More Money could be coming to PFG investors. the Wall Street Journal is reporting that two parties are interested in buying off one of the last asset’s belonging to Wasendorf Sr. It’s a Romanian Property venture that has 32 investments into property. Whatever proceeds come from this will be a small percentage of what customers are still owed, but a little bit helps.
Category: Macro Commentary
08
Jul
2013
03
Jul
2013
Record Volume Growth at Dubai Mercantile Exchange, Still Lags CME & ICE
The DME just came off a record trading volume this past month, giving optimism to establish the Oman crude oil futures contract. While the Oman has a long way to go, it on instills a potential path for the CME to control their previous dominance as the number one exchange, as the CME essentially owns the DME.
25
Jun
2013
Restoring Confidence, one (CFTC) Lawsuit at a Time
Almost two years after the initial investigation into MF Global misappropriating $1 Billion of customer money, the CTFC is announcing its plans to file a civil lawsuit against the former MF Global CEO. While charges haven’t been filed yet, the CFTC will file suit without an option for a settlement. Case new frontier for government regulators.
21
Jun
2013
Droughts, Crop Yields, and all that Ag Market Stuff…
First farmers had a horrible planting season because of the 2012 drought, and now they’ve had to delay planting because of record breaking rain in 2013. As summer begins, M6 Capital offers an outlook on what’s to come for Corn and Soybeans during harvest. Plus a behind the scenes look at strategy for an AG trader.
10
Jun
2013
MF Global Trustee Leaves a Winner
Louis Freeh is stepping down from his role assisting in the liquidation of MF Global, but this is more of a celebratory “going out on top” type exit than getting out of a bad situation – with a federal bankruptcy judge recently approving a final liquidation plan for Corzine’s collapsed firm. With former customers slated for a full payout, things are definitely looking up.
05
Jun
2013
CFTC Sues US Bank over PFG Fraud
Better late than never. After almost a year of us (and others) saying it should happen, the CFTC has finally announced a suit against US Bank, alleging unlawful use of customer funds. You can read the full complaint here, and it is chock full of interesting/sickening/vomit inducing items depending on how much you have personally […]
28
May
2013
The Hedge Fund Mirage Strikes Again
There are certain ideas in finance that behave like bad sci-fi movie monsters. Whether they are born in a dark, shadowy corner of the world or produced by some well-intentioned soul, they soon take on a life of their own. Only after they’ve spread does it become clear that something isn’t quite right. Eventually, someone […]
23
May
2013
That’s Not a Sell-Off, THIS is a Sell-Off
Only a couple of days after we reposted a chart from Stocktwits comparing the Nikkei rally to the Dow’s climb over the last year, and suddenly things have turned very sour for the Japanese market. It may only be one day’s hiccup in a long climb, but the Nikkei is making the Dow look downright tame by comparison.
22
May
2013
Gensler’s MF Global Getaway
As MF Global continues unwinding at the speed of bureaucracy, new pieces of information have been few and far between. But this week, the Inspector General of the CFTC released a report examining the CFTC’s oversight and regulation of MF Global, and it’s not very flattering for CFTC Chairman Gary Gensler.
16
May
2013
Alternatives Demand Set to Soar?
A new survey predicts demand for retail alternative products will soar in the coming years. It’s good to see more investors seeking access to alternative investments, but with new products springing up all the time, the world of retail alternatives is quickly becoming a difficult place to navigate.
