Originally Posted by Double Barrel
yep. Nobody would feel sorry for me if I go bankrupt by letting morons handle my finances. Why should VY be any different? Because he's an entertainer?
Beside, dude has a college education, so he should have some smarts about it.
If it's any consolation, I would feel bad for you if you lost all your money to an unscrupulous financier. Nobody deserves to have their hard earned money stolen from them.
Originally Posted by 2012Champs
You take even bigger risk when you go with small fry advisors. If you work with a financial advisor at a big broker and they steal from you the firm pays you back. If your advisor owns his company, steals all your money and spends it then there isnt anything to get back. The same thing goes for CPAs and so on.
Both investors of Madoff and Stanford fall under the same opinion that I have of Young's situation ignorant, greedy or both. I dont feel sorry for the Stanford investors whom were putting money into CDs at 6-10% interest when the rest of the market couldnt pay 1-2% And with Madoff he had only 2 down months of investing out of 100+ month with the largest down month being 0.5% which is an impossible trading record but his investors didnt care, they just wanted the fake returns.
So the answer is blame the victims for trusting their hired financial advisors? Jesus christ you people are rough.