Saturday, December 13, 2008

What a Bernie Madoff Statement To Investors Looked Like

Reuters reports:

Doug Kass, president of hedge fund Seabreeze Partners Management, said that three years ago, a client asked whether he should boost his investment with
Madoff. Kass asked for the clients brokerage statements from Madoff, and scrutinized them.

"Now, I am very good with math, but after hours of analysis over a weekend, I could not understand how he generated his returns," Kass said.

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