A thrilling story....A story nobody would bother to listen when Harry Markopolos and his team uncovered what Madoff was doing...
Harry Markopolos is a hero in this context... An initial "Quant" from Boston, who started the whole investigation innocently after being forced to create the equivalent model to match the performances by Madoff.... Life is funny at times. Most of the times, the initial intention is nothing related to the final consequences. Obviously, Harry Markopolos went through the whole process in danger zone. After all, he is trying to stop more peoples from helping Madoff into digging a bigger gold mine...
In the whole story, no one seems bother to listen.... Of course, SEC included. It reminds me of my last invited discussion with our own SC in regards to gold issue after the famous G brand gold business uncovered. Ignorant is the best word to describe the whole thing. End up, several months pass through and I still did not see anything fruitful. Meanwhile, similar things happened with our local adjustments in regards to margin requirements (FKLI & FCPO). Last year was a very good example. A full volatile year was met with minimal adjustments. As Frank Casey pointed out in the book, Mother Teresa did not work on Wall Street. Obviously, Mother Teresa is not found in Malaysia financial world too, LOL.
Overall, reading this book is very relaxing although it involves tons of financial wordings. End of the day, the author successfully brought to us a well-written thrilling story with a lot of charms and humors. As such, it is attractive from the first read on first chapter. I am quite busy for the past few days. However, this book remains my priority whenever I have time to sit down and read a book. After all, it is hard to get a book with interesting, yet educating story to explore on....Having said that, I am rating this book at 10/10. Well done to the authors for being a whistleblower as well as an excellent author in presenting such a nice book. Thumbs up!
Harry Markopolos is a hero in this context... An initial "Quant" from Boston, who started the whole investigation innocently after being forced to create the equivalent model to match the performances by Madoff.... Life is funny at times. Most of the times, the initial intention is nothing related to the final consequences. Obviously, Harry Markopolos went through the whole process in danger zone. After all, he is trying to stop more peoples from helping Madoff into digging a bigger gold mine...
In the whole story, no one seems bother to listen.... Of course, SEC included. It reminds me of my last invited discussion with our own SC in regards to gold issue after the famous G brand gold business uncovered. Ignorant is the best word to describe the whole thing. End up, several months pass through and I still did not see anything fruitful. Meanwhile, similar things happened with our local adjustments in regards to margin requirements (FKLI & FCPO). Last year was a very good example. A full volatile year was met with minimal adjustments. As Frank Casey pointed out in the book, Mother Teresa did not work on Wall Street. Obviously, Mother Teresa is not found in Malaysia financial world too, LOL.
Overall, reading this book is very relaxing although it involves tons of financial wordings. End of the day, the author successfully brought to us a well-written thrilling story with a lot of charms and humors. As such, it is attractive from the first read on first chapter. I am quite busy for the past few days. However, this book remains my priority whenever I have time to sit down and read a book. After all, it is hard to get a book with interesting, yet educating story to explore on....Having said that, I am rating this book at 10/10. Well done to the authors for being a whistleblower as well as an excellent author in presenting such a nice book. Thumbs up!
Bro, finally an english version of your writing! Can see that your love for volatile markets has never changed . Recently, busy spending time with Alexis ?
ReplyDeleteYoo, Zac...
ReplyDeleteHa, you just do not see anything interesting with my Chinese books... LOL
No, bro... Alexis herself busy with kindergarten stuff this year... I expand into something new this year (although still in the same industry)... That is why I am busy at times (and that is why I need to terminate my FB too, LOL)... Well, we just can't do the same thing every year... Changes or additional changes are the most amazing part of life... Cheers
Rgds,
Alex
yo alex, im wondering if it is ok to do trend trading for overseas markets by using our local investment bank eventhough the transaction cost is high ?
ReplyDeleteBro... Compares to those days, I think the transaction cost very much lower although it could be lower with current competitive environment ...
ReplyDeleteJust my 2 cents...
Oppss, forgot to answer u, LOL.. The answer is yes
ReplyDelete