The Wilpons and their partners at Sterling Equities currently are
being sued by Irving Picard, the trustee seeking to recover assets on
behalf of victims of Bernard Madoffs ponzi scheme. Did they know whats
was going on? Were they in on the plot? Or were they just victims like
everyone else? If they were in on the fraud they shouldnt just have to
pay back the money but should also go to jail. Since no criminal charges
are being filed then none of the money should be returned either. Since
the precedents of Barbara and Carl Shapiro were set it looks like they
too will have to pay back a portion of the $48 million they allegedly
made and as a result sell a portion of their stake in the New York Mets.
Because of the Laws that help Irving Picard and the precedents that
were set they will most likely have to pay back most if not all of the
money they made, to pay back the people that didnt know when to pull out
their profits. Like Jim Kramer says bulls make money, bears make money
and hogs get slaughtered. This might be awful to say to someone that
lost their live savings but the truth hurts and you dont put all your
eggs in one basket. I'm sure Bernies scheme was the only one these
people could have invested into (HAHAHA) diversification is key to any
sound portfolio (and these last statement is no joke).
On a brighter note my picks from yesterdays basketball action netted a profit.
Nets Covered the spread and as a result I hit one of my parlays and the $100 on put on them plus the 3 points.
Mavs and Wizards went under.
The
magic and grizzles couldn't just score a half a point less, if it were
possible. They ran up the total to 197. I had the total at under 196.5.
It happens, thats why half points cannot be underestimated and keeping a
level head is key.
BTW todays picks 2/1/11
Hornets vs Wizards under 190 risking $110 to win $100
Boston -6 risking $110 to win $100 (hope I'm not getting trapped)
Spurs vs Portland under 189.5 risking $110 to win $100
If you are reading this thank you, this is my first posting.
What is sports handicapping? Is it gambling, an addiction, a profession,
hobby, or the next big thing in the financial markets? I think its the
latter. I have gone through all the downfalls and have come to realize
with some sound judgment, time and effort this can be a profitable
proposition. Just like any sound money manager avoiding risk as much as
possible is key. This is where most handicappers fail and become bettors
chasing the next lock or "sure thing" when in reality as we all know
there is no such thing as a sure thing. Obviously, in addition to having
good money management skills it also helps knowing a thing or two about
sports and knowing which stats are important in order to make the right
investments aka bets.
With the success of Billy Walters ( watch a 60 minute special to realize
the genius of this man) and new startup hedge fund Centaur Galileo
Sport Fund it looks like there is a movement towards this and
profitability can be achieved. Staying in the black can only become a
reality if you correctly pick the winner 52.38% of the time because of
the vig.
My goal is to become a professional sports financial analyst while
taking you along for the journey and hopefully keeping you entertained
along the way with some of my views on whats going on currently in the
sports world.
BTW todays picks: 1/31/11
NJN +3 risking $110 to win $100
Parlay: NJN moneyline +$135 and the under NJN VS DENVER 205.5 risking $50 to win $174.32
Parlay: NJN moneyline +135 and over NJN VS DENVER 205.5 risking $50 to win $174.32
Here I'm hedging myself either the game goes over or under aslong as the
NJN cover I break even. If they win outright I win one of my parlays
plus the $100 I had on them with the spread. Only downside is if the NJN
dont do there part.
Magic VS. Grizzles under 196 risking $110 to win $100
Mavericks VS wizards under 195.5 risking $110 to win $100