|
PureBytes Links
Trading Reference Links
|
Mark,
While it sure is sweet of you to continue to address me on your LFG updates
it really isn't necessary. As I said, I'm not affiliated with LFG in any
way and that certainly includes not having an account with them.
As for my comments regarding your original post, they still stand. As a
refresher, rumors about this stuff without specifics or until facts come to
light do no good whatsoever and can be quite harmful. As your post seem to
indicate there now seem to be a few facts surfacing. I hope everyone with
an account with them comes out OK. If they are in trouble it is very likely
someone will step in and take over the accounts.
Regards,
Tom Alexander
----------
> From: M & TC <mseflin@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: A Vote for Rumors and Facts;
> Date: Thursday, October 15, 1998 10:16 PM
>
> Larry,
>
> Thank you....and Tom here are some facts....Steve Clemens does have
special
> trading accounts with different people...these are not the accounts of
the regular
> trader. Basically as of today and per the information from a person who
is
> management in LFG, Steve has incurred approximately $32 million in
currency
> trading losses. It was $40 million..and they were able to reajust the
trading
> position and recoupe $8 mil. LFG is still in trouble...and are in talks
with
> other companies for loans.
>
> Since the trading funds of the regular customer is in seggragate accounts
they are
> protected, but should LFG go BK then I would be concerned as to who will
be in
> charge of the segragated accounts and is it possible for the courts to
tie all
> accounts up until the whole issue is resolved?
>
> Mark Seflin
>
> Zaitzeff@xxxxxxx wrote:
>
> > Tom, I believe Mark stated the situation as it was: a fact; i.e.,
that there
> > was news on the street about a problem with LFG. Do we want access to
rumors
> > (or is is simply early news)? I do. Perhaps the S&P is not a swayed by
rumors
> > as much as OJ and cotton, but then why “buy the rumor; sell the fact?”
I know
> > I can make a lot of money by early access to early news (and even
rumors).
> > One, - we may never know all the true facts; and situation/facts as
reported,
> > are all colored by our perceived sense of reality and biases and
releases of
> > news by many with particular agendas and/or conficts of interest,
and/or legal
> > restrictions.
> > Larry Z. Seattle.
>
|