Latest news with #CreightonUniversity
Yahoo
11 hours ago
- Business
- Yahoo
10 things you need to know about Lakers' new majority owner Mark Walter
The post 10 things you need to know about Lakers' new majority owner Mark Walter appeared first on ClutchPoints. For the first time since 1979, the Buss family will no longer own the Los Angeles Lakers, with Mark Walter purchasing the team at a valuation $10 billion. Advertisement This move, understandably, took the sports world by storm, as it majorly shook up one of the most popular teams in one of the biggest cities in one of the biggest leagues in the world, with potential ramifications the likes of which won't be known for years to come. But who is Mark Walter, the first new owner of the Lakers in almost five decades? Where is he from, how did he get his money, and how does he now own multiple major franchises in Los Angeles? Needless to say, his journey to the Lakers is fascinating. © Jayne Kamin-Oncea-Imagn Images 1. Mark Walter isn't from LA Though he may own what feels like half of the biggest teams in Los Angeles, Mark Walter isn't actually from LA County. Advertisement Born in Cedar Rapids, Iowa, Walter grew up in the Midwest, where his father worked at a concrete block manufacturing plant, and he grew up a Cubs fan. 2. Mark Walter went to Creighton for his undergrad Despite his Midwest roots, Walter went to college at Creighton University in Omaha, Nebraska. Walter studied accounting and ultimately earned a bachelor's degree in 1982. 3. Mark Walter has a law degree from Northwestern After completing his undergraduate studies, Walter traveled to Chicago to pursue a law degree at Northwestern University. While getting to watch his favorite baseball team on the regular, Walter also met his wife, Kimbra, in Chicago, with whom he remains married to this day. 4. Mark Watler earned his money from insurance How was Walter able to put down $10 billion to purchase the Lakers? Well, Walter earned much of his money from the insurance industry, where he has been working professionally since 2000. After founding his first major company in 1996, Liberty Hampshire Company, Walter shifted over to insurance in 2000 when he decided to found a new company with the Guggenheim family. 5. Mark Walter is a founder of Guggenheim Partners Outside of his sports portfolio, Mark Walter is best known for being the founder of Guggenheim Partners, one of the world's biggest insurance companies. Advertisement Founding the company with Peter Lawson-Johnson II, the firm has assets under management of $330 billion. With Walter as the CEO, Guggenheim has become one of the biggest companies in the world and has ventured out into sports ownership with the launch of Guggenheimer Baseball Management. Kirby Lee-Imagn Images 6. Guggenheim Management purchased the Dodgers in 2012 In 2012, the Dodgers were put up for sale after then-owner Frank McCourt was investigated by MLB, and the team filed for Chapter 11 Bankruptcy. After failing to purchase the Astros years prior, Walter and the Guggenheim Group put together a package worth north of $2 billion to buy the team outright, purchasing the team, their affiliates, their stadium, and the land around it, but, curiously enough, not the parking lot, which LA rents for $14 million a year. 7. Mark Walter personally owns 27 percent of the Dodgers Though the Guggenheim Baseball Management group is the primary owner of the Dodgers, Walter does have a stake in the team personally at 27 percent after personally putting up $100 million to help purchase the team. 8. Magic Johnson is a minority owner of the Dodgers, too As many fans around LA know, Lakers legend Magic Johnson is also a minority owner of the Dodgers, helping the Guggenheim group with their purchase back in 2012. Though his name was in many headlines at the time regarding the purchase, Johnson remains a single-digit owner of the team. Kyle Terada-Imagn Images 9. Mark Walter already owns the Los Angeles Sparks Before he purchased the Lakers, Walter and Johnson came together to buy the Los Angeles Sparks, with the Guggenheim CEO owning a sixth of the franchise. Under Walker's leadership, the Sparks have won two conference titles and a WNBA Championship in 2016. 10. Mark Walter has been the Lakers' owner-in-waiting While the news of Walter buying the Lakers caught the sporting world by surprise, it's technically been an option for some time now, as when he purchased 20 percent of the team in 2021 from Philip Anschutz, he was given the ability to become majority owner should the opportunity arise in the future. Advertisement Were the Lakers going to be put up for sale publicly? It's hard to say, but after holding a fifth of the team for multiple seasons, Walter was able to buy the franchise outright at a valuation $10 billion. Related: Lakers rumors: Nick Wright predicts Austin Reaves' trade value after Desmond Bane deal Related: Sources: Why Lakers rivals hoped Jeanie Buss would never sell franchise
Boston Globe
13 hours ago
- Business
- Boston Globe
Billionaire Mark Walter, set to own controlling stake in Lakers, built fortune in investing
Walter received an undergraduate degree in business administration from Creighton University and a law degree from Northwestern University, but ultimately chose business over a career in law. In the mid-1990s, he co-founded Liberty Hampshire, an investment management firm in Chicago. That business became part of Guggenheim Partners, which Walter co-founded in the late 1990s. Advertisement In addition to Guggenheim, Walter co-founded TWG Global with film producer Thomas Tull. The company holds a portfolio of finance and insurance sector companies, including Guggenheim Investments, Guggenheim Securities, Group 1001 Insurance and Delaware Life. It also includes aerospace and defense technology company Shield AI. Last month, TWG Global announced a partnership with Palantir Technologies and Elon Musk's AI company, xAI, maker of Grok, aimed at developing artificial intelligence for use in the financial services industry. TWG Global also includes investments in sports, media and entertainment franchises, such as the controlling interest in the Los Angeles Dodgers, Premier League club Chelsea, the Professional Women's Hockey League and — through TWG Motorsports — ownership of several auto racing teams including Cadillac Formula 1. Advertisement Beyond business, Walter and his wife, Kimbra, have founded or contributed to various philanthropic organizations, including the Los Angeles Dodgers Foundation, the Academy Group, Chicago Beyond and OneGoal.
