Yet another celebrity gets scammed. Why don't these people ever learn? Simple check of the 5 inviolable commandments laid out in my book would expose 99.9% of all scams before they happen. Yet investors ignore the fundamentals of investing and instead rely on their friends and cronies for advice.
The 5 Inviolable Commandments of Investing:
1. Make sure there is an independent world class auditor verifying the returns
2. Independent custodian holding your assets
3. Independent prime broker executing the trades
4. Monthly valuations doen by an independent administrator
5. The manager has the requisite education and trading experience
http://www.cbssports.com/mcc/blogs/entry/22748484/33001781
The 5 Inviolable Commandments of Investing:
1. Make sure there is an independent world class auditor verifying the returns
2. Independent custodian holding your assets
3. Independent prime broker executing the trades
4. Monthly valuations doen by an independent administrator
5. The manager has the requisite education and trading experience
http://www.cbssports.com/mcc/blogs/entry/22748484/33001781