FUEGO
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Nov 13, 2007
- Messages
- 7,746
While I haven't read any of the blogs yet, I must say that I feel bad for anyone who lost their rightful property (money) via a con man. It was her money and some crook stole it and that's just wrong regardless of how much money we're talking about.
Most definitely agree on this point. It was her money and she should not have been defrauded.
But I wonder what percentage of blame lies with her (and similar Madoff investors). What kind of due diligence did she conduct? I believe Madoff investors had to be accredited (meeting certain high mininum net worth and earnings thresholds). Being accredited doesn't necessarily entail higher levels of sophistication (based on personal experience with some bozo accredited investors). Sometimes there is no such thing as a free lunch (ie outsized risk free returns), and the buyer/investor should beware.