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Via Bloomberg (here too) and elsewhere. It's not just the size of the con, but also the size and prestige of those who were conned.
Bravo to Jim Vos of Aksia LLC, Harry Markopolos, Brad Alford of Alpha Capital, James Hedges and others, for upholding the good name of investors in investors.
Update--much more here:
The New York Times: Here and here and here and here and here.
The Wall Street Journal
The Financial Times
London's The Times and The Independent
Posted at 01:15 PM in Hedge Fund Wizards--of Oz, Investor Due Diligence, Investor Seduction Theory | Permalink
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So much does not add up. The most fundamental question of all is, if this guy could show consistent winning results for decades, with no regulatory issues impugning his integrity, then during a time of extreme stress among his competitors, why would $7 billion be withdrawn? Seems to me that, with his long-standing performance record, his deep list of who's who clients, investors reportedly being turned away, a reputation for possessing more charm than you could shake a stick at, that in times like these money would be pouring in, not exiting.
Considering, then, all things are not what they seem, all the articles you link to do a very poor job of answering the most fundamental question of all: WHY NOW?
Because the FBI tells us $7 billion was being withdrawn? Why do I smell a political rat?
Tom Chechatka |
December 17, 2008 at 09:33 PM
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