Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Sunday, October 25, 2009
Billionaire Madoff Investor Found Dead
New York Times is reporting that Jeffry Picower, a prominent philanthropist and one of the largest investors in the vast Ponzi scheme run by Bernard L. Madoff, was found dead in the pool at his Palm Beach, Fla., home on Sunday afternoon. Detectives remain on the scene. Mr Picower had a history of serious health issues. He also was in serious discussions with the trustee who is trying to recover Madoff money. Mr Picower supposedly took out $6 billion more than he put into Madoff investments.