..and what he makes of the current market, plus why he’d rather buy a pet rock over Bitcoin.
The way Cuban made all that he did – was he that got out – when everyone was getting in. Plain and simple. No lemming-like HODL for him.
Back in 1995, Mark Cuban and partner Todd Wagner created Broadcast.com, a multimedia behemoth providing streaming audio and video of live radio, TV and sports. They sold the company to Yahoo! for $5.7 billion (yes, “B”). Yahoo’s market cap at the time was about $130 billion. Yahoo’s market cap later reached almost $300 billion before crashing down to about $10 billion. An ingenious option trade Mark Cuban made allowed him to protect his billions, without paying any insurance premium. At the time he had 14.6 million shares of Yahoo traded at $95. Thus he had a market value of $1.4 billion.
The exercise of reading the above is it adds a bit of credence (concern) to the below from CNBC, where he says he’s heavy in cash yet again.
Billionaire entrepreneur Mark Cuban told CNBC on Monday that he’s holding much more cash than he normally does because he’s concerned about the stock market and U.S debt levels.
“I’m down to maybe four dividend-owning stocks, two shorts, and Amazon and Netflix. I’ve got a whole lot of cash on the sidelines,” Cuban said on “Fast Money Halftime Report.” “[I’m] ready, willing and able if something happens” to invest.
Mark Cuban Says Gold And Bitcoin Are Equally Useless – Part 1.