Refco Fallout

[globalfxtrainer]

Quote from Apex Capital:

Hmmmmm....

This sounds pretty strange to me given the fact that your good buddy Jim Rockford did not even post any kind of warning about REFCO FX let alone REFCO Holdings until after the issue with CEO Bennett.

Why is it that you believe that you wouldn't be in the position that you currently are in now as a REFCO FX customer had you read warnings that weren't even posted until AFTER the FACT???

Care to explain this?

Sure. Jim has given an excellent list with which to conduct due diligence about any FX spot broker and regardless if it was posted here prior to Refco's demise or not it is a good list to evaluate any broker with. If one followed that checklist one wouldn't become a RefcoFX customer. They failed on many counts. I have added some of my own criteria in choosing a broker now that I have a whole new awareness, albeit painfully gained, as to the importance of one's choice in brokers.

The other question I have for you or anyone supporting/defending Refco at this point is why on earth would you? It appears they were run by crooks that are the commodities and futures version of Ken Lay...why on earth would you support a company that has/had crooks running it? It appears one or more of the top management has a very good chance of spending some time behind bars.

Also, you didn't answer my question. If Jim is so useless and such a waste of time, why do you continue to respond to him?

 

[Apex Capital]

Quote from globalfxtrainer:

Sure. Jim has given an excellent list with which to conduct due diligence about any FX spot broker and regardless if it was posted here prior to Refco's demise or not it is a good list to evaluate any broker with. If one followed that checklist one wouldn't become a RefcoFX customer. They failed on many counts. I have added some of my own criteria in choosing a broker now that I have a whole new awareness, albeit painfully gained, as to the importance of one's choice in brokers.

Also, you didn't answer my question. If he is so useless and such a waste of time, why do you continue to respond to him?

Interesting.

Your twisted sense of logic has allowed you to conveniently avoid answering my question.

The fact of the matter is that Jim Rockford's obsessive diatribe here on ET concerning REFCO would have NEVER helped you avoid the situation that you are currently facing as a customer of REFCO FX because he did not jump on the REFCO bashing wagon until AFTER THE FACT.

How convenient.

 

[globalfxtrainer]

Quote from Apex Capital:

Interesting.

Your twisted sense of logic has allowed you to conveniently avoid answering my question.

The fact of the matter is that Jim Rockford's obsessive diatribe here on ET concerning REFCO would have NEVER helped you avoid the situation that you are currently facing as a customer of REFCO FX because he did not jump on the REFCO bashing wagon until AFTER THE FACT.

You're completely missing the point. His contribution is the fact that he a great list that if applied to the due diligence with the NEXT broker someone chooses, they can avoid being Refco'd again.

And please answer my questions in my previous response to you. You conveniently avoided them again.

 

[Apex Capital]

Quote from globalfxtrainer:

And please answer my questions in my previous response to you. You conveniently avoided them again.

I checked back into this thread when another member of ET informed me of yet another grandious, inflammatory, and completely FALSE claim that was made about me by this Jimrockford character regarding a previous screen name that I had here on ET.

Mr. Rockford states that he knows why my previous screen name was delisted yet he really has no clue whatsoever, which really isn't that surprising to me . . . It is yet another unsubstantiated claim that he has made that is in fact totally false and part of that infamous world that he lives in called The World According to Jim Rockford . . .

Thus, I simply came back to the thread to confirm what another ET member had brought to my attention. How ironic that nothing has changed since I have been gone . . . and now Mr. Rockford has become obsessed with counter-attacking Old Trader, because he too has found much of Mr. Rockford's logic and statements of fact to be downright absurd and unsubstantiated.

And for what it's worth, I would like to point out that I am still able to trade in my REFCO segregated futures account for my personal account, which has not been affected by any fallout at REFCO FX and REFCO Capital Markets Group as one of the posters here has continually alleged.

Is that ok with you?

 

[IveBeenRefcod]

Someone pass the lubricant I'm bending over again and ready to be Refco'd again.

 

[globalfxtrainer]

Quote from Apex Capital:

I checked back into this thread when another member of ET informed me of yet another grandious, inflammatory, and completely FALSE claim that was made about me by this Jimrockford character regarding a previous screen name that I had here on ET.

Mr. Rockford states that he knows why my previous screen name was delisted yet he really has no clue whatsoever, which really isn't that surprising to me . . . It is yet another unsubstantiated claim that he has made that is in fact totally false and part of that infamous world that he lives in called The World According to Jim Rockford . . .

Thus, I simply came back to the thread to confirm what another ET member had brought to my attention. How ironic that nothing has changed, and now he has become obsessed with counter-attacking Old Trader.

Is that ok with you?

Yep, fine by me, but you conveniently avoided my questions again.

What I surmise from this is that Jim got the better of you one too many times and your fragile little ego can't take it. Therefore, you have to keep responding to Jim Rockford to make someone believe what you're saying has some merit.

