http://www.nypost.com/seven/12132008/news/regionalnews/investor_furor_over_50b_scam_143966.htm
http://globaleconomicanalysis.blogspot.com/2008/12/madoff-madness-i-knew-he-was-cheating.html
Rule #1 before I learn buy low and sell high, I heard do not put your eggs in one basket. For all those weathly investors it is a tragerdy but you can not trust one thing. I am shock to see how many people had all there money in one spot. In the end few people understand financial markets, or making money. We are searching for the easy money. It is a illusion. There is no perfect stragery, there is no safe investment.
#2 Why the hell would you invest thinking he was doing something illegal??? In the end it will crash. Ponzi scheme or insider trading. In the end you will get screwed. Greed is not good. Wall Street the movie has created a legion of Gordon Geckos. Everyone is searching for the easy money and does not care if we screw people in the end. Sad.
#3 The even worse part, if you took money out in the last six years you can be sued to return it. Since you received illegal money you have to give it back. So not only do you lose all your princiapl, but you lose six years of returns. Ouch.
Saturday, December 13, 2008
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