Derek Jeter’s hot streak continues…
Determined to get his last licks in before spring training begins, Jeter recently ejected Jessica Biel from a post-season fling and was seen rounding third with Gabrielle Union in the Bahama’s at Michael Jordan’s Sixth Annual Celebrity Invitational Golf Tournament. Among the highlights of the four-day event is a Texas Hold Em Poker Tournament.
Got Hijinks?
Fun and games aside, the annual tourney has raised big bucks for charity since its inception..and will be broadcast on ESPN in a few weeks:
The event kicks off on Wednesday, January 17th and will benefit several worthy causes, including the James R. Jordan Foundation, the Butch Kerzner Memorial Fund and Ronald McDonald Houses of North Carolina, as well as the charities of choice of the tournaments top competitors. The 2007 MJCI will be broadcast on ESPN on Thursday, February 15th from 9 to 11 PM (EST). Celebrity Golf
Jessica is up for grabs...Nat Rothschild are you listening?
Earn Your Legacy
Are you a bull or a Grabowski?
The Grabowksi’s
The term became a rallying cry for the Bears, who were proud of their blue-collar image in a blue-collar city.
“There are teams that are fair-haired, and those that aren’t so fair-haired. Some teams are named Smith, some Grabowski. We’re Grabowskis.”
-Mike Ditka, January 1986
1985 Chicago Bears Salaries
In this day of NFL players holding out and not accepting $18 million in guaranteed money, here is a refreshing look back at the salaries of the 1985 Bears starters. This was published in the January 10, 1986 Chicago Sun Times. According to the paper, signing bonuses and incentives are not included in these figures.
Offense
Jim McMahon, Quarterback, $600,000
Walter Payton, Running Back, $685,000
Matt Suhey, Running Back, $260,000
Willie Gault, Wide Receiver, $241,000
Dennis McKinnon, Wide Receiver, $100,000
Jim Covert, Left Tackle, $190,000
Mark Bortz, Left Guard, $90,000
Jay Hilgenberg, Center, $110,000
Tom Thayer, Right Guard, $160,000
Keith Van Horne, Right Tackle, $225,000
Emery Moorehead, Tight End, $200,000
Defense
Dan Hampton, Defensive End, $325,000
Steve McMichael, Defensive Tackle, $225,000
William Perry, Defensive Tackle, $138,250
Richard Dent, Defensive End, $90,000
Otis Wilson, Linebacker, $150,000
Mike Singletary, Linebacker, $200,000
Wilber Marshall, Linebacker, 250,000
Mike Richardson, Cornerback, $175,000
Leslie Frazier, Cornerback, $130,000
Dave Duerson, Strong Safety, $125,000
Gary Fencik, Free Safety, $275,000
Bears History.com
Big Hitters
We will wrap up our Barrrett-Jackson coverage with legends in pinstripes...
Mr. October electrified the assembled throngs at the Barrett-Jackson automobile auction this past weekend, even throwing in a few baseball bats gratis to anyone willing to pay up for his 1969 Chevrolet ZL-1 COPO Camaro.
The car brought $800,000...roughly equal to $5,755 for every strike out Alex Rodriguez had last season
But Reggie was not the only big hitter in the crowd
Classic Vintage: 1985 Bears
It would seem that half of the world wants to get into the hedge fund business
The other half wants to get in the wine biz
Porn star Savanna Samson’s wine was nice...and we are looking forward to trying Mike Ditka’s wines
2004 Mike Ditka Kick Ass Red
Produced by the Mendocino Wine Co. in California, this red had a plummy color and a briny aroma rife with notes of cherry and ripe berries. A fruity easy drinker, the wine still managed to pump some tannic muscle for structure. $50
Celebrity sells, whether it’s a new book, a line of percale sheets or a stack of non-stick skillets. Star power works with wine as well, as former Bears coach Mike Ditka is learning with his new line of wines. More than 800 people turned out at the Binny’s Beverage Depot in Highland Park recently to have their bottles signed by “Da Coach.”
“We had to cut off the line almost as soon as [Ditka] got there,” said Doug Jeffirs, Binny’s wine director. “And he came an hour early and stayed an hour late.” Chicago Tribune via 7 Cities Wine & Dine
Put on your dancing shoes...with the ‘85 Bears
Super Bowl Shuffle - video powered by Metacafe
48 Hours: Pinhooking
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Editors Note-We have been running into quite a few old friends recently, including this derelict who also happens to be one of the finest gaming analysts to ever haunt the buy-side. Two decades spent hanging out at the intersection of Wall and Broad can leave you a little warped...we assure you that Railbird is all of that and more.
