A pleasant trading error

Discussion in 'Trading' started by Cutten, Mar 29, 2004.

  1. Cutten


    I checked my account statement today, and found that the settlement price for one of my products was priced incorrectly. As a result, my statement is currently showing a balance of slightly over $50 million. Question is, what should I do?
  2. Funster


    I once had one of those in the early days of paper futures statements sent the next day to you.

    Think I've still got it framed somewhere!

    I didn't say a thing - I thought I would give it at least a week before escaping the country with the loot :p

    In any case they reversed the error in the following day's statement.

    Nice while it lasted.
  3. what an idiot

    you started with 51!

    jokes on you1

    :p but
  4. pspr


    You obviously need to buy futures! Get a little wheat, a little corn, some cattle and maybe a few stocks. Oh yeah, might as well buy a lifetime supply of oil futures too.

    And, send a nice 'thank you' note to your broker.

    You probably should try to corner a market like silver or something too.
  5. Buy your broker with the 50mil, then fix the error when you own the brokerage.
  6. newtoet


    Wire the money to me. I will "launder" it, and return it to you in smaller increments that cannot be traced. Minus my 5% fee, of course.
  7. GSCO


    why Brazil???
  8. Don't go to Brazil; choose a country with no extradition treaty!
  9. I had an error back in 2000 when I asked for a $11,000 wire to be sent to my bank account. They sent it twice and didn't notice it for almost 4 mos. However, their Reconcilation Dept finally caught on and I paid it back without a fuss.

    I vote, keep it there and earn the interest. Of course, if you're willing to pack up all your stuff and move to a non-extradition country and willing to run from the IRS for the rest of your life (since I doubt you'll want to pay income tax on your winfall gain), then go for it.

  10. anybody would take that deal. i would move anywhere with 50 mil.
    #10     Mar 29, 2004