Yahoo
6 days ago
- Business
- Yahoo
Scared of a Market Crash? Warren Buffett Says That's Your Cue To Get Greedy
Wall Street has seen some serious highs and lows in recent months. These stock market moves have raised some concerns about a recession or a market crash. Read Next: For You: Fear can be a great motivator or a powerful roadblock for many investors. In fact, you may be familiar with the famous quote linked to Warren Buffett: 'Be fearful when others are greedy and greedy when others are fearful.' The advice may sound simple, but it can bring with it unexpected complexities and more decisions to make as an investor. But it may not be that clear cut. GOBankingRates talked to some financial experts for their advice about being fearful as an investor. 'A down market might be the best time to buy assets for the lowest price possible,' said Annie Cole, Ed.D., money coach and founder of Money Essentials for Women. 'While a down market can mean that your personal assets, such as home value or stock value, take a hit for a period of time, it also means that assets you don't already own are lowering in price — the perfect time for you to buy for a bargain.' Discover Next: 'Fear is the worst enemy of investors,' said Robert Johnson, Ph.D., professor at the Heider College of Business at Creighton University. 'The average investor underperforms the market because they panic.' Johnson added that perhaps the biggest weakness in any stock investor is the person who believes they can predict market rises and falls. Johnson said attempting to time the market is 'fools gold.' 'The best way to counteract this tendency to time the market is to practice dollar cost averaging in a broad based stock market mutual fund or ETF — like one that tracks the S&P 500,' Johnson said. 'That means you are consistently buying into the market whether it has headed up, down or sideways.' More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard How Much Money Is Needed To Be Considered Middle Class in Every State? 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on Scared of a Market Crash? Warren Buffett Says That's Your Cue To Get Greedy
Yahoo
05-06-2025
- Business
- Yahoo
Mark Cuban Says Bitcoin Is a ‘Better Buy' Amid Stock Market Uncertainty — Is It Time To Invest?
Bitcoin has been getting more popular. Financial firms that previously rejected cryptocurrency have now embraced bitcoin with open arms. Discover More: Find Out: More money experts are voicing their support for the cryptocurrency, too — including Mark Cuban. The business mogul has been bullish on cryptocurrencies for a while and, in an April post on X, referred to bitcoin as a better buying opportunity than stocks in the current market. Here's what investors should consider before investing in bitcoin. Robert R. Johnson is a professor of finance at Creighton University's Heider College of Business. He doesn't agree with Cuban's take on bitcoin and invites investors to understand their core motivation for buying any asset. 'The question you should ask yourself in committing funds to stocks or bitcoin is: What is your goal — your motivation? Are you investing, or are you speculating? My belief is that one cannot truly invest in cryptocurrencies; one can only speculate,' he explained. If you believe bitcoin has long-term potential, then it may be worth an investment. However, if you are only buying bitcoin because it's been going up lately and has delivered exceptional gains for long-term investors, you need a better reason to buy. If you can't come up with a good motivation to buy bitcoin, it's best to stay on the sidelines. Read Next: Johnson also mentioned another benefit of stocks: You can look at their financials and assess a company's performance against peers. 'Stocks are more enticing, because they produce something. In other words, if you buy a share of stock, you are entitled to a share of the earnings of a company. Bitcoin doesn't produce anything,' he explained. Johnson isn't the only one with this take. David Materazzi, CEO of Galileo FX, is also skeptical of bitcoin. He views it as a collectible that produces nothing and has no earnings, dividends or output. He recommended looking at stocks instead of crypto, while explaining the benefits of stock buybacks: 'Buybacks increase your stake in a real business. Same earnings, fewer shares. You own more. That's value,' he said. 'Bitcoin has no earnings. No board. No cash. Nothing gets returned to holders. Nothing compounds. It just sits there. Price moves only if someone else wants in.' Bitcoin could receive a nice boost if the Federal Reserve decides to cut rates. Inflation has remained relatively low for a few months despite tariffs, and if this trend continues, the Fed may soon reduce rates. However, lower interest rates aren't exclusively bullish for bitcoin. They effect the entire stock market. 'Bitcoin reacts to money printing, regulation and hype,' Materazzi said. 'Stocks respond to performance. Earnings growth, capital investment, buybacks, execution. That's the gap.' In Johnson's book 'Invest With the Fed,' he and his co-authors, Gerald Jensen and Luis Garcia-Feikoo, reviewed data from 1966 to 2023 and determined the most promising sectors when the Fed lowers rates. 'The best-performing sectors in a falling interest rate environment were automobiles (30.9%), apparel (27.3%) and retail (25.8%),' he explained. 'In addition, small stocks outperformed large stocks during falling interest rate environments. The smallest quintile of stocks returned 30.1% during falling rate environments, while the largest quintile returned 15.6%.' More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Every State? 4 Affordable Car Brands You Won't Regret Buying in 2025 This article originally appeared on Mark Cuban Says Bitcoin Is a 'Better Buy' Amid Stock Market Uncertainty — Is It Time To Invest? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
Americans Are Worried About These 3 Aspects of the Economy — Should They Be?
