First, you use your fame to promote FTX even after I had explained a year ago that it’s worthless.
Then you, and all who listen to you, lose a fortune on it.
Then you go back on TV and argue for more government regulation.
Government regulation is what Bernie Madoff operated under. Harry Markoplos, with Junior high school mathematics, showed the SEC that for Madoff to get the returns form his trading strategy he would have to be buying more options on the Chicago Board Options Exchange than actually existed.
Did the government listen? Nope.
You and Tom Brady (spokesmen for FTX) are going to get sued into oblivion and the FTX indemnification is now worthless.
Buying a representation of nothing in hopes that somebody will one day pay you more for it, because they have an even stronger belief that somebody will one day pay them more for their nothing, isn’t investing.
Buy real stuff: businesses, intellectual property, real estate, antiques, guns, gold, silver, interest in businesses (equities), even fruit trees for God’s sake.
Foolish people invest (waste) their money on foolish ideas for “investments”. Nick, I would love to buy some of your property that you have offered, but I’m a home inspector in a down market at the moment…
Im not sure Brady will be held liable for much, or all the other actors and singers that promoted it.
They were just paid as spokespeople, probably didnt even know anything about it. I doubt they studied the fundamentals of the company.
-Unless I am mistaken…
Years ago, my friend, Super Bowl champion quarterback Joe Theismann did a commercial for a medical product. He got sued. The FTX victims may not win, but they are going to sue and that means Brady is going to incur defense costs.