Yeah well my hedge fund will only be open to rich jews. I do it out of principle and respect for their religion of course.
Just take a lot of Jesus and hedge it with a lot of Lucifer. Just in case it is he who wins... As they tend to have a negative correlation, you will have to go long or short with both at the same time. It's easy. BTW you could try to build both of them over synthetics...
Not really. the ground floor "investors" made a mint. He appears to have targeted large institutions and private wealth in the later days. Those are the entities who took the hit. The vast majority made money.
At the beginning most of his "investors" were small retail. The last decade or so is where he started fleecing large private wealth managers. small initial "investors" like his son who "invested" $40 and took out more than $10 million made out like bandits. The scam was no larger than 10 Billion in losses. Which is still quite large and shows how NYC and large money in America operate and the glaring fact that they are above the law and immune from any prosecution. More deals are made in their kids bar mitzvahs than in the board rooms. What madoff showed is the cancer is larger and more wide spread than anyone originally thought.
I am guessing that those who had applied for redemption requests would have been casted as sinners and thrown in hell for all eternity. It's Jesus's money after all. Cheers, Max