As investment advisors, we continue to be amazed by the stories that come out about the Bernie Madoff hedge fund scandal. I came upon a report recently from the EDHEC Risk and Asset Management Research Center out of Nice, France, entitled Madoff: A Riot of Red Flags by two professors of finance who describe in great detail the red flags that were created by the Bernie Madoff firm management set up and circumstances. It's a detailed perspective, but insightful for those investors who going forward want to make sure they want to avoid such disasters.

The website where the report can be found is www.edhec-risk.com. Look under the Reports, Surveys, and Position Papers section. Free registration is required.

President Obama signed the stimulus package yesterday. This far reaching legislation has significant implications that we are in the process of analyzing. Look for information about the package on our TUFA Views page.

You can also review tax provisions in the legislation at www.irs.gov.