The Anti-JP Hayes
I wrote a while back about the integrity of JP Hayes. I’ve found an antidote to him, if you want one.
Bernard Madoff, former head of NASDAQ, widely respected big-time money manager, has recently been uncovered as a fraud. He admits that he defrauded folks of about 50 billion dollars. He received millions and millions of dollars from very rich people (and foundations) and made it appear he consistently got 12-14 % returns. This occurred year after year after year in the world’s largest known Ponzi scheme. No one seemed to think this was unusual enough to blow the whistle. (In case you don’t know, investments don’t work this way. No matter what you invest in, you shouldn’t get consistent returns. Beware someone who says they will or have!)
The clue to his swindling nature was in his handicap scores.
Bernie Madoff's Golf Scores
Look at those scores. Remarkably consistent! Even when he didn’t play much between December 98 and May 2000, he still shot in the 80’s. No one has that much consistency – at least, no one who is a 10 handicapper. Their scores should have much more variability. That doesn’t mean he didn’t shoot those scores – he just may not have reported the worse ones.
I wonder if his club’s pro realized he was a cheat.
Golf really does reveal a lot about the man.
