Aha! More insight into Bernie Madoff’s psychology. The man who designed his Ponzi scheme to show remarkably steady and modest returns year over year, reportedly remarkably steady scores on the links. Greg Newton unearthed some scores of his made public, showing every single round in the 80s. Really? Not a single quintuple bogey in there? And he never had one of those dream rounds of birdie after birdie? We’re horrible golfers, and even we sometimes hit the zone.
Perhaps someone can analyse the distribution and tell us with certainty how likely these numbers were to have been fudged.
(via Paul Kedrosky)