Originally Posted by Balance Haha - tell it to those who paid $1.00 into BRM and are still out of pockets. It is all about the fees, nothing more and nothing less. Heck, people thought Madoff was a great guy and a great philanthropist! Discount to NAV still about 6% - that's about $8m - about right as the present value of future management fees. Where do those management fees go?
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
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