Sage Investing Advice From Bernie Madoff

Jun 5, 2013
J. Webster
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From prison, where he will spend the next 150 years (in other words, the rest of his life), Bernie Madoff doled out some free advice for investors who might want to put their hard earned money in a hedge fund or the like.

MW: Your customers were given consistent, good returns for years. No one realized it was a Ponzi scheme until the financial crisis and clients demanded their money back. How can investors detect fraud like that?

B.M.: If it sounds too good to be true, it is. One of the things that allowed me to go on as long as I did is that I had a lot of credibility. I had 11% and 12% returns, which were not that unusual at that time. So no one questioned me, and I was able to continue.

Read the full interview over at MarketWatch.

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