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I did not lose any money with Bernard Madoff. This is not some sort of boast, and has nothing to do with my superior investing savvy. It has everything to do with my not having enough money for him to bother with me and the fact that I had never heard of him before two weeks ago seems also relevant.
That said, this article provides a nice lesson in doing due diligence with regards to investing. It also seems to provide an answer to this article.
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1 year ago
Thanks for the links. I still don't see how none of the investors scrutinized the investment/return patterns.
ReplyDeleteOf course, maybe some did, and got out. They shut up because there is nothing to be gained by speculative whistle blowing. And maybe a "bonus" for disgruntled and inquisitive, but quiet, investors cashing in. And maybe because of creating waves in the affiliation group.
No matter to me, since I don't have a dog in that fight. Just a curious spectator.
I say let Spitzer head the SEC. He's done his time.