How did Old Bernie Madhoff Attract so much $$'s?
- Thread starter chipmunk
- Start date
No one mentioned how much word-of-mouth recommendation he was receiving within his own Synagogue.
I saw an interview with the Rabbi at his congregation. Members come to their Rabbi (like any clergyman) for advice on all sorts of matters. He had been steering well-heeled congregants to Bernie for safe phenominal returns. He even recommended charities go see Bernie and they ended up losing everything too.
Bernie's violations of trust were simply monstrous. May he rot in hell.
I saw an interview with the Rabbi at his congregation. Members come to their Rabbi (like any clergyman) for advice on all sorts of matters. He had been steering well-heeled congregants to Bernie for safe phenominal returns. He even recommended charities go see Bernie and they ended up losing everything too.
Bernie's violations of trust were simply monstrous. May he rot in hell.
From what I saw in the Connecticut area feeder fund prospectus whose website I visited in 2005, Bernie Madoff was claiming 40% annual returns with less than 4% drawdown.
I don't know where 12% came from, because it was substantially greater than that, and the returns I saw were basically between 30-60% every year he was reporting.
I don't know where 12% came from, because it was substantially greater than that, and the returns I saw were basically between 30-60% every year he was reporting.
No..his whole U.S.P. was very low consistent numbers. 1% per month . No losing months. No wild drawdowsn etc..and this is what people loved. On the documentary people saud they wpould hpone and chat to him asnd he would always say "we made another 1% last month"
It wa snever about big wins with him. Although..he never told anyone the real truth as well.
The documentary was all about 1% per month gains...unless they just made that number up? But it makes sense
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I don't know where 12% came from, because it was substantially greater than that, and the returns I saw were basically between 30-60% every year he was reporting.
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It wa snever about big wins with him. Although..he never told anyone the real truth as well.
The documentary was all about 1% per month gains...unless they just made that number up? But it makes sense
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I don't know where 12% came from, because it was substantially greater than that, and the returns I saw were basically between 30-60% every year he was reporting.
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You are wrong in your assumptions about his rates of return. His fund was posting 40% returns on 4% drawdowns. You don't speak english very well so english and your knowledge of this topic is false.
He was posting spectacularly overstated returns, and I know, because I saw one of the feeder fund's prospectuses leading to Madoff.
This happens all the time to religious people. Many of these folks have deliberately forsaken the use of their own brain and are more guilty than others of normative ethics : doing things based on their perception of what has higher social currency rather than rely on their own critical thinking faculties and go against the grain. So, yeah, they're easy targets for scam artists. Just invoke God's name. Not thinking for oneself correlates well with not doing due diligence.