Assistant, big difference. My handicap these days is lack of playing. I only play in fund raisers. About 5 a year. Best ever was a 2 for about a 3 year run. Now I don't even play a single round that would qualify for a handicap.
OT: The Tiger Woods Story
- Thread starter tychicus
- Start date
Two things. I think many folks didn't need excitement brought to the game of golf. Courses were overrun in the 90s with 'golfers' who had no idea about golf etiquette, rules or manners and they didn't care. Tee times were much harder to get as well.
Second yeah he may have won 25 majors but you can't separate the man from the accomplishments. Jack had just as many temptations on the tour when he was a kid. He made better choices.
And I seriously doubt he went to the exhibition out of "friendship". These guys get paid up to 6 figures for showing up somewhere on a Monday. For that kind of cash anyone here'd act friendly to someone they dislike.
That sucks - I like playing with real good golfers. Still unknown on that V outing this summer...
So you're saying I shouldn't plan on looping for you on the Senior Tour?
Disappointing.
Super Seniors?
Hey, with me standing next to you, you'll look like Spieth or Fowler. People will be saying "Hey what's that kid doing with the old guy on his bag?"
Getting close to that time. Plus I don't look good in the wrap look.
Still love the game but if you don't have the time to practice and play. Still can hit it but just not competitive as I was. If I ever win the lottery I might play everyday like my early years.
That was my plan. 10 years ago I thought I'd be living somewhere between Wilmington and Myrtle Beach playing 1-2 times a week by now. I have friends and former coworkers doing just that while I'm still working with no end in sight.
Some day!
The trick is to get a job at a golf course when you retire. Gets you out of the house and free golf. Most good golf courses need bartenders....just saying.
Phil
Phil in the news again....http://www.sbnation.com/golf/2016/5/19/11713366/phil-mickelson-insider-trading-lawsuit-billy-walters
Just thought it interesting that we were just talking about this. As I said in earlier posts in this thread. No skin in the game but looks like the "ambassador" turned states evidence and saved his skin. Because if this was you or I we would be going to jail.
No we wouldn't. As a "Relief Defendant" Phil is being required to pay back the profit he made along with a pretty hefty interest penalty. Basically the SEC is saying he didn't commit a crime but can not be allowed to profit from the info he was given.
So you're telling me you believe Phil did not know this was non public information. Prior to this "tip" Phil never or very rarely bought on margin and average position size was $275k. This position was 10x the size. This discrepancy alone would lead the SEC to investigate insider trading charges against you and I because we were trading outside of our normal practice. I have had dealings with the SEC. They definitely would not be looking kindly on this if it were you or I.
Sorry I misread earlier information. His brokerage account value was below $275k not his average position. An additional red flag. Sounds to me like Phil is singing.
Article said he was singing. Phil is rich and has a good lawyer. He did a crime with somebody the SEC wants more.
Yup he was stupid and I believe you correctly stated the reason the SEC red flags went up. In this case it would seem the SEC got the big fish they wanted such as the head of Dean Foods. It appears to me as a financial outsider they were only concerned with getting the people at the top. Phil was a small fish.
Agreed. This doesn't look good for Phil. I do not think this is the end of it. You do not turn on gamblers/bookies, especially ones where you have a history of losing big money and Heads of Corporate America.
Not only that but two of his big sponsors are KPMG and Barclays. I can't imagine they are happy that their most well known spokesmen is embroiled in this scandal.
Exactly. Never understood why Phil had this squeaky clean marketing image when there were many accounts of his actions inside the ropes that were less than desirable.
Met he and his wife on a couple of occasions and they were gracious and polite but always gave me the feeling I had to check my pants pocket for my wallet.
As I said what seems like weeks ago in this thread, I know someone who worked in player relations at a couple tour stops. She gushes about Phil and the way he treated everyone from the grounds crew to execs. Is/Was it an act? Seems to be too pretty difficult to always be "on". That said I've come to realize that doesn't mean someone doesn't have a dark side if you dig deep enough.
Tiger and his Dad remind me of the relationship that Mike Tyson had with Cus D'Amato. Once the mentor was gone there was no moral compass....utter conflict.
