Bernard Madoff Hedge Fund Manager Notes
Just came across another post on the Madoff fraud case. This article is by Veryan Allen, here is an excerpt:
Bernie Madoff was a stock broker "managing" client accounts. He was never part of the hedge fund industry. His firm was "regulated" and fraud is already illegal. He did not charge 2 and 20 and had no prime broker, proper auditor or independent administrator. Few professional investors invested directly with so many red flags in abundance. Due diligence is an alpha source itself. And portfolio diversification with NUMEROUS strategies and managers is mandatory. read more...