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View Poll Results: Do you generally agree with Mark Cuban's remarks?
I largely agree with Mark Cuban on this topic. 11 84.62%
I largely dis-agree with Mark Cuban on this topic. 2 15.38%
Voters: 13. You may not vote on this poll

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Old 05-12-2010, 10:52 AM
 
23,088 posts, read 42,234,855 times
Reputation: 23555

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Seeking Alpha has a decent piece written by Mark Cuban, well known owner owner of the Dallas Mavericks, an NBA basketball team, owner of Landmark Theatres and owner HDNET cable system.

I agree with him that Wall Street no longer seems to be in the business of helping firms raise money to open or expand businesses.

The gist of Mark Cuban's remarks are in this one excerpt:

- My 2 cents is that it is important for this country to push Wall Street back to the business of creating capital for business. Whether it's through a use of taxes on trades, or changing the capital gains tax structure so that there is no capital gains tax on any shares of stock (private or public company) held for 5 years or more, and no tax on dividends paid to shareholders who have held stock in the company for more than 5 years. However we need to do it, we need to get the smart money on Wall Street back to thinking about ways to use their capital to help start and grow companies. That is what will create jobs. That is where we will find the next big thing that will accelerate the world economy. It won’t come from traders trying to hack the financial system for a few pennies per trade.
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Old 05-12-2010, 12:46 PM
 
Location: Nebraska
188 posts, read 246,033 times
Reputation: 286
Quote:
Originally Posted by Mike from back east View Post
Seeking Alpha has a decent piece written by Mark Cuban, well known owner owner of the Dallas Mavericks, an NBA basketball team, owner of Landmark Theatres and owner HDNET cable system.

I agree with him that Wall Street no longer seems to be in the business of helping firms raise money to open or expand businesses.

The gist of Mark Cuban's remarks are in this one excerpt:

- My 2 cents is that it is important for this country to push Wall Street back to the business of creating capital for business. Whether it's through a use of taxes on trades, or changing the capital gains tax structure so that there is no capital gains tax on any shares of stock (private or public company) held for 5 years or more, and no tax on dividends paid to shareholders who have held stock in the company for more than 5 years. However we need to do it, we need to get the smart money on Wall Street back to thinking about ways to use their capital to help start and grow companies. That is what will create jobs. That is where we will find the next big thing that will accelerate the world economy. It won’t come from traders trying to hack the financial system for a few pennies per trade.
Mark Cuban couldn't be more right on this topic. The average "investor" on wall street is now a day trader. Day Traders serve no purpose, they are basically gamblers and through their brokerage account they trade wall street like they were at a casino. The reason this system was put in place was so private citizens could invest in public companies without having huge sums of money, or for companies to sell shares to the public to raise capital and grow their business at an even faster rate than they did as a private company. There are still quite a few people, myself included, that use wall street and the purchase of stock in this method. But there is a growing number of "day traders" that think they can make a quick buck, and these people do nothing but hurt the system.
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Old 05-12-2010, 04:08 PM
 
233 posts, read 684,771 times
Reputation: 213
Hey Mark,

Instead of expressing your opinion on wall street which no one cares about, how about you actually try putting together a successfull basketball team. Your team just got eliminated in the first round of the playoffs how about you work on that?

But I see how your busy with this
Mark Cuban's HDNet partnering with 'Girls Gone Wild' - ESPN Dallas

No wonder your Dallas Mavs are stinkers
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Old 05-13-2010, 09:10 AM
 
5,410 posts, read 10,359,651 times
Reputation: 4493
Quote:
Originally Posted by MonkeyKid View Post
Hey Mark,

Instead of expressing your opinion on wall street which no one cares about, how about you actually try putting together a successfull basketball team. Your team just got eliminated in the first round of the playoffs how about you work on that?
Why? Who cares?

I mean really.

Only the knuckleheads who would waste some money on the tickets or some part of their lives watching the stupidity.

Sex Sells. After all, porn built the commercial side of the internet.

==============

Meanwhile -- back to the topic at hand.

Yeah, Wall St, Inc., etc. is just about looting the money.

Seems strange (but not really) that 401Ks, and other retirement such programs are not all allowed to be invested directly into small business by-passing the (unneeded) need for brokers and Wall Street, Inc.
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Old 05-13-2010, 04:41 PM
 
233 posts, read 684,771 times
Reputation: 213
Quote:
Originally Posted by Philip T View Post
Why? Who cares?

I mean really.

Only the knuckleheads who would waste some money on the tickets or some part of their lives watching the stupidity.


Sex Sells. After all, porn built the commercial side of the internet.

==============

Meanwhile -- back to the topic at hand.

Yeah, Wall St, Inc., etc. is just about looting the money.

Seems strange (but not really) that 401Ks, and other retirement such programs are not all allowed to be invested directly into small business by-passing the (unneeded) need for brokers and Wall Street, Inc.
You would think Cuban would spend more time investing his resources into his basketball team. Mind you, a venture he has already spent millions of dollars on. How much money has he spent on his crusade against Wall Street? Whether you dislike/like watching sports is a moot point. This is about Cuban sticking to what he is and that is a businessman and not a Wall Street watchdog.
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Old 05-16-2010, 01:16 PM
 
Location: Orange County, CA
3,545 posts, read 2,429,549 times
Reputation: 1968
Can't disagree with Cuban on this one. Does Wall Street even serve a useful purpose anymore????
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Old 05-22-2010, 01:08 PM
JL
 
8,114 posts, read 12,789,040 times
Reputation: 7629
Agree with him. Mark is a shrewd business man. He knows what he's talking about. He bought the Mavericks 10 yrs ago for $280 million and it is now worth $407 million.
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