Originally Posted by
RobPorsche
Amen. With the amount of money that some of the people already had that were investing with this guy, they could have just as easily dumped all of their capital into something as pathetic as a GIC and lived off the interest from that. Greed and ignorance led to the financial ruin of many of these investors. It only goes to show that one needs to do all of their homework prior to making any kind of investment. Its a very general rule and goes for everyone. If an organization refuses to be transparent, thats probably a good hint that you should run, not walk, in the other direction.
One of my favorite quotes from Warren Buffet goes as follows:
"Risk comes from not knowing what you're doing"
And this excuses the theft of $65 billion USD?
Faster, faster, faster, until the thrill of speed overcomes the fear of death...
– Hunter Thompson