We have half a dozen writers loaded into the starting gate...and are chomping at the bit to hit the lever...
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So you think the deal to buy Harrah’s Entertainment (HET-NYSE) at roughly 10x EBITDA and leveraging it up the wazoo takes a little chutzpah?
Try this one on for size: Pinhooking
A 19th-century livestock auctioneering term, in its current incarnation it refers to the practice of speculating on prime thoroughbred horse flesh. Normally the domain of oil-soaked Sheiks, European bon vivants and well-connected Kentucky blood agents, it is attracting attention from, you guessed it, hedge funds.
Typically, it involves taking a short-term lease interest of less than a year in promising weanlings and yearlings and then liquidating the position in public auctions and private sales. Taking the horse to the track is definitely not in the equation. It’s analogous to a ground-floor venture capitalist, who pukes his stake after the first or second round of mezzanine financing. Some syndicate operators are boasting of 30%-40% annual returns, all neatly uncorrelated with the public equity and bond markets.
Racy stuff, eh?
We’ll be your eyes and ears as the speculative frenzy swirls around the rolling meadows and white split-rail fences of Bluegrass country. This spring we might even attend a few auctions and drop a few bob at Keeneland…
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
Are You a Legend Yet?
Todd Deutsch...Tiger Woods...Roger Federer
These legends know how play their respective games
Will they someday be considered in the same league as Big Red?
We have chased a few fillies in our days...but don’t know much about thoroughbreds
But we have an insatiable appetite for all things financial...and devour information on emerging investment trends no matter how unconventional they might seem. Who thought buying a ‘Cuda fifteen years ago would be the equivalent of hitting the lotto?
If you are bored of sitting at AARP Roundtables join us tomorrow as we get schooled in a new class of alternatives....by a crafty Railbird
as underthecounter explores pinhooking
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fil-lies-A group or number of lively, high-spirited girls or young women.
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
The Eric Bolling Diaries: Life in the Pits
Did you read Part One of The Eric Bolling Diaries?
A Trader is Born
Ready for more?
There are many ways to skin a cat on the Street...traders approach things much differently than investors
What is your time frame?
Players on the Street are opinionated. Quants think they hold all the keys...Value investors mock their growth stock counterparts...analysts deride traders. Technicians ignore fundamentalists. They meet every day in the markets and place their chips. It can get a little hairy.
And split second decisions need to be made when you are trading size
Freezing up in the pits can be deadly ...
“For every winner there’s a loser. All these clichés work. But down there they’re not clichés,” Zawaski says about the trading pits, adding that fear is a constant on each of Chicago’s three exchanges. “I saw one guy about a year ago, froze on some order. Lost about a million dollars. A million bucks, just like that.” He snaps his fingers. “He froze. He froze for an hour. Once he missed [the trade] he realized, ‘I’m in shit. I’m in trouble.’”
Tom Baldwin/Hedging Stress
You better bring a little swagger to the game...if you don’t you are likely to get run over
Nobody wants to end up as roadkill.
Eric Bolling has figured out what works for him…
This is the second installment of our series…
The Eric Bolling Diaries
Part Two: Life in the Pits
Traders and market pundits often talk about the role of ego in trading...there is an old saying “no one is bigger than the market” How do you feel about this?
Generally, most of the good traders I know are confident people. I think you need the attitude “I am going to be right with this trade” to enter them. Then, you need the ability to say “hey, I was wrong” to get out the bad ones. And, that ability to say you are wrong and get out is the secret to making money. The problem is...you can’t teach that. That is why trading with charts helps you get out when you are wrong...even if you can’t admit it.
What did it take to get you started in the business?
I remember thinking...I really love this trading floor (CBOT) and the idea of being a professional trader but had absolutely no way of coming up with the $50,000 treasury bill deposit required at the time.
Why did you leave the pits in Chicago to come to New York?
I was only a summer runner in Chicago. I was trying to play baseball at the time and the 1:30 closes allowed me some flexibility.
How much money do traders need to get started?
I am not sure what the minimum is to be a floor trader. I think anyone can start trading with whatever they have. Just be aware that you can, and probably will, lose it. At least the first time around. So if you understand that trading is a two-way street, it will better prepare you for the one thing that torpedoes new traders...unexpected losses.
What contracts did you first trade?
My first trades were in the crude oil pit...I traded the Gulf war a a relative rookie, and what an experience that was. I only wish I had a few more years experience under my belt by then.
