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re: Bernie Madoff or Other Ponzi Scheme Question
Posted on 1/15/24 at 10:11 am to tigerforever7
Posted on 1/15/24 at 10:11 am to tigerforever7
Madoff assets were specific to Madoff. You couldn't buy them at other investment firms. It wasn't like transferring SPY from etrade to Schwab. They would've had to sell, pay the applicable taxes and then transfer the cash.
1
Posted on 1/15/24 at 10:28 am to FinleyStreet
quote:
They probably only gave them the option to move cash
Thank you for the responses. Moving to my first question , if I use a Financial Advisor with a large , pretty well known institution, should I have confidence the investments are invested accordingly? Do any of you ever worry about this? How do you feel more secured?
Once again, I have no reason to think the investments have not been invested accordingly, it is just a natural worry of mine trusting someone with a large sum of money.
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