Tito Trinidad bankrupt...

[megadeth]

That makes Chavez Jr vs Tito more possible

I don't want to see this. Chavez hits too hard and Tito is too old. I would NOT want to see a scrub like Chavez Jr. beat Tito up. The Tito who fought Hopkins vs. the Chavez that fought Martinez...THAT I wouldn't mind seeing.

[CubanGuyNYC]

I happen to be a bond trader. So here are the facts.

1. He cant be bankrupt, because PR has not defaulted, nor have they missed any interest payments as of yet.

2. The actual article states he made that much during his career, not that this was his total investment.

3. His FA invested his money in PR Bond MUTUAL FUNDS not individual funds. Funds have to unload bonds when they fall below investment grade. Which only recently happened to PR. We dont know when the investment was made, it could have been 5 years ago or 10 years ago.

4. The vast majority of wealthy and ultra wealthy invest in muni's, due to the triple tax free status of the potential cash flow. It seems his FA had him overleveraged, but we don't know why. Maybe Tito requested certain annual cash figure requirements.

There is much more than meets the eye here, so its not easy to just say he is Banakrupt other than sensational news stories that sell papers.

The article leaves much to be desired. Immediately, the statement that Tito's bonds are "worthless" raises an eyebrow. I'm sure he's experiencing some financial turmoil, but it does appear the story is sensationalistic.

[CubanGuyNYC]

Never understood how someone could trust someone else with millions of their dollars.

I couldn't trust anybody with my money

The wealthiest people on earth rely on someone to manage their money, more money than any fighter ever even dreamed of. Some of their money managers are virtually a part of the family. You better believe those people keep an eye on their loot and the people charged with its care.

[IMDAZED]

That's terrible, man. Really disheartening to hear because Tito was a guy who did things the right way. A family friend? Sigh.

[MrRolltide91]

The wealthiest people on earth rely on someone to manage their money, more money than any fighter ever even dreamed of. Some of their money managers are virtually a part of the family. You better believe those people keep an eye on their loot and the people charged with its care.

I understand that, its just hard.

this dude was a family friend

[STREET CLEANER]

I happen to be a bond trader. So here are the facts.

1. He cant be bankrupt, because PR has not defaulted, nor have they missed any interest payments as of yet.

2. The actual article states he made that much during his career, not that this was his total investment.

3. His FA invested his money in PR Bond MUTUAL FUNDS not individual bonds. Funds have to unload bonds when they fall below investment grade. Which only recently happened to PR. We dont know when the investment was made, it could have been 5 years ago or 10 years ago.

4. The vast majority of wealthy and ultra wealthy invest in muni's, due to the triple tax free status of the potential cash flow. It seems his FA had him overleveraged, but we don't know why. Maybe Tito requested certain annual cash figure requirements.

There is much more than meets the eye here, so its not as easy to just say he is Bankrupt other than sensational news stories that sell papers and lazy journalism.

The bonds are simply not worth what he paid for years ago and he is in the red.

[racer59]

The bonds are simply not worth what he paid for years ago and he is in the red.

He didn't pay for bonds. He payed for individual shares in a mutual fund. It still has value and throws off tax free cash flow.

The link said "now-worthless government bonds" which is untrue.

Yes, he most likely is in the red. But drawing a straight line from being in the red to being bankrupt is not reasonable

[BattlingNelson]

Sad. Another great fighter cheated out of his money.

[RINGG]

Too bad! Wonder if Don King owes him any money?

[BattlingNelson]

That's terrible, man. Really disheartening to hear because Tito was a guy who did things the right way. A family friend? Sigh.

Never let friends or family handle your money. If you have as much as as Tito did, split the fortune in 4 and have 3 professional investors handle a quarter of the fortune and keep the rest as spending money for yourself.

Thats the way to do it if you have no idea of money and economics.