Bernie Madoff...Why he did what he did

Quote from telozo:

Before going too deep into the sociopath thing, think about where all that money that's gone missing went. Finding the answer would shed some light on his behavior.
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y like that PBS show The Money Masters said just follow the money.
 
Quote from 1flyfisher:

No doubt he was a cold hearted bastard taking money from elderly widows and such.
I'm just baffled by the Why do it in the first place.

If people are willing to give you BILLIONS. The fees on that are huge. Hundreds of millions yearly. Simply duplicate the market. Maybe pick a few stocks. When funds grow that large it is hard to beat the market due do the enormous size of the funds anyway.

He must have had some mental sickness.
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If he only made a simple market return he would not have got the billions in the first place. Those billions of dollars would be in the hands of someone who can offer better than average returns.
 
Quote from Kassz007:

If he only made a simple market return he would not have got the billions in the first place. Those billions of dollars would be in the hands of someone who can offer better than average returns.
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Quote from telozo:

Before going too deep into the sociopath thing, think about where all that money that's gone missing went. Finding the answer would shed some light on his behavior.
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Imo,Study him all you want. There's nothing to discover by his actions, what he does with the money is not the motive for his action.He does it because he can, plain and simple. From Jeffry Dhamer to Madoff and countless others, there is nothing upstairs.

Knowing his reasons will not lead to predictive behaviour of the next madoff. They may tell you their reasons, money, blame their childhood, their mother, the girl next door, some wrong in their life it is all insanity. You're trying to ascertain reason and motive where their isn't one, because they do not know. The most eloquent and genius iq sociopath will leave you dealing with the devil and devoid of the truth.
 
I don't support nor back what he did. But the investors are to blame as well - if someone was to sell me the Brooklyn Bridge, I should do due dilligence on it.

At the end of the day, he's no different than a manager that make you high return consistently and blow up because of credit crisis or other "extraordinary market condition".
 
Quote from traderyin:



At the end of the day, he's no different than a manager that make you high return consistently and blow up because of credit crisis or other "extraordinary market condition".
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I disagree. Market events losses are totally different than losses suffered from fraud, totally different.

surf
 
Quote from IanMacQuaide:

Mandelbrotset said""The man is a complete sociopath ... he doesn't have any feelings for or caring for the people he ripped-off. Hell, he doesn't even see them as being "people" ... they are "tools", "pawns" "marks".""

Exactly. As an officer, I fought a true Psychopath once..he ripped my badge off and was trying to cut my partners throat with it before I could flip him down. Thankfully a citizen stepped into the fight and grabbed the hand with my badge in it. We had to literally hog tie him to get him in the patrol cars cage.

I also have personal knowledge of a true Sociopath who's ripped off his own Mother for about $150,000.00. Every dime she had.
He'll wind up in a State Prison for at least 15 years.

I too do not understand these predators, and never will.
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I remember seeing this show on 911 where the fire fighters are waiting in the lobby of one of the towers; the captain kind of looks over at a guy and you can see they are like "we're not gonna make it" , now that's courageous! I like to think for every bad guy out there that there are still some good ones around. Money does corrupt you if you let it, but its a tool like everything else.
 
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