So I will take your repeated non-response in the following manner.

1.) You do have some kind of an agenda regarding Refco, because it's clear you keep defending them (which is curious -- there are people that will probably spend a lot of time in prison that are/were running this company -- why would anyone defend them now?)

2.) You really must admire Jim Rockford or you wouldn't want to try and trump him constantly. Either that or you feel defeated and your bruised ego won't allow to retire (and you really should).

3.) You're not worth the time to continue to engage with as you don't answer questions directly and you avoid them (see #1 above). So with that in mind, you won't hear from me again as I don't value your input.

 

[Apex Capital]

Quote from globalfxtrainer:

So I will take your repeated non-response in the following manner.

1.) You do have some kind of an agenda regarding Refco, because it's clear you keep defending them (which is curious -- there are people that will probably spend a lot of time in prison that are/were running this company -- why would anyone defend them now?)

Congratulations . . . you just answered your OWN question!
Why would anyone defend them now, especially with the threat of prison time and other potential costly events?

Perhaps the answer is because I have NOT been defending them.
Duh!!! But hey, you only see what you want to see.

I have simply refuted "time after time after time" the ridiculous and highly unsubstantiated claims that your altar-ego JimRockford has made continually on this thread concerning the lack of distinction that he has made when it comes to segregated futures accounts.

He has continually maintained that the fallout from REFCO FX and REFCO Capital Markets Group has negatively affected the REFCO futures division where segregated accounts are held. Yet, when I point out that his claim is FALSE, he has a temper-tantrum and can't understand why his unsubstantiated claim has been proven to be FALSE . . . in view of the FACT that I myself continue to trade a personal account there, and a family member of mine withdrew $25,000 from their segregated futures account as recently as October 24th - - - well after the holding company imploded.

You act as if I am the only individual on this thread that has a problem with Jim Rockford making unsubstantiated claims. However, if one were to just go back over the last several pages it is clear to see that I am simply one of many.

By the way, care to tell us why every single one of your 60 posts since joining Elitetrader is about REFCO? Not a single post by you that has anything other to do than REFCO. Why is that? Is this some sort of therapeutic exercise for you?

In all sincerity I really hope that you get your money back and are made whole again. But don't you think that your time would be spent in a much more productive manner than continually posting here . . .

 

[IveBeenRefcod]

I feel the love on this board, like I feel the love from Refco.

Someone pass the lube, I wanna be Refco'd again.

 

[Apex Capital]

Quote from jimrockford:

No, Oldtrader, you old hypocrite . . .

Shame on you Old Trader, you old hypocrite.

And if you can't, would you please knock it off with the personal attacks, so that others can get back to discussing the important things we were discussing before you launched your unethical, unreasonable, hypocritical campaign of off-topic personal attacks?

How ironic that the person that is complaining of personal attacks is also accusing another poster of being a hypocrite.

Now I've heard it all.
:eek:

 

[jimrockford]

Apex Capital's campaign of dishonesty continues in this thread.

Apex Capital has, yet again, falsely placed words in my mouth.

Quote from Apex Capital:

Our resident REFCO basher, jimrockford has nothing better or more productive to do than to spend endless hours on ET beating a dead horse into the ground, after the fact.

If he was so knowledgeable as he currently purports to be when it comes to the REFCO situation, then where was he earlier this year?

The fact is that I never made any claim to be "knowledgeable". I leave it for the reader to decide who is "knowledgeable" and who is not.

Apex Capital then soon made another post, dated Nov 8, 2005, at 12:23 am EST, in which he quotes from a posting by Oldtrader. Oldtrader's post misrepresents my own statements, as I detailed in my response to Oldtrader's post. Apex Capital, by re-posting Oldtrader's incorrect information, long after I posted my response explaining Oldtrader's errors, has deliberately misrepresented my statements, yet again.

Apex Capital then made the following statement:

And for what it's worth, I would like to point out that I am still able to trade in my REFCO segregated futures account for my personal account, which has not been affected by any fallout at REFCO FX and REFCO Capital Markets Group as one of the posters here has continually alleged.

If you were Jim Rogers, or one of his clients, then your experience with segregated customer funds deposited at Refco futures was not the same as Apex Capital, because now all your money is gone, and you may never get it back. Apex Capital's post is deceptive because it fails to address the Jim Rogers situation.

Apex continues his off-topic personal attacks, calculated to disrupt the thread. I want to thank everybody who encouraged my participation in this thread, and especially globalfxtrainer who really made an effort to defend me against the constant stream of abuse from Apex Capital.

I repeat: if you want to see threads like this one on ET, you must all start complaining to Baron about Apex Capital's behaviour; and you must make it clear that you do not want this thread closed, and that you want this thread to be protected from Apex Capital's abusive, dishonest, anti-social interference.