1/11/10

JPost: How Rabbi Haviva Ner-David has bounced back after Merkin-Madoff Losses

Rabbi Haviva Ner-David writes in the JPost about how she and her family have bounced back after Merkin-Madoff scandal losses and other adversity.

This woman comes across as the kind of articulate and dedicated model that we need to cultivate in the ranks of Jewish professional life in Israel and beyond.

Her story is plainly told and highly inspirational:
It was around this time last year that my husband, Jacob, and I heard that we had lost a significant chunk of our liquidity to Bernie Madoff. Our money was invested with Ezra Merkin in his fund, which we understood to be a conservative fund. With six kids and both of us in independent professions, it seemed like a good idea to put our savings with him, since we would earn more than if it was in the bank, but would still not be taking any big risks with ourmoney. Our assumption was that he was acting ethically and doing what he told his clients he was doing - investing in a variety of safe investments. In reality, he was giving all of the money in his fund to Madoff. ...more...

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