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Madoff never filed more tha 1 Billion in his 13F filings. Something really doesn't add up.
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@cgerrish He claimed that he liquidated most investments at the end of each quarter.
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@danmactough But how do you lose 50 Billion if you keep the totals below 1Billion?
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@cgerrish That $50 B was over many years. Somehow (and this is an impressive feat) he was able to sustain payouts while losing money.
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@cgerrish If you can figure out the Madoff thing you'll be 10 steps ahead of most.
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@cgerrish we had a guy out here do the same thing...assume the filings are incorrect, and that it was a pyramid.
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