MONEY MANAGER EX UNEXPECTED ERROR SERIES

And none of the four seems to be publicly connected to the Madoff scandal. Morningstar found that of 1,227 funds of funds that have reported 20 consecutive quarters of results, only four have failed to report a single down quarter in that time frame. And many of the firms may be exactly what they purport to be: excellent, and perfectly legitimate, investors.Īmong funds of funds, or hedge funds that invest their money in other funds, such results are much more rare. To be sure, the time frame captured by the Morningstar data - the fourth quarter of 2003 to the third quarter of 2008 - was generally a good time to make money in the stock market - though it got much tougher in 2008. try use this code, I'm add isSynchronous true you can read this document isSynchronous.

MONEY MANAGER EX UNEXPECTED ERROR SERIES

Indeed, one of the funds is run by an executive who has faced a series of lawsuits. Pay your electricity bill, manage your account, and find ways to save money and protect the environment. “I’d look at that and say, ‘How could there not have been any down quarters?’ ” Payment Plans & Bill Assistance Residential Services. “It’s a red flag for me as a potential investor,” he said. Varnum says that’s suspicious on its face. That leaves 27 firms that have a five-year track record of gains and no known connection to Madoff.

And of those 34, at least seven funds, or their parent firms, are in some way connected to the Madoff scandal as investors in Madoff’s operation. Of those, Morningstar found 34 that have never reported a down quarter in the past five years. “There are probably a lot of shocks out there still to come,” said Michael Varnum, a former chief of the FBI’s public corruption and economic crimes programs who’s now a senior vice president at the private investigative firm Corporate Risk International.Īccording to research done by Morningstar Inc., there are 1,684 hedge funds that have disclosed their results for the past 20 consecutive quarters. Veteran fraud investigators, too, say they’re almost certain other financial frauds are waiting to be discovered. going to face one unexpected problem in 2009: More Bernard Madoff-style corruption.

“Unfortunately, when the tide goes out, you find out who’s swimming naked, and I suspect that Madoff was not the only one.” Bernard Madoff, money manager and accused mastermind of a 50 billion.

“History teaches us that if there is a gap in regulatory enforcement, there will not only be one offender that will be devious enough to slip through,” Bachus said. Spencer Bachus, R-Ala., says he’s confident there’s more bad news on the way. The ranking member on the House Financial Services Committee, Rep. But investigators and Washington officials say that they’re almost certainly going to face one unexpected problem in 2009: More Bernard Madoff-style corruption scandals. Barack Obama’s economic team, already reeling from the financial meltdown, certainly doesn’t need any more headaches.

Money manager ex unexpected error