To a degree yes but you have to consider Tiger's Dad was reported to be just as big a philanderer in his day as Tiger was. Like Father, like son?
I will side with knight move here. Not what I would have thought from the respective behavior on the course etc. I have my reasons for agreeing with km which I won't share.
Honestly?If you mean that he got inside information on a deal from a less than reputable person.That he owed multiple millions of dollars to in a gambling operation. Than yes he spoke honestly. To save his own skin that is.
Where do you get that Phil owned millions?? There were more than one person involved including Tom Davis the head of the company involved. Phil bought $2.4 million dollars in options to make 900k
Was stated in a couple articles that he owed Multiple millions.
http://espn.go.com/espn/otl/story/_...ermediary-was-part-illegal-gambling-operation
This article states it most succinctly. Not sure why someone would transfer close to $3 million if he did not owe that much. Also it was discussed on Golf Network that it was no secret amongst those on tour that he was in deep, once again.
This article also has a nice timeline.
http://www.usatoday.com/story/sport...st-high-risk-is-off-the-golf-course/84641854/
Your answer is in the second article you posted. It wasn't that he owed millions. It was that he paid $2.4 million to buy stock options that netted him $930,000 dollars PROFIT. He put up $2.4 million, than sold them and walked away with $3.3 million.
No where, anywhere does it say he owed millions in gambling debts.
So you regularly transfer and "launder" $3+ million if you only owe a percentage of that total? Come on get serious
I understand the funding of accounts. 20+ year career in finance.
I didn't know funding an account involved an intermediary with known ties to criminal enterprises. That's what I have been doing wrong all these years.
"Nearly $3 million transferred from golfer Phil Mickelson to an intermediary was part of "an illegal gambling operation which accepted and placed bets on sporting events," according to two sources and court documents obtained by Outside the Lines."
Quoted from article posted earlier.
— Mickelson bought $2.4 million of Dean Foods shares on July 30 and July 31 in three brokerage accounts. The SEC says he had less than $250,000 in those accounts, had not been a frequent trader and had never bought Dean Foods stock.
— Dean Foods announced second-quarter earnings and the spinoff of subsidiary White Wave Foods after the market closed Aug. 7.
— The stock price went up 40 percent the next day, and Mickelson sold all the shares he had bought for a $931,000 profit.
Seems pretty cut and dry to me. And I'm not ignoring that there was a gambling relationship between the two but to say "he owed millions" has not been presented as fact Not even close to it. This explains the $3 million in tranfers.
That is a clear and concise audit trail of the insider trade and the front end of the transaction.
You neglect to talk about the back end of the transaction and the liquidation of the account. Phil liquidated the account and immediately laundered the net proceeds through said intermediary. He did not take possession of the $3+ million. Rather he shipped it off to settle his debt.
No Im not neglecting the back end where some of the "profits" were used to pay off the debt. You make it sound like Walters was given the whole $3.3 million. It's not true. You are confusing Mickelson with Davis as the person who owed millions to Walters.
The S.E.C. said some of the nearly $1 million in trading profit Mr. Mickelson made on shares of Dean Foods went to reimburse Mr. Walters.
At best Mickelsons gambling debt was less than $931,000. Not near the "millions" you keep talking about but have no facts to back up.
http://www.nytimes.com/2016/05/20/b...rading-billy-walters-sports-gambler.html?_r=0
According to the original court documents, Silveira accepted a wire transfer of $2.75 million, which he knew was part of "illegal activities."The money, according to the documents, came from a "gambling client" and had been transferred into Silveira's Wells Fargo Bank account.
The source of the money, according to documents filed Tuesday, was a gambler known to Silviera who did not want his identity publicized but wanted Silveira to use the transferred funds to pay off a betting debt. Silveira, who splits time between San Diego and La Quinta, is described in documents as a friend of a number of individuals who are also avid golfers.
The initial plea agreement signed by Silveira last year contained a reference to the "money laundering of funds from P.M." After Outside the Lines inquired about Mickelson's potential role in the case
Three quotes from earlier posted articles
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