I don’t blame the Madoff investors for investing in his hedge fund. Truth is, we all make some mistakes when investing. But, like Ben Franklin used to say; “Experience keeps a dear school, but fools learn in no other.” It makes sense to take a critical look at the way Madoff set up his scheme, then figure out how to avoid the mistakes his investors made.
Why Madoff had such a successful scheme
First and foremost, Madoff had a lot of credibility. He created an over-the-counter trading firm in the 1970s and was the chairman of the NASDAQ stock exchange. …Read More