Vertical Research Advisory
Newsletter

$50 BILLION THAT WILL BE REMEMBERED

When the news broke about the $50 billion Ponzi Scheme that Bernie Madoff engineered over a twenty to thirty year period, I knew the story rang a bell. I went back through my records and found the original Barron’s article in 20 ...

Posted On December 22, 20089 MIN Read
Share:
vra-default-img

When the news broke about the $50 billion Ponzi Scheme that Bernie Madoff engineered over a twenty to thirty year period, I knew the story rang a bell. I went back through my records and found the original Barron’s article in 2001, and written by Erin Arvedlund. Included in her excellent research were quotes from several well known Wall Street veterans where they openly questioned Madoffs ability to consistently generate 15% plus returns, year after year, in good market or bad. All of the warning signs were there, and lots of bright people believed that this guy was running a huge scam. They were right, but no one seemed to care.

I contacted Erin a few days ago about the article and found her comments most interesting. “After I wrote the article, nothing happened. No one contacted me from the SEC or anything. I found that pretty strange….the story just died”.

 

As long time subscribers to the VRA know, I’ve been writing about the vast conflicts of interest on Wall Street for ...

Continue reading your article and start your free 14-day trial with VRA.

Start Free Trial

Already have an account? Sign in.

Related Post

June 17, 2024
VRA Letter: Alert: Bought GameStop. VRA Market Update; Overbought, but Semis Still Leading. FEAR. GDX, Snowline Gold, XLE, Falcon. Money, Money, Money

Good Monday morning. Hope all the dads had a great father’s day weekend. We have a lot of bases to cover this AM. VRA Alert: on Friday we added GameStop (GME) to the VRA Portfolio @ $29.25. We’ve navigated “meme stock” plays well to date, booking combined profits of approximately 450% in AMC and Trump Media. We think our next […]

June 14, 2024
VRA Members Only Podcast: VRA Alert: Buy GameStop $GME

Good Friday morning. Podcast Link:  Brief 15 minute members podcast to cover the markets and what looks to be another mistake from the Fed (not a big one….it should self-correct)…and to announce our new VRA Buy Rec: GameStop $GME This is a speculative buy, but like AMC and Trump Media before it (where we booked combined […]

June 13, 2024
VRA Letter: The Markets Lead, The Fed Follows. Semis (Still) On Fire. Shareholders Approve Musk Comp Package, TSLA +7%. $2600 Price Target.

Good Thursday morning. As our resident Fed watcher covered on his podcast yesterday after the close, J Powell’s presser contained a lot of words, but should serious investors even continue to listen to him? After 5 major policy errors since he got the job (from Trump) in 2018, Powell and team have been (exactly) wrong […]

June 12, 2024
VRA Letter: May CPI Report; Massive Beats, as Stocks, PM’s & Miners Lift Off. It’s Fed Day; if You’re Not Long, You’re Wrong. Buy the Dip in Miners.

Good Wednesday morning. It’s Fed Day…you’re no doubt as excited as we are. But first, this morning we got the May CPI data and “boom", it’s a massive beat. Stocks are flying higher, as are precious metals and miners, with 10-year yields getting smoked down to 4.29%. ❖ U.S CPI (MOM) (MAY) ACTUAL: 0.0% VS 0.3% PREVIOUS; EST […]

June 11, 2024
VRA Letter: New Highs Beget New Highs. The Fed is Watching Regional Banks. The Most Important Chart of This Bull Market. New LSOG Deck. Xtract One; New Buy Rec.

Good Tuesday morning. As Tyler covered in detail on his podcast yesterday, the S&P 500 and Nasdaq closed at record highs (again), as new highs continue to beget new highs. This performance, led higher again by key market tell, the semis (+1.4%), comes ahead of significant events which include the release of the Consumer Price Index […]