Marketwatch and Madoff investment by columnist: An ethical issue?

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1 Response

  1. clotilda says:

    Not all in this Madoff mess were rich or greedy, just hard working people who saved all their lives. Losing faith in market,funds, brokerage accounts and banks it seemed a conservative approach, at least to the unsophistocated investor. In our 60s and 70s now , we put our entire pension, IRA and savings with our long term friend (who helped get us into the fund as we did not meet the threshold of $2m) we eventually lost all $4m and that was grew not because of BIG gains rather by our continued contributions and few withdrawals. Our total investment was $2.8. The only withdrawals were for mandatory retirement at 70 1/2, and we took the minimal. We have a severely handicapped daughter who requires daily care for rest of her life and that money was to give us peace of mind that she would be cared for when we could no longer do it. We were not greedy, we were stupid, we believed we could trust people. We are both educated professionals who spent our time on OUR jobs and left the money management to who we thought were Professionals.

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