Hedge fund corners cocoa market????

[belmondo]

Quote from joneog:

Why was no one complaining when the evil speculators pushed the price down?

So the price of Coffee and Cocoa are near multi-year highs and the price of corn is 50% below its 2008 high, wheat almost 60%, beans over 35%, rice 60%

When sugar dropped %60 in 3 months I didn't hear anyone bitching...

but I guess the diet of the world's poor consists solely of coffee and chocolate...

 

[Dogfish]

http://online.wsj.com/article/SB10001424052748704720004575377140531684602.html

He made 17mil in 2002 when he did it but did his arse in 1996 when he bought even more - 300k tonnes

3rd time lucky?

 

[MohdSalleh]

Quote from Dogfish:

http://online.wsj.com/article/SB10001424052748704720004575377140531684602.html

He made 17mil in 2002 when he did it but did his arse in 1996 when he bought even more - 300k tonnes

3rd time lucky?

he's a former motorcycle dispatch rider:eek:

 

[caroy]

Quote from heech:



There is a long history of fortunes being made and lost in cornering a market. [/B]

I believe Jesse Livermore cornered the coffee market during WWI. The government responded by suspending coffee trading and giving rationing as the reason.

 

[nutmeg]

Quote from caroy:

I believe Jesse Livermore cornered the coffee market during WWI. The government responded by suspending coffee trading and giving rationing as the reason.

I could be wrong but I think it was the cotton market and I don't think he was trying to corner the cotton market, He had inadverntenly been propping up the cotton market.

 

[caroy]

Quote from nutmeg:

I could be wrong but I think it was the cotton market and I don't think he was trying to corner the cotton market, He had inadverntenly been propping up the cotton market.

You're probably right I'll have to dig through the book again. Although I thought he had another corner in addition to cotton.

 

[Shagi]

His ass is toast already and gonna burn it to ashes when CC hits 2200

 

[heech]

I don't understand the wikipedia entry mention of "trading places" as an example of cornering the market. I thought Randall and Randall was just trying to trade on insider information before a USDA report on the orange crop (which I believe is legal).

 

[El OchoCinco]

Quote from heech:

I don't understand the wikipedia entry mention of "trading places" as an example of cornering the market. I thought Randall and Randall was just trying to trade on insider information before a USDA report on the orange crop (which I believe is legal).

Trading on insider information is legal? You are joking right?

 

[SideShowBob]

Quote from optioncoach:

Trading on insider information is legal? You are joking right?

Only if your stationary says "Goldman Sachs" or SAC.