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Professor a Victim of Madoff

I have been reading Fooled by Ponzi (and Madoff): How Bernard Madoff Made Off with My Money by Stephen Greenspan.

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Stephen Greenspan is a professor who writes for Skeptic Magazine. I am surprised that a person like him would make fun of people who believe in conspiracy theories, UFOs, and so forth, calling them gullible people, but he himself was gullible for investing in Bernard Madoff.

Do you think that at the end of the day it is all a matter of imagery? I suspect the professor trusted Madoff because he was extremely wealthy, because he was well respected, because he drove a nice car, wore nice clothes, etc whereas the stereotype of the UFO watcher is not as positive.

Reply to
norak
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Where does it say that he "make fun" of people?

Reply to
PeterL

I think that people don't believe in financial audits since they didn't work with Enron.

-- Ron

Reply to
Ron Peterson

Your heart tells you stick with winners while the brute logic of asset balancing says to invest with losing classes. Even now this means buying some stocks.

Reply to
rick++

Or World Com. But that's like saying people don't believe in airplanes because one crashed, or cars because mine wouldn't start yesterday. Like cars and airplanes, audits work far more often than not. The lack of an audit by a well known firm should be a big red flag. -- Doug

Reply to
Douglas Johnson

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