When you make that kind of money suddenly you're an accredited investor. It's supposed to mean you're a sophisticated enough investor to take on riskier investments, but the way it's implemented it only measures if you can take a loss (either you have > $1mil in assets or make $200k+/year). Thus people like athletes are exposed to much riskier investment deals than they really have the ability to comprehend. I don't blame anyone for losing money, let alone athletes.
To answer your question, I personally don't know all the details about my Vanguard fund, though I understand the basics. But that's very different from a slick salesman in a suit selling me an opportunity to invest in Brazil in a high-risk high-return investment scheme.
To answer your question, I personally don't know all the details about my Vanguard fund, though I understand the basics. But that's very different from a slick salesman in a suit selling me an opportunity to invest in Brazil in a high-risk high-return investment scheme.