The News Review:
- Connecticut investment firm stung by Madoff ties
- Investing in BRAC
- The Return of Missionary Position Investing: What to Buy in a …
- Fantasy investment application FSX getting real
- Norwalk businessman indicted in alleged $62-million investment fraud
- Most coaches aren’t worth investing in
Connecticut investment firm stung by Madoff ties
The Associated Press
11 2008 accused of running a phony investment business that lost at least $50 billion and amounted to nothing more than a "giant Ponzi scheme. (AP) — One of the biggest losers in Bernard Madoff’s alleged ponzi scheme is a Connecticut-based investment firm started in the early 1980s by a well-connected Greenwich banker. Fairfield Greenwich Group says it invested $7. 5 billion with Madoff who prosecutors say concocted a $50 billion scheme to defraud investors including the world’s big banks and the rich and the famous. Madoff worked with Walter Noel Jr. who heads Fairfield Greenwich and invested his own money with Madoff.
Investing in BRAC
Baltimore Sun United States
Brown the state’s point person on BRAC says Maryland hopes to leverage about $150 million in development through its $5 million investment in infrastructure projects in the BRAC enterprise zones. Local governments also are expected to contribute to the projects. Baltimore will borrow $160 million to help finance the construction of roads and other infrastructure for the Westport project loans it will repay with property taxes generated from the development. But the real bonus here is the military and contracting jobs that are relocating to Maryland. They are predominantly in the technology and engineering fields the kinds of jobs that fit Maryland’s work force – educated and professional.
The Return of Missionary Position Investing: What to Buy in a …
Huffington Post NY
What I really don’t understand is how a person can wake up in the morning knowing that he has been robbing his very closest friends and charitable institutions and has left many of them destitute. But for all of the questions that remain about the Madoff meltdown some things already seem quite clear. Even before this episode investors were clearly losing their appetite for the esoteric and exotic investment approaches of hedge funds. The massive redemptions that have taken place were actually the cause of Madoff’s demise. He had to come up with $7 billion by the end of the year and as we now know he didn’t have it. Investors have been moving to the sidelines to a record extent and piling up cash like firewood by the stove. Opportunities are being created and the next bull market will benefit from people chasing performance again.
Fantasy investment application FSX getting real
San Francisco Chronicle USA
tmpl –> He had been looking at reports from his mother’s mutual fund and thought he could do better than the professionals. His application called FSX built a following on Facebook and later on MySpace and has been used to create more than 350000 fantasy investment portfolios. Recently however FSX’s users discovered that FSX is about more than just fantasy. Today Carroll and his colleagues will announce that the software has been renamed and is the basis for a startup KaChing backed by some of Silicon Valley’s most prominent investors – Benchmark Capital partner Andy Rachleff Netscape founder Marc Andreessen and former PayPal President Jeff Jordan along with Kleiner Perkins Caufield and Byers and HRJ Capital in Silicon Valley. The virtual investing will continue at KaChing and will be free but by mid-2009 investors on the site with yearlong track records acceptable to KaChing will be able to collect commissions investing real money belonging to others. The commissions will be shared with KaChing which is now registered as an investment adviser with the Securities and Exchange Commission.
Norwalk businessman indicted in alleged $62-million investment fraud
Los Angeles Times CA
a real estate brokerage and mortgage lending company in Huntington Park. In 2006 he started telling his mortgage clients that he could help them invest their money in real estate according to the indictment. He started advertising in Spanish-language magazines and on the Internet and held weekly investment seminars promising returns of 84% a year. The indictment contended that Best Diamond bought very little real estate and instead used the investments from later investors to pay “profits” to earlier investors a classic Ponzi scheme. “This is a very large and very serious case in particular for the investors” Assistant U.
Related from Aviationmonster: SC Couple Indicted For Aviation Parts Fraud
Most coaches aren’t worth investing in
FOXSports.com
It could’ve been done before last Friday night’s game vs. the Cavaliers of course but that would’ve meant interim Tony DiLeo beginning with a sputter. More from the New York Post.