Prepare for many more Madoffs

Get ready for investigators to uncover dozens of more possible Bernard Madoff style frauds. Politco and Morningstar Inc surveyed 1,684 hedge funds that have disclosed their quarterly results for the past 5 years. That’s twenty quarters of results. It seems that 34 of those funds have never reported a down quarter.

Goodness, they must all be super-smart and canny investors then. Oh wait, there goes two more hedge funds.