Walter Noel’s old enough to get this one

The new Vanity Fair article on FGG and the Noels quotes an observer:

[A] well-known investor says, “These [F.G.G.] guys were just a marketing machine.… Walter was just really a customers’ man.… They didn’t even know what questions to ask. It’s malpractice. It’s gross negligence. It’s not criminal behavior, in my view. Nobody would do this. I mean, Walter wouldn’t ruin himself. Nobody would do this.… You can’t put amateurs in a world of grownups.… That’s really what this is. They are amateurs.”

The term “customers’ man” is rarely used these days for clueless stock brokers but my father (Yale 27 ; was that your class, Walt?) used to tell the tale of two former college classmates who encounter one another on the street. One asks the other how he’s earning a living and is told, “Oh, I’m a customers’ man, but please don’t tell my dear sweet Mama – she still thinks I’m a piano player in a whore house”. Tee hee.


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5 responses to “Walter Noel’s old enough to get this one

  1. Walt

    Tee hee? TEE HEE? Put the big boy pants on, for Petes’s Sake. You make me want to cringe.
    I WAS a customer guy, for Pete’s Sake. Want to hear a joke? Here is Andres.
    Yankee tickets? I got you covered.
    A round of golf and drinks at the bar? I am your man baby!!!
    So now all the snot nosed whining? What is that all about? You wanted Bernie, I got you Bernie, plus I stuffed a few shrimp down your throat. And I paid the tab. So STFU.
    You owe me an apology.
    Your Pal,

  2. Same mold

    This story may be getting moldy. The Richy Rich Society is losing a few members. Bourke, Noel, DouglASS, Brant, Lindemann all trouble now. Time for them to move so someone else like that guy on Pinecroft can be examined better.

  3. Walt

    Dude –
    We really do need scorecards to keep track of this? Am I filing claim against myself? I am confused. Sort this out and explain it all to me.
    Now go sell some dirt.
    Your Pal,

  4. James O'Boston

    Walt, don’t panic.

    You’re a non-money-manager and i’m not an attorney, so take my advice:

    When suing yourself, try to settle with yourself out of court. I mean, you already know your strategies and weaknesses, as well as “where the bodies are buried” (don’t panic. it’s just a saying!). Use this to your advantage in the suit or you could end up both winning and losing the case (and wasting a lot of time – Summer is far to short a season to waste in court)

  5. Walt

    Thanks James. I need to convince myself I am innocent. Which I am. Anyway, here are more of your tax dollars at work. I thank God I don’t pay taxes:
    Your Pal,