In case you missed Matt Lauer’s interview with Harry Markopolis, here it is. Markopolis is the money manager from Boston who met with SEC four times and tried to expose Madoff’s Ponzi scheme. He said some terrific things during the interview and some that give my pause:
- “If you don’t understand the strategy, don’t invest in it.” Absolutely correct. I’ve attached a link to my post from 2009, Top Ten Ways to Spot Financial Fraud, which highlights red flags for non-money managers.
- Did Madoff have help? He operated in 40 nations, worked with 399 feeder companies, and paid 90 percent of his fees to third parties.
- There’s a new Dirty Harry in town, and this one goes by the name Markopolis. Wait until you hear what he says about carrying a gun.
Look, Markopolis is pitching his book. I bought it, look forward to reading it, and hope to post a review here sometime in the next month.
Norb Vonnegut
About the author
Norb Vonnegut wrote 178 articles on this blog.
Do you ever feel the financial news makes no sense? Do stories leave you with more questions than answers? I created Acrimoney to discuss Wall Street’s behavior behind the headlines. As a veteran of a wealth management business that exceeded $1 billion in assets, I offer insight into the people and the “doings” that affect your money. I’ll start the discussion. But I hope you’ll jump in and say what you think.
"The Gods of Greenwich is a pure delight, racing relentlessly from the bedrooms of Manhattan to the boardrooms of Connecticut to the banks of Iceland. Bravo!”
