Scott Eyre has $13

[cubsfan1947]

This all goes back to the old saying that another poster has mentioned,"don't put all your eggs in one basket." As someone else has also said diversification gives you some protection.

 

What is stunning are the number of very wealthy people who have been brought down by this. Apparently the number of people in europe who were affected by this may be much higher than in the U.S..

 

Then of course there were those who began to suspect something was phony about Madoff, who then told the SEC but were apparently ignored.

 

Bottom line: you have got to protect yourself.

[shnsajax]

This all goes back to the old saying that another poster has mentioned,"don't put all your eggs in one basket." As someone else has also said diversification gives you some protection.

 

What is stunning are the number of very wealthy people who have been brought down by this. Apparently the number of people in europe who were affected by this may be much higher than in the U.S..

 

Then of course there were those who began to suspect something was phony about Madoff, who then told the SEC but were apparently ignored.

 

Bottom line: you have got to protect yourself.

 

Thats why they went to Madoff in the first place, they thought they were protecting themselves. Its like calling a cop to come protect you, only to have him rape you.

[Guest]

Its like calling a cop to come protect you, only to have him rape you.

Does the cop look like Megan Fox?

[jersey cubs fan]

This all goes back to the old saying that another poster has mentioned,"don't put all your eggs in one basket." As someone else has also said diversification gives you some protection.

 

What is stunning are the number of very wealthy people who have been brought down by this. Apparently the number of people in europe who were affected by this may be much higher than in the U.S..

 

Then of course there were those who began to suspect something was phony about Madoff, who then told the SEC but were apparently ignored.

 

Bottom line: you have got to protect yourself.

 

Thats why they went to Madoff in the first place, they thought they were protecting themselves. Its like calling a cop to come protect you, only to have him rape you.

 

They didn't go to Madoff for protection, they went to Madoff because they heard he could get them terrific return on their money. If protection was their concern they would have put their money in a much safer institution. They were looking for profit.

[hardcorecubfan]

one thing all these stories make me wonder is, why were these rich people putting all their eggs in one basket? i know it's great to have an investment that is making you oodles of cash (supposedly) but if you're worth $5m or $10m why would you put all that money in one uninsured place? at least keep a few hundred grand in CDs or a money market or whatever.

 

i think part of it is naivety and part of it is greed.

 

 

Exactly, what happened to his paid accountant that went to college and learned about the concept of diversification?