The Seduction of Smooth Returns
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Interesting article i came across..
The recent case of Bernie Madoff, former chairman of NASDAQ, accused of running the biggest Ponzi scheme in history, has no doubt, sent tremors throughout the financial markets. The sheer enormity of the scam, to the tune of USD$50 billion, is mind-boggling.
How did wealthy, sophisticated, individuals, professionals in their own right, and occupying prominent positions in the highest echelons of society succumb to such duplicity?
The single, overriding factor that made Madoff's investment vehicles attractive was the metronomic uniformity in their performance. One of his funds, Fairfield Sentry Ltd., reported annual returns of between 8 percent and 18 percent every single year. Now we know it was all a facade. The US government says Madoff was paying off early investors with the funds incoming from later investors.
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In time ppl will equate CPF with Ponzi Scheme.
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Originally posted by maurizio13:
In time ppl will equate CPF with Ponzi Scheme.
Worse than that...
1st - forced
2nd - What returns?
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Originally posted by AndrewPKYap:
Worse than that...
1st - forced
2nd - What returns?
at least on paper lah..
want to get back your CPF--
1.Kick PAP out by ballots or bullets
2.Return your passport then u can shake legs with few gals in Thai
or buy a pigeon hole in Japan!!I know u have billlion is Swit banks.
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Originally posted by lionnoisy:
at least on paper lah..
want to get back your CPF--
1.Kick PAP out by ballots or bullets
2.Return your passport then u can shake legs with few gals in Thai
or buy a pigeon hole in Japan!!I know u have billlion is Swit banks.
accuse me sir, why must you shake legs with a few gals in thai, why cannot singapore gals meh?? u can alway come back as PR or workpermit holder and still can live or live better than now.