大家服不服?这才是股神

ratzinger
楼主 (北美华人网)
http://www.washingtonpost.com/wp-srv/politics/special/whitewater/stories/wwtr940527.htm
http://community.seattletimes.nwsource.com/archive/?date=19940330&slug=1902853
http://www.nationalreview.com/article/436066/hillary-clinton-cattle-futures-windfall

Is Hillary Clinton a better commodities trader than George Soros, or did she just get really, really lucky? Both explanations leave something to be desired.

Hillary Clinton Futures Trades Detailed By Charles R. Babcock
Washington Post Staff Writer
Friday, May 27, 1994; Page A01
Hillary Rodham Clinton was allowed to order 10 cattle futures contracts, normally a $12,000 investment, in her first commodity trade in 1978 although she had only $1,000 in her account at the time, according to trade records the White House released yesterday. The computerized records of her trades, which the White House obtained from the Chicago Mercantile Exchange, show for the first time how she was able to turn her initial investment into $6,300 overnight. In about 10 months of trading, she made nearly $100,000, relying heavily on advice from her friend James B. Blair, an experienced futures trader.
The new records also raise the possibility that some of her profits -- as much as $40,000 – came from larger trades ordered by someone else and then shifted to her account, Leo Melamed, a former chairman of the Merc who reviewed the records for the White House, said in an interview. He said the discrepancies in Clinton's records also could have been caused by human error.
Even allocated trades would not necessarily have benefited Clinton, Melamed added. "I have no reason to change my original assessment. Mrs. Clinton violated no rules in the course of her transactions," he said.
Lisa Caputo, Clinton's spokeswoman, said the documents were released yesterday "to give as complete a picture as possible" of her trades. She said Clinton had never before seen them.
Blair, who urged Clinton to enter the high-risk futures market and ordered most of her trades, said in a recent interview that he "talked her into" her first futures trade in October 1978 before paperwork on her account was completed. It was liquidated quickly, he recalled, because "it was bigger than she wanted and required more money."
A close examination of her individual trades underscores Blair's pivotal role. It also shows that Robert L. "Red" Bone, who ran the Springdale, Ark., office of Ray E. Friedman and Co. (Refco), allowed Clinton to initiate and maintain many trading positions – besides the first – when she did not have enough money in her account to cover them.
Why would Bone do so? Bone could not be reached for comment, but Blair said he thought he knew why. "I was a very good customer," he said, noting he paid Bone $800,000 in commissions over the years. "They weren't going to hassle me. If I brought them somebody, they weren't going to hassle them." Besides, he added, Bone would not worry if he agreed with his clients' bet on which way the price of a given contract would go. Blair, who at the time was outside counsel to Tyson Foods Inc., Arkansas' largest employer, says he was advising Clinton out of friendship, not to seek political gain for his state-regulated client. At the time of many of the trades, Bill Clinton was governor. Hillary Clinton has said she made all the trading decisions herself and has tried to play down Blair's role. But she acknowledged in April, three weeks after her trades were first disclosed, that Blair actually placed most of the trades. Blair advised Clinton again on July 17, 1979. He recalled that she started that trading day by losing $26,460 on 10 cattle contracts she had held for more than a month, by far her worst loss as a futures player. On his recommendation, he said, she immediately went back into the market. She acquired 50 new cattle contracts – worth $1.4 million -- and when the price moved in her favor, unloaded them around noon for a quick gain of $10,550. This recouped part of her loss.
Blair said Clinton and other friends he suggested trades for had lost money that spring on feeder cattle. Those trades "caused everyone some grief," he said. "I'm sure I was pressing to get everyone back above water" in recommending the quick and bold day trade. The White House defense of Hillary Clinton's preferential treatment was that other customers in the same office also were allowed to trade without having enough cash in their accounts.
While Clinton's account was wildly successful to an outsider, it was small compared to what others were making in the cattle futures market in the 1978-79 period. An investigation of the cattle futures market at that time by Rep. Neal Smith (D-Iowa) found that in one 16-month period 32 traders made more than $110 million in profits from large trades -- those of 50 contracts or more. Clinton traded positions of 50 or more contracts only three times. The records the White House released yesterday were part of an investigative file from 1979, when the exchange charged Bone and Refco with violations of its record keeping and margin requirement rules. Bone was suspended for three years; Refco paid a $250,000 fine, then the largest in the exchange's history. Internal memos from that investigation cover transactions from the same period in June in which Clinton was trading, but not the same trades. In one instance, the Merc found Bone and a fellow broker were ordering 1,000 cattle contracts at a time – far over the limit allowed at the time – and then allocating them to other customers.
One internal Merc memo said "there is reason to believe" that a majority of Bone's accounts were traded without the clients' permission. Blair said that Bone at times traded his personal account without permission.
Blair said he doubted Bone traded Clinton's account without her permission.
Melamed said it was "impossible" to determine the exact cause for the discrepancies between the Merc computer record of Clinton's trades and the trading records she received from Refco, which the White House released earlier.
She said that for six trades, her initial trading position in the Refco records were not reflected in the Merc documents. On one other trade neither her purchase nor sale was included. On that trade she netted $12,150 on 15 cattle contracts she held for four days.
Clinton reported a loss of $2,480 on one of the trades in question, Melamed noted.
One was a "day trade" on hog contracts that netted $2,553. Melamed said "day trades" are the only way to assure profit even if favorable trading positions are allocated to a customer's account. Any position held overnight would be subject to the rise and fall in prices in the volatile futures market, he added. Staff researcher Barbara J. Saffir contributed to this report.
In commodities futures trading, an account that falls below the "maintenance margin" typically triggers a "margin call," where the trader must put up sufficient cash to cover the contracts. Although Hillary Rodham Clinton's account was under-margined for nearly all of July 1979, no margin calls were made, no additional cash was put up, and she eventually reaped a $60,000 profit. June 29 ......... $56,466 (Margin: Value account should have had to continue trading.) July 12 ........ -$24,243 July 17 ......... $22,537 (Account value: Total cash on hand plus (or minus) paper value of contracts.) July 20 ......... $61,537 July 23, 1979: She withdrew $60,000 and never traded again, closing the account in October.

