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 States Highridge’s $50 Million Is ‘Located’

Lets all hope that of the money missing at MF Global is found and rightfully returned to the clients of MF Global. We are on the right track and hopefully we should be receiving approx 72% of our money in the next coming weeks.

Below is a recent Bloomberg article

Dec. 13 (Bloomberg) — Highridge Futures Fund LP’s $50 million account with defunct MF Global Inc. has been located and a portion of the balance could take several weeks to transfer, the trustee liquidating the brokerage said in a court filing today.

Trustee James Giddens said $30 million from one of Highridge’s two cash accounts is part of a third transfer of funds back to customers that was authorized yesterday. The transfer “is logistically complicated” and some transfers could take several weeks to occur, lawyers for Gidden said in a court filing today.

Other Highridge funds are under the control of MF Global’s foreign former affiliates and “the trustee is not in the position to make any meaningful distribution of those funds at this time,” the lawyers said.

Giddens urged a bankruptcy judge to reject Highridge’s request to immediately transfer the funds, saying demands for individualized treatment is unfair to other account holders.

Highridge had said in a court filing that the money was missing and Giddens had failed to provide information about the whereabouts of the funds. Highridge described itself in the filing as a registered commodity pool incorporated in Delaware, with a general partner that is an Illinois company. Its account contains mostly cash and also unsettled commodity positions.

Giddens has transferred about 38,000 commodity accounts to other firms, and said he plans to sell 330 securities accounts. Three transfers of collateral made and pending will give commodity customers about $4 billion of their assets, according to court filings.

The brokerage case is Securities Investor Protection Corp. v. MF Global Inc., 11-02790, U.S. District Court, Southern istrict of New York (Manhattan). The parent’s bankruptcy case is MF Global Holdings Ltd., 11-bk-15059, U.S. Bankruptcy Court, Southern District of New York (Manhattan).

–With reporting by Linda Sandler in New York. Editors: Peter Blumberg, Michael Hytha

–With assistance from Linda Sandler in New York. Editors: Peter Blumberg, Michael Hytha

To contact the reporter on this story: Karen Gullo in San Francisco at kgullo@bloomberg.net

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net


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