I wish these articles would stop focussing on his ability (or lack thereof) as a trader. His views on the market are totally irrelevant. The fact...
Just to clarify, for this 72% equalising distribution, is it ONLY usd cash that is being distributed? What about foreign currency deposits? Do...
It's very unlikely that MFG would have extended credit to any customer which still needs to be returned. However, the trustee is just trying to be...
JPM's objection is total legal nonsense. JPM are *creditors* of MFGI and therefore have no assets being held there. Customers are attempting to...
I printed out the claim form, filled it in by hand and scanned it. I think scanning is the only option as you may well need to provide extra...
Ok, so the only people who at this point have not been made up to 60% are those who were not flat as of Oct 31. Actually, those were the...
Because.. saving is boring and spending is fun. Americans like to have fun. Cultures that actively promote self denial and/or delayed...
Saving is fundamentally about spending less than you earn. It is something you need to do to have any hope of succeeding at capitalism.
My understanding of the distribution process is as follows: 1. (Last two weeks) Distributed 60% of the collateral on open positions only 2....
The problem with having a long string of successes in life is that you start to think you have the magic touch and anything you do will work out....
What a pity programmers never got themselves unionised, eh? With the Socialist-In-Chief about to write the unions a cheque for hundreds of...
The Commodity Exchange Act of 1970 says that if there is a shortfall in segregated client funds then customers get priority over all other...
MF Global the brokerage is being liquidated by the SIPC appointed trustee to safeguard the return of customer assets. The parent company, MF...
Is there an ETF for an index of the world's 1000 biggest companies by $ value, rebalanced every quarter? That asset would be the one most likely...
Plenty of accounts are not that small. They are in the $5-50m range. Exactly why an FCM would want to get rid of that kind of business is beyond...
I have a cash only account too (about $350K split equally among USD, EUR, CHF and JPY) after successfully flattening all positions by the close of...
At this stage I'd be quite happy with a haircut. Please give me back 80% of my money NOW rather than 100% at some indefinite point in the future..
You have a lot of faith in these investigators. Bearing in mind that pilfering from segregated accounts is a criminal offence, I don't know why...
You have a point, but there is very clear legislation that puts customers first. Case law in its entirely puts the segregated account holder...
And hence our missing funds.. :)
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