Tito Trinidad bankrupt...

[ßringer]

Trinidad/Mayorga II.

Book it.

[Dr Rumack]

Puerto Rico is a good place to invest with their 4 percent tax rate. I dont know why PR is not a success like Singapore. instead they are riddled in debt

A lot of differences between Puerto Rico and Singapore. Low tax rate isn't going to make up the difference.

[jtcs1981]

Hahahaha what a complete idiot...

No sympathy for him wasting his cash.

The complete idiot is you who dont know what happened and still gives a ****** opinion.

If you would read the article, he did not throw away his money he was just too ****** to keep track of it and depended on his financial advisor which for some insane reason bought all bonds with the money. He has been retired long enough to at least know what's going on with his investments.

Tito is not a smart business man. He is a jibaro and one that will do exactly as he is told.

I read somewhere that Puerto Rico was worse than Detroit in term of being bankrupt

Only a idiot would buy those bonds. Trinidad should've got a real investor who wasn't a complete moron

PR cant bankrupt. The constitution does not allows it. PR bonds were the best thing to invest when they started investing. No taxes and PR never default. They pay all the time. The credit rating is due to the economy and the ****** spending.

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.

At least someone that knows what is up. Today newspaper are providing more detail. Mr Ramos answer and explain a lil bit. The investment were solid when he started. However, there are some tricky details to the story. The way Ramos moved around from UBS all the way to Popular Securities is not a good look.

[-MAKAVELLI-]

this news saddens me

[Jack Napier]

Trinidad/Mayorga II.

Book it.

this is might actually be viable since Mayorga is somehow STILL around milking those 2 Forrest wins from a decade ago

[Bigg Rigg]

I read somewhere that Puerto Rico was worse than Detroit in term of being bankrupt

Only a idiot would buy those bonds. Trinidad should've got a real investor who wasn't a complete moron

Puerto Rico is a ****ing mess! And Tito is an idiot!

[paulf]

So sad.

I remember a few years ago he forgave 500k that Don King owed him for Don's birthday and I thought "Damn, Tito must have saved his pennies"

[MaskedMurderer]

[The Gambler1981]

Always sad to hear stuff like that

[boliodogs]

This is extra sad to me because he was my favorite fighter. Usually ex fighters go broke because of foolish crazy spending. Trinidad was trying to be wise with his money and trusted the wrong guy.