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The Madoff Fiasco

December 26th, 2008 by Chuck · No Comments · Business

Just a quick note on this Madoff scandal.  I keep hearing that people and fund managers were investing with Madoff, in spite of misgivings, because he “showed results.”  I can’t help thinking how similar it is to the characters who invested with the “playboy” version of Francisco D’Anconia, because he “knew how to make money.”  They did no research into the actual projects they were investing in. 

Madoff no doubt made fraudulent claims, which somewhat mitigates the actions of his investors.  Still, when something seems too good to be true, extra care is called for.  Not lemming like behavior.

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