Same guy called Turbo Greens going way up. https://blog.netmagnetism.com/2020/...ou-guaranteed-returns-of-34-upside-in-1-year/
Haha for sure. But 34% profit in a year is wild from an investment standpoint. It's less for the normal person that has to pay stockx fees though. But still even 20% per year is amazing. Idk I've just started looking at all of this a little different.
Good for Iverson. Smart contract. I knew he had the trust fund, didn't know he still gets $800k per year.
#Oregon Ducks pairs aren't the same without Puddles. https://sneakernews.com/2020/06/08/air-jordan-5-oregon-release-date-2020/
He was 26 and set himself up for $800k per year for life. Props to him or his agent for coming up with that.
Was going to bump a bunch of the "Oh wow he must be broke if he wants to keep playing" posts but the threads have been archived.
dyk: The more recent version of the duck logo was created specifically because the older (disney) Duck can't be sold on merch outside of Oregon? themoreyouknow.gif
wouldn't you be much better off taking a fraction of that $32 million and investing it over the course of 29 years? Taking half of that and averaging 3% return on investment would have netted him $37 million. Hire a good fund manager and he potentially cost himself tens if not hundreds of millions.
Sure but I don't trust a 26 year old me to not blow it. So many young kids end up broke bc they burn money they get in lump sums. Guaranteeing yourself $800k for life isn't a bad life.
These got down to 200 in my size on Stockx earlier, but all their damn fees had them over 240 total. Fuck that.
or he could be broke like countless others. The 800k is on top of the 37 million, right? That’s not too bad.
Sure, in a perfect world where all 26 year olds are responsible with money. In reality, it was probably a smart decision imo.
I take it personally bc of the bobby bonilla contract. Financially it was actually better for the Mets when you factor in time, but every year on july 1st or whatever the date is there is a story about how he just got another check from the mets
I hear you. And I get the perfect world time/money aspect of it. But when we're talking about kids in the their mid-20's, I don't think guaranteed money for life is ever a bad option.
not to side track this thread but he already was getting millions from the NBA. Instead of deferring the money so he couldn't have spent/lost it, he could have just as easily taken it up front and put in a trust that gained wealth. More I think about it, I don't blame him but this was unconscionable advise from his agent or manager at the time. Maybe they put money in the trust back then and the $32 million is what it's worth now, but if not he got screwed hard by the people advising him.
Right but it would still be coming in a lump sum at some point. It's like lotto winners that take the lump sum and then are broke in 2 years. In a perfect world people could get huge sums of money and invest it and be responsible with it but in reality very few actually do that. He already had huge lump sums every year from his NBA contract. Taking a small chunk of what he was getting and guaranteeing himself $800k every year for life was smart imo. Maybe not by the book, but in reality is was.
Its fucking ridiculous. I bought a pair for $160 and all said and done was $201 and some change. On the flip side I was looking at selling a pair Ive been sitting on for a while. They were gonna take about $200 in fees. Id rather sell them to someone else for the payout price or less than give them the fees.
am I just not affected by the fees? my most recent stockx purchase a couple of weeks ago: I bid $145, $4.95 processing fee, $13.95 shipping so $163.90 total
I think the last time I bought a pair from stockx, I wasn't paying online tax either, to that $20+ extra on a $200 pair felt like a bit much.
Prices on GOAT are almost always higher. I blame their format. Finding the high offer is much harder. You can't even do it on their website, only their app. So a lot of people just hit buy now.