Reddit reviews No One Would Listen: A True Financial Thriller
We found 5 Reddit comments about No One Would Listen: A True Financial Thriller. Here are the top ones, ranked by their Reddit score.
They don't even care then, see:
https://www.amazon.com/No-One-Would-Listen-Financial/dp/0470919000
The reality is that there are not enough prosecutors (by an order-of-magnitude) to effectively police this stuff. So violent crime gets the priority.
He's a really cool dude. He wrote this book, and I had the pleasure to hear him speak. He recalls being afraid for himself and his family in the years leading up to the arrest. He asked the small town police force to check in on his house, and they used to drive by often. He was a huge library supporter, and very down to earth and generous. He also had a bottle of water during his speaking engagement that turned out to be gin!
> Huge Corporations that no one would imagine would ever fall, encouraged many investment firms to put huge amounts of their clients retirement funds into the company, only to be shocked when overnight the Corporation filed bankrupt and closed
Er, that happened in some cases, but in many cases it was caused by clearly illegal Ponzi schemes, con-artists, etc. Like Bernie Madoff.
Speaking of that worthless piece of trash, the book by Harry Markopolos, "No One Would Listen: A True Financial Thriller"
https://www.amazon.com/No-One-Would-Listen-Financial/dp/0470919000
Is a fascinating read. If I recall correctly, Madoff was at least partially responsible for that 2008 - 2009 meltdown of Wall Street - well, him, & the refusal of most so-called financial experts to see the huge problem with his scams.
Might also want to check these out - I just found them, & am looking forward to reading them:
http://www.npr.org/templates/story/story.php?storyId=124208012
https://www.theguardian.com/business/2010/mar/24/bernard-madoff-whistleblower-harry-markopolos
http://abcnews.go.com/US/bernie-madoff-sleuth-harry-markopolos-warns-ponzi-scams/story?id=36578436
Not sure if this is the report filed anonymously by Markopolos, but it lists multiple red flags which indicated the dishonesty of Madoff's schemes:
http://online.wsj.com/public/resources/documents/Madoff_SECdocs_20081217.pdf
Anyway, the past teaches us what to beware of in the future. False prophets are everywhere - in religion, Wall Street, politics, and more.
>So I really don't put to much weight on so-called experts on cults who say a cult will last forever, heck I don't even put that much weight on our expert weatherman, he's right only about 50% of the time.
>I wouldn't be surprised if WT fell overnight for some reason we never even anticipated.
I would LOVE to see that! Just not going to get my hopes up, because I don't like being disappointed.
The book "No One Would Listen" was written by Markopolos himself. I'll admit though, I have a degree in Economics and some of the Wall Street products he would talk about would slow me down to look up certain investing terms. Needless to say, you will learn a lot about how Wall Street works and why federal agencies like the SEC are full of chodes.
I learned, which I know sounds like a cop-out answer.
If you want to understand the markets, learn psychology. You will be surprised by how emotions drive people buying and selling stocks. Here is a great example from the movie Trading Places. Honestly that movie gets a lot of things right, this is another great scene in the movie.
Being able to learn and being able to be wrong. Everyone says this but if you hate Trump I would ask you what are the good things Trump has done. Same thing if you hate Obama, I would ask you what good things he had done. I would give you a few days to come up with some answers. How many people do you know that would never say a good thing about either one? Realizing you are wrong and being able to learn why you were and improve is something that most people will avoid. People will rather choose to believe they are right they learn that they are wrong and learn what is the right answer.
17.When I employ people as advisors, I will occasionally listen to their advice.. Rules for an evil overlord. Rather obvious but listen to peoples advice but always be cautious. It is usually best to be able to read their advice and look at it logically. Compare it to other people advice as well.
If you liked the movie "The Big Short" I would suggest "No One Would Listen". It is about a quant trying to warn the SEC about the Bernie Madoff Ponzi scheme.