|
|
|
|
|
|
by mathattack
4551 days ago
|
|
|
going long the general market on roughly a 1.1 to 1 ratio I don't think they could have hedged this way. Madoff's volatility was too low, so there weren't comparable instruments. The only options were investing in Madoff himself, or not hedging on the assumption that it would blow up sooner rather than later. |
|
|