Andrew Abraham

andy-0101 My name in Andrew Abraham. I have been investing in commodities and managed futures since 1994. I adhere to the philosophy of trend following. Trend following stresses a disciplined approach to commodity/ futures trading. Successful trend following and commodity futures investing requires patience, discipline and actively managing the risk. What sets me apart from other traders is that I am not only concerned about the return on investment but how much risk I will have to tolerate to achieve my goals.

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If you are interested in contacting for speaking engagements. Please email me at Andrabr9@gmail.com or call 954 903 0638.

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Futures and commodity trading involve substantial risk. The evaluations of futures and commodities may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or an implied promise, guarantee or implication by, that you will profit, or that losses can or will be limited in any manner whatsoever. Past results are no indication of future performance. Information provided on this website is intended solely for informative purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible, where projections of future conditions are attempted.

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MF Global Trustee Giddens- Years of investigation and close cooperation with JP Morgan

A colleague of mine forwarded this youtube video last night.

This is the exact statement that Trustee Giddens for the MF Global Bankruptcy made in June of this year in regard to the Lehman brothers failure (Hughes Hubbard & Reed partner), Years of investigation and close cooperation with JP Morgan

Trustee James Giddens made this exact statement!

Why in court lawyers for MF Global Trustee stated there is no conflict of interest and that they only did a very small amount of work for JP Morgan?

How can there not be a conflict of interest? What does close cooperation mean?

Andrew Abraham
Abraham Investment Management


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1 comment to MF Global Trustee Giddens- Years of investigation and close cooperation with JP Morgan

  • Ricardo Indradjaja

    Dear Andrew,

    As a regular (non Wall Street) person, I have some questions about some facts regarding MF Global that defy logic (according to me) and I couldn’t get any satisfactory answers from the trustee or the internet. So I write this email to you, and hope that you can provide the answers.

    1. In the bankruptcy filing, MFG listed assets of $41 billion and liabilities of $39.7 billion. Doesn’t that mean that the company still has positive asset of $1.3 billion? Isn’t this surplus asset of $1.3 billion sufficient to cover the missing $1.2 billion in customers’ account? Why hasn’t anyone raise this fact? Why don’t they get the $1.2 billion from this excess assets of MF Global to distribute to customers?

    2. Regardless of point 1 above, shouldn’t the customers’ accounts (which should have been segregated by MFG) have higher priorities than creditors’ claim? After all, the customers’ funds should have been segregated in the first place and must not have been used to cover any trades for MFG. That means whatever losses incurred in MFG’s own trading operation must affect only MFG’s corporate assets and not customers’ funds/assets, and therefore any shortage in customers’ funds should be covered/repaid by MFG’s corporate assets first before releasing/dividing the corporate assets among the creditors.

    However, in contrary to the above, I read that the customers’ missing funds will be treated as unsecured credit, which means that customers who were supposed to be safe and segregated will rank LOWER than the secured creditors, who knew the risks when they made the loan to MFG. How can this happen? And why are the customers being sacrificed? Why is the government allowing this to happen?

    3. What will happen with customers’ accounts in MFG New York that was trading foreign exchange (forex)? When will these accounts be released or transferred? Are they considered as futures account? Why has there been no information about these forex accounts? I have been trying to get information about this but cannot get anything on the web. The only news about forex accounts are for customers in MFG Canada, which will be released by Nov 30.

    Regards,
    Ricardo Indradjaja

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