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Learning From the Past and Common Cash Sense
12/16/2009
It was about a year ago when Bernie Madoff’s name began snaking its way into the mainstream public consciousness. As time is now beginning to heal the wounds, managers are beginning to carry out valuable lessons from the ordeal. One of the biggest: investors should never have their money managed by the same people who hold custody of it. “Madoff was the investment manager and his broker-dealer was the custodian,” writes ...
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