I used to play poker a ton in high school. Almost every weekend. I enjoyed it, but I also didn't enjoy losing money. Since all of us were high schoolers, at most we would bet $10-$15 (sometimes $20 when we were feeling footloose and fancy free.)
So, I'm not much of a gambler. The only time I've been to Las Vegas was when I was 12 years old and I managed to sneak gambling a nickle at a slot machine. (PS, I'M SO REBELLIOUS.)
Mark Cuban, he's on another level. He apparently gambles $200,000 dollars. From the Wall Street Journal's blog:
Mark Cuban's foray into Facebook didn't last long.
The billionaire investor and Dallas Mavs owner sold his stake in the social network, less than a month after initially disclosing he had built a position in the company following its bungled initial public offering.
"I took my hit, my thesis was wrong," Cuban said in a CNBC interview. "I thought we'd get a quick bounce just with some excitement about the stock. I was wrong, and when you're wrong you don't wait, you just get out. I took a beating and left."
The article goes on to mention that Cuban bought 150,000 shares and that once he realized that Facebook going public wasn't exactly as awesome as it could have been, he got out before potentially losing more money.
But how much money did he lose now?
Oh, about $200,000.
"It was gambling money, to be honest with you," he said on Monday. "Any time you try to time the market, you get what you deserve. Sometimes you're right. Sometimes you're wrong. This time I was wrong."
Psssh, just gambling money, no worries! Cuban is pretty smart with this whole "business thing" (air quotes necessary) so I wouldn't fret too much over Cuban losing $200,000 in less than a month.
But if the Mavericks end up short-changing Deron Williams, there will be hell to pay.
(h/t to Ball Don't Lie)