Cautionary Tales will be LIVE on stage in London this May. Tickets are on sale now: https://www.tegeurope.com/events/cautionary-tales/

Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors. 

What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...

This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?

For a full list of sources, see the show notes at timharford.com.

Cautionary Tales will be LIVE on stage in London this May. Tickets are on sale now: <a href="https://www.tegeurope.com/events/cautionary-tales/" data-saferedirecturl="https://www.google.com/url?q=https://www.tegeurope.com/events/cautionary-tales/&amp;source=gmail&amp;ust=1714140875871000&amp;usg=AOvVaw1AdQOUXi0vCxxJgJFKcxd8">https://www.tegeurope.com/events/cautionary-tales/</a>
Sam Israel had a problem. The investors in his hedge fund, Bayou Capital, were expecting spectacular returns. Sam himself had spent years proclaiming the fund's brilliant results. But in reality, Sam had been marking his own homework, publishing fraudulent accounts and using these to lure in new investors. 
What to do? Well, the logical thing of course: wait around for an extraordinary profitable streak, and in the meantime keep up the ruse...
This episode of Cautionary Tales was recorded live at the Bristol Festival of Economics and studies three incredible investment scams. How do pyramid and ponzi schemes snowball out of control, flattening victim and fraudster alike?
For a full list of sources, see the show notes at <a href="http://timharford.com/" data-saferedirecturl="https://www.google.com/url?q=http://timharford.com/&amp;source=gmail&amp;ust=1714140875871000&amp;usg=AOvVaw1hFj8hZX2icQ34c5XZLfjg">timharford.com</a>.

We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.

We tell our children unsettling fairy tales to teach them valuable lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective”) brings you stories of awful human error, tragic catastrophes, and hilarious fiascos. They'll delight you, scare you, but also make you wiser. New episodes every other Friday.

Cautionary Tales with Tim Harford

We tell our children unsettling fairy tales to teach them valuable life lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective” and “The Undercover Economist”) brings you stories of awful human error, tragic catastrophes, daring heists and hilarious fiascos. They'll delight you, scare you, but also make you wiser.

We tell our children unsettling fairy tales to teach them valuable life lessons, but these Cautionary Tales are for the education of the grown ups – and they are all true. Tim Harford (Financial Times, BBC, author of “The Data Detective” and “The Undercover Economist”) brings you stories of awful human error, tragic catastrophes, daring heists and hilarious fiascos. They'll delight you, scare you, but also make you wiser.

The Fraudster's Guide to Magic Money

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f32fbd45-a06c-4529-9698-b15d00fc4d33/transcript

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