6min chapter

Chat With Traders cover image

253: Patrick Boyle - Lessons from Financial History and False Expectations in the Markets

Chat With Traders

CHAPTER

Is Bernie Madoff a Scam?

When the Madoff meltdown occurred, I was fascinated by it. His promised return was, I think, 12% a year over a very long period with pretty much no volatility. But there were still things that kind of, I go through an example with my students to say, what could someone who understands derivatives know that would highlight that this was a scam? It's possible that some investors thought that Bernie was ripping off his brokerage customers and putting the profits in their own pockets.

00:00

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.
App store bannerPlay store banner

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode