[muawiyah]

His clients were "told stuff", none of it true. First, remember this, nothing is normal about any of this. He lied to people and they gave him money. He felt no guilt because, as it turned out, they were greedy and knew doggone well no one can guarantee a 15% return year in and year out.

Madoff must have been a Gypsy changeling ~

[dennisw]

Madoff would still be going strong except that his “investors” were making redemptions to cover expenses due to their other investments tanking

Before this wave of redemptions Madoff was doing great because his “investors” rarely took money out. They plowed their dividends back in because it was such a great deal growing 12% each year ...on paper

[bruinbirdman]

"He felt no guilt because, as it turned out, they were greedy and knew doggone well no one can guarantee a 15% return year in and year out."

The up front warning of most any hedge fund: you have to be worth $10 million, minimun buy in $1 million, no guarantees, you have to be able to afford losing everything.

yitbos