Haymon lost 430 million in one year!

[SeekDaGreat]

Wow. What the **** is going on? At what point do you pull the plug? On what planet did Al Haymon think he was going to monopolize a dying sport and turn it into a profit?

[Kigali]

Wow. What the **** is going on? At what point do you pull the plug? On what planet did Al Haymon think he was going to monopolize a dying sport and turn it into a profit?

don't be so gullible homeboy.

[El-blanco]

It was a terrible idea to begin with.

[Sugar Adam Ali]

No not at all. You are confusing two different issues.

The money Wadell & Reed, in this case IVY funds has invested in PBC and other investments is not Wadell's money... it is investor's money that Wadell & Reed is managing.

So...for example, 100 million in investments raised from investors, W&R let's say makes 1% on. Their earnings are only 1 mil. The company may only be worth 2 or 3... etc.

Ie the money you have in your bank.... is not your bank's money.... they only make money on loaning it out etc.

Hedge Funds and Mutual funds make money on management fees and performance fees on the money that they manage.

So W&R LOST not their own money per say, but their investor's money that they were managing for them.

Investors are claiming it was a fraudulent and unsuitable investment.

Those reports are ALL public filings and all legit.

(yes, I work in finance.)

I get all that.. My point is that PBC is less than 1% of the investors money. These guys manage a hundred billion+ and spent a few hundred million on pbc.. These investors have lost a lot more money with Waddell than was just invested in Pbc. These lawsuits may be legit, but it's not all of pbc's doing, PBC is just a small portion of what investors lost overall. Some boxing media try to act like it's all because of PBC, when in reality it's much more about Waddell making bad investments besides PBC.

[Lester Tutor]

Zach Arnold...roaming NSB just like many other writers...

[El-blanco]

I get all that.. My point is that PBC is less than 1% of the investors money. These guys manage a hundred billion+ and spent a few hundred million on pbc.. These investors have lost a lot more money with Waddell than was just invested in Pbc. These lawsuits may be legit, but it's not all of pbc's doing, PBC is just a small portion of what investors lost overall. Some boxing media try to act like it's all because of PBC, when in reality it's much more about Waddell making bad investments besides PBC.

I think the emphasis on this was that it was a terrible idea and investment. Other funds have lost as well but this particular one was an incredibly bad idea and stinks of collusion.

[Sugar Adam Ali]

I dont care who or what you are, losing over 400 million is gonna hurt. Making it a low percentage dont make it no less.

It's less than 1% so this lawsuit doesn't have a lot of legs against PBC.

[al-Xander]

$430,000,000 in one year. That's more than enough to make weekly fights.

12 months x 4 = 48 weeks

$430 million / 48 = $8,958,333 per week

[Sugar Adam Ali]

I think the emphasis on this was that it was a terrible idea and investment. Other funds have lost as well but this particular one was an incredibly bad idea and stinks of collusion.

Does stink of collusion,

But i don't think its a terrible idea,, there is huge potnential in boxing and could have easily been worth billions of dollars in the future. Unfornately the execution and strategy were wrong. The idea wasn't bad, just the management of it. Especially if you're only spending less than 1%, little risk but huge rewards in the grand scheme of things. PBC should have tried to be like UFC, instead it's the same old boxing politics just on a different channel

[al-Xander]

Making Lara vs Zaveck fights is a waste of investors' money.