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12-07-2012, 06:22 PM
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Originally Posted by bobbyb2009 View Post
Fair enough.

I actually gave you some factual argument, laying out expectations for someone making an investment of any kind might be (in fact, would be). I also gave you an actual real example of what happens in the market from time to time.

Please provide me with you factual argument as to why this is unreasonable. I look forward to it.
And that's fine, but there's also the counter argument that standard investment rules kind of go out the window for pro sports because of other factors like I mentioned above. The ROI that is going to keep a Tim Horton's franchise viable is going to be a lot different than a sports team that is effectively a hobby for a billionaire.

Look at it in real estate terms. The required return from a local commercial or residential investment property in order to make it worthwhile is going to be a lot higher than a vacation property that you might occasionally rent out. The vacation property is more for fun and most people would be fine if they could just break even. That's what NHL teams are like. They're basically hobbies that give the owner prestige and some fun. Obviously it can't be a money pit or it won't sustain itself, but when the incentive isn't primarily ROI (which for many teams I'd argue it isn't) then you can't just apply the rules of normal investments and expected returns to it.

Experience does matter in forming an opinion, and you certainly can't believe me in suggesting that I have done what I have done. I understand how that may look bad. Apologies if you think that I have inappropriately expressed my own experience.

I find useful info on here from time to time, and this issue is one close to my real life issues, so I tried to offer a perspective that is contrary to the one being constantly expressed on here- without any insight, in my opinion.
Experience is important as is insight from people that have it. But in a venue like this where no one can verify anything anyone says about themselves, you can't just appeal to your own authority. It's poor logic and leads to poor arguments. There are certainly tenable arguments that support the owners' position and you can make them without having to talk down to others.

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