He's assuming it's just me and him all alone in the world. I'd find someone else(s) willing to buy/invest in my share. Once there's someone in the equation for whom a 1/8 chance at $125M would be worth more than $25M, I no longer need to accept $25M. Or as such someone else(s) are wont to say: I win to that.
I'd accept a $25 million payout because the marginal utility of anything above that is nil to me. $25 million and I'm financially independent for life.
Buffett has already said he'd buy you out at $100M, and I'd certainly take that offer. I thought the guy with the longshot championship ticket for Auburn was an idiot for not hedging his bet once they reached the championship.
Not a chance. I don't think I've hit more than 10 Sweet 16 teams or two Final Four teams. If I'm hitting every single pick, I'm confident I can hit the easy ones.
I am quite confident that the Bracket Challenge was insured in some way other than just "we have a cash reserve"--would be interesting to see what sort of premium Berkshire Hathaway paid for it.
Well, now it's a moo point.