Financial Advice From A-Rod: Keep Money in US Short-Term Debt
Former baseball player turned businessman, Alex Rodriguez, has advised people to keep their money in US short-term debt if they want to avoid losing it. He believes that everything at the moment is still too expensive. A-Rod, as he is also known, first dabbled in investing in his early 20s, making a $48,000 down payment on a Miami duplex. Fast forward 20 years and he has culminated in a $250m deal for 20% of the NBA’s Minnesota Timberwolves. Rodriguez and his business partner, Marc Lore, plan to become majority owners by the end of 2023. They have also started VCP Ventures, which has taken stakes in several startups.
Key Takeaways:
– A-Rod advises people to keep their money in US short-term debt to avoid losing it.
– He first dabbled in investing in his early 20s, culminating in a $250m deal for 20% of the NBA’s Minnesota Timberwolves.
– Rodriguez and his business partner, Marc Lore, plan to become majority owners by the end of 2023.
– They have also started VCP Ventures, which has taken stakes in several startups.
It is essential to have a sound investment strategy and doing due diligence before investing in any business. A-Rod believes in investing in the best business with the best management team and paying a fair price. Additionally, people often overestimate their abilities, and investing requires hard work and surrounding oneself with the best people.
Related Facts:
– A-Rod was the No. 1 pick by the Seattle Mariners in the 1993 Major League Baseball draft.
– His 10-year, $252m free agent contract with the Texas Rangers in 2000 was the richest ever for an athlete at that time.
– Rodriguez sold a Miami duplex he bought in his early 20s for double and bought a fourplex, and so on.
Conclusion:
A-Rod’s advice to keep money in US short-term debt is essential as there are still many uncertainties concerning the economy. Investing in the best business with the best management team and paying a fair price is critical to successful investing. People often overestimate their abilities, and investing requires hard work and surrounding oneself with the best people.
