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Subject: Harry Markopolos

Harry M. Markopolos or Harry Markopoulos (born October 22, 1956 in Erie, Pennsylvania) is a former securities industry executive turned independent financial fraud investigator for institutional investors and others seeking forensic accounting expertise. He has risen to prominence as an early and unheeded whistleblower of suspected securities fraud by Bernard Madoff, tipping off the United States Securities and Exchange Commission (SEC) repeatedly both orally and in writing starting in 1999, when he argued that it was not legally possible for Madoff to deliver the returns he had claimed to deliver.[Wikipedia: 2009]

Post Modern Security Analysis

Truth, fact, and opinion

University library + Internet = open source info

In security analysis, it is important to get the facts, before forming an opinion. Effective collaborative research calls for rigorous separation of the fact-gathering from the decision-making stages of the process. This article shows how fact-gathering of open-source information on the Internet could have saved investors from the Madoff calamity.

This is Part Eight in a series on Post Modern Security Analysis.

Featured articles on inside pages

Stock buybacks

Buybacks + options + hedge funds

Stock buyback programs are a legalized form of market manipulation, sanctioned under SEC Rule 10b-18 and that serve to drive up the price of a company's stock and to give false value to executive stock options.
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Securities Analysis

Innovative institutional research methods

The Crash of 2008 led to questions concerning the scope and quality of institutional investment research. The flood of open source investment data on the Internet presents opportunities to researchers.There are new ways to manage institutional research, including separation of fact-gathering from data analysis, out-sourcing, student-sourcing, and home-sourcing, financial taxonomy, and semantic wikis.
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US Politics

President Obama and the Lincoln Bible

The Crash of 2008 put Barack Obama in the Oval Office and was the culmination of two secular financial trends. Americans now have an untested, inexperienced leader, with strange radical friends and a leftist deficit spending agenda. More ...

US equities

GAO favors overly-optimistic projections

In a study of the effect of the retirement of Baby Boomers on the price of equities, the GAO assumed that equities will provide real returns of 7% over the next decades. This figure is often cited in Wall Street promotional literature, but has no scientific basis.
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US Bonds

Bond demand exceeds supply for a decade

Over the decade, 1995-2004, the demand for US bonds of all types has surpassed new bond issues in eight of the last ten years. This is the reason that bond prices have held firm, even in 2003, when net new issues reached almost $1.8 trillion. More ...

World Economy

What Is ‘International Liquidity’?

It used to be that the term 'international liquidity' meant the relative amount of resources available to a nation's monetary authorities that could be used to settle a balance of payments deficit. In the days of the gold standard, this would mean access to gold that could be used to redeem a nation's currency held by foreigners. More ...

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2010-09-23 17:30