- Successful management of a $50 billion portfolio
- Ran fund for 3 decades
- Prior experience in Ponzi Schemes
After all, Social Security is THE largest Ponzi scheme of all. Wikipedia defines a Ponzi Scheme as:
A fraudulent investment operation that involves paying abnormally high returns to investors out of the money paid in by subsequent investors, rather than from the profit from any real business.
Say no more. Every older generation requires increasing numbers of younger generations to pay ever greater sums of money into the fund to keep it solvent.
That said, I realized that Life is actually the ultimate Ponzi scheme, and Reproduction is the means by which it works. Young people must reproduce to keep the older folks solvent and alive.
This whole Madoff thing. What are people complaining about?