The old guy who owns the Clippers basketball team decided to confide some racist comments to his girlfriend. In turn, she decided to record his every word. I don’t know what it is up with these people who are uber rich. They get used to everyone saying yes. So it comes as a surprise when somebody finally says no. And that somebody was the NBA. The NBA was like our policy is to not deal with complete idiots. You are going to sell the team.
The messed up part is he bought the team for 12 million in the 1980’s. And now he might sell them for 2 billion dollars. That would be really unfair if he wasn’t freaking old. I mean, there is only so much more damage he can do. One crazy thing about selling the team is he might not have to pay taxes. Another bastard move. Hopefully he spends it all on a one way ticket to his own private island
The straight dope:
As our society becomes more diverse then hopefully comments and actions like this will become a memory of the past. But from a money aspect all of us could use a closer look into how we pay taxes. The goal of tax should be to benefit society and ourselves.
Ever since Michael Lewis wrote his book “Flash Boys” everybody on Wall street has been on the offensive. This is because his book highlights another way smart people have figured out to turn the computer into an ATM.
People are concerned about front running. This is when you place an order to buy a stock but before it gets filled smart people with fast computers buy and sell the stock back to you at a higher price. This is a level of skimming that would even impress the mob.
Wall street argues computers have improved everything. Back in the day the price you got was horrible. Now, you can look forward to just getting screwed.
The straight dope: If you want to buy stocks, this is the system we got. Sure not everything is transparent, but at least we live in a place where things like this can be exposed. I’m going to still buy stocks, but at least I know where some of my money is going now.
Doesn’t it seem like we’re always in a bubble. The worst part is the experts say when the bubble pops it’s going to be really bad. They don’t tell you when or how bad. They just like to make sure if you’re going to buy stocks, then you might want to buy brand new underwear.
A stock market bubble is tricky because when you’re in it every moment is occupied by thoughts like this is great, I can’t believe my stock goes up every day and I’m out once I get all my money from the last crash. Not making that mistake again. Right.
Then there is the people who know there is a bubble, but are too afraid to jump in. So they sit on the sidelines with a face like they just discovered lemon for the first time. They warn stocks just can’t keep on going up. But every day they do.
The Straight Dope – Yes we are in a bubble. Best way to approach this is to dollar cost average until the thing looks like it is going to pop. Once you sell be happy with what you got.
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