Jamaican sprinter Usain Bolt‘s stock-market fiasco has riddled the world with questions. With the loss of 12.7 million dollars, Bolt’s investments dropped from millions to mere thousands. While most athletes invest their money in the dazzling world of the stock market, NHL demigod, Wayne Gretzky holds a rather different perspective.
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In 2013, the Great one shared his outlook on managing finances as an athlete. As his piece of advice to the young athletes, he also shared a harsh reality behind the picturesque view of the stock market. Let’s look into Gretzky’s wise counsel.
Wayne Gretzky talked about stock investments
In a 2012 article for Money Sense Gretzky profoundly chatted about the various facets of managing finances. At one point, the Canadian revealed the jarring reality of investing in stocks. Gretzky stated, “too many hard-working people save $5000 or $10,000, then invest it in a single stock based on a tip they’ve received”.
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DALLAS, TX – JUNE 22: Wayne Gretzky of the Edmonton Oilers attends the first round of the 2018 NHL Draft at American Airlines Center on June 22, 2018 in Dallas, Texas. (Photo by Bruce Bennett/Getty Images)
The White Tornado then mentioned the discordant nature of the stock market by adding, “they put that money in, and all of a sudden it’s down to zero”. He further conceded with the concept of keeping money in the bank. “There’s nothing wrong with keeping your money in the bank”, added Gretzky.
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Furthermore, as a “big bond guy” himself, Gretzky believes in having an upper hand over his investments by knowing thoroughly about what he is investing into.
Gretzky plans his financial outlays by consulting his managers
While enlightening the athletes in the right direction with their finances, Gretzky talked about his strategies. As per the Great One’s revelations, when he invests in equities, he does “it through money managers”, who have an apt knowledge of investment strategies. Gretzky follows the same approach while investing in real estate.
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LOS ANGELES, CA – JANUARY 28: Former NHL player Wayne Gretzky visits players in the locker room prior to the 2017 NHL All-Star Celebrity Shootout at Staples Center on January 28, 2017 in Los Angeles, California. (Photo by Andrew D. Bernstein/NHLI via Getty Images)
Since Bolt lost all of his hard-earned money to a financial scam, carried out by an internal employee in SSL, fans have been enraged by what happened to the sprinter’s savings. While on the other hand, many fans concede with Gretzky’s advice and stay away from making impromptu investments in stocks. What do you think about Gretzky’s financial strategies? Give us your thoughts in the comments below.
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