Originally Posted by
Dan Druff
He's too locked in the small market mindset of signing flawed players with a tiny sliver of high upside. At the same time, he shies away from big money free agents, and won't pull the trigger on big trades.
Dodgers need to act like a big market team and sign Gerrit Cole.
Our Dodgers impasse is both frustrating and endlessly entertaining - at your expense. I recognize reality is creeping around the edges of your Dodger understanding. I’ll give you that.
A quick review:
The Dodgers really aren’t a big money team. Friedman is exactly the guy they wanted and his behavior has been rigidly consistent. He is doing the job he was hired for.
You never read “The Best Team Money Can Buy”. The sad tale of Dodgers ownership. You have a flawed foundation. There are facts your parents never told you.
The Dodgers are not the indulgence of a billionaire like Sawks Henry or Detroit’s now deceased Pizza guy to name two.
You must remind yourself that the Dodgers are largely owned by a privately held insurance enterprise that has been under suspicion for some time.
They are in the annuity business for the most part. Billions are paid in and 30 or 40 years later you fill out a form and
hope the money is still there.
The average consumer looks at the company’s rating and places a bet as close to A++ considering the time factor involved. Let’s just say that Walters’ (Guggenheim owner) is the Michael Milken of life insurance annuities. His ratings are B-something.
You are witnessing a three-card monte practitioner. It’s been a while since i went down this rabbit hole and it is headache inducing but let’s just be kind and say
Walters is not keeping funds segregated to use poker parlance.
Shit has worked out for him in terms of timing the short term economic cycle. He started his foray with a bankrupt insurance enterprise during the housing crash. The concern that the instant success may have Enron style book keeping elements has always lingered.
Not gonna get into the class action lawsuits and the mysterious dropping of same with non disclosure.
It all doesn’t pass the aroma test.
Look, it’s Hollywood and it’s hard to tell what’s real without help from guys like me. You’re like a child watching CGI Disney movies thinking dogs can dunk basketballs.
I’ll reduce this to simple terms:
Friedman isn’t using some rich guy’s unlimited bankroll to lure Cole or Strasburg. It’s insurance money. Fiduciary responsibility practiced by an enterprise that is under industry scrutiny and puzzlement.
I do not accept the Dodgers current valuation either. You still can’t watch them legally in your living room. Valuation is eyeballs. There is a lot of nonsense there too. Small quibble but it will be revisited some day when our economic cycle turns down. That is usually when fraud is revealed. Madoff anyone? Lol, that was a Mets story... I digress.
Thoughts while shaving. There were 2 more investors recently. $120m? Why? That’s short change. Cash an issue?
I am sufficiently satisfied I have the right read given my research over the years. It has not been a slog and I’m not a martyr cause for the same reasons I’m at PFA ... I enjoy stories of Financial shenanigans.
Twenty years from now your son will tell people he is a long suffering Dodgers fan cause of his father. It’s not too late to give him the future you were denied. Meanwhile, your gonna be trying to collect that Guggenheim life insurance annuity.
Good luck