Warren Buffett Bets $1 Billion Against Your NCAA Bracket - News and Current Events | futures io social day trading
futures io futures trading


Warren Buffett Bets $1 Billion Against Your NCAA Bracket
Updated: Views / Replies:311 / 1
Created: by kbit Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Warren Buffett Bets $1 Billion Against Your NCAA Bracket

  #1 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,884 since Nov 2010
Thanks: 3,303 given, 3,334 received

Warren Buffett Bets $1 Billion Against Your NCAA Bracket

Warren Buffett and Quicken Loans announced Tuesday morning that they are teaming up to give out $1 billion to anyone who picks a perfect March Madness bracket.

That’s right. Anyone who can correctly pick all the games in this year’s NCAA tournament can quickly join the billionaire’s club, with their hoop dreams striking a small blow against rising income inequality and limited economic mobility.

“A billion dollars seems right for the impressive feat,” Jay Farner, president and chief marketing officer of Quicken Loans, said in a press release. But it’s also an awful lot of money for something that’s bound to be at least as much luck as skill – and offering that much money for college basketball picks is bound to strike some people as obscene.

Buffett’s Berkshire Hathaway is insuring Quicken Loans in case somebody wins. Of course, Buffett is nothing if not a savvy business guy, so the chances that he’ll have to actually pay out are slim – about 1 in 9.2 quintillion, or a slightly more appealing 1 in 128 billion chance for those with a bit more basketball knowledge. Any winner would be paid out in 40 annual installments of $25 million, or they could choose to take a $500 million lump sum payment. If, somehow, there’s more than one winner, the prize will be shared.

For those less confident in their bracket strategies, not to worry — Quicken Loans is doling out $100,000 each to contestants with the 20 most accurate brackets submitted. Though the prize money must be put toward buying, refinancing or remodeling a home.

Based on the early buzz, the promotion has already made for a successful marketing ploy. And Detroit-based Quicken Loans, the fourth-largest mortgage lender in the country, said it will be awarding some money — $1 million, with an “M,” not a “B” — to non-profit organizations “dedicated to improving the education of young Detroit and Cleveland residents.”

So Quicken Loans officials clearly know how badly inner-city Detroit has been ravaged. The city’s poverty rate is 38 percent — or three times the national rate, according to the latest Census Bureau figures. Detroit’s median annual income is $26,000, and more than half of the children living in the city are impoverished.

Perhaps Kevin Orr, Detroit’s emergency manager tasked with saving the city, should start filling out some brackets ASAP

Warren Buffett Bets $1 Billion Against Your March Madness Bracket | The Fiscal Times

Reply With Quote
 
  #2 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
shodson's Avatar
 
Posts: 1,869 since Jun 2009
Thanks: 484 given, 3,284 received

Here's the LA Times version

Warren Buffett offers $1 billion for a perfect March Madness bracket - latimes.com

So many parallels to trading here. This IS a trade! Just playing the odds. Quicken can pay the premium because they will get the millions of contestant opt-ins. Interesting that Buffet may offer to buy out anybody that has a perfect final four bracket (cut his losses). I wonder what he would offer if it got to that point.

Clever.

Reply With Quote

Reply



futures io > > > > Warren Buffett Bets $1 Billion Against Your NCAA Bracket

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Wyckoff Hunting for Great Risk/Reward Ratio w/Gary Fullett

Elite only
 

Digging into the Details of iSystems w/Stage 5 & iSystems

Jun 5
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Health Is Fine, Succession in Place, Warren Buffett Says** Quick Summary News and Current Events 0 May 5th, 2012 03:10 PM
Warren Buffett: My Succession Plans Have Not Changed Quick Summary News and Current Events 0 April 17th, 2012 10:10 PM
Warren Buffett Says He Has Stage 1 Prostate Cancer Quick Summary News and Current Events 2 April 17th, 2012 08:57 PM
Chris Christie Told Warren Buffett To 'Just Shut Up' kbit News and Current Events 2 February 22nd, 2012 02:51 PM
Collapse of the Euro Is Not 'Unthinkable': Warren Buffett Quick Summary News and Current Events 0 March 24th, 2011 10:00 AM


All times are GMT -4. The time now is 07:48 PM.

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-05-27 in 0.08 seconds with 19 queries on phoenix via your IP 23.20.240.193