The Fairfield Sentry Fund was a $7 billion fund-of-funds solely invested in Bernie Madoff’s investment firm. The Fairfield Sentry “3X Leverage” version, meanwhile, is a derivative of the fund that borrowed $3 for every $1 invested–and, thereby, earned 3X the return. Both funds are presumably now worth zero.
The fund’s marketing materials lay out in month-by-month detail Bernie’s fictional returns:
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