Hedge fund corners cocoa market????

http://online.wsj.com/article/SB10001424052748704720004575377140531684602.html

He made 17mil in 2002 when he did it but did his arse in 1996 when he bought even more - 300k tonnes

3rd time lucky?

 

he's a former motorcycle dispatch rider:eek:

 

I believe Jesse Livermore cornered the coffee market during WWI. The government responded by suspending coffee trading and giving rationing as the reason.

 

I could be wrong but I think it was the cotton market and I don't think he was trying to corner the cotton market, He had inadverntenly been propping up the cotton market.

 

You're probably right I'll have to dig through the book again. Although I thought he had another corner in addition to cotton.

 

His ass is toast already and gonna burn it to ashes when CC hits 2200

 

I don't understand the wikipedia entry mention of "trading places" as an example of cornering the market. I thought Randall and Randall was just trying to trade on insider information before a USDA report on the orange crop (which I believe is legal).

 

Trading on insider information is legal? You are joking right?

 

Only if your stationary says "Goldman Sachs" or SAC.