Gambling away your mutual fund savings (1 Viewer)

[spodog]

Nevada passes a law allowing a Sports Betting based Invesment Fund to take people's investment dollars and give them to a 'portfolio manager' who will then use the funds to place bets at Nevada sports books. This state legislation is the enabling law to allow a company called Better Investments, which plans to open up offices around the country to funnel money to Reno to be invested.

"we need to get people to understand that this is not gambling, it is an investment"

- Matt Stuart, founder of Better Investments

What could possibly go wrong?

Link to Forbes article: link

Audio interview with Stuart: link

 

[Mr. Pickles]

It's a game of skill!

 

[ghostguy123]

I think I will throw some money in, few hundo, see what shakes out.

Cashing out as soon as it doubles though

 

[[icon]]

Now we know what Eminesence has been up to

 

[Foosball God]

Does it have guys like Assani betting on the games, or guys like Otis?

 

[ffldrew]

What is different than the gambling that takes place now . I'm sure that during the 2008 stock market plunge I could have come out better "gambling" it than letting the crooks on Wall Street play with it in.

 

[RedmondLonghorn]

Caveat Emptor

 

[Raider Nation]

After the year I've had in the market, I might as well risk it all on a 5-team parlay anyway.

 

[El Floppo]

Caveat Emptor

new mutual fund? sounds promising.

 

[mquinnjr]

Will be interested to see what the management expense ratio will be on these funds.

 

[Raider Nation]

Will be interested to see what the management expense ratio will be on these funds.

It's similar to the Steve Stevens plan. We win, you get 15%. We lose, you eat all of it.