Mark Cuban starts a new hedge fund…
Posted on December 1, 2004
Filed Under Business |
Mark Cuban, billionaire owner of the Dallas Mavericks, has decided to start a new ‘Hedge Fund‘.
I’ve decided to start a new hedge fund. However, this hedge fund won’t invest in stocks or bonds, or any type of business. It’s going to be a fund that only places bets. A gambling hedge fund.
Kinda cool.
This reminded me about the story of those MIT mathletes who took Vegas for millions back in the 90’s with their Blackjack system…a great read.
And the syndicates in Hong Kong who take a similar approach to Horse racing, tracking 100’s of data points related to horse and track form…apparently it works for them and returns over time have been consistently in the order of 24% per annum.
Oh, and then there’s the sports betting arbitrage sites like this one, which automatically troll the major sports betting sites looking for arbitrage opportunities for risk free profit…seems to me like you’d have to work pretty hard at it to make a living, but there you go.
Personally, I am not much of a gambler in casinos or on the stock exchange…my money isn’t smart enough! I’d rather invest it in building a business or in a business I was close to.