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Bernard Madoff Essay

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Bernard Madoff Essay
I think Bernard Madoff was able to woo the wealthiest and most intelligent clients because he had a flawless reputation on Wall Street. He also served as chairmen on the NASDAQ stock exchange and his investment company was ranked as “one of the top market makers in NASDAQ traded stocks” (Gregoriou & Lhabitant, 2009). Due to Madoff’s investment company being very successful, he was able to build close friendships with wealthy influences businessmen in New York as well as other parts of the world and due to his investors receiving nice returns, Madoff’s investors would recommend others, which helped in getting more elite investors. When Madoff was recommended to others, he was very selective, because he only wanted people that were very wealthy.
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