Bob McAdoo, 5 time NBA All-Star, 1975 MVP, 2 rings
Michael Jordan, 10 time NBA All-Star, 5 MVP, 6 rings
Do you know what else they have in common?
ππ Keep reading, cause this story is amazing
The year was 1972, and Portland Trailblazers had the 1st draft pick. Their choice? LaRue Martin, a 6'11'' center from Loyola (Illinois). His team did 4W-20L in 1970-71, and 8W-14L on his senior year, scoring 19.6 points per game & 16 rebounds. Maybe not a bad pick, but....
... what was left behind was Bob McAdoo, #2 pick in 1972 draft by Buffalo Braves. The 6'9'' forward-center from U.North Carolina (26W-5L) did 19.5 points per game & 10 rebounds. Prior to that, McAdoo played at Vincennes, doing 25 points per game, and 11 rebounds. What followed?
LaRue Martin became one of the biggest flops in history. Averaging little over 5 points per game and 4 rebounds, his NBA career lasted but 4 seasons. On the other hand, Bob McAdoo became NBA Hall of Fame. The man behind this decision? Portland Trailblazers Stu Inman... cont
... fast forward 12 years later to the 1984 NBA Draft. Portland had 2nd pick this time, and needed a center plus a small-forward. The Rockets got Hakeem Olajuwon as 1st pick. There were some good choices left, including Sam Perkins (F/C), Michael Jordan (SF/G), and Sam Bowie (C)
Once again, the Trailblazers opted for the tallest guy. At 7'1'', the Center missed 2 entire seasons at U. of Kentucky due to injuries. Sam Bowie returned for his senior season (26W-4L), scoring 10.5 points per game and 9.2 rebounds. The other options were also stars...
... the 6'9'' N.C. Tar Heels Sam Perkins did 17.6 points per game and 9.6 rebounds on his senior year, a 28W-3L season. His teammate, 6'6'' Michael Jordan did 19.6 points per game and 5.3 rebounds. Portland somehow shrugged the injuries + far worse stats for a taller player.
1979 & 1981-82 MVP? Moses Malone, 6'10'', C 1976-7 & 1980 MVP? Kareem Abdul-Jabbar, 7'2'', C
1978 MVP? Bill Walton, 6'11'', C
It made sense to pick a tall center. Whose decision was to give up Michael Jordan and Sam Perkins? Yes, the same Stu Inman, Trailblazers GM at that time
What happened to Sam Bowie, Portland's 1984 #2 pick? Played 2 seasons scoring 10.9 points per game and 8.6 rebounds, followed by a year and a half injury recovery. Surprise, surprise! Meanwhile Dallas Maverick Sam Perkins scored 13.2 points per game and 8 rebounds 1st 2 seasons
PS: during that draft, 1984 olympics coach Bobby Knight said to the stubborn Stu Inman "Play him [Jordan] at center, and he will be the best center in the league." But he wanted something more 'similar' to previous MVPs, a tall Center. Stu ended up with 2 of the biggest NBA flops
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1/n To understand if $35k #Bitcoin makes any sense, you need to 'zoom out' first. First of all, we've never had $500 million+ buy orders executed in a couple of days. Not to mention an S&P500 company using it as reserves. Grayscale GBTC captured huge inflows, while gold ETF bled
2/n Keep in mind, USD fiat had bottomed vs global currencies (DXY) to a 3y low. However, as vaccination grew and companies such as $NFLX reported subpar numbers as life returned to normal, there was less reason to bet on some catastrophic event
3/n By April S&P had fully recovered, breaking 4.000 and real estate prices boomed as well. Just as BTC reached $60k, Janet Yellen and Chistine Lagarde both started citing the need for crypto regulation due to illegal activities. Kraken CEO alerted the "crackdown" on April 12
1/ July 26 and 27 pumps caused same liquidation of today's 12% dump. Aggregate open interest remains above $5 billion, so no side is even close to 'defeated'. Quite the opposite, buyers remain very optimist as 3-month basis (contango) remains at healthy 12% annualized...
2/ Perpetual funding rate holding below 5% monthly fee also show no sign of buyers giving up. They've built such position below $10,400, so why worry? Options market remains rather calm as well...
3/ There are 33% more call options open interest than put (protection) ones. Delta (implied odds) for $12K on Aug 28th sits at 42%, a reasonable figure considering Black & Scholes is conservative. The $10.5K put (protection) has 31% odds, so market makers are bullish...
1/ I have a theory why @grayscaleinvest is buying so many #Bitcoins yet price doesn't budge. Spare 3 mins and I'll take you down the rabbit hole. First of all you need to understand GBTC trades at a premium to the held. Each share holds 0.00096112 BTCs, as shown below
2/ This gives us a Net Asset Value (NAV) of $9800 x 0.00096112 = $9.42, while GBTC US closed at $11.73. That' a hefty 24% premium, which used to be a lot higher as you can see @ ycharts.com/companies/GBTC⦠Keep in mind only accredited investors can buy directly from @grayscaleinvest
3/ meanwhile plebs who do not have $1 million investments gotta buy on secondary markets using their regular stock brokers. 401k vehicles, e*trade and robinhood retail traders have no other way for Bitcoin exposure. Then comes the lock up period...
Took 2y longer than expected, but #Bitfinex cold wallet is finally being drained. 57k BTC outflow in 70 days. Will it hold or finally spiralling out of control? #Bitcoin