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Mark Cuban

👤 Person
3319 total appearances

Appearances Over Time

Podcast Appearances

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Well, shit, yeah.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Now I can put my money where my mouth is.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

I hedged it, yeah.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

So it was a public, when we got sold to Yahoo, we were a public company who paid us in stock.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

And because Yahoo also was a public company, you could sell options on it.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

So I could sell calls, which gave up part of the upside, but allowed me to buy something called puts, which protected my downside.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

And so I sold calls, bought puts, that's called a hedge.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

And I did it for my entire position.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

And when the whole bubble burst for the dot-com era, I actually made more money.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

And so, yeah, it's been called one of the top 10 trades of all time.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Because there were a lot of people who made a lot of money in stock and on paper and just thought I'll disappear.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Yeah, you wouldn't know who I am.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Which is great for a 29, 30-year-old.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

But it's not billions.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Yeah, he didn't care about basketball.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

It was a real estate deal for him.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

But I was a season ticket holder, and somebody connected me, and in less than a month, I bought it.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

Unless my kids have something.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

My son is becoming more and more.

Habits and Hustle
Episode 485: Mark Cuban: Why Most Entrepreneurs Hire Wrong (And Go Broke)

So my daughter, my middle daughter likes it.