I went through the linked paper a few years ago. It&#x27;s a good exercise for those of you who are interesting in finance and trading.  All you need to understand the paper is a decent grounding in financial theory and a high school education in math.<p>The big take away from this for me wasn&#x27;t that Markopolos is a genius, though he might be. It&#x27;s that exposing the Madoff fraud wasn&#x27;t complicated at all, its just that no one bothered to do any due diligence at all.<p>In a way it&#x27;s really surprising that there haven&#x27;t been more lawsuits over this between advisers and clients.<p><a href="http:&#x2F;&#x2F;docdro.id&#x2F;eCZ73V8" rel="nofollow">http:&#x2F;&#x2F;docdro.id&#x2F;eCZ73V8</a>