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Protect your paper millions
- chwolfe 19y agoMark Cuban used a similar stragety after Broadcast.com was bought by Yahoo! to protect against a downturn in the stock market: "The basic worry that comes with having lots of money is no different from what worries everyone else. Whether you've got $100 or $100 million, you don't want to lose it. After we sold Broadcast.com, I hedged my stock with synthetic indexes, in case the market cratered in the six months before I could hedge my actual Yahoo shares. It cost me $20 million, but it protected what I had. Todd Wagner and I had a credo: "Pigs get fat; hogs get slaughtered."" Note: Obviously meet with a financial advisor if any of this actually applies to you.