Madoff Lessons

Talking Real Money - Investing Talk

Don McDonald

Education, Business, Investing, How To

4.5 • 811 Ratings

🗓️ 9 January 2023

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have we already forgotten the lessons imparted by the 40-year Madoff scheme that collapsed in 2008? We revisit the unbelieveable story of the biggest investor robbery in history as a new Bernie Madoff documentary airs on Netflix. Plus, we hear from listeners: Should investment changes be made in a 529 plan? How is the impact of a existing IRA on a backdoor Roth? What is our opinion of a covered call writing fund? Then, we go on to explain what covered call writing is and how it works. Wh...

Transcript

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0:00.0	Reality Radio for a really great future.
0:08.1	We're talking real money.
0:10.8	Talking Real Money is brought to you today with limited commercial interruptions by Tom and Don and Bernie Madoff too.
0:17.4	Yes, Bernie Madoff, starring in the Monster of Wall Street on Netflix.
0:22.5	Don't make out, make off.
0:24.5	Make off, pardon me.
0:25.7	Don't make.
0:26.7	You know, you can't, it doesn't work.
0:28.7	Don't make off, make in, makeover.
0:31.5	I was thinking don't make out make off, but it's made off.
0:34.7	Yeah, but I do think that they should rename the Ponzi scheme because nobody, Ponzi better. Well, yeah. No, because it's a made-off scheme. It sounds better. Ponzi just sounds kind of, you know, it's a made-off scheme. In other words, he made off with your money. He made off with the money. Yeah, it does work. It has a ring to it hello everyone i'm don that guy over there is tom was he not here last week
1:00.7	i didn't remember you weren't here that's what he said when we were talking about was he here
1:06.4	i you know sometimes i just don't notice meaningful very meaningful yes Very meaningful. Yes. So he's here and I'm here. That makes two of us. And hopefully you'll be three of us when you call us at 855-935-8-25-8-25-5. 8-55-9-35 talk. And we're going to throw in a free t-shirt. No, we are not, no. Oh, are we? Let me restate
1:30.8	that. No, see, I refuse to bribe people. People love the shirts. Although I did, I did cut my
1:38.2	finger with a, with a, with it in the, I have not gone back to listen to and I've got to go back
1:44.0	and I got to tell you, that is a super absorbent t-shirt. It does staunch the blood. It just jam right into the wound there. Yeah, yeah. Telling you, it would be great. Those who listen to me. Maybe we should dedicate. No, it's not even funny. It's not even funny. I wasn't, I'm not going to say it. I was going to say they might be great in a war zone, but no, we have a war. It's sad.
2:03.3	Okay.
2:22.7	If we didn't have a war, it would be funnier, but it's not. There's always a war somewhere. Yeah, I guess. So call us 855-935-8-255 before you find yourself the victim of a too good to be true investment concept of some sort.
2:25.7	And folks, they still exist.
2:27.2	Oh, a lot of them.
2:27.9	They exist.
2:28.9	Many, many, many, many, many.
	...

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