Chapter 90: The Cruel Reality
I didn't dare to go through the front door, nor did I dare to pick up my Humvee, because the security guards came to tell me that more than 100 journalists with various weapons were squatting at the door.
Christian? Leitner picked me up from the back door and sped away, but Lightner's car did have a radio broadcast about me. [Search for the latest updates.]
"From the bank's internal staff, Kwame? Brown is planning to borrow $480,000 from their bank, and if that happens, it would be the biggest debt ever owed by an active player in the NBA. Brown will enter the era of negative ...... ahead of schedule."
"There are a lot of sports stars who have lived a poor life after retiring because of their extravagant lives, but obviously there hasn't been a single player who has been in high debt so far, but obviously Kwame? Brown set this record! ”
"According to relevant sources, Kwame? Brown is using his own salary, contracts with Hummer, Nike, PepsiCo as collateral, if the loan is successful, Kwame? Brown won't have a penny of income in the coming year......"
Christian? Lightner turned off the radio, didn't look back, and said quietly:
"Kwame, do you know how many of the NBA players are bankrupt after five years of retirement?"
"There should be a lot!" I know a little bit about this, I have repeatedly seen NBA stars go bankrupt in the news in my previous life, Allen? Iverson, Scott? Pippen, Dennis? Rodman, Kenny? Anderson, Madman Sprewell, Anthony? Walker and other big-name stars had to file for bankruptcy.
"Someone has done a special statistic, about 6o%!" Christian? Leitner said lightly.
I was a little surprised that there was such a high bankruptcy rate!
"That's low among the big four professional leagues in the U.S., with 78% of NF1 players filing for bankruptcy protection within two years of retiring!"
See me surprised, Christian? Once again, Lightner broke a big story.
"I don't know why you borrow so much money, but I want you to be kind to every penny in your hands, we eat young, we may get a high salary in the heyday, millions, tens of millions, but there will always be a day when you can't play, when you are 4o years old and can no longer play, your income will become o"
"Do you know of a website called Championship Ring Auction Network? They specialize in auctioning off championship rings from anonymous people, and I also saw a ring last year that the Lakers just got last year. ”
"Many football stars came out and said that they lost their rings, or that there was a fire in their homes and their rings were burned, and they basically sold their rings secretly......"
"It's brutal!"
I nodded!
"Then be frugal from now on, don't spend lavishly, save money for a rainy day!" Christian? Leitner said slowly.
"Your sparring partner Dennis? Rodman's career salary is estimated to be more than $100 million, but you know that he was sued by his ex-wife last year because Rodman owed his children $8o million in child support and $50,000 in breakup alimony, and he had to borrow money from his financial advisor to pay for this part of the expenses, and his finances were already very bad. Is Rodman's financial situation so bad because he is a gambler, and how much money he has in the casino will not be squandered? Bankruptcy is a matter of time......"
"Know Moses, the greatest high school student the NBA has ever had? Marlon? He is bankrupt, the reason why he is bankrupt is because he has too many illegitimate children, according to media reports that he has 7 illegitimate children, but this is a lie, if it is 17, it is about the same, which makes him have to play desperately at the age of 4o in order to be able to support his children, but as he gets older, there will be no more contracts, and he has to travel around various activities to earn that meager living expenses. It's pathetic! Isn't it? ”
"Don't believe those so-called financial institutions to help you manage your finances, they are too unreliable, there are so many investment companies on Wall Street, there are few that are really profitable, he will keep trading your funds back and forth to earn commissions, they don't care about you making money! Know Scott? Pippen? Is that Michael? Jordan's former partner in the Bulls, he handed over the funds to a financial institution to take care of on his behalf, but as a result, the "investment failed", and the $250,000 was gone, and now he is a lot older and still has to play desperately to support his family! ”
"In terms of investment and finance, you don't want to buy and sell frequently, you have to understand that you have to pay all kinds of taxes and fees for every transaction, you are optimistic about a company, you are optimistic about their exhibition, you will invest in it, participate in the management and operation of the company, as long as the company is healthy, he will provide you with profits for a long time."
"Know Warren Buffett? He is now one of Wall Street's most famous investment experts, and his philosophy was to be bullish on a company, and now he is in a crisis, and the stock is plummeting.
But there is a lot of potential. A little push can make a lot of money. He bought all its shares and used various methods to improve its operation. To put it bluntly, it's like a store outside that is not doing well and is transferring, you have the means to transfer it cheaply, and then transfer it at a high price after the business is up. Based on his philosophy, he successfully invested in companies such as Coca-Cola, Gillette, and American Express. ”
In 1999, the U.S. stock market was a big bull market, the Standard & Poor's rose 21%, but Buffett lost 2o, but he did not rush to sell his stocks, did not change those so-called Internet technology stocks, 2ooo years when the Internet bubble, when the stock market plummeted, Buffett's company Berkshire Investment Company was profitable ......"
Christian? Lightner drove and opened a small stove for me.
Christian? Leitner has never taken a new contract in his life because of injuries, and he certainly doesn't make as much money as Scott? Pippen, Dennis? Rodman and others make a lot of money, but Christian? Leitner is a very good financial concept, in 2oo5 when the Heat was ready not to renew his contract, there were rumors that he was going to buy the Heat, fortunately, the Heat was not bought by him in the end, but the Memphis Grizzlies stock was secretly bought by him, became the owner of the Grizzlies, and he is also a shareholder of a football team.
I admire Christian? Leitner, he's a bit of a good fortune, although his nightlife is a little bit richer.
"After the league, find a university to sign up, recharge, and learn how to manage money, which may help your investment!" Christian? Leitner said.
"Which university to go to?" I asked
"I went to the University of Washington, I signed up for a night school, I go every summer, and I'll sign you up this year!" Christian? Lightner said without a hint of it.
"Thank you! Christian! "I thank you from the bottom of my heart.
Home, Christian? Leitner put me down and didn't get out of the car to continue discussing with me about investing and financial management, but I was already convinced by him. This is a real person with a long-term vision. I will benefit from it for the rest of my life.
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