Max Schatzow
@AdviserCounsel
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Counsel to RIAs, BDs & fund managers on registration, compliance, and enforcement issues. Husband, dad x2, dogdad, beer, ball sports, bikes, fiat.
Princeton, NJ
Joined January 2014
If Bernard Madoff were alive today, I think the odds for his commutation would be better than 50/50. Because the GPB gang basically did the same exact thing:
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Just shut down recruiting and transfer portal activity for a few weeks so college coaches can finish a season while coaching their teams. I am not aware of any other pro or collegiate sport that has this problem. Is it that hard to rearrange the calendar?
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So, we can all agree that it’s expensive to live in high cost of living areas and hard to buy homes and pay for things if you live in one of these areas with less than the median income
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If you’re ok blowing up drug traffickers in the middle of the ocean without due process, then you probably don’t see anything different about going in and finishing the job after an unsuccessful first murder.
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Equivalent of buying a carton of cigs for your loved one back in the day?
Let your favorite loved ones know how much you love them this holiday season:
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Let your favorite loved ones know how much you love them this holiday season:
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Kalshi’s co-founder is avoiding explicitly saying the words, “He is an advisor to influence the government and help us get our way with the law and its enforcement.” But why?
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Any good sporting events on today to place some well-timed, outcome-based event contracts on? Looking to increase my exposure so that I can protect my crop of other event-based contracts.
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Can’t use all your resources to capture the federal government regulators and forget about state law!
NEW: Kalshi has been hit with a nationwide class action lawsuit in the SDNY for operating an illegal online sports betting platform and for "duping" customers into believing that they are legally gambling against other consumers when they are actually gambling against the house.
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Great advice from Barrett. 3. Call legal. 4. Engage IT professional to start running forensics on what happened and how to fix it. (Possibly through legal for privilege). 5. Determine any mandatory or permissive state/federal reporting obligations.
If this ever happens to you or someone you know then do two things 1. Get the highest person possible at your bank and the bank the funds the wire was send to involved ASAP. Preferably bank’s head of Treasury Dept 2. Get the Secret Service involved ASAP Minutes matter
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A fellow colleague in New Jersey was rejected on appeal and now is liable to the defendants for approximately $1 million in fees and costs.
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Maybe hotels in NYC are expensive on a Saturday in December simply because owning, building, and operating a hotel in NYC is expensive, there is lots of demand, and the businesses that run them want to make money?
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The absolute worst argument for permitting Big Insurance salespeople from preying on retirement investors is that Big Insurance provides access to "affordable" financial services. It is "free", because it is so very costly.
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Some of the biggest Congressional supporters of cyrpto were also the biggest supporters of striking down the Fiduciary Rule designed to protect retirement investors at the behest of Big Insurance. Coincidence?
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You serve your clients. You break away. You grow. You sell a slice to a PE-backed aggregator. You roll equity. PE sells some of its equity to a sovereign fund. Then goes public. Investors buy shares. Its the new circle of life.
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NEWS: SDNY chief (and fmr SEC chair) Jay Clayton says DOJ is scrutinizing private equity valuations and warns against money managers picking unrealistic prices to reap higher fees. More details on @theterminal. Reporting by @sridinats
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It sounds insane (and probably is), but then you recall that DJT holds 115 million shares of TMTG in his “blind trust”, and the company basically went all in on stablecoins and BTC.
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Yikes, big error. Also wrong to assume a big public pension funds returns will match whatever individual investors achieve thru 401(k)s.
SEC Commissioner Uyeda recently argued that the optimal 401(k) allocation to private investments is greater than zero. To support that claim, he said: “Earlier this year, CalPERS reported a preliminary 11.6% return for FY 2024–25…driven largely by the strength of its private
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