Exactly how big is Madoff securities?

Discussion in 'Wall St. News' started by western, Dec 11, 2008.

  1. western


    This seems like a pretty big news story, the reason why the ES futures are down 10 in afterhours. I'm not familiar with these guys, but according to the news reports they are a big stock market maker and the fraud is in the "billions". Anyone with more info?
  2. fucking assholes

    this country's completely dominated by crooks
  3. does anyone know what exactly he was doing?
  4. taleb31


    I have heard roughly $20B in investor assets
  5. taleb31


    Printed very steady returns in every kind of environment, with a huge asset base. A few people I know have viewed it as a ponzi scheme for a long, long time.
  6. Yea well when I got the presentation maybe about 18 months ago it was for something they called the split strike strategy which basically was buy a S&P collar against a portfolio of stocks. They said it only executed once in awhile like 5 or 6 times a year. They raised all the $$ through marketers and you couldn't meet a pm or Madoff. I met a risk control guy from some office in Bermuda. The returns were low a few double digit years but a long track record and well established with a lot of fof. $20B seems right. They said Madoff securities was one of the largest otc market makers and the managed money was only part of their business. I had never heard of him before.