Here are my tweets on today’s talk to the Boston Security Analysts Society by Harry Markopolos, the Madoff whistleblower and author of No One Would Listen.
- “This case was a global tragedy” said Markopolos. “It was beyond evil.”
- Madoff case is only in its 2nd innings, said Markopolos. There’ll be more arrests due to cooperating witnesses.
- CFA# Code of Ethics is important to Markopolos. “It’s about investors and doing the right thing,” he said.
- CPAs, is this true? CPA code of conduct lacks affirmative duty to report fraud.
- Lesson #1 for Madoff victims: 0-25% is proper allocation to hedge funds, said Markopolos
- Lesson #2 for Madoff victims: Never put all of your eggs in one basket, said Markopolos
- Markopolos book is a good road map for conducting due diligence, said Sam Jones of the CFA Institute’s board of governors.
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Copyright 2010 by Susan B. Weiner All rights reserved