“There is a good reason why the market is going up … but I still think we have a head start, so I went for the money. “
It’s the outspoken billionaire Mark Cuban who gives an overview of “The Pomp Podcast” this week on how he approaches the summary investment climate.
The owner of the Dallas Mavericks said that before entering the relative money safety net, he had lost a “large sum of money” in his entertainment business. Fortunately for Cuban, its main assets, Amazon
, helped offset these losses, he said.
“In three years, in five years, the market will be higher than we are today,” said Cuban. “When we look back 10 years from now, there are going to be some amazing companies created, and having access to money, or having money, will give me an opportunity to invest in them. “
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For now, beyond simply transferring funds in the midst of the coronavirus pandemic, Cuban sees opportunities in both commodities and real estate. He didn’t go into detail on which products, but pointed out that large, dense cities had areas where bargains could appear.
“If you think you want to live in New York in the future, now is the time to buy,” he said.
Watch the full interview:
Cash was a good place to be in Thursday’s trading session with the Dow Jones Industrial Average
three digits, while the S&P
also struggled to break higher.