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principal -- they probably thought their accounts were worth considerably more due to accumulated returns.
by zatertip 5y ago
principal -- they probably thought their accounts were worth considerably more due to accumulated returns.
- mumblemumble 5y agoMatt Levine recently observed, when talking about another Ponzi scheme, that it would be nice if newspapers would quote the net and not just the gross. Though that wouldn't tell the whole story, either. You would have the earnings of people who managed to get out of the scheme before it collapsed offsetting the losses of those who didn't. You're also not taking into account the opportunity cost of having that money in the Ponzi scheme instead of, say, VTSMX.