tag:blogger.com,1999:blog-316774933262163695.post3305352652807811483..comments2023-10-11T08:31:50.397-04:00Comments on moneythoughts: The Madoff Fraud: Stupidity, Greed or Bothmoneythoughtshttp://www.blogger.com/profile/08462893426608294171noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-316774933262163695.post-47147770104954720822009-01-09T16:55:00.000-05:002009-01-09T16:55:00.000-05:00Write me if you win the lottery and I will give yo...Write me if you win the lottery and I will give you some ideas. The people and organizations that lost everything with Madoff made several mistakes, but the biggest one was putting all their eggs in one basket. Had any individual or organization had only place 10% or less of their portfolio with Madoff, they would still have 90% of their portfolios. Second, any organization that does not put a multi million dollar portfolio in a trust department for safe keeping should ask themselves what are they paying a chief financial officer for? Third, any money that leaves a safe keeping account, where money is handed over to a money manager is at risk for fraud. My final comment about the Madoff fraud is: I think it took more than one pair of hands to pull off $50 billion.moneythoughtshttps://www.blogger.com/profile/08462893426608294171noreply@blogger.comtag:blogger.com,1999:blog-316774933262163695.post-27597614334470338192009-01-09T09:19:00.000-05:002009-01-09T09:19:00.000-05:00Dear Fred, If I had any money to invest, you'd be...Dear Fred, If I had any money to invest, you'd be the first guy I'd talk to. Absolutely. The irony of this just frustrates the shit out of me. Where the HELL have you been all my life?Anonymoushttps://www.blogger.com/profile/13024392628362568010noreply@blogger.com