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Scott Raynovich
User Rank
Blogger
Re: MF Global
Scott Raynovich   11/4/2011 12:57:10 PM
NO RATINGS
What they are saying today is that customer accounts will be transferred or liquidated by the end of the weekend. What they are not saying is whether customers will have access to 100% of the cash. One theory going round is the bondholders will sue and thus customers will be docked the percentage of the cash that was missing from the segregated customer funds (which at last report I saw was about 12%).

That being said, I am on top of it and the situation is very fluid but regulators want it finished but the weekend because of legal/technical issues having to do with open positions and collateral covering them.

--Scott

yalanand
User Rank
Platinum
Re: MF Global
yalanand   11/4/2011 11:44:49 AM
NO RATINGS
As a fellow MF Global account holder, thanks for the update.  Better than any I have seen elsewhere regarding the future account holders.

@roblon did you check your account ? Is your fund safe ?


tokyogai
User Rank
Platinum
Re: Bill Gross
tokyogai   11/3/2011 10:01:41 AM
NO RATINGS
I agree. It goes to show it doesn't pay to have all your eggs in one basket. It might fall.

Phoenix
User Rank
Gold
Re: MF Global
Phoenix   11/2/2011 8:15:40 PM
NO RATINGS
Who do you think is most likely to acquire MF Global at the moment? @Roblon Hope you and Scott don't suffer any losses. It looks like you can't really trust any of the firms these days. Hope what they said about locating all of their clients money is true.

Value Hiker
User Rank
Platinum
Re: Bill Gross
Value Hiker   11/2/2011 7:33:21 PM
NO RATINGS
It definitely hurt my confidence in these brokage firms. Now I will spread my investments on different brokages. But to remember all these different websites & passwords is really a pain. However, it is better to be safe than sorry.

 

driven
User Rank
Iron
Bill Gross
driven   11/2/2011 4:49:03 PM
NO RATINGS
"Bill Gross, manager of the world’s largest bond fund at Pacific Investment Management Co., said the collapse of MF Global Holdings Ltd. may further erode investor confidence". Wow. Really? Ya think?

roblon
User Rank
Iron
MF Global
roblon   11/2/2011 2:47:19 PM
NO RATINGS
As a fellow MF Global account holder, thanks for the update.  Better than any I have seen elsewhere regarding the future account holders.





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