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I had been looking into writing about hedge funds more in two thousand one
they were not as well known as they are today
we read about hedge funds in the papers all the time
there was a recent insider trading case against galleon which has been in the headlines
some of the other well-known hedge fund managers include George soros but
really back in two thousand one
there were few household names
among hedge funds
maybe George soros
yeah julian robertson correct maybe one or two others that's it that's right
Jeff Vinik former fidelity
fund manager started one of the first hedge funds in the nineties
I really wanted to write about a
hedge fund manager who no one knew about
and %uh
I had been asking around everyone to everyone I could think of on trading floors and
any source who I could think of
who should I write about and
finally I got a
tip from a guy who was an equity derivatives
trader and strategist
and he said he should really look into this guy Bernie Madoff
%um
so I spent the next you know
weeks and months
asking everyone I could what they knew about
Bernie Madoff
and really all I could find out was
everyone on Wall street knew who he was because he and his brother ran a very successful
brokerage firm
very much like a Charles schwab or what we know today as e-trade or Ameritrade 0:01:39.770,0:01:40.480 and
at one point to think they were trading ten percent of all the volume all
the the purchases and sales on Wall street
they were wealthy men already
%uh so
that's what intrigued me to begin with was that
why would they bother running this
billion dollar hedge fund
and the key to the story was that supposedly the fund had never lost money
that's how I got started looking into
Bernie Madoff