Thought this article on CNN's website was real interesting: A hedge fund based on slots? Cuban's new investment tool will literally gamble investors' money. December 1, 2004: 9:15 AM EST NEW YORK (CNN) - Billionaire Mark Cuban, who owns the Dallas Mavericks basketball team, has announced that he is starting a hedge fund that will literally gamble investors' money. In a letter dated Nov 27 on his Web blog, Blog Maverick, Cuban says he will hire the best and the brightest minds to bet investors' money, but not on stocks and bonds. Cuban says gambling on slot machines, black-jack or poker can earn better returns than betting on stocks. Cuban has yet to formally name the fund or file paperwork to establish it with regulators. Cuban made his fortune by co-founding Broadcast.com, one of the first well-known Web sites to put live broadcast feeds on the Internet. Cuban sold the company to Yahoo! for $5.7 billion in 1999. He bought the Dallas Mavericks for $280 million in 2000.
In yesterdays Dallas mourning newspaper Dallas mourning news had the story in their Tuesday paper. It was on the front page of the business section. Below is a link to the site. http://www.blogmaverick.com/entry/1234000570021684
More on Cuban's gambling fund This story resurfaced today in the LV Sun, with some meaningful quotes from Anthony Curtis... http://www.lasvegassun.com/sunbin/stories/births/2004/dec/08/517950425.html Meanwhile, Tx, do an unusually large number of people die each day in Dallas? I didn't realize they had a whole newspaper just for mourning!
