The noose is getting tighter…
Another day, another hedge fund, or, in this case, more than a dozen hedge funds that are involved in the insider trading scandal. The news seems quite bleak. It appears that these so-called Wizards of Wall Street are nothing more then a bunch of people who play a very expensive game of telephone.And while one, two, a dozen bad apples might not ruin a crop, or the industry – friends, this continued negative news about alternative investmentmanagers is not good. The madness needs to end. Read the latest on the scandal here. THINGS THAT DRIVE ME CRAZY: Two words – Insider Trading
Ignorance is not bliss…
The recent news that New York Mets’owners Fred Wilpon and Saul Katz usedBernie Madoff as their banker du jour is funny and sad at the same time. To be frank, I have never liked the Mets, particularly after the 1986 World Series when they beat my beloved Red Sox, but putting that aside for the moment, how is it possible that two very shrewd real estate investors could have put so much money and faith in the swindler of all swindlers? I just don’t get it. I mean, really, are people just that gullible or ignorant? I guess the answer, unfortunately, is “You betcha.” Read the story here.