« Our "Patently Absurd" Patent System | Main | "Entrepreneurship is the Creation of Surprises" »

Medoff Swimming Naked

BedoffBernieSwimmingWithoutSuit.jpgBernie Medoff, and friends, swimming naked. Source of caricature: online version of the NYT article quoted and cited below.

The article quoted and cited below, is most notable for the wonderful illustration of the famous Warren Buffett quote on how hard times reveal who has been prudent and who has not been prudent.

(p. 19) Though we may be caring less, we're hearing a lot more about Ponzi schemes lately, perhaps because the scams tend to fall apart when markets drop. As Warren Buffett so memorably put it, "You only find out who is swimming naked when the tide goes out."

For the full commentary, see:

JOHN SCHWARTZ. "Lost in Bernie Madoff's Shadow." The New York Times, SundayBusiness Section (Sun., April 11, 2009): 19 & 24.

Post a comment

(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)


The StatCounter number above reports the number of "page loads" since the counter was installed late on 2/26/08. Page loads are defined on the site as "The number of times your page has been visited."

View My Stats