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Sunday, July 14, 2013 8:59:54 PM
It doesn't take an audit to know that what looks like a duck, quacks like a duck, ... you know.
The biggest flag of all is how preposterous the concept is that Hillard Herzog/BGMO would be selected to manage billions as fiduciary, given complete lack of investment management skill, absence of any successful prior investment, lack of audit, lack of governance, lack of track record, frequent litigation, gaping chasm between announced deals and actual accomplishments, etc.
Add to this the implausibility that BGMO bought a subsidiary in April and presto chango a few months later with no capital at risk, it strikes gold and earns over $280 million of revenue in one month and books $88 million of profit after $80 million of commissions to management -- yet none of this money is obtainable. Oh really -- it's too silly to believe.
Everything I post is my personal opinion.
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