Dallas Mavericks owner Mark Cuban has decided not to open a hedge fund that bets on sporting events after all.
“Some other people took the idea and ran with,” he said in an e-mail. “That was fine by me because I didn’t have time to deal with it.”
The goal of the fund was to prove that the stock market was “more Ponzi scheme than efficient markets,” Mr. Cuban said when he announced the fund about a year ago.
