Investors in the Waddell & Reed fund are suing Waddell & Reed

[Kigali]

Poor old Al Haymon is stuck deep in dung with no way out.

Keep those stumpy little fingers crossed...you pale maggot.

[Dr Rumack]

If PBC went bankrupt, HBO exited the industry, and Arum kicked the bucket, there is a slim chance the sport might recover its sanity.

[Mitchell Kane]

Paul Gift @MMAanalytics Jan 30
The Waddell entity that invested into Haymon Holdings LLC appears to have $99.8M value as of 12/31/16. Down $825M overall (-89.2%). Ouch.

[.:: JSFD26 ::.]

Paul Gift @MMAanalytics Jan 30
The Waddell entity that invested into Haymon Holdings LLC appears to have $99.8M value as of 12/31/16. Down $825M overall (-89.2%). Ouch.

We know of the losses but what's of this lawsuit?

Any progress?

[.:: JSFD26 ::.]

oh well haymon had a good run...oh wait no he didnt

His run was as good as GRJ's. Utter garbage.

[Eff Pandas]

Paul Gift @MMAanalytics Jan 30
The Waddell entity that invested into Haymon Holdings LLC appears to have $99.8M value as of 12/31/16. Down $825M overall (-89.2%). Ouch.

People love to throw out these PBC numbers, but I'd love to see the actual breakdown or just some serious speculation & interpretation of the expenses, revenue & what assets they might still have with infrastructure that was purchased like that giant ass thing above the ring or jets or what have you by pundits, reporters or knowledgable fans.

Cuz honestly I've tried doing that myself & idk how they spent $800+ million, assuming those numbers represent what most would suspect they represent but maybe investment firms don't consider things like the average person would.

[lizard_man]

People love to throw out these PBC numbers, but I'd love to see the actual breakdown or just some serious speculation & interpretation of the expenses, revenue & what assets they might still have with infrastructure that was purchased like that giant ass thing above the ring or jets or what have you by pundits, reporters or knowledgable fans.

Cuz honestly I've tried doing that myself & idk how they spent $800+ million, assuming those numbers represent what most would suspect they represent but maybe investment firms don't consider things like the average person would.

all it means is that 825 million left waddell & Reed's bank account into Haymon's account. we don't know how much Haymon has actually used.

[IMDAZED]

People love to throw out these PBC numbers, but I'd love to see the actual breakdown or just some serious speculation & interpretation of the expenses, revenue & what assets they might still have with infrastructure that was purchased like that giant ass thing above the ring or jets or what have you by pundits, reporters or knowledgable fans.

Cuz honestly I've tried doing that myself & idk how they spent $800+ million, assuming those numbers represent what most would suspect they represent but maybe investment firms don't consider things like the average person would.

Of course it doesn't make sense to think they spent $800m. Remember when the Reddit guy last yr said they were down to $80m? And everyone was on his d*ck?

Most of the guys quoting these financials really don't have any idea what they're reading.

They don't realize these funds are fluid, and that money gets moved around.

They don't realize that there is usually more than one company in a single holding.

The list goes on.

So now we're down to $99m. Last year it was $84m. Next year it'll be $114m.

[Eff Pandas]

all it means is that 825 million left waddell & Reed's bank account into Haymon's account. we don't know how much Haymon has actually used.

I've heard different people say different things, but I've heard nothing of what Waddell actually considers or doesn't consider when they are valuing an asset like PBC in this case.

You could very well be right, but I've heard so much from randoms who don't know sh^t about this sorta thing saying everything from one side to the other side that I have no faith in what any of them are saying.

[OnePunch]

all it means is that 825 million left waddell & Reed's bank account into Haymon's account. we don't know how much Haymon has actually used.

Yes and no. According to the resident expert on everything in the world of boxing (originalzero), waddell owns all or part of Haymon Sports, so even if the money was transferred from Waddell to Haymon, the respective value of that cash siting in Haymons account would still be reflected as an asset in the funds valuation disclosure.

No different than if a fund spent $100 million on shares of Google. Sure, the fund no longer has the $100 million cash on the books, but they do have the valuation of the current share price of the shares they bought.