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They Told Me That Madoff Never Lost Money (Ben Stein)
New York Times ^
| December 28, 2008
| BEN STEIN
Posted on 12/30/2008 1:32:43 PM PST by nickcarraway
click here to read article
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To: nickcarraway
Good think Madoff didn’t “Win Ben Stein’s Money”
21
posted on
12/30/2008 3:02:46 PM PST
by
dfwgator
(I hate Illinois Marxists)
To: Black Birch
22
posted on
12/30/2008 3:08:17 PM PST
by
Travis McGee
(--www.EnemiesForeignAndDomestic.com--)
To: nickcarraway
You may have a lot less money as this year ends than you did two years ago. But you are just as good or bad a person as you were then. It is a myth that money determines who you are, and if you have gotten over that myth by now, then 2008 will have been a very good year
It's all grace, Ben. Amazing Grace.
23
posted on
12/30/2008 3:13:59 PM PST
by
xzins
(Retired Army Chaplain, Pro Deo et Patria)
To: Black Birch
He thinks the Dow is going to 873????
The guy IS nuts.
To: Black Birch
"Dow = 1 oz of gold.. "
Gold is at $875 an ounce today. Now a Dow at 875 is scary!
25
posted on
12/30/2008 3:38:26 PM PST
by
Enterprise
(No Presidency for illegal aliens from Kenya.)
To: Enterprise
Or gold and the DJIA could both go to 2000.
To: nickcarraway
We are more than the year-to-year or day-by-day changes in our net worth. We are what we do for charity. We are how we treat our family and friends. We are how we treat our dogs and cats. We are what we do for our community and our nation. If you had $100 million or $100,000 a year ago and now you have a lot less, you are still the same person. You are not a balance sheet, at least not one denominated in money, as was explained to me recently. Losing and making money are not moral issues so long as you are being honest.
Ben Stein's a good and wise man. He adds needed perspective.
27
posted on
12/30/2008 4:21:59 PM PST
by
GOPJ
(GM's market value is a third of Bed, Bath and Beyond. Why is GM "too big to fail"? Steyn)
To: reformedliberal
And THAT’S scary too! I did hear a prediction of DOW 4,000 recently, but I am just sitting here with my hands over my eyes.
28
posted on
12/30/2008 4:47:15 PM PST
by
Enterprise
(No Presidency for illegal aliens from Kenya.)
To: Choose Ye This Day
He thinks the Dow is going to 873???? I wasn't paying that close of attention, but I heard him say the dow to gold ratio..
29
posted on
12/30/2008 4:52:32 PM PST
by
EVO X
they were kinda right, I’ll bet Madoff never lost HIS OWN money.
30
posted on
12/30/2008 5:15:05 PM PST
by
isom35
To: eureka!
Endorsed him and gave money to his campaign......
To: denydenydeny
This is why it's hard to be sympathetic towards the Madoff victims. Even the most rudimentary kind of diligence would have informed these people that there is no financial magic bullet. I agree with you. As this mess has unfolded, there have been some people/groups that passed on the opportunity or advised clients not to invest with Madoff. The first one I heard of was the New York Community Trust. They passed and advised the foundations under their umbrella not to invest. It seems they had a list of basic questions that Madoff couldn't answer. One would think these questions would be in an investing primer or textbook.
32
posted on
12/30/2008 5:55:59 PM PST
by
PrincessB
("I am an expert on my own opinion." - Dave Ramsey)
To: nickcarraway
The best investment for my money right now is securing the matching funds from my company and dumping the rest into my Navy Federal Savings account at 3% interest.
NFCU is run by ELECTED ex Admirals and Captains. They are tight as hell in loaning out money and play it straight.
They even cancelled a $500 credit card on my for making two late payments in a year. (note: payments did not exceed 30 days.)
Tough crowd!
To: nickcarraway
I protested that a perfect hedge would not allow making any money, because money made on the one side would be lost on the other. Puhleese. From about 45 seconds after the inception of the term, it was understood to be term of art. Nobody expected "hedge funds" to be perfectly hedged -- there'd be no point.
And, hey, why don't you name names? Who was the investment bank that fed you that line of crap? 'Cause they're accomplices. Nobody pitches something that hard unless there's plenty of chop.
To: Enterprise
We are out of the market for the first time in over 30 years.
No growth is scary, but every day that I saw further erosion was scarier.
To tell the truth, I am just about beyond being frightened by it all. I am sort of numb. Whatever happens, happens.
To: nickcarraway
At least Stein is honest. And I can honestly also say that I have “inventive” ways to lose money in the stock market. Unfortunately that seems to be the way one learns to stop losing money. I dumped five losers the other day when I should have dumped them years ago. And they still are losing money. Cramer had some good suggestions today and you might still be able to catch his program where he discusses those 25 rules of investing.
36
posted on
12/30/2008 9:17:00 PM PST
by
RichardW
To: EyeGuy
Financial geniuses are exceedingly rare...This CAN'T be true, for I am one!
It's real simple, and I'll let you in on it for FREE!
(Don't get better than this; does it?)
Buy Low: Sell High
See how simple that is?!
What I really need, however, is a TIMING genius!
37
posted on
12/31/2008 5:50:03 AM PST
by
Elsie
(Heck is where people, who don't believe in Gosh, think they are not going...)
To: Tanniker Smith
Madoff tried to steal Ben Stein's money.
38
posted on
12/31/2008 6:00:35 AM PST
by
Thumper1960
(A modern so-called "Conservative" is a shadow of a wisp of a vertebrate human being.)
To: Reaganesque
Investment tip #2: If it sounds too good to be true, it is.
39
posted on
12/31/2008 6:20:07 AM PST
by
Kozak
(USA 7/4/1776 to 1/20/2009 Requiescat In Pace)
To: Black Birch
Dow = 1 oz of gold.. Said it last night on CNBC..
So is the DOW going to 900, or is gold going to 9,000?
40
posted on
12/31/2008 6:21:42 AM PST
by
Kozak
(USA 7/4/1776 to 1/20/2009 Requiescat In Pace)
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