We’re coming out of the biggest financial downturn since the Great Depression but there are still plenty of millionaires out there. What do the super-wealthy do with their money, and are they really better investors than the rest of us? MoneyTrack explores whether the financial advice they pay so much for is better than what average investors can find – and how we can beat those “exclusive” hedge funds at their own game
Pam explains the pros and cons of investing in the “fund of funds” to a MoneyTrack viewer who wants to know how he can join the high rollers. In Investing 101, economist Burton Malkiel, who wrote the investing must-read A Random Walk Down Wall Street, gives his opinion about why people should avoid hedge funds like the plague.
Even the best and the brightest hedge fund managers can fall victim to one of the oldest tricks in the book – phony promissory notes. In Scam Alert, learn about Mark Dreyer, a top New York attorney who turned to a life of crime and is serving a life sentence for defrauding top Wall Street money managers out of $740 million.
Click here for full transcripts with Patrick Geddes and Burton Malkiel.
