QB Mark Brunell Files For Bankrupcy

marques-8 · Post #1 » by **marques-8** » Fri Jun 25, 2010 10:46 pm

In his more than 15 years in the NFL, M Brunell has made more than $52 million dollars- due to a series of real estate investments gone bad, he now is filing for bankrupcy. Hopefully, prior to these investments, he did some wise and safe investments for his family.

Kerb Hohl · Post #2 » by **Kerb Hohl** » Sat Jun 26, 2010 5:07 pm

marques-8 wrote:In his more than 15 years in the NFL, M Brunell has made more than $52 million dollars- due to a series of real estate investments gone bad, he now is filing for bankrupcy. Hopefully, prior to these investments, he did some wise and safe investments for his family.

If you're filing for bankruptcy, wouldn't you not have "wise and safe investments" to fall back on?

Turk Nowitzki · Post #3 » by **Turk Nowitzki** » Sat Jun 26, 2010 5:59 pm

Might partially explain why he continues to keep playing.

El Duderino · Post #4 » by **El Duderino** » Mon Jun 28, 2010 8:44 pm

I never understand why athletes who have made millions upon millions of dollars invest any large amounts of money in ventures that come with potential high risk?

They are already super rich, invest the money in very safe ways.

emunney · Post #5 » by **emunney** » Tue Jun 29, 2010 2:37 am

Somebody probably convinced him that real estate was very safe.

El Duderino · Post #6 » by **El Duderino** » Wed Jun 30, 2010 3:20 am

emunney wrote:Somebody probably convinced him that real estate was very safe.

I'm far from a financial wizard and even i knew that real estate always comes with fairly high risk

bigkurty · Post #7 » by **bigkurty** » Wed Jun 30, 2010 4:58 am

emunney wrote:Somebody probably convinced him that real estate was very safe.

In fairness, over the years, real estate has always been a more stable investment compared to say the stock market however we just had the biggest real estate bubble in history possibly and many smart real estate investors lost everything so I can't judge him. Phoenix and Las Vegas were so hot for example and banks were giving out loans so easily here that almost every investor who was making made bank in those markets has lost almost everything. Hell the guy who who owned the sands in Vegas went from like the tenth richest dude in the world on paper at around 20 billion to worth about 150 million in a year or two. That is a lot of money to lose in 1-2 years. Big risks can reap big rewards and big losses.