gtblum Posted January 9, 2009 Report Share Posted January 9, 2009 Looks like Bernie Madoff with my pension. http://www.9wsyr.com/mostpopular/story/ ... wcKrA.cspx Link to comment Share on other sites More sharing options...
Scottpat Posted January 9, 2009 Report Share Posted January 9, 2009 Just received our year end statement from UBS, and with out the help of Bernie my wife and I lost around $88,000 in our retirement account. Not as bad as I thought it was going to be, in fact it even gained a little back the last few weeks of the year. Link to comment Share on other sites More sharing options...
Jim Morrison Posted January 9, 2009 Report Share Posted January 9, 2009 Wow. Only $88K? You're lucky, Bro. You'll make that back in 3-4 inspections. Link to comment Share on other sites More sharing options...
Terence McCann Posted January 9, 2009 Report Share Posted January 9, 2009 Originally posted by Jim Morrison Wow. Only $88K? You're lucky, Bro. You'll make that back in 3-4 inspections. 5 at tops. Link to comment Share on other sites More sharing options...
Richard Moore Posted January 9, 2009 Report Share Posted January 9, 2009 I saw this posted elsewhere... "This is worse than divorce. I've lost half my net worth and I've still got the wife!" Link to comment Share on other sites More sharing options...
Jeremy Posted January 10, 2009 Report Share Posted January 10, 2009 Guess the union doesn't know much about diversification. I'd be curious of the 50 million that they're not sure is lost or not. Link to comment Share on other sites More sharing options...
Chad Fabry Posted January 10, 2009 Report Share Posted January 10, 2009 Guess the union doesn't know much about diversification. In my experience, unions are attracted to guys like Madoff like matter is attracted to a black hole. If your portfolio is out performing every other portfolio by, oh say 50%, it should make you stop and wonder why other folks don't make the same investments. Link to comment Share on other sites More sharing options...
gtblum Posted January 10, 2009 Author Report Share Posted January 10, 2009 Originally posted by Chad Fabry Guess the union doesn't know much about diversification. In my experience, unions are attracted to guys like Madoff like matter is attracted to a black hole. If your portfolio is out performing every other portfolio by, oh say 50%, it should make you stop and wonder why other folks don't make the same investments. That's the 500 billion dollar question now isn't it? Where were you two guys when all those silly money managers needed you? I bet Stevie Spielberg wishes he would have checked with you first. This guy duped some of the smartest people in the business and I'm sure he did it with the promise of diversification. I may be one of the lucky ones. I took my annuity in October when the shit was hitting the fan and before they froze the accounts. Meanwhile back at the penthouse, this cat is wearing an ankle bracelet instead of stripes. Here's an acronym for you W T F Link to comment Share on other sites More sharing options...
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