Mr. Stein didn't have the cajones to respond directly to the W.C. Varones blog, but he did offer a spirited defense in the New York Times. I guess he is America's Most Smartest Financial Advisor, because he didn't fall for the Madoff pitch:
Okay, it's not much of a defense:
They assured me that this genius had found a way to spot market inefficiencies and, indeed, to make money off a perfect hedge.
I thanked them for their time and promptly looked up Bernard Madoff online. Nothing I saw was even a bit convincing that he had made a breakthrough in financial theory.
I politely passed and went on my way, finding my own inventive ways to lose money on a colossal scale during these last 15 months.