Dec 19, 2008

Tips for Rich People


In light of Bernie Made-off's alleged $50B hustle I have created a list to help future rich people pick a money manager:

1. If your guys operation wreaks of chronisism and nepotism, don't give him your money.

2. If your guy wants your money but won't meet you in person, don't give him your money.

3. If your guys auditor has a degree from an online university don't give him your money.

4. If your guy simply gives your money to another guy to manage and charges you twice for the pleasure, don't give him your money.

5. If your guy gets between 15-22% per annum returns consistently, don't give him your money...this is a statistical improbability.

6. If you're greedy and want exorbitant returns, and you're lazy and don't want to do any due diligence, don't give anyone your money...you will lose it.