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Old 08-23-2013   #1
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Default Report: Terrell Owens suing former agent Drew Rosenhaus

http://tracking.si.com/2013/08/22/te..._a15&eref=sihp
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“Terrell trusted [Drew] Rosenhaus when he recommended that Terrell hire Rubin as his financial adviser,” Owens’ attorneys, Curtis Carlson and Chase Carlson of Miami-based Carlson & Lewittes, P.A., said in a statement to Yahoo.
“It is completely ridiculous that Rosenhaus would refer a five-time Pro Bowler to a financial advisor who has been accused of stealing from his clients in the past, whose college degree was in Exercise Science, and who was inexperienced. Rosenhaus should have steered Terrell away from Rubin, not toward him.”
Maybe someone can answer me this. Why do players trust investment bankers or anyone who plays the stock market with their millions? Can we agree that the risk of losing it all either from bad stocks or crooked investors is not worth the promissed ROA? Just put your money in some CD's and stay fat and happy. I dont get it.
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Old 08-23-2013   #2
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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http://tracking.si.com/2013/08/22/te..._a15&eref=sihp


Maybe someone can answer me this. Why do players trust investment bankers or anyone who plays the stock market with their millions? Can we agree that the risk of losing it all either from bad stocks or crooked investors is not worth the promissed ROA? Just put your money in some CD's and stay fat and happy. I dont get it.
You can invest SAFELY and make your 10-15% annual return, or you can look to double and triple your money quickly and lose it all. That's the difference.
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Old 08-23-2013   #3
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Originally Posted by Blake View Post
Maybe someone can answer me this. Why do players trust investment bankers or anyone who plays the stock market with their millions? Can we agree that the risk of losing it all either from bad stocks or crooked investors is not worth the promissed ROA? Just put your money in some CD's and stay fat and happy. I dont get it.
I don't disagree with that, but looking at it from the other side:

These guys aren't rocket scientists. Even smart people get caught in financial chicanery. These guys are coddled their whole lives, told they're the greatest thing since sliced bread, and then handed millions of dollars (some of them). The NFL and various mentors int he NFL community tell these guys to prepare for life after football and invest their money, but there doesn't appear to be any real assistance in that area. So these players lean on their closest advisors - in this case, his agent. In other cases, maybe they lean on their uncle to get them a good contract. There are predators out there looking for an easy kill, so to speak.

The smart ones invest in a ton of pizza delivery restaurants just months before pot is legalized.
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Old 08-23-2013   #4
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Originally Posted by Blake View Post
Maybe someone can answer me this. Why do players trust investment bankers or anyone who plays the stock market with their millions? Can we agree that the risk of losing it all either from bad stocks or crooked investors is not worth the promissed ROA? Just put your money in some CD's and stay fat and happy. I dont get it.
Because that doesn't make sense.

Especially when we're talking about the kind of money these guys have, managing their investments is a full time job.
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Old 08-23-2013   #5
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

I have been watching the program American Greed: Scams, Scoundrels and Suckers that's on CNBC. There have been people more educated and wealthier than TO and have been ruined financially. Some of these people are really good and the line didn't stop with the arrests of Sanford and Maadorf (possibly sp).

One of the interesting things to me is that many will pay the great dividends for a year and sometimes more and give the investors the confidence to invest more, then the advisors began to live really well while paying the old investors with some of the new investors money until the scheme crashes. Usually the only scammed investors that got some or all of their money back were those whose advisors were linked with reputable financial institutions who had their reputations on the line. But if these advisors are independent, those from the very wealthy, those who invest for their children's future education or retirees trying to live comfortably for the rest of their lives are sunk.

True, CDs are safe, but most investors want to make more on their money than 1 or 2 percent. What was safe years ago and someone could still get 6 or 7 percent in CDs and money markets no longer exists.
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Old 08-23-2013   #6
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Originally Posted by paycheck71 View Post
You can invest SAFELY and make your 10-15% annual return, or you can look to double and triple your money quickly and lose it all. That's the difference.


You can not say that "You can safely make 10-15% annual return" that is false or at the very least very misleading
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Old 08-23-2013   #7
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Originally Posted by StarStruck View Post
I have been watching the program American Greed: Scams, Scoundrels and Suckers that's on CNBC. There have been people more educated and wealthier than TO and have been ruined financially. Some of these people are really good and the line didn't stop with the arrests of Sanford and Maadorf (possibly sp).

One of the interesting things to me is that many will pay the great dividends for a year and sometimes more and give the investors the confidence to invest more, then the advisors began to live really well while paying the old investors with some of the new investors money until the scheme crashes. Usually the only scammed investors that got some or all of their money back were those whose advisors were linked with reputable financial institutions who had their reputations on the line. But if these advisors are independent, those from the very wealthy, those who invest for their children's future education or retirees trying to live comfortably for the rest of their lives are sunk.

True, CDs are safe, but most investors want to make more on their money than 1 or 2 percent. What was safe years ago and someone could still get 6 or 7 percent in CDs and money markets no longer exists.



I watch the show a lot and 9/10 there are many signs the investors should see well in advance that should tell you to run.
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Old 08-23-2013   #8
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

Unlike most of these "advisors" Jeff Rubin was registered with FINRA and has been since banned from the industry. He had numerous customer complaints and issues which are a matter of public record and TO or any invester should look up their "advisor" to see what issues they might have had in the past. Rubin's complaints date back to 2004
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Old 08-23-2013   #9
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

I guess I have my grandparent's attitude about these kinds of things. The old saying about "a bird in the hand is worth two in the bush " comes to mind.

