Episode Details

Steve Foerster, a finance professor and investment historian, to talk his latest book, Trailblazers, Heroes and Crooks: Stories to Make You a Smarter Investor.

Steve shared insights into famous financial scandals, such as Bernie Madoff's Ponzi scheme, the Bre-X gold mining fraud, and the Salad Oil Swindle that almost toppled American Express. He highlighted key lessons from these events, including the importance of skepticism, recognizing red flags, and understanding how fraudsters exploit exclusivity and credibility to deceive.

These historical stories underscore timeless lessons in vigilance and sound investment practices. Today we discuss...

• Steve Foerster, professor of finance and investment historian, discussed his background and books, including Trailblazers, Heroes, and Crooks and his work on the biography of Nobel Laureate Bill Sharpe.
• The psychology of exclusivity and trust in Madoff's scheme, including his reputation as NASDAQ chairman.

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