If you are an insomniac sports fan like me, you have seen the Jimmy Johnson “Better Trades” infomercial. For the rest of you, Jimmy Johnson is the former head coach of the Dallas Cowboys and Miami Hurricanes. Jimmy is pitching an organization called “Better Trades” which vows to teach people how to make money fast (WARNING SIREN!) by day trading in the stock market.
How do they do it? You call Better Trades and they get you to come to a seminar. Once there, they show all these great testimonials about the training and then pressure you into signing up for the 2-day program, which costs somewhere between $2,000 and $3,000! Then at the end of the training they offer to sell you software and “insider subscriptions” that cost in the thousands!!
The only person who is actually going to make money at the end of this process is slick huckster Jimmy Johnson.
The next time you are tempted to take “investing” advice from a sports figure, here’s a valuable list of 25 athletes who went bankrupt to remind you that just because they are good at sports, doesn’t mean they should be running your portfolio:
25. Raghib “Rocket” Ismael- Notre Dame/Dallas Cowboys star; received the largest 3-year deal in football history, Estimated lifetime earnings: $20 Million
24. Scott Eyre- World Series champion, pitcher for the Philadelphia Phillies, Estimated lifetime earnings: $10 Million
23. Evander Holyfield- 4-time Heavyweight Champion of the World, Estimated lifetime earnings: $250 million
22. Jack Clark- MLB player since 1975, Estimated lifetime earnings: $20 million
21. Johnny Unitas- Hall of Fame quarterback, 3-time MVP, Superbowl champion, 10-time Pro Bowl selection, Estimated lifetime earnings: $4 million
20. Deuce McAllister- New Orleans Saint’s all-time rusher, 2-time Pro Bowl star, Estimated lifetime earnings: $70 Million (Note: Duece’s business went bankrupt though he personally stayed solvent)
19. Bjorn Borg-11 Grand Slam titles; former #1 men’s tennis player in the world, Estimated earnings: $4 million + $4 million in endorsements per year
18. Rollie Fingers-Hall of Fame pitcher, 3-time World Series champ; last played for the Milwaukee Brewers, Estimated lifetime earnings: $8 Million
17. Sheryl Swoopes- 3-time gold medal Olympian, 3-time MVP for the WNBA, first pro women’s basketball player, Estimated lifetime earnings: $50 Million
16. Scott Harrison- First Scottish boxer to gain the World Boxing Federation featherweight title, Estimated lifetime earnings: $5 million
15. Leon Spinks- Beat Muhammad Ali for the heavyweight title; Olympic gold medalist, Estimated lifetime earnings: $4.5 million over two fights
14. Dorothy Hamill-Gold medalist skater; America’s first darling Olympian, Estimated earnings: $1-2 million/year in endorsements
13. Lawrence Taylor- New York Giants MVP, sack leader, Hall of Famer, 2-time Superbowl champ, Estimated lifetime earnings: $50 million
12. Darren McCarty-Stanley Cup winner, 11-year Detroit Red Wings player, Estimated lifetime earnings: $10 million
11. Travis Henry- Starting running back for the Buffalo Bills, Pro Bowl selection, Estimated lifetime earnings: $20 million
10. John Arne Riis- Fullback footballer for Liverpool; last played for Roma Estimated lifetime earnings: $20+ million
9. Kenny Anderson- NBA all-star, last played for the LA Clippers Estimated lifetime earnings: $60 Million
8. Scottie Pippen 0 6 NBA championships with Michael Jordan, forward for the Chicago Bulls, Estimated lifetime earnings: $120 Million
7. Muhsin Muhammad- 2-time Pro Bowl champ, Superbowl record-holder, Carolina Panthers wide receiver, Estimated lifetime earnings: $20 million
6. Marion Jones- 3-time Olympic gold medalist, Estimated earnings: $7 million per year
5. Latrell Sprewell- Four-time NBA All Star; last played for the Timberwolves, Estimated lifetime earnings: $50 million
4. Michael Vick- #1 overall pick NFL Draft, 3x Pro Bowl QB for the Atlanta Falcons, Estimated lifetime earnings: More than $130 million
3. Dick “Night Train” Lane- 14 yr NFL vet, Hall of Famer, Oakland Raiders defensive back, Estimated earnings: $5 million
2. George Best- Euro Cup winner with Manchester United, one of the UK’s first celebrity footballers, Estimated lifetime earnings: $100 Million
1. Mike Tyson- Heavyweight Boxing Champion, Estimated lifetime earnings: $300-400 million
One Comment
Very well done – brief and to the point.