Corzine Stop Run?

[Predictor 11]

I hear that if Corzine (MFGLOBAL) could have kept his positions that they would be worth quite the fortune now. Anyone have more specific information about how those bonds are doing?

 

Here is one such article...

 

http://www.bloomberg.com/news/2012-12-20/if-you-bought-greek-bonds-in-january-you-earned-79-euro-credit.html

[SIUYA 11]

yep - its just a classic story of too much leverage, too much risk and too much ego.

Risk of ruin kills many and hindsight is a wonderful thing.....imagine how many client funds might have disappeared otherwise.

 

Regardless of what anyone things of the Fed/govt being the lender of last resort - they do have enough deep pockets and patience if the trade is right, whereas us mere mortals have to take other things into consideration.

 

I once had an argument with a banker from UBS who claimed that the only thing LTCM did was run out of money otherwise their trades were good too. :doh:

 

Thats like saying i wouldn't have starved to death - its just that i ran out of food. (bringing in your fasting regime for good measure - i hope thats going well.)

[TheDude 10]

I hear that if Corzine (MFGLOBAL) could have kept his positions that they would be worth quite the fortune now. Anyone have more specific information about how those bonds are doing?

 

Here is one such article...

 

If You Bought Greek Bonds in January You Earned 80%: Euro Credit - Bloomberg

 

I'd estimate that at least 50% of my losing trades came back to profit at some point.

 

The question is, did I have the margin or balls to finance these positions?

 

Clearly my timing was off either way. So was his.

 

Anyhows, they guy's a scum bag and should be locked up.

[zdo 20]

I'd estimate that at least 50% of my losing trades came back to profit at some point.

 

The question is, did I have the margin or balls to finance these positions?

 

Clearly my timing was off either way. So was his.

 

Anyhows, they guy's a scum bag and should be locked up.

 

exactly!

...what would have been wrong with 'stopping out' and getting back in later - instead of leveraging stolen money?

 

...yet instead of locked up he's being called over to eur as a consultant...

 

...and Predictor, what was the point of your OP?