Implicated in a $50 billion Ponzi scheme, at a 2007 roundtable discussion with Justin Fox, Ailsa Roell, Robert A. Schwartz, Muriel Seibert, and Josh Stampfli.

These are some excerpts featuring Madoff, recently implicated in a $50 billion Ponzi scheme.

The full video is here

Category: Legal, Regulation, Video

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8 Responses to “Bernie Madoff on the Modern Stock Market”

  1. blackbox says:

    Seems like a nice guy, I wonder if I can get in on this…

  2. KJ Foehr says:

    What jumps out at me from the video is his emphasis on reducing the number of people involved in the trading process.

    The fewer people, the easier it is to circumvent internal controls, and to commit and hide fraud.

    He also advocates buy and hold, which, obviously, enables a ponzi scheme to continue.

  3. retrogrouch says:

    Did you get the emcee says 10% of stocks traded are going through this firm?!

  4. SteveC says:

    I can tell within 2 minutes these guys were full of shit. Amazing that so many wealthy people trusted their entire net worth with them. Rule 1: never invest in something you don’t understand Rule 2: If something seems too good to be true, it probably is.

  5. Simon says:

    Madoff …pronounced Made Off!!! .

  6. albnyc says:

    @Simon:

    Was thinking just the same thing! How Runyon-esque.

  7. the0ther says:

    the sound of this guy’s voice is like a water truck colliding with a vinegar truck.

  8. mknowles says:

    The title of the video on youtube is “The Future Of The Stock Market” and it was shot October 20, 2007, so the future they speak of is now. I thought the remarks about herd behavior in the stock market were interesting, also, someone said that people who provide capital are dogs – I guess that means their clients are dogs. Toward the end, the older lady (is it Muriel? The woman who bought her own seat in the 60′s) she says she would like to see more transparency, especially for hedge funds, she wants to know how much they are leveraged. They also talked about some institutions being leveraged as high as 12:1 as if that was a high number (well, compared to 30:1…).