6 celebrities that lost everything

I was quoted in this great piece by Heather Larson for Bankrate.com.  Here’s an excerpt, and you can check out the full article on Bankrate.com

Baltimore Colts quarterback Johnny Unitas excelled at football, setting several records that may never be broken. However, he lacked business sense. He invested in bowling alleys, land deals, an air freight company, a circuit-board manufacturer and restaurants — all unsuccessfully. In 1991, he filed for Chapter 11 bankruptcy.

“Expertise in one area does not translate into success in another,” says Rob Wilson, vice president of Blazer Capital Management in Pittsburgh. “Unitas should have partnered with a trustworthy individual who knew how to run a successful bowling alley or experts in other businesses he wanted to invest in, instead of venturing out on his own.”