NBA Hammers Owner Donald Sterling For Racist Comments

NBA Hammers Owner Donald Sterling For Racist Comments

Basketball Commissioner Adam Silver was quick to punish Los Angeles Clippers owner Donald Sterling with a lifetime ban from the game and a $2.5 million fine for racist remarks that came to light in a recorded phone conversation between Sterling and his girlfriend.

Contrary to the principles of inclusion

“Sentiments of this kind are contrary to the principles of inclusion and respect that form the foundation of our diverse, multicultural and multi-ethnic league,” Silver said in a statement, noting that it didn’t matter whether Sterling’s views were expressed in private, “They are now public.”

Seth Klarman Describes His Approach In Rare Harvard Interview

Seth KlarmanIn a rare interview with Harvard Business School that was published online earlier this month, (it has since been taken down) value investor Seth Klarman spoke at length about his investment process, philosophy and the changes value investors have had to overcome during the past decade. Klarman’s hedge fund, the Boston-based Baupost has one of Read More

Heated remarks to girlfriend in phone call

In an audio recording released on the celebrity gossip program TMZ Sports two days ago,

In a heated phone conversation Sterling said told his girlfriend V. Stiviano “don’t bring black people (to Clipper games) and don’t come.”

Stiviano responds “Do you know that you have a whole team that’s black, that plays for you?”

“Do I know?” Sterling responded. “I support them and give them food, and clothes, and cars, and houses. Then he questions is the game is about the players or the league. “Do I make the game, or do they make the game? Is there 30 owners, that created the league?”  Sterling threatened to get another girlfriend if Stiviano didn’t fall in line with his worldview on race.

The fine from the NBA is the most severe that can be levied under the league’s rules. Sterling will be unable to attend games, practices and NBA meetings and may not participate in decisions regarding the team.  NBA owners are expected to be voting to force Sterling to sell the team, which requires a ¾ vote of owners.

Reactions around the league

Reactions from around the league were quick to come in over Twitter.

“I agree 100% with Commissioner Silvers findings and the actions taken against Donald Sterling,” Tweeted Dallas Mavericks owner Mark Cuban.

“Commissioner Silver thank you for protecting our beautiful and powerful league!! Great leader!!” Tweeted Miami Heat player LeBron James.

Updated on

Mark Melin is an alternative investment practitioner whose specialty is recognizing a trading program’s strategy and mapping it to a market environment and performance driver. He provides analysis of managed futures investment performance and commentary regarding related managed futures market environment. A portfolio and industry consultant, he was an adjunct instructor in managed futures at Northwestern University / Chicago and has written or edited three books, including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008). Mark was director of the managed futures division at Alaron Trading until they were acquired by Peregrine Financial Group in 2009, where he was a registered associated person (National Futures Association NFA ID#: 0348336). Mark has also worked as a Commodity Trading Advisor himself, trading a short volatility options portfolio across the yield curve, and was an independent consultant to various broker dealers and futures exchanges, including OneChicago, the single stock futures exchange, and the Chicago Board of Trade. He is also Editor, Opalesque Futures Intelligence and Editor, Opalesque Futures Strategies. - Contact: Mmelin(at)
Previous article Buffett To Sell Signature Diamonds
Next article TD Ameritrade: Retail Investors Better Off Today Than they’ve Ever Been

No posts to display