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my guess is that a market would have to be made on the shares in order to settle outstanding obligations, even if it's 0 bid at $.05. a company's shares don't cease to exist simply because it's broke and tangled up in liability. the market decides the value, even if it's the Pink Sheets...

ny. i love it. rents are high -- it's a landlord's market. food is really mediocre. easy to find a job at minimum wage. it takes 45 minutes to get anywhere. the women are psychopaths. it's the best of times, it's the worst of times.

and what, Lee is "unsophisticated?" Hello!? Didn't you do your due dilligence? And, more importantly, didn't you stand to benefit as much from the IPO as Mr. Bennett himself.

ubelieveble crock of nonsense alert. your tax dollars at work. puke. if refco's a canary in the coal mine, then the bad gas is from the laywers -- that much I'll agree with. but refco's screwup says nothing about the system except that people like Lee are either gullible, culpable, or both.

the refco "brand" is finished.

let the record show that REFCO held up jess fine under REF and his successor. When it went to Wall Street it hit the wall. Do you really think the undertakers were oblivious to the debt-shell game? I'll bet they helped set it up. Fuhgawdssakes, what about "due dilligence?" They couldn't not...

oil prices do not necessary indicate the presence or absence of inflation, although one would expect prices to rise in an inflationary environment (surprise, they have). productivity has driven certain prices so far down that apparently some of the affects of inflation have been mitigated...

refco futures will have to be spun off, period. the firm at large is finished. the carving of the carcass is already being mapped out, with lawyers, bankers, and traders sequestered in some titty bar somewhere, I'd hazard.

Man, can that guy tell a story!

fair challenge, and I haven't traded retail in a long time, so I have to beg off. I have a hard time envisioning a world where IB is the best option.

I'm sorry, has REFCO been accused of theft? As for fraud, I'm still not sure if this tops the wrong perpetrated upon the world by the hotshot broker who stuck a winning Cattle trade into the account of some governor from Arkansas' wife. He should be posthumously hung for sedition.

time for a reality check.

IB will never be Refco. But as far them meeting a similar fate, albeit perhaps even shadier, I would bet on it.

sometimes it juss be's that way. :cool:

refco's done. some of the questions on this thread really have me scratching my head. This IS a trader's website, right? CME was a great short about 25$ higher, two days ago.

does anyone know where I can get today's volume? thx >:

read "Portfolio Manangement Formulas" by Ralph Vince. He lays the groundwork for fixed fractional compounding and then even gives you a spreadsheet layout to do the math. it's pretty all-out aggressive and will get you massive drawdowns, which really turned the street off to the whole thing...

i knew who posted this sophomoric nonsense before I even read it.

risk is taken into account by price. the riskier the deal, the more the firm pays to get it done, either in interest, percentage of equity sold, bid/ask spread, or any other "premium." put another way, "risk premium" is a component of price. risk/reward.

thought about it back in the day and realized that it was impractical for someone who did 100+ trades in a dozen different stocks a day. thought about leasing a seat and going down there myself to cut costs but didn't push the idea for the same reasons (and others). hope it works for ya.