Madoff Recommends Index Funds For Average Investors

Bernie Madoff, the convicted Ponzi schemer, recommends index fund as the best option for the average investor, due to lower commission and better professional management. Madoff, who founded Bernard L. Madoff Investment Securities LLC in 1960, is currently serving 150 years imprisonment for committing one of the largest financial frauds in the U.S. history. He escaped scrutiny from regulators and gullible customers. In his interview given to Market Watch, the convicted felon said securities regulators are grossly underequipped to police financial markets and hedge funds need to be registered and brokerage firms should have independent custodians. Madoff’s Interview Madoff has…