Posts tagged ‘BERNIE MADOFF’

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Ray Dirks, Whistleblower

Back in the news after 42 years

On March 6, 1973, Ray Dirks got an unexpected phone call in the morning from an ex-employee of a West Coast life insurance company he was following called Equity Funding Corporation of America. 

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Hedge Funds in the Doldrums

The deflating effects of underperformance and overregulation

Warren Buffet’s wager with Protégé Partners epitomizes the gloom hovering over the hedge fund industry.  In 2008, the Oracle of Omaha bet the New York-based fund-of-funds $1 million that index funds would outperform hedge funds over the next 10 years. 

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How to Avoid Getting Fleeced

Con artists excel at exploiting your financial ‘Achilles’ heel’

Bernie Madoff’s fraud victims included Steven Spielberg, a $16 billion fund of funds (Fairfield Greenwich Group) and the largest bank in Europe (Banco Santander).  Madoff also fleeced corporate moguls, politicians, attorneys, accountants, securities dealers, insurance companies, universities, foundations, country clubs and as many as 8,000 ordinary folks just like you.

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Private Funds Need Bolder Boards

The days of ‘rubber-stamping’ Cayman directors are over

If “carried interest” is not enough to fret about, US private equity and hedge fund managers now face the unwelcome prospect of “independent” boards.

The model of a couple of professional Cayman Islands directors performing a perfunctory oversight role no longer cuts the mustard.