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Politics : Sioux Nation -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (157431)	1/5/2009 8:36:15 AM
From: altair19	Respond to of 362386

S2 <tried to explain to the Securities and Exchange Commission that Bernard L. Madoff couldn’t be anything other than a fraud. > I would bet most people got caught with Madoff through a "fund of funds" investment and never really saw it directly. It still doesn't excuse the lack of due diligence. With the blended returns in those fund of fund deals, it's hard to notice wierd returns while the rest of the market was doing pretty well. One of my best friends works at GS - he said one of his quant guys did some due diligence on Madoff about four years ago....he said it took him about an hour of research and still couldn't figure out how he made money so they dumped Madoff as an idea. This year I am hoping for a 25% run up - I'm planning based on a 10% run up. 10% of my action will be based on Obama's agenda for the economic stimulus - all the rest are quality and value plays. Altair19