FRONTLINE: MF Global's Six Billion Dollar Bet

Discussion in 'Wall St. News' started by OnClose, May 24, 2012.

  1. #11     May 25, 2012
  2. #12     May 25, 2012
  3. Wow he has to be shot....
     
    #13     May 25, 2012
  4. lwlee

    lwlee

    Corzine lost more than just money. His legacy was tarnished beyond repair. Maybe not as bad as Madoff but as bad as it gets.

    Before he came to MF Global, his rep was pretty impeccable, legendary even.

     
    #14     May 25, 2012
  5. Mentioned in the Frontline piece... wtf would he come on as the CEO of a dink firm like MF? Was the intent to lever his remaining assets through his personal investment in the common (via the Sov bets), or was his degen gambler persona too much for a top bank?
     
    #15     May 25, 2012
  6. jem

    jem

    Comparing yourself to Madoff to look good
    is like comparing yourself to george bush.

    when I was a kid we compared our leaders to George Washington and Honest Abe.
     
    #16     May 25, 2012
  7. '

    He says in the link I posted above that he chose MF Global precisely because it wasn't too big to fail ie he could gamble all he wanted without any regulators because futures accounts are not insured. Even brokerage accounts are insured I think through SIPC.
     
    #17     May 25, 2012
  8. What differentiates a trader and a gambler is simple, a gambler lets emotion rule the day and totally throws out risk management out the window.

    A real trader/investor is unemotional, Risk management is #1 all the time, and a trader will cut a loss right a way and call it a day instead of what a gambler would do which would keep doubling down trying to martingale out of losses into a win.

    You have to learn how to lose before you can win.
     
    #18     May 26, 2012
  9. Retired

    Retired

    Corzine is just as guilty as Madoff.

    The only reason why Corzine is not in jail yet is because he was a big Democratic Party contributor and has friends in the White House.
     
    #19     May 26, 2012
  10. timcar

    timcar

    From the "American experience" Crash of 1929


    Few Americans in 1929 lived like Jesse Livermore, but there was a rising expectation that everyone could have a piece of this prosperity.


    Jesse Livermore, whose fortune was estimated at over $100 million, never did anything in his life but play the market.

    Livermore was a speculator, pure and simple. He didn’t study the health of a company. He didn’t care whether it made a profit or paid a dividend. For him, the stock market was an abstract game of numbers.
     
    #20     May 26, 2012