I hope you don't stick around if the verdict looks bad. Not worth it, IMHO.
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Madoff says losses of 50 Billion!
- Thread starter Cdntrader
- Start date
I hope you don't stick around if the verdict looks bad. Not worth it, IMHO.
Reminds me of a WB quote:
"It's only when the tide goes out that you learn who's been swimming naked."
Real estate, banks, and autos are not coming back anytime soon. Wonder what other turds we're gonna find flopping about on the beach ...
"It's only when the tide goes out that you learn who's been swimming naked."
Real estate, banks, and autos are not coming back anytime soon. Wonder what other turds we're gonna find flopping about on the beach ...
Any chance we can move Wall Street to Guantanamo Bay?
Blagojevich hand me thinking politicians were reestablishing their preeminence in greed and sleaze, but Madoff proves that Wall Street cannot be topped in terms of sheer audacity. $14B for Detroit is gonna seem like tip money compared to what could be unfolding
Blagojevich hand me thinking politicians were reestablishing their preeminence in greed and sleaze, but Madoff proves that Wall Street cannot be topped in terms of sheer audacity. $14B for Detroit is gonna seem like tip money compared to what could be unfolding
what is the probability that Jim Simmons is also a fraud ?
A couple of years ago I read about Fairfield's Sentry "Split Strike Conversion" trading approach and was intrigued by the low volatility returns. I tried backtesting and understand the strategy, but I couldn't. It just didn't make any sense to me.
Long a basket of stocks and short the synthetic (split strike) underlying is not an edge.
92% positive months, outperforming LIBOR 550 bps over the last 10 years... I thought these guys know something I don't.
Here's a WSJ article: http://online.wsj.com/article/SB122903010173099377-email.html
Attachment: 3x leveraged investment product in Fairfield Sentry LTD offered by a Swiss private bank. Equity looks like a completely smooth curve.
Long a basket of stocks and short the synthetic (split strike) underlying is not an edge.
92% positive months, outperforming LIBOR 550 bps over the last 10 years... I thought these guys know something I don't.
Here's a WSJ article: http://online.wsj.com/article/SB122903010173099377-email.html
10% every year after fees with a "strategy" that has zero edge? It sounded too good to be true I guess.Mr. Madoff's investors described their shock and panic on Thursday. Susan Leavitt of Tampa Bay, Fla., said she had several million dollars of inherited money invested in the firm and added $500,000 earlier this year. A stay-at-home mother with two children, the 46-year-old Ms. Leavitt says she is considering going back to work. "That was my nest egg for the children, and my future. I'll never see much back, I'm sure," she said.
Ms. Leavitt said she recently discussed her investment with a friend who told her he was suspicious about the firm's ability to generate such profits amid the economic crisis. "I thought, 'He's probably just jealous,' " said Ms. Leavitt. "We've been with [Mr. Madoff] for 15 years, and it's grown every year at 10%."
Attachment: 3x leveraged investment product in Fairfield Sentry LTD offered by a Swiss private bank. Equity looks like a completely smooth curve.
Attachments
Questions were raised about the Madoff hedge fund steady returns way back in May, 2001. http://nakedshorts.typepad.com/nakedshorts/2008/12/if-it-sounds-too-good-to-be-true.html
Gotta love it . I can't stop laughing about this story !
At least the guy is finally being honest about it almost in an unapologetic way :
"It was all a big lie !" "A giant Ponzy scheme !" "We lost 50 bln "
LOL so funny !
Keeping that lie going for so long must have been as hard as making the money he claimed he was making !
At least the guy is finally being honest about it almost in an unapologetic way :
"It was all a big lie !" "A giant Ponzy scheme !" "We lost 50 bln "
LOL so funny !
Keeping that lie going for so long must have been as hard as making the money he claimed he was making !
Out of more than $17bn in assets under management by Mr Madoffâs firm at the start of 2008, essentially all the assets appear to be missing, the SEC alleged.
here is the SEC charge sheet:
http://www.ft.com/cms/14bdd77c-c7e7-11dd-b611-000077b07658.pdf
when the tide goes out....
here is the SEC charge sheet:
http://www.ft.com/cms/14bdd77c-c7e7-11dd-b611-000077b07658.pdf
when the tide goes out....