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To: SAJ
I envy those of you who understand futures markets. Can anyone tell me how I could make a hundred-thousand on cattle futures with, say a thousand dollar investment?
70 posted on 07/16/2005 7:52:49 PM PDT by Colorado Doug (Diversity is divisive. E. Pluribus Unum)
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To: Colorado Doug
Yes, indeed, I can (and have told this several times before, right here on FR).

First, you need a time machine. I'm not being facetious; the trading rules of the futures mkts have changed radically, and much for the better, since Hitlery made her little score.

She didn't trade squat, m'friend, her ''profit'' was a straight political payoff, not dissimilar in any way from laundering drug profits, and it was accomplished as follows:

It used to be the case for futures brokers, that, if they had, let's just say, 30 clients trading in a mkt and all the clients wanted to get long (i.e. buy futures) on said mkt, presumably on the brokerage's recommendation, that our hero (the broker) would buy 200-300-500 lots, whatever amount in that mkt on a given day. Then, after the close of said mkt, he would portion out the purchases, 5 lots here, 10 lots there, 50-odd sometimes, to the clients. The larger clients (or, in Hitlery's case, the more favoured ones) were assigned the futures contracts with the **best**, i.e. lowest, price on purchase. Less favoured clients received the worst buy prices.

This was the practice known as ''allocation''. Today, and thank goodness, it is thoroughly illegal. Rather amazingly in retrospect, at the time (late 1970s), this practice was merely frowned upon, both by regulators and brokerages. Go figure, eh? (w!)

Now, the truly fascinating part about Hitlery's ''trading'' is that -- and I've seen the trading statements, you can too by applying to the U.S. Attorney -- in her ''trading'', she was short the LC mkt almost always. This is curious in the extreme, in that the cattle mkt, during her ''trading'' career, was undergoing one of the single largest bull moves in history at the time.

A very ugly joke on, and pastiche of, trading, and it's just a plain damned shame she's never been forced to disgorge these illicit profits.

You want to trade, fine. More power to you, and I hope you prosper. You want to ''trade'' as Hitlery did? OK, fine. Do it in some other nation, and be sure to have a VERY good sleazeball attorney.

FReegards to you!

73 posted on 07/16/2005 8:14:35 PM PDT by SAJ
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