Wow, How Many Of These Guys Are Out There?!

[Parsad]

A bank fraud charge for one guy, and near the end of the article another ponzi scheme that was caught back in May.  Geez!  Cheers!

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aRJzVy_8GrIM

[WideMoat]

And the bezzle continues to shrink...

 

http://market-ticker.denninger.net/archives/857-The-Bezzle-Defined.html

[mpauls]

The bulk of people controlling capital allocations are damn fools. Due Diligence is a catch phrase.  It's the quality of the person's knowledge that's important when evaluating situations (or money managers) not the consensus, "best practice" procedures. 

[bookie71]

Due diligence to most of these characters means, "See which product has the best commission."

[returnonmycapital]

Mpauls, absolutely. Unfortunately, the regulators, as much as I feel for them, do not dare institute "spirit"-based rules. Instead, relying on "to the letter"-rules which make us all sound like we are out to make money off of investors instead of for them, or even better, with them.

[SharperDingaan]

 

Keep in mind that the worst deal in the world will still get done, provided the fees are high enough. Then add to it that there is no such thing as a bad deal - just a bad price.

 

There is a reason why you do your own DD.

 

SD