I just like the Ben Franklin avatar...call me a collector of fine art and shoeboxes.
Again, in your pursuit to attack you missed my point. Many players are lured into bad investments bys suspect investors. A good agent would steer a player clear from those kind of people. I don;t pretend to be an investment specialist. What I do contend is that I kinow a rip off when I see it. I know who I to trust to invest. Yes I have a lot to learn. But at least I know where I stand. I assume you will have some pithy retort and that is fine. However, if my motive was to take advantage of unsuspecting athletes, why would I be on this site? Sneaky agents are just that, sneaky. They would not dare enter a blog and masquerade as someone who cares. I am not asking for anybody's business. Just getting a polite response from somebody is sometimes a chore on this site. But since you obviously need to vent your frustration on somebody, go ahead and vent on me. If it makes you feel better than at least I will have contributed something.
quote:What I do contend is that I kinow a rip off when I see it. I know who I to trust to invest.
If a client got ripped off by someone you recommended does this staement make you liable ?
It could because I have a fiduciary duty to my client.
I was thinking that the statement purports a special talent.
newagent - it's pointless to try and reason or discuss anything with you. I didn't attack you nor do I have a bit of frustration with anything. Not venting either.
You made a ludicrous statement regarding wealth/investments and I pointed it out. In your last post you mention stearing athletes clear of bad investments. With your comment about Buffet you clearly aren't qualified to stear anybody in any direction with regards to investments.
Furthermore, 95% of all draftees don't have the minimum wealth to invest in a hedge fund. No adviser would recommend hedge funds for anything other than a small amount of someone's portfolio. Their expenses are very high and their quite risky as well.
Stick to getting your players as good a deal as they can upfront. Beyond that, get out of the way & send them running to a qualified cpa, investment adviser, and estate planner.
Not a knock or attack, just the truth.
You made a ludicrous statement regarding wealth/investments and I pointed it out. In your last post you mention stearing athletes clear of bad investments. With your comment about Buffet you clearly aren't qualified to stear anybody in any direction with regards to investments.
Furthermore, 95% of all draftees don't have the minimum wealth to invest in a hedge fund. No adviser would recommend hedge funds for anything other than a small amount of someone's portfolio. Their expenses are very high and their quite risky as well.
Stick to getting your players as good a deal as they can upfront. Beyond that, get out of the way & send them running to a qualified cpa, investment adviser, and estate planner.
Not a knock or attack, just the truth.
Never said I made investement decisions....ever...I know my role. It is obvious that you are frustrated. Otherwise you would not find our discussions "pointless." Therefore, I find your many of your postings dishonest. I know you disgree with my postings and that is fine. Quite frankly I think your ideas are naive. I am interested to see how you will change your tune in three years, once you see the big picture. Right now you don't and your postings and ill feelings support towards me support. I would respect your positions more if they were a true indication of your position. Until then, I will view your postings with a grain of salt.
Denisr400,
You have a pm if you haven't checked.
You have a pm if you haven't checked.
Very few of the draftees will recieve money warrenting an estate plan, tax planning, investment planning etc. As a CPA I know very few good investment planners who get excited over a client needing help investing 50k. Tax planning for a small signing bonus is not rocket science nor are there any magic tax saving investments (Just ask Westly Snipes).
I would not hire an inexperienced advisor, or anyone guy promissing to save you lots of tax dollars with special investments.
I would not hire an inexperienced advisor, or anyone guy promissing to save you lots of tax dollars with special investments.
quote:Originally posted by newagent:
Palm Beach is also home to some of the most well respected trust companies and hedge fund directors. As you know, that is the area that made Warren Buffet rich.
Good God dude - what are you talking about?
Seriously - what the heck are you talking about?
The person responsible for Warren Buffett's wealth - is Warren Buffett.
You are approaching babbling territory - IMO.
What about swampland and bridge futures?quote:Originally posted by CollegeParent:
Very few of the draftees will recieve money warrenting an estate plan, tax planning, investment planning etc. As a CPA I know very few good investment planners who get excited over a client needing help investing 50k. Tax planning for a small signing bonus is not rocket science nor are there any magic tax saving investments (Just ask Westly Snipes).
