PDA

View Full Version : Did you see Antoine Walker on 1st take?



nickdymez
10-02-2012, 10:44 AM
Did any of you watch that? I feel a little more sorry for him after hearing his story. I thought he lost all his money buying bling, but apparently he lost it investing in the housing market. He pretty much back all the loans instead of the bank (Which is still kind of dumb). If anyone has the link, please post.

dnewguy
10-02-2012, 10:54 AM
Did any of you watch that? I feel a little more sorry for him after hearing his story. I thought he lost all his money buying bling, but apparently he lost it investing in the housing market. He pretty much back all the loans instead of the bank (Which is still kind of dumb). If anyone has the link, please post.

pretty sad...we elect representatives that look out for a few and now we complain about jobs/debt. Don't tell me none of y'all did not know economic globalization means products will be made anywhere cheaper...and most of y'all jump on the capitalism bandwagon not knowing you're been sold a bill of crap. My mom also lost thousands in that mess...but politicians did not lose a dime (cough, cough Mitt Romney) they only got richer.

THE_FLASH_21
10-02-2012, 10:59 AM
What he said was 100% right... You can't be making big investments while your playing ball..

Nycbball08
10-02-2012, 11:07 AM
That's half the story, dude owes more money to the casinos than Vin Baker and MJ...lol

shep33
10-02-2012, 11:11 AM
What he said was 100% right... You can't be making big investments while your playing ball..

A lot of NBA players need to get this into their heads. I remember hearing Scottie Pippen's story of how he bought a jet and how it literally sat in the hanger for years. I'm pretty sure he purchased it as an investment. But I mean types of investments like that don't accumulate to anything.

Still amazing that all his money is essentially gone. Sad story, but this sort of thing happens everyday to people.

JordansBulls
10-02-2012, 11:19 AM
What's the point of making big investments when you already got 10+ million anyway?

wordup45
10-02-2012, 11:25 AM
What's the point of making big investments when you already got 10+ million anyway?

The rich always wanna get richer.

theducksmuggler
10-02-2012, 11:27 AM
^^^ really? when u have alot of money you have the oppurtunity others dont have by making huge investments...if they work out you get a **** load of money if they dont you still have money left but if u make to many dumb ones well then your ****ed

Nycbball08
10-02-2012, 11:28 AM
:clap:
The rich always wanna get richer.

D-Amazins
10-02-2012, 11:29 AM
Antoine Walker, From NBA To Broke

http://espn.go.com/video/clip?id=8452361

southeastjerome
10-02-2012, 11:29 AM
I'm glad he's broke because he's not very friendly. My mother in law and I were working the allstar game in Philly years ago. She was so happy to see all of the NBA elite players. We saw Motumbo on an escalator, she said hi and he shook her hand. When she walked up to Walker and said hi he turned his back on her. She was like "That was rude" lol. I really can't say what caliber of person he is but that day I became less of a fan of his. I remember seeing George Lynch in a tattoo parlor and he stood and talked to me for 10mins about the Kobe and Shaq fued. Just him giving me the time of day I rooted for him and the Sixers hard. Some times karma can come back to bite you in the butt. Now maybe Walker was really busy that day or maybe he's really an arrogant @#$$$%^&$. If he's really a nice guy then I feel sorry for him, if he's not it's Karma baby!

rapjuicer06
10-02-2012, 11:32 AM
This is why when you make investments, you only invest some of your money, not all of it. There is nothing wrong with putting it in the bank and collecting interest. Especially with how much money he had, no reason for it to all be gone. It's called stupidity and I don't feel sorry for people who had millions of dollars and are now bankrupt for trying to get richer.

kenzo400
10-02-2012, 11:35 AM
So he invested all of his money in the housing market? He made 109 million dollars throughout his career, he didn't think of making perhaps several different investments. If he had bought a couple of Mcdonalds he would still be well off financially.

akesh99
10-02-2012, 11:56 AM
It's called diversifying your portfolio. Anyone who puts all their eggs in one basket is asking for trouble. Either way, I've read tons of stuff about how he owes casinos money and how he travelled first class everywhere with an entourage of about 20 people. Any way you look at it, making over 100M and finding yourself broke before your 40th birthday is just plain irresponsible.

Corey
10-02-2012, 11:58 AM
That's half the story, dude owes more money to the casinos than Vin Baker and MJ...lol

Less than a million in debt to casinos.

He lived a more expensive lifestyle than he could afford. His gambling woes are always pointed at as the main culprit, but there were so many other factors that came into play with him going broke.

Poor investments, too much generosity with his family and friends, too lavish of a lifestyle.

Shame.

Gibby23
10-02-2012, 12:15 PM
Why would he make loans? He should have jus bought 20 houses all cash and lived off the rent. About $20,000 a month. He could have did that for under 3 million.

PleaseBeNice
10-02-2012, 12:23 PM
Feel bad for him? Right... Dude made hundreds of millions in his career. This is his own fault. No remorse from me

The goods
10-02-2012, 12:42 PM
He looked sick as a dog.

bagwell368
10-02-2012, 12:45 PM
Less than a million in debt to casinos.

He lived a more expensive lifestyle than he could afford. His gambling woes are always pointed at as the main culprit, but there were so many other factors that came into play with him going broke.

Poor investments, too much generosity with his family and friends, too lavish of a lifestyle.

Shame.

