
Gary Hall talks about swimming and his financial endeavors in a USA Swimming article: [
Link]
Gary Hall Jr. has been to three Olympics and medaled in all of them. Gary has 10 medals total, 5 gold, 3 silver and 2 bronze. (Sprinters can do that. Their shelf life is far longer than a distance or middle distance swimmer. Mark and I joke that a warm up for a sprinter is just a long hot shower.)
He and his father also founded
the Race Club where he trains and coaches. What is revealing is that Gary Hall not only has
the Race Club as a business endeavor but that he is a financial planner as well. One of his financial vehicles is buying "Stock Warrants" for his clients.
An example of buying a stock warrant: Let's say we have a company called
Tony Bologna Steel. Let's say that
Tony Bologna was a publicly traded company on the stock exchange but it went bankrupt, thrown off the stock exchange, and is now in the process of reorganizing so as to pay off it's debts. Once this is accomplished,
Tony Bologna Steel plans to come out of bankruptcy and be relisted as if it were a brand new company. Now, before
Tony Balogna can do that, it needs to pay off it's debts utterly and completely. So, here is what it does: it goes to family member or a friend and even a stranger and says, "I need one-million-dollars to pay off all
Tony Bologna debts, Once my debts are paid I will be relisted on the stock market for $30 a share, I will allow you to purchase right now 3-million dollars of that stock for only 1-million and I will give you a "promise receipt" called a "stock warrant" to guarantee that sale! Once I am out of debt and back on the exchange, 3- million-dollars worth of stock is yours and you can sell it any time you want."
Gary Hall has a variation to this where he purchases stock warrants of companies
BEFORE they were
EVER listed on the stock exchange. In other words companies that have not gone bankrupt. Keep in mind this is speculative investment that relies primarily on trust.
By the way, the little kid in the picture "owned" Gary Hall in a 200 LCM. ;-)
The major handicap the less developed nations have in producing world class swimmers is the lack of available pools for the general population. With fewer pools fewer people swim and the population base from which to draw elite swimmers becomes correspondingly smaller. Building swimming pools is very expensive which is why the United States has been a perennial powerhouse in world swimming - it has the most pools per capita of any country in the world by far. China will take a long time to get even close. So these results are to be expected for a country which isn't into wholesale cheating (questions could be raised about why the women have done so much better than the men though).