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MF Global stock down 35%
- Thread starter PohPoh
- Start date
Quote from m22au:
In March, it was easy to dismiss the MF Global share price plunge due to Bear Stearns contagion fears.
The key difference today is that MF Global has some clear problems of its own.
S&P and Moodys both have MF on watch negative
And Fitch has affirmed MF Global's issuer default ratings and places the firm on stable outlook with investment grade "BBB+" rating.
http://biz.yahoo.com/ap/080618/mf_global_fitch.html?.v=1
You make a valid point about Man's history, but as we saw with Refco, it doesn't take much for people to get worried and start withdrawing their funds from a broker with a hint of trouble
Quote from Landis82:
It's people like you that are full of bullshit and use ET as their personal "playground" to spread all sorts of BS and misinformation. Do you even have a clue as to how long Man has been around?
Try 225 years.
Quote from m22au:
You make a valid point about Man's history, but as we saw with Refco, it doesn't take much for people to get worried and start withdrawing their funds from a broker with a hint of trouble
Segregated Funds "should" not be at risk with the financial condition of the broker...
You are correct that they 'should' not be at risk, but again using Refco as an example, some people don't want to take that chance. I think there may be posts on Elitetrader about Refco customers who did not get 100% of their money back
Quote from gnome:
Segregated Funds "should" not be at risk with the financial condition of the broker...
Quote from m22au:
You are correct that they 'should' not be at risk, but again using Refco as an example, some people don't want to take that chance. I think there may be posts on Elitetrader about Refco customers who did not get 100% of their money back
If I understand Refco's situation correctly, those in "segregated accounts" got their money out (or transferred to a new broker). Some had their money in a non-segregated "currency" account (I don't know how that works), and became general creditors...
Citi $5?
Quote from Landis82:
It's people like you that are full of bullshit and use ET as their personal "playground" to spread all sorts of BS and misinformation. Do you even have a clue as to how long Man has been around?
Try 225 years.
What the FUCK is your point?
All it takes is one guy..
One Leeson...One Bennett....One fucking pig, and millions of clueless sheep..
and the whole house of cards come crashing down..
Everything I said is fact...take your blinders off, Landis..
Quote from gnome:
Segregated Funds "should" not be at risk with the financial condition of the broker...
right..they should..
but what can you put past anyone these days..
My point was not that Man was going under and all you guys trading with them should be worried..
But the implications of a firm like that, perhaps having ENORMOUS derivative exposure, or something of the like, could crash the stock..
Hey, the stocks' only down 35% today..just another day at the office..
Quote from Landis82:
It's people like you that are full of bullshit and use ET as their personal "playground" to spread all sorts of BS and misinformation. Do you even have a clue as to how long Man has been around?
Try 225 years.
BTW, my ego is pretty small so I'm not concerned that what I say will move markets..