I would not hire an inexperienced advisor, or anyone guy promissing to save you lots of tax dollars with special investments.
I thought Buffett got rich from Cheeseburgers in Paradise and Margaritaville............????????????? 
I thought it was profits and franchising from the Old Country Buffett
quote:Originally posted by newagent:
One of the things I am learning about this site is the attempt to intimidate new posters or differing views. I must admit, at first I was intimidated. But as I read more of some of the intimidators' posts I soon realized that some of them really have no clue as to what they are talking about. And in my experience there is nothing more dangerous than clueless individuals who are armed with nothing more than intimidation. Armed with that knowledge, I am ready to soldier on, post to post, commenting, questioning, and criticizing those who seek only to post and never to research.
Thank you for this piece of advice, since I am a new member here also.
Respectfully yours,
drill
In my opinion any bonus over $500,000 may need some estate planning advice. Wesley Snipes was acquitted of all counts except one. Failing to file a tax return. Welsey surrounded himsell by unlicensed individuals and fired all of the ones who told him what he was doing was illegal
P.S.
Coach2709:
Please be careful with your postings as they will only further confuse some of the posters. As you probably already noticed, one poster has nothing intelligent to contribue other than weak responses to my postings. I know you will understand (others may not), but I am just being saracastic.
P.S.
Coach2709:
Please be careful with your postings as they will only further confuse some of the posters. As you probably already noticed, one poster has nothing intelligent to contribue other than weak responses to my postings. I know you will understand (others may not), but I am just being saracastic.
quote:Originally posted by newagent:
In my opinion any bonus over $500,000 may need some estate planning advice. Wesley Snipes was acquitted of all counts except one. Failing to file a tax return. Welsey surrounded himsell by unlicensed individuals and fired all of the ones who told him what he was doing was illegal
I agree with you, and it is just not about signing bonus but the money you may receive later on. This is important. But let's not compare our situation to Wesley Snipes. Most of our kids will never see that type of money, ever.
IMO, this is not what makes a good or bad advisor/agent and for those who have sat down with anyone will know that this is not an important as some other things in the beginning. You got to get there first before you can do the investing. The advisor/agent needs to identify those needs in the process. Most do not take care of the above. They have people that they will refer you to. I want someone for my son who is good at identifying talent and knows what he wants in a client. The same way we have options to do the same. The important thing is trust, you trust that person, then you trust the advice he gives you for your other needs.
Not to get off track, but that's why those PG tournies are important. Not just for the players but for all of the other people involved in the business. I know my son's agent and his partners make PG in Jupiter every year. There they are watching players just like scouts, trying to identify those that have talent that will get them drafted. They are at college tournies and college campuses all over the country. That's all they do, they don't bother with the other stuff. When I sit down with an advisor/agent I want to know what he sees in my player that is special, why he wants to represent him (yes I know he profits later on) why he thinks he is better than anyone else he could choose. It's not going to make a differnece if he can draw up son's will. That is not the first priority in the process.
BTW, surprised that you are a registerd FL agent yet have not attended a PG event. To do so may be very helpful in your endeavors. This is not a dig or an insult, just a suggestion.
quote:Originally posted by newagent:
P.S.
Coach2709:
Please be careful with your postings as they will only further confuse some of the posters. As you probably already noticed, one poster has nothing intelligent to contribue other than weak responses to my postings. I know you will understand (others may not), but I am just being saracastic.
Look I just made a simple joke so don't bring me into your squabble with other people. Just because you don't like it when people question your posts doesn't mean you can use mine to get back at them.
Here is some free advice - if you stay in here you will butt heads with other people. But as long as you are respectful then things work out.
I questioned your facts in the wood bats thread because you wanted to be all cryptic and vague. I tried to find facts on what you said in the thread but couldn't. If you put something factual on here you better have your ducks in a row because someone might know different than what you put OR if you put an opinion you better be able to accept criticism of it because not everyone will agree with it.
Just chill and have a good time in here.