ljh.com/documents/JimHedgesB … candal.pdf [adobe acrobat required]
“Living to Tell About Madoff,” an interview with James Hedges (not, I assume, a stage name, although in the circumstances it ought to be), “president and founder of LJH Global Investments in Naples, Fla., who has invested billions in hedge funds and private equity since 1990 through relationships with numerous hedge funds.”
Eleven years ago, Hedges spent two hours meeting with Madoff in his New York office planning to invest a few billion dollars of his clients’ money. He walked out without a deal.
Here are some of the reasons why. If you read to the end, I promise I’ll tell you why this is germane to what you do.
“I was told it was unusual for him to meet with anyone for that length of time, and that he was perturbed with the process. His whole tone during the meeting was curt, truncated, and he volunteered nothing. It was an extraction process to get him to answer anything. He was distracted the whole time, looking at people out on the trading floor through the glass wall of his office. Mind you, I was coming in to potentially invest billions of dollars for prominent families and institutions, representing extraordinarily well-known clientele. I couldn’t be more the type of person for whom you would open up the kimono. And what it told me was that it was a fraud, full-stop. It was wildly impressionable on me *. I have said over the years to many people: Do not touch Madoff with a barge pole.”
mod edit: please include links and do not quote entire articles.