Considering the News…
Mark Cuban is many things – owner of the Dallas Mavericks, a billionaire, a balding wannabe playboy, and a hopeless dillweed, but now he can even tack “outed white collar crook” to that list.
The SEC has filed a civil lawsuit against Cuban, accusing the friendless rogue of insider trading. Martha Stewart all over again, as apparently Cuban received some good info on a going-nowhere search engine company named Mamma.com back in 2004.
After swearing to conceal all knowledge regarding the worst-named company of all time, Cuban – to his credit – kept it on the hush for a whopping 8 minutes, when he called up his broker and yelled “SELL!” on his $750,000 in stock.
The unabashed scrub-monger who wastes millions each year on the overpriced salaries of washed up hacks was actually worried about losing a few hundred G’s on a stock. Wow. Now he faces SEC charges and potential jail time because of it, leaving us to conclude one thing – his stock in idiocy is recession-proof. Buy now!
On a related note, perhaps Cuban should have sought a little insider information on that Devin Harris for Jason Kidd trade, because that was a stupid investment if ever there was one.