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Poor Ruth Madoff…

Monday, June 29th, 2009

She has to face living off $2.5 million. I really feel sorry for her. Please detect the sarcasm in that statement. This will sound cold but I think she should be impoverished like so many of her husband’s clients were. I think we have to assume that the assets owned by the Madoff’s were acquired […]

I Like This Quote From Alan Abelson!

Tuesday, December 23rd, 2008

For some reason I got the December 15th issue of Barron’s today (I got the December 22nd issue on Saturday). Anyway, Alan Abelson’s column ($) was about the Madoff fraud. I like this quote from his column: What Madoff’s investors lacked in numbers, they more than made up in wealth. Which proves that cupidity and […]

Larry Swedroe’s Thoughts on the Madoff Scandal

Tuesday, December 16th, 2008

Larry Swedroe sent this to me and I thought I’d share it with you. The Consequences of the Failure of Investment Process What do HSBC, the Royal Bank of Scotland, BNP Paribas (France), Banco Santander (Spain), Neue Private Bank (Switzerland), Union Bancaire Privee (Switzerland), Nomura Holdings (Japan), Aozora Bank (Japan) whose top shareholder is legendary […]

Madoff’s Investors May Have to Surrender Gains!

Tuesday, December 16th, 2008

From, Investors May Have to Surrender Gains ($), in yesterday’s Wall Street Journal: Investors are unlikely to get back much of the money they invested with Bernard Madoff, and those who took out money in recent years may have to give it back. Imagine that! You invest with Madoff for a few years and then […]

Why Are “Sophisticated Investors” So Dumb?

Monday, December 15th, 2008

I find it funny that nearly every time that I read a story in the Wall Street Journal about the collapse of a hedge fund or a story about fraud, the words “sophisticated investor” are used to describe those who were swindled or those who lost it all. Is “sophisticated investor” the new term for […]