Jeff Foster called the ‘Warren Buffett’ of basketball

Jeff  Foster is known around the Express-News sports department as the second most famous player on James Madison High School’s team during the mid-1990s.

The most famous, of course, would be our esteemed Spurs beat writer Jeff McDonald.

But Foster has one thing over McDonald other than his on team flights.

Foster probably could match the savings of the entire Express-News staff — and then some.

The former Southwest Texas State (now Texas State) standout has made more than $47 million during his NBA career. Most amazingly, Business Week magazine estimates that of his take-home pay.

Foster invested heavily in an internet venture early in his professional career and saw that money vanish. But he was able to save and grow much of recent contracts by investing heavily in municipal bonds and about 28 percent of his savings in cash.

It’s a fascinating story, particularly reading about the one indulgence that Foster has allowed himself.

After his last contract in 2008 with the Indiana Pacers, he allowed himself to buy himself a $100,000 Porsche.

“I wanted to treat myself, because I knew it could be my last big contract,” he told Business Week.

But with the lockout looming, Foster recently sold the sports car at a $3,000 loss.

He now he drives an Infiniti SUV. He’s also probably David Stern’s worst nightmare as far as a player who could wait out the lockout.

And hopefully, he’ll pick up the tab for his 20th class reunion back in the Alamo City in a few years.

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