RIP Refco

Quote from forestfire:

RIP refco, you lasted longer than I thought you would.
You cornered the market in doing the business that no respectable bank would touch and suprise suprise it ended in tears.
Sympathy, well I haven't got much for the people associated with refco. But if you couldn't see the way they were operating then I'm sorry you're so blind.
Good riddance to bad rubbish. I look forward to a temporary lack of the over leveraged craziness that refco brought to the futures market. Though I'm sure that some crook is already plotting an empire that will far exceed refcos brief adventure.
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prick.
 
Quote from FredBloggs:

prick.
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Fred, i was wondering when you were going to come out of the woodwork. Your precious REFCO that you spoke so highly of is in the toilet, yet you still defend them. SAD!! Doesn't say much for you. Don't get upset with others who vent their anger, the news is already out.
 
Quote from Truff:

Fred, i was wondering when you were going to come out of the woodwork. Your precious REFCO that you spoke so highly of is in the toilet, yet you still defend them. SAD!! Doesn't say much for you. Don't get upset with others who vent their anger, the news is already out.
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not at all. i wasnt defending refco so much as thinking what a PRICK op is. how does calling op a PRICK equate to defending refco? how is that SAD? what is SAD is not being able to have a basic comprehension of the english language , and start pointless accusations without merit. that is SAD sun shine.

as for coming out of the woodwork - well i have been away from et for a while it is true. this is because i dont see the point in reading pages of crap written by morons who know the square root of fuck all. all there is on this site is negativity everywhere i look. im fed up with it.

i really think that the number of real traders on this site could be written in large numbers on the back of a postage stamp.

this op is a case in point. someone who comes up with another identity just to post another load of bollox. why cant he be a real man and use his original identity? most people on their 1st post come out with some newbie question or something. they dont join a board just to vent on something they know fuck all about.

as for the refco issue - yes im gutted. the bennett should swing for what hes done.

i still say that refco (did) offer the best service and executions of any broker i have used. refco had a lot of great employees and i think we should remember their contributions and efforts rather than laugh at them with brainless posts about how the whole thing was an accident waiting to happen.

kicking a lame dog when its down is the act of a coward.

i hate to say this, but it does indeed look like the end of a great company. sure they had their issues in the distant past, but as any sensible person knows, EVERY company of refcos standing and size has also had similar issues. i just think its a shame that the actions of a few can wreck so much havoc on so many.

so yes, i hate to say it but im looking for another broker. suggestions welcome, so long as it aint ib, global or man (who look like they could well acquire refcos futures business if i keep my funds there)
 
Quote from slackeral:

Nicely ssai d Fred thankyou. What's do ypu have to say about Man?
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thanks for the support.

re: man....

nothing of great significance. i just know someone who had a very bad run in with them and lost a bit of money. their commissions are also quite high i think. looking at velocity at the mo....
 
If you are a refco cheerleader than I will take the fact that you call me a prick as a compliment.

As for the rest of the insults -well I saw it coming buddy and got out while the going was good -you didn't. So if I'm a moron, you must be the guy that wishes he was bright enough to be described as a moron.

I'm a real trader, and I have been for more than a few years and if you don't believe me do you think I really give a 5hit?

I may be new to the site, but not to the industry so I really do apologise for not having some dumbass question to ask a wantabe moron.

Bye bye refco boo fecking hoo
 
Quote from FredBloggs:

thanks for the support.

re: man....

nothing of great significance. i just know someone who had a very bad run in with them and lost a bit of money. their commissions are also quite high i think. looking at velocity at the mo....
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Velocity is top-notch. IMO a good choice for you Fred.

I also share your pain at Refco's demise. I started there and have only the best of memories. Sad.
 
Quote from Pabst:

Velocity is top-notch. IMO a good choice for you Fred.

I also share your pain at Refco's demise. I started there and have only the best of memories. Sad.
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thanks - its always good to hear positive comments about brokers, and no one seems to diss them in anyway which is always good! theyre on my list. commissions look quite high vs what i am/was paying at refco though.

rosenthal collins/rcg are also on my short list - i will try and get a r/t quote tomorrow.

ive already taken man off my list - all their platforms seem to be java based or x-trader - i can probably get a better deal for x trader elsewhere (like rcg)
 
Quote from FredBloggs:

what is SAD is not being able to have a basic comprehension of the english language

pages of crap written by morons who know the square root of fuck all.

something they know fuck all about.

i just think its a shame that the actions of a few can wreck so much havoc on so many.
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Errr. the English language word you seem to be searching for is wreak.

EVERY company of refcos standing and size has also had similar issues.
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did you include this because it sounded good? You must have because it obviously has no basis in fact.
 
This fellow knows his stuff, heres the article
"Refco was a train wreck just waiting to happen"

http://www.timesonline.co.uk/newspaper/0,,176-1827492,00.html

a salient point from the article:

"Refco has always had a reputation as a sharp trader — it gave low-grade clients aggressive margins, and had a chequered regulatory history and poor compliance. At the same time some clever people joined the firm and left pretty swiftly."


also
"Goldman holds fire sale in bid to save Refco"

http://www.timesonline.co.uk/newspaper/0,,176-1827479,00.html

RIP refco
 
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