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Madoff

April 27, 2009

It is clear that 2009 is shaping up to be a year of roiling markets, unpleasant investment surprises and difficult choices. How should the family business relate to the markets to
prosper in these turbulent times? Make a vow to get involved with your investments.

It is clear that 2009 is shaping up to be a year of roiling markets, unpleasant investment surprises and difficult choices. How should the family business relate to the markets to prosper in these turbulent times? Make a vow to get involved with your investments.

February 27, 2009

Bernard Madoff’s alleged thievery was a betrayal of many trusting families. Tom Davidow analyses the psychological debris left in the wake of the treachery.

Fear over market fluctuations had already set in. The US was reeling from the consequences of the sub prime debacle. For some, Bernard Madoff's larceny the last straw. The suicide of German billionaire Adolf Merckle and the apparent suicide of R. Thierry Magon de la Villehuchet, founder of Access International Advisors, make two things clear: First, financial loss is a psychological loss as well.

February 6, 2009

Campden FB’s Family Business Leader of the Year 2008 came out fighting yesterday as he announced record financial results for Spain-based banking group Santander.

Campden FB’s Family Business Leader of the Year 2008 came out fighting yesterday as he announced record financial results for Spain-based banking group Santander.

Chairman Emilio Botin has had a torrid start to the year as the bank his family has led since 1857admitted it had lost more than €2.3 billion of its clients' money with Bernard Madoff.

However, the bank has had its “best year in the last 20 years” with a net profit of €8.876 billion – not far off the €10 billion Botin predicted last June before the banking crisis really took hold.

January 13, 2009

Banco Santander is allegedly set to face an investigation by Spanish prosecutors into how the family-controlled bank lost more than €2.3 billion of its clients’ money with Bernard Madoff, the disgraced American fund manager.

Banco Santander is allegedly set to face an investigation by Spanish prosecutors into how the family-controlled bank lost more than €2.3 billion of its clients' money with Bernard Madoff, the disgraced American fund manager.

The Wall Street Journal is reporting that the authorities want to know "the details of Santander's relationship with Madoff's firm and when Santander knew about problems related to it."

January 7, 2009

If last year’s economic predictions were far too optimistic then I suppose we can draw some comfort from the fact that this year’s commentaries seem universally depressing.

If last year's economic predictions were far too optimistic then I suppose we can draw some comfort from the fact that this year's commentaries seem universally depressing. However, we cannot get away from the fact that the financial news and the background economic environment is bad and likely to get worse before it gets better.

The good news though is that a lot of this bad news has already been factored in, with some investment houses thinking that the fall in certain valuations may have already gone too far.

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