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Madoff operated for close to twenty years before being exposed. He was regularly lauded for being the best by well informed people. What is an amateur supposed
by 0cf8612b2e1e 4y ago
Madoff operated for close to twenty years before being exposed. He was regularly lauded for being the best by well informed people. What is an amateur supposed to do?
If the argument is, “Nobody is that good, you should know better”, does that mean Buffet’s scheme will start crumbling any day now?
- deleted 4y ago[deleted]
- vkou 4y ago> What is an amateur supposed to do? You have two options. 1. Don't be unlucky. [1] 2. Or, you can make sure your society has socialized old age pensions, and that it puts in the work necessary to keep them solvent, and its citizens taken care of once they are past their working years. [1] The easiest way to not be unlucky is to buy into a boring, diversified index fund. Berkshire may be a fraud, but it's unlikely the entirety of the SP500 is.
- twixfel 4y agoWell yeah that's why Ponzi schemes suck. Why should it be acceptable to profit from a Ponzi scheme? It's not your money at that point, whether you realise it or not.