There was a bit on CBC Sunday a week ago (or so) when all of this Madoff stuff was just hitting the fan, and they interviewed a head honcho from Calgary's First Capital. He said that he was approached by Madoff to invest in the fund and said that it was way too complicated for him to figure out how the fund was going to generate the returns that Madoff was promising, so he didn't put anything into it. He said that his first rule is that if it is too complicated to understand, he doesn't invest, and that he was glad that he couldn't figure this one out even though he felt really embarassed at the time for not being able to.
So, I guess if you had the benefit of speaking directly with Madoff, you might have been able to have a hunch that something wasn't right... I am with Macker a bit in that the managers at MacKenzie probably could have worked a bit harder to understand something that they were putting 20% of their assets behind (other than a guy's reputation).
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Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
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