I just re-read Harry Markopolis’ 2005 submission to the SEC. With a fisherman’s precision, he guts Bernie Madoff. He slits the Ponzi scheme down the center and lays bare the innards.
Blecch.
His language is crisp. The numbers are easy to follow. And as Markopolis fillets “split-strike conversion” strategies, there are no metaphorical references to scales, roe, or other kinds of fish gak. There’s only the damning evidence of his exposé.
Few of us share Markopolis’ expertise. With his special skills—an insider’s knowledge of puts, calls, and OTC derivatives—he first smelled the Madoff rot in 1999. It makes me wonder:
How can the rest of us avoid con artists?
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