FXCM Is Buying RefcoFX - Deal is Done - Funds are safe

[jimrockford]

Quote from misha7:

Are you the person who said Refco stock was a "screaming buy" AFTER the scandal broke out? I don't see how you can continue posting here or on moneytec under the same name. What a disgrace.

Quote from Trader/God:

Yeah I did and you should have taken my advice, "Prices for Refco's $390 million of bonds soared as much as 94 percent since Oct. 12" http://64.233.161.104/search?q=cach...&refer=top_world_news+refco+bond+prices&hl=en

Stock up more than 30% from bottom as well.

Trader/God
Lives up to his name

Oh, great omniscient one, in prayerful tribute to thy greatness, I hath humbly computed the return on thine investment commandment, so that all can seeth thy greatness and trembleth before thee, and so that all will knowest the name of the Lord.

Thou commandest we purchase Refco stock as follows, in the "Refco Account Security" thread:

10-10-05 06:22 PM (EST)

This is a buying opportunity nothing more.

Trader/God

Thy recommendation issueth after the market closeth, so all who loveth thee and worship thee bought at the open on the Eleventh of October, in the Year of Our Lord, Two Thousand and Five, at a price of $15.60 per share.

Lo, and behold, Refco stock last closeth on the Eleventh of November, in the Year of Our Lord, Two Thousand and Five, at a price of $1.00 per share.

I hath performed a reckoning and a totalling, and I hath computed that all who loveth thee and worship thee sustaineth a loss of 93.6% on thy commandment.

All who loveth thee and worship thee proudly madeth this 93.6% sacrifice, unto the Lord, to prove thy greatness and our piety and love for thee.

 

[globalfxtrainer]

Quote from Trader/God:

When it's gone I won't be waiting with bated breath for an apology from you.

Trader/God

And I sir, will be awaiting an apology from you if it is still on there in one week.

 

[Trader/God]

Quote from jimrockford:

Oh, great omniscient one, in prayerful tribute to thy greatness, I have humbly computed the return on thine investment commandment, so that all can see thy greatness and tremble before thee, and so that all will know the name of the Lord.

Thou commandest we purchase Refco stock as follows, in the "Refco Account Security" thread:


Thy recommendation issued after the market closed, so all who loved thee and worshipped thee bought at the open on the Eleventh of October, in the Year of Our Lord 2005, at a price of $15.60 per share.

Lo, and behold, Refco stock last closed on the Eleventh of November, in the Year of Our Lord 2005, at a price of $1.00 per share.

I have performed a reckoning and a totalling of sums, and I have computed that all who loved thee and worshipped thee sustained a loss of 93.6% on thy commandment.

All who love thee and worship thee proudly made this 93.6% sacrifice, unto the Lord, to prove thy greatness and our piety and love for thee.

If you can't take big losses and dollar cost average down then you should stay out of the way on those kind of bets. Only for the big boys. Buying stock in a failing company is a suckers play, the bonds are where its at. Nice of you to try and change the subject when you are getting beating on every other thing you post. My recs were profitable. You're still wrong. Other than that, great point!

Trader/God

 

[globalfxtrainer]

Quote from Trader/God:

If you can't take big losses and dollar cost average down then you should stay out of the way on those kind of bets. Only for the big boys. Buying stock in a failing company is a suckers play, the bonds are where its at. Nice of you to try and change the subject when you are getting beating on every other thing you post. My recs were profitable. You're still wrong. Other than that, great point!

Trader/God

How do you spell "backpedal"?

 

[Trader/God]

Quote from globalfxtrainer:

How do you spell "backpedal"?

Either "globalfxtrainer" or "jimrockford" but since they are the same person it doesn't really matter.

Trader/God

 

[jimrockford]

Quote from Trader/God:

Either "globalfxtrainer" or "jimrockford" but since they are the same person it doesn't really matter.

Trader/God

No, we are not the same person.

Perhaps, since you were wrong about us not being the same person, you were also wrong about some other things. Maybe you were wrong when you said that frozen customer funds were safe at RefcoFX.

 

[globalfxtrainer]

Quote from Trader/God:

Either "globalfxtrainer" or "jimrockford" but since they are the same person it doesn't really matter.

Trader/God

This guy obviously does very little if any research to backup his statements.

And no, we're not the same person. I do like most of what Jim writes however; unlike you his arguments for the most part are cogent, well-organized and well researched. So far the opposite could be said about you.

 

[Rearden Metal]

...and in today's featured bout of jimrockford vs. Trader/God, the winner is...






Jimrockford by K.O. in the tenth round.

<img src=http://www.mdboxing.org/P7270002.jpg>

Quote from Trader/God:

If you can't take big losses and dollar cost average down then you should stay out of the way on those kind of bets. Only for the big boys. Buying stock in a failing company is a suckers play, the bonds are where its at. Nice of you to try and change the subject when you are getting beating on every other thing you post. My recs were profitable. You're still wrong. Other than that, great point!

Trader/God

 

[ZoneTrooper]

Hmm.

Looks like another thread on this Forum has gone completely off target. And some people are showing their true selves.....

I wish the moderator would delete these guys posts.

 

[jimrockford]

Quote from Chood:

The MOU looks great for the customers, and I hope for their sake that it is accepted as submitted.

Chood,

Have you actually looked at the Memorandum of Understanding? Has anybody actually seen it? Has anybody given any scrutiny to the fine print? Can anybody post a copy of it?

If the FXCM deal does not go thru, then RefcoFX customers, as general unsecured creditors, are entitled to a fair share of the bankruptcy estate. Bankruptcies typically pay in the neighborhood of 40 cents on the dollar to general unsecured creditors. If the FXCM deal does go thru, then I would be concerned about the danger that RefcoFX customers might, in the end, wind up with absolutely nothing, while leaving their fair share of the Refco bankruptcy estate to the big people who really matter, like the major banks. We need to see the fine print, to make sure that this deal really will benefit the little people.

Anybody have a copy? Why is it not posted on the RefcoFX website?

If nobody has a copy, then ask yourselves, "Why not?"