If you're young, pay attention to Madoff.

[boatz]

that big compound in the picture is not Madoff's. It's Ira Rennert's home in Sagaponack. Rennert is the guy who owned AM General.

 

[Surdo]

Quote from Businessman:
Wikipedia says this estate is owned by Ira Rennert
http://en.wikipedia.org/wiki/Ira_Rennert

Quote from boatz:
that big compound in the picture is not Madoff's. It's Ira Rennert's home in Sagaponack. Rennert is the guy who owned AM General.

Thanks, you are about as sharp as a marble, and about 3 months late on this boatz!

 

[geico]

ya its better to do the right thing and earn less and keep ur head high till ur death rather than doing wrong things and live like a king for a day or two and then go to prison .

 

[MohdSalleh]

it is simple why he did this, because in the very long run, 20 yrs++, it is almost impossible to garner any kind of reasonable return, except through fraud.

my advice to traders who have "made it" is make your money and get out of the damn casino.

 

[Cutten]

Quote from MohdSalleh:

it is simple why he did this, because in the very long run, 20 yrs++, it is almost impossible to garner any kind of reasonable return, except through fraud.

my advice to traders who have "made it" is make your money and get out of the damn casino.

It is also almost impossible to become a world-class golfer. Would you advise leading golf professionals to retire from golfing?

 

[gnome]

Quote from MohdSalleh:

".. in the very long run, 20 yrs++, it is almost impossible to garner any kind of reasonable return...my advice to traders who have "made it" is make your money and get out of the damn casino.

Much truth. It's like a life-long poker game. You haven't won until the game is over [meaning, you have quit the game] and you have the money. "You never count your money while you're sittin' at the table... there'll be time enough for countin', when the dealin's done"... K. Rogers, "The Gambler"

 

[trendlover]

Quote from Cutten:

It is also almost impossible to become a world-class golfer. Would you advise leading golf professionals to retire from golfing?

It is different because the golf professionals make money with no loss, but still try to make more. With a trader, if they make money, try for more money, they risk the money they make already, true? Risk of losing all when they try to make more.

 

[Humpy]

Quote from MohdSalleh:

it is simple why he did this, because in the very long run, 20 yrs++, it is almost impossible to garner any kind of reasonable return, except through fraud.

my advice to traders who have "made it" is make your money and get out of the damn casino.

No no no no not so !

Once you get to the stage that you can consistantly make money out of the markets it's time to exploit your edge and continue year in year out making a good and easy living. All the hard work and grief is behind you. No need for fraud etc.

Its all about turning "That Damned Corner" into profitability

 

[theshark726]

See the green house on the far left were all the cars are parked.

That's were Madoff grew his pot! How do you think he hooked those clients? Lol

 

[Cutten]

Quote from gnome:

Much truth. It's like a life-long poker game. You haven't won until the game is over [meaning, you have quit the game] and you have the money. "You never count your money while you're sittin' at the table... there'll be time enough for countin', when the dealin's done"... K. Rogers, "The Gambler"

The "he who dies with the most toys" fallacy.

If you live fat from 18-50 and die broke, you had a lot more sex, adventure, cool stories, quality liquor, fine cigars and interesting friends than if you spent 18-65 toiling away and saving every penny. There is no grand prize for being the richest fat old fart with a haggard ugly wife at age 70.