probably not, but I saw an interesting banter today on his live webcast meant to entice folks to part with cold , hard cash for his various and prolific wares.
someone asked if he didn't want legions of followers so that when he released his 'trades' they would push the price in his direction, even if the stock was not going there on its own. This gives him a very nice exit, regardless of actual direction.
his answer was, "No, since most of my trades are shorts and there are rarely any shares to borrow on the penny garbage I'm trading."
Then what is he selling? A useless system that can't be used to actually trade? Or did he just contradict himself. Sometimes it's hard to cover all the bases when you're running a 'u no what'.
Madoff was good at it, but nothing lasts forever.
someone asked if he didn't want legions of followers so that when he released his 'trades' they would push the price in his direction, even if the stock was not going there on its own. This gives him a very nice exit, regardless of actual direction.
his answer was, "No, since most of my trades are shorts and there are rarely any shares to borrow on the penny garbage I'm trading."
Then what is he selling? A useless system that can't be used to actually trade? Or did he just contradict himself. Sometimes it's hard to cover all the bases when you're running a 'u no what'.
Madoff was good at it, but nothing lasts forever.
