Mark Cuban

I'd see the stock, they say something, the stock would go up 20 bucks. Right. So I'm like, well, and my broker was like, you need to, you know, this better than they do. You need to invest. So I started buying and selling stocks and this was in 1990 and was just killing it.

I was making 80, 90, a hundred percent a year over those next four years to the point where guy came in and asked to use my trading history to start a hedge fund. which we did, and I sold within nine months. It was great, right? But the point being, as it goes forward, so when we sold to Yahoo, I already had a lot of experience trading stocks.

I was making 80, 90, a hundred percent a year over those next four years to the point where guy came in and asked to use my trading history to start a hedge fund. which we did, and I sold within nine months. It was great, right? But the point being, as it goes forward, so when we sold to Yahoo, I already had a lot of experience trading stocks.

I was making 80, 90, a hundred percent a year over those next four years to the point where guy came in and asked to use my trading history to start a hedge fund. which we did, and I sold within nine months. It was great, right? But the point being, as it goes forward, so when we sold to Yahoo, I already had a lot of experience trading stocks.

And I had seen different bubbles come and go, a bubble for PC manufacturers, a bubble for networking manufacturers. They went up, up, up, up, up, and then they came straight down after the hype, or somebody just leapfrogged them. And so when we sold to Yahoo, I was like, I've got to be next to my name. That's all I need or all I want. I don't want to be greedy.

And I had seen different bubbles come and go, a bubble for PC manufacturers, a bubble for networking manufacturers. They went up, up, up, up, up, and then they came straight down after the hype, or somebody just leapfrogged them. And so when we sold to Yahoo, I was like, I've got to be next to my name. That's all I need or all I want. I don't want to be greedy.

And I had seen different bubbles come and go, a bubble for PC manufacturers, a bubble for networking manufacturers. They went up, up, up, up, up, and then they came straight down after the hype, or somebody just leapfrogged them. And so when we sold to Yahoo, I was like, I've got to be next to my name. That's all I need or all I want. I don't want to be greedy.

And I'd seen this story before where stocks get really frothy and go straight down. And I knew that because all of what I had was in stock, I needed to find a way to color it and protect it. So understanding stocks and trading and options and all that, my broker and I, we went and shorted an index that had Yahoo in it.

And I'd seen this story before where stocks get really frothy and go straight down. And I knew that because all of what I had was in stock, I needed to find a way to color it and protect it. So understanding stocks and trading and options and all that, my broker and I, we went and shorted an index that had Yahoo in it.

And I'd seen this story before where stocks get really frothy and go straight down. And I knew that because all of what I had was in stock, I needed to find a way to color it and protect it. So understanding stocks and trading and options and all that, my broker and I, we went and shorted an index that had Yahoo in it.

And so the law at the time was you couldn't short any indexes that had more than 5% of that stock in it, right? Of the Yahoo stock. And so I took pretty much 20 some million dollars, everything I had at the time, and I shorted the index.

And so the law at the time was you couldn't short any indexes that had more than 5% of that stock in it, right? Of the Yahoo stock. And so I took pretty much 20 some million dollars, everything I had at the time, and I shorted the index.

And so the law at the time was you couldn't short any indexes that had more than 5% of that stock in it, right? Of the Yahoo stock. And so I took pretty much 20 some million dollars, everything I had at the time, and I shorted the index.

Yeah. I mean, how much money do I need, right? Where other people were saying, oh, I think you can go up higher, higher, higher. I went on CNBC and I told them what I had done And they were like, and Yahoo stock had gone up significantly from the time I had collared. And one of the guys, Joe Kernan was on there. Don't you feel stupid now that Yahoo stock has gone up, you know, X percent more?

Yeah. I mean, how much money do I need, right? Where other people were saying, oh, I think you can go up higher, higher, higher. I went on CNBC and I told them what I had done And they were like, and Yahoo stock had gone up significantly from the time I had collared. And one of the guys, Joe Kernan was on there. Don't you feel stupid now that Yahoo stock has gone up, you know, X percent more?

Yeah. I mean, how much money do I need, right? Where other people were saying, oh, I think you can go up higher, higher, higher. I went on CNBC and I told them what I had done And they were like, and Yahoo stock had gone up significantly from the time I had collared. And one of the guys, Joe Kernan was on there. Don't you feel stupid now that Yahoo stock has gone up, you know, X percent more?

I'm like, yeah, I feel real stupid sitting on my jet. Yeah.

I'm like, yeah, I feel real stupid sitting on my jet. Yeah.

I'm like, yeah, I feel real stupid sitting on my jet. Yeah.

Oh, for sure, for sure. Yeah, and I'd seen it before, right? Like I just said. And so what I did was we put together a collar where I sold calls and bought puts. And as it turned out, when the market just cratered, I was protected. And, you know, over the next two, three years, whatever it was, it converted to cash, paid my taxes, et cetera. But it protected me.