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Mothers, lock up your daughters' trust funds. Dana Giacchetto, ex-money manager to the stars, is out of jail. The NYT Magazine ran a profile of Giacchetto on June 8, wherein he described the financial advice he gave fellow inmates, "'Listen, there is no economic Holy Grail. Money is always difficult, it will always be difficult.' I would say, 'Look aroundmoney doesn't solve all your problems.'" That sort of brilliant financial wisdom ranks right up there with "Buy low; sell high" and "Bulls make money; bears make money; pigs get..."god, I hate Wall Street people. (Particularly since I used to be one.) More fun with comments: Dana Giacchetto's encore. What should he do now? How does one follow a long career of bilking celebrities for money? And most importantly, did he get a copy of The Week?
Scammer to the stars a free man [NY Post]