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Law Humor

: Bernard Madoff

Chanukah Brings Madoff Victims More Gelt In Recoveries; 1% Checks Delivered

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From: Bernie Madoff
To: Former Customers

Happy Chanukah...Although the news media has somehow failed to jump on this story, by now you should have received a nice recovery check in the mail courtesy of bankruptcy trustee agent AxialPartners.

I'm not recommending that you invest the 1% of your net loss amount check in Oil futures, stocks, or some of those wacky-ass Energy "MLPs" that have just given up 50% of their NAV in the past 3 weeks. And if you had money with that FO in CT that is telling clients they should double down on the investments he made for them, its going to take a long time to get even.

Despite all of the obvious negatives, I'm hearing that Uber is "very interesting" to top hedge fund folks, including 2 big ones who turned down the very recent chance to exit their first round investment at a $40bil valuation. Despite their 4x return in 2 years, and despite all of the known headwinds this company is facing each day.

BLM

Full post as published by Bernard Madoff on December 19, 2014 (boomark / email).