If you're making millions, why risk it? Why not go to a reputable bank and keep it safe. How much freakin' money do you really need to live a good life? Why get greedy with something that you worked your ass of to earn with any kind of risk?

I just don't get the blind trust, I guess. If I ever had that kind of money, I'd be avoiding stupid purchase decisions and keep my money in several places backed by the FDIC.

And I'm sure there are a lot of pro athletes that do just that thing, but they are not sensational stories, so we never hear about them.
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Old 08-23-2013   #10
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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I guess I have my grandparent's attitude about these kinds of things. The old saying about "a bird in the hand is worth two in the bush " comes to mind.

If you're making millions, why risk it? Why not go to a reputable bank and keep it safe. How much freakin' money do you really need to live a good life? Why get greedy with something that you worked your ass of to earn with any kind of risk?

I just don't get the blind trust, I guess. If I ever had that kind of money, I'd be avoiding stupid purchase decisions and keep my money in several places backed by the FDIC.

And I'm sure there are a lot of pro athletes that do just that thing, but they are not sensational stories, so we never hear about them.



Sticking with FDIC insured products equals a guaranteed loss over time. Setting up a diversified investment plan isn't all that hard but at the end of the day you should fully understand what you own.

On the finra site it details a complaint against this guy by a "nfl athlete" where over 3 million of the clients total 3.5 million in assets was invested into 4 highly illiquid (meaning it doesn't trade much) equity names that's too heavy to anyone who is paying attention. Everyone in this case has blame
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Old 08-23-2013   #11
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

T Owens blew money like he thought it was a river of endless cash. Now its time to sue someone when the ride ends.
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Old 08-23-2013   #12
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

Quote:
Originally Posted by Blake View Post
Maybe someone can answer me this. Why do players trust investment bankers or anyone who plays the stock market with their millions? Can we agree that the risk of losing it all either from bad stocks or crooked investors is not worth the promissed ROA? Just put your money in some CD's and stay fat and happy. I dont get it.
Because vultures circle over those with new money and/or those uneducated on how to keep their money. And earning bank interest/CDs or putting it under a mattress is not the way to do it.
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Old 08-23-2013   #13
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Because vultures circle over those with new money and/or those uneducated on how to keep their money. And earning bank interest/CDs or putting it under a mattress is not the way to do it.
or just calls it pimpin' to make it easy.
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Old 08-23-2013   #14
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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T Owens blew money like he thought it was a river of endless cash. Now its time to sue someone when the ride ends.
While that may be largely true it looks like his advisor was pretty shady and doing stuff he knew was wrong to put more into his own pocket
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Old 08-23-2013   #15
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Because vultures circle over those with new money and/or those uneducated on how to keep their money. And earning bank interest/CDs or putting it under a mattress is not the way to do it.
Exactly. And you don't even have to put it under the mattress/CD's/bank interest to be safe. Greed comes into play here, where some of these athletes give their money to people who promise them ridiculous ROI that carries unreasonable risk.
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Old 08-23-2013   #16
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Because that doesn't make sense.

Especially when we're talking about the kind of money these guys have, managing their investments is a full time job.
Haha ok TK. I forgot that if you have millions you must risk it in the stock market or it goes away. Thanks for the reminder.
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Old 08-23-2013   #17
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Sticking with FDIC insured products equals a guaranteed loss over time. Setting up a diversified investment plan isn't all that hard but at the end of the day you should fully understand what you own.
Please explain. If I deposit a million dollars into an account insured by FDIC, it will be less than a million in the future? Even if I don't withdraw any of it?

All I know is that my in-laws are very conservative with their money. All their friends were multi-millionaires, but after the crash a few years ago, many of them no longer had over a million. Meanwhile, the in-laws never lost a penny through all of the financial meltdown.

What is the safest form of keeping your money that gives some return but prevents you from losing to the market?
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Old 08-23-2013   #18
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Haha ok TK. I forgot that if you have millions you must risk it in the stock market or it goes away. Thanks for the reminder.
Heck it takes quite a bit of time managing my measly pennies. I couldn't imagine being uber rich & mamaging it all myself.

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Old 08-23-2013   #19
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Please explain. If I deposit a million dollars into an account insured by FDIC, it will be less than a million in the future? Even if I don't withdraw any of it?

All I know is that my in-laws are very conservative with their money. All their friends were multi-millionaires, but after the crash a few years ago, many of them no longer had over a million. Meanwhile, the in-laws never lost a penny through all of the financial meltdown.

What is the safest form of keeping your money that gives some return but prevents you from losing to the market?


Think lowest possible stated returns if you are looking for the least amount of risk. Short term US govt debt and CDs.

Those low risk products do not outperform inflation over time and this your purchasing power erodes, real rate of returns will post a loss so even though you dont see the losses you lost. If your folks' friends held on to their portfolios without changing they would have made all their money back and then some, even more if they reinvested dividends.
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Old 08-23-2013   #20
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Default Re: Report: Terrell Owens suing former agent Drew Rosenhaus

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Haha ok TK. I forgot that if you have millions you must risk it in the stock market or it goes away. Thanks for the reminder.
If you have millions in which you don't have any current need for or in the next few years some of those funds should be invested in the market most likely
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