Rochdale Said to Be in Rescue Talks After Apple Trades Sour

http://www.bloomberg.com/news/2012-...advanced-rescue-talks-after-apple-trades.html

 

1) Oh......it's only a "teeny tiny" meltdown. Still interesting nevertheless.
2) How could a firm of that "size" do such a "large" trade? :eek:

 

Great question: "Closely held Rochdale had $3.44 million of capital at the end of last year, according to a regulatory filing."

 

Probably averaged down, didn't want to be one of those weak traders with tight stops that gets taken out, only to then watch the trade go in their direction.

No guts, no glory.

 

There is clearly a piece missing from this story.

 

nothing like taking large bets with OPM

 

"Rochdale Securities LLC provides competitive executions based on the expertise of our traders. Our trading desk is consistently ranked top 50 in listed trading by AUTEX."

 

I'm thinking perhaps the trader was possessed by "spirits".

It wouldn't be the first time:

http://www.telegraph.co.uk/finance/...en-stupor-and-moved-the-global-oil-price.html

 

?.......Absolut, Bailey's, Courvoisier, Dewar's, Edradour, Finlandia, Grey Goose, Hennessy.......:eek:

 

Somebody "hijacked" the back office? :eek: