Quote:
Originally Posted by Cowperson
Profiting from a Ponzi actually isn't that unusual.
You just don't want to be the last guy holding the bag.
Madoff's ponzi went on a staggering amount of time. Those who profited, I believe, are now being compelled by regulators through courts to surrender their profits. Owners of the New York Mets are one such scenario if I'm not mistaken. The surrendered profits will be used to make others whole - or more whole than they are now.
Madoff's ponzi was interesting because it didn't necessarily promise the big strike . . . . he was saying he was making 1% or so a month, which didn't sound compeletely crazy.
He was selling consistency and through almost 20 years, appeared to deliver.
Fear and greed are the primary drivers of markets. Emotions carry people away, particularly on the greed side.
No sympathy.
Cowperson
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Exactly! See how many people bail on their investments when the markets trends down. Don't they understand if they sell it realizes their losses. A lot of these people who dumped all their investments in 2008 would've made it all back + some more by now....totally irrational people. Yet these are the same people who have no issues getting a 500k+ mortgage.