My 1/2 brother made about $50M between 1980-1990, and did an awful job handling it. He's 65 now, still hustling, but, he lives in an apartment, owns nothing, and has no retirement savings.

I made vastly less but got the right folks watching my money. I'm not rich, but I'm not going to eat cat food when I'm 73 years old either.

I thought teams took guys aside and set them up with good investments brokers? If not, they should. The gravy train doesn't go forever.

The goods
10-02-2012, 12:45 PM
I don't feel sorry for millionaires that lose all their money by blowing and buying over priced objects like that, sorry.

And he's blaming the recession? You don't know what a recession is, give me a break.

Hellcrooner
10-02-2012, 12:49 PM
Wonder who advised him to put all the money into the same thing, is pretty dumb.

If i were to win lotto tomorrow and get a good bunch of euros i would only invest HALF of it and leave the other half just collecting interest from the bank(banks actually i would split it into 4 or 5 different SOLID banks just in case).
And the half i invest i will make sure to diversify in at least 6 different kind of things, and probably in different countrys.

NYY09
10-02-2012, 12:55 PM
What's the point of making big investments when you already got 10+ million anyway?

Well, it all depends on life style. If you're spending over a mill a year then 10 mill isn't all that much, and everyone knows the spending habits of pro athletes.

nickdymez
10-02-2012, 01:06 PM
I don't feel sorry for millionaires that lose all their money by blowing and buying over priced objects like that, sorry.

And he's blaming the recession? You don't know what a recession is, give me a break.

You do realize that we had a housing crisis in America and most of his investments were through real estate.

AddiX
10-02-2012, 01:18 PM
A lot of people lost all there money in real estate when the market crashed. Millionaires literally went from mansions and 10 cars to a 1 bedroom and a hoopty over night.

That had to be the fakest market of all time. It would be like investing every $ you ever earned in beanie babies. When the market bottoms out, you eventually realize, you own nothing of worth but a damn beanie baby.

The way people and companies were able to structure loans and mortgages made it incredibly easy to own WAY more property than you could ever afford if you had to actually pay for anynof it. Once it crashed, it was domino effect throughout the entire world.

Hence, why were now in recession. Very very smart people lost everything, so a rich uneducated athlete, was perfect candidate to lose everything.

AddiX
10-02-2012, 01:26 PM
My 1/2 brother made about $50M between 1980-1990, and did an awful job handling it. He's 65 now, still hustling, but, he lives in an apartment, owns nothing, and has no retirement savings.

I made vastly less but got the right folks watching my money. I'm not rich, but I'm not going to eat cat food when I'm 73 years old either.

I thought teams took guys aside and set them up with good investments brokers? If not, they should. The gravy train doesn't go forever.

It wouldnt matter what the teams did, the players managers and agents are a MAJOR player in getting these guys connected to there friends who want a piece of there $.

Quite frankly, a lot of these guys just make to much $ to even begin to have a clue what to do w it. They watch rap videos and want all thst stuff, and than some rich white men treat them as one of there own and say, invest in this, and that, and bam, Debt.

It's that easy..

LongWayFromHome
10-02-2012, 08:31 PM
He looked sick as a dog.

He always looks like that.

LongWayFromHome
10-02-2012, 08:31 PM
Can't wait for "30 for 30"s "broke"

BleedingGreen9
10-03-2012, 03:48 AM
I'm glad he's broke because he's not very friendly. My mother in law and I were working the allstar game in Philly years ago. She was so happy to see all of the NBA elite players. We saw Motumbo on an escalator, she said hi and he shook her hand. When she walked up to Walker and said hi he turned his back on her. She was like "That was rude" lol. I really can't say what caliber of person he is but that day I became less of a fan of his. I remember seeing George Lynch in a tattoo parlor and he stood and talked to me for 10mins about the Kobe and Shaq fued. Just him giving me the time of day I rooted for him and the Sixers hard. Some times karma can come back to bite you in the butt. Now maybe Walker was really busy that day or maybe he's really an arrogant @#$$$%^&$. If he's really a nice guy then I feel sorry for him, if he's not it's Karma baby!

saw Antoine after a open practice in Boston he was great signed everything i had talked to me about 10-15 mins told me to keep working hard and anything is possible than thankd me for being a fan. Till this day he is still one of my favorite players of all time. But it is he own fault for loosing all of his money you cant invest eveything you have you always have to keep money aside if it does not work out. + When he was talking about gambling and it did not happen till he had no money why are you gambling with money you dont have in the first place.

heyman321
10-03-2012, 03:54 AM
Louis CK 2012.

Chronz
10-03-2012, 02:29 PM
pretty sad...we elect representatives that look out for a few and now we complain about jobs/debt. Don't tell me none of y'all did not know economic globalization means products will be made anywhere cheaper...and most of y'all jump on the capitalism bandwagon not knowing you're been sold a bill of crap. My mom also lost thousands in that mess...but politicians did not lose a dime (cough, cough Mitt Romney) they only got richer.

To me its sadder that people think elections change that fate.

Chronz
10-03-2012, 02:29 PM
It's called diversifying your portfolio. Anyone who puts all their eggs in one basket is asking for trouble. Either way, I've read tons of stuff about how he owes casinos money and how he travelled first class everywhere with an entourage of about 20 people. Any way you look at it, making over 100M and finding yourself broke before your 40th birthday is just plain irresponsible.

Yes

JordansBulls
10-04-2012, 09:47 PM
The rich always wanna get richer.

Which is dumb if you have plenty of it already.