MF Global suffers 1415m wheat loss - Future and Options Intelligence

MF Global suffers $141.5m wheat loss 28 Feb 2008

MF Global has incurred a $141.5m loss after a failure in its retail order entry system allowed a retail trader to establish significant positions in his own account which were liquidated...

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In several crucial ways, commodity derivatives differ from conventional insurance. Ordinary insurance companies only insure against bad events, which no one wants to happen: death, fires, ships sinking. If these things happen the insurer loses; the insured is compensated. The bad events can be made less likely through precautions, but cannot be made more likely except by heinous crime. And no one can make a lot of money by being spectacularly right.

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MF Global suffers $141.5m wheat loss 28 Feb 2008

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