Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors.
What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...
This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?
For a full list of sources, see the show notes at timharford.com.
See omnystudio.com/listener for privacy information.
04/26/24 • 60 min
5 Listeners
Cautionary Tales with Tim Harford - The Fraudster's Guide to Magic Money
Transcript
Pushkin.
Speaker 2Hello, dear listener, Tim Harford, here have some very exciting news to share with you. On the evening of Tuesday, the twenty first of May, I will be bringing a special live edition of Cautionary Tales to the stage in London. There will be music, there will be actors, hello, and there will be plenty of hair raising, spine tingling, twists and turns. Tickets are on sale now through the
Featured in these lists
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/cautionary-tales-with-tim-harford-11736/the-fraudsters-guide-to-magic-money-49946099"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to the fraudster's guide to magic money on goodpods" style="width: 225px" /> </a>
Copy