“ If Madoff got lucky and his portfolio doubled in a year, then he too would have been able to make customers whole.”
Maddoff didn’t have any portfolio since the late 80’s. So no trading, all fake records. Redemptions of principal and made up profits were paid with other customer funds.
Maddoff didn’t have any portfolio since the late 80’s. So no trading, all fake records. Redemptions of principal and made up profits were paid with other customer funds.