Hedge Funds

Cuban wants to start hedge fund based on sports bets


Colorful and controversial entrepreneur Mark Cuban, owner of the Dallas Mavericks basketball franchise, says he wants to start a hedge fund that would be run by professional gamblers who make bets on sporting events.

Cuban, who in a massive stroke of luck sold his internet company Broadcast.com before the dot-com market bottomed out, wrote on his website that his proposed fund would retain top betters with established track records to run the fund. Cuban claims that he has been taking long and short positions in stocks for 15 years and that "there has already been one hedge fund started based