Don't Ask

In a now much-cited 2001 article (MAR-Hedge (RIP) No. 89 May 2001) raising questions about Bernard Madoff's improbably consistent rates of return, here's how Madoff himself addressed doubts by many in the industry who said his numbers just didn't add up ...

Madoff, who believes that he deserves "some credibility as a trader for 40 years," says: "The strategy is the strategy and the returns are the returns." He suggests that those who believe there is something more to it and are seeking an answer beyond that are wasting their time.