Inflation continues to weigh heavily on Americans' minds, coming in at or near the top among economic worries in recent surveys. Whether it merits that level of worry is open for debate. Inflation topped a recent YouGov/Economist poll on Americans' biggest concerns, not just for the economy but overall. In a Clever Real Estate survey on consumer sentiment, 94% of Americans listed inflation as a top economic worry. Be Aware: Read Next: While high prices — or at least prices that feel high — continue to strain budgets, not all economists believe that level of concern is warranted. Robert R. Johnson, a professor of finance at Creighton University's Heider College of Business, advises turning that particular worry meter down for now and seeing how the Trump administration's economic proposals play out. 'Americans should not fear inflation currently,' Johnson said. 'But given the tax cuts advocated by the Trump administration, inflation could be a significant problem longer term. The budget deficit will rise dramatically if Trump's tax cuts are enacted. Additionally, inflation will be stoked if significant tariffs are in place for any length of time.' GOBankingRates breaks down the larger worries around the U.S. economy, and whether Americans should be on high alert or not. Price increases have cooled compared to spikes seen in recent years, though many costs are still higher than they were before the surge. As measured by the Consumer Price Index, inflation rose 2.3% over the 12-month period that ended in April. That's actually the lowest increase for the all-items index since February of 2021. It's also down from the 2.4% increase for the 12-month period that ended in March. Belinda Román, an associate professor of economics at St. Mary's University in San Antonio, Texas, noted that some level of inflation is always expected, and 2.3% is close to levels targeted by Federal Reserve. Nevertheless many of us have come to define inflation as prices feeling too high, rather than prices increasing significantly. 'A lot of the economy is perception,' Román said. 'People may think inflation has run away, when it hasn't really.' 'We notice it at certain times of year,' she added, citing increasing gas prices as summer draws closer. Try This: The only item listed more often than inflation in Clever Real Estate's survey of economic worries? The rising cost of all types of insurance. A whopping 95% of respondents listed increasing insurance costs among their top economic concerns. Homeowners' insurance rates surged by 24% between 2021 and 2024, according to a report from the Consumer Federation of America. These increases haven't been limited to disaster-prone regions, with rates climbing nationwide due to inflation and higher repair costs. That said, a recent spate of disasters is having a widespread impact. 'This is putting a lot of pressure on insurers,' Román said. 'Even if it's not happening where you are, it's reverberating throughout the country.' Auto insurance has also seen sharp increases, with premiums up 0.6% in April and 6.4 over the last twelve months ending in April, based on the Consumer Price Index. 'There is no magic bullet to control these costs,' Johnson said. 'The rising cost of insurance is certainly changing the attractiveness of certain housing markets, particularly for retirees.' Cuts proposed by the Trump administration were also prominent in Clever Real Estate's survey on top economic worries. Among those figures: Only about a third of respondents supported recent mass layoffs at many federal agencies, with 82% expressing worry about federal spending cuts. Three quarters of those surveyed said they would feel an impact on themselves or their families if cuts reduced assistance programs like Social Security, Medicaid, food stamps, and benefits for veterans. 'There is a great deal of uncertainty with respect to federal government spending, particularly programs like Medicaid,' Johnson said. 'Historically it has been political suicide to advocate for cuts in programs like Social Security or Medicaid. But there is a great deal of uncertainty with respect to the future of these programs in the current political environment.' 'I wouldn't say it was irrational for those who are retiring to claim Social Security earlier than they might have, given the uncertain political environment,' he continued. Cuts to Medicaid and food stamps could affect millions of low-income Americans, forcing states to shoulder more of the costs or reduce benefits. It's all part of a philosophical debate about who should be responsible, and who should pay. 'We haven't done this since… you may need to go back to Reagan,' Román said. 'We're having this national conversation again.' More From GOBankingRates These Cars May Seem Expensive, but They Rarely Need Repairs This article originally appeared on Americans Are Worried About These 3 Aspects of the Economy — Should They Be? Sign in to access your portfolio
