Tuesday, March 30, 2010

Tweets on talk by Harry Markopolos, Madoff whistleblower

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

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