© Copyright 1997 The Washington Post Company
ratzinger
2 楼
吸瘌痢做律师能把强奸幼女的强奸犯辩成无罪,做期货比索罗斯厉害,怪不得崇拜它的吸粉马甲一群群地飞舞
echochiu
3 楼
希腊啦真是一本活生生的腐败,违宪,违法大全。
ratzinger
4 楼
希腊啦真是一本活生生的腐败,违宪,违法大全。
echochiu 发表于 10/18/2016 10:20:32 PM
re
shunshouyou2
5 楼
行政执法
6 楼
真的假的?
fishbaby1983
7 楼
我比较感慨的的是希拉里真是来者不拒啊,不管是几百万还是几万都不放过。我以为人家只看的上米以上的单位呢 ---发自Huaren 官方 iOS APP
ratzinger
8 楼
我比较感慨的的是希拉里真是来者不拒啊,不管是几百万还是几万都不放过。我以为人家只看的上米以上的单位呢 ---发自Huaren 官方 iOS APP
fishbaby1983 发表于 10/18/2016 11:44:25 PM
一步步来的;看看年份,当年60K很值钱
ratzinger
9 楼
真的假的?
行政执法 发表于 10/18/2016 11:16:34 PM

这个是公开的数据。十个月左右,1K 变成将近100K。几乎100倍,这不是股神谁是股神?

https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy
In 1978 and 1979, lawyer and First Lady of Arkansas Hillary Rodham engaged in a series of trades of cattle futures contracts. Her initial $1,000 investment had generated nearly $100,000 when she stopped trading after ten months. In 1994, after Hillary Rodham Clinton had become First Lady of the United States, the trading became the subject of considerable controversy regarding the likelihood of such a spectacular rate of return, possible conflict of interest, and allegations of disguised bribery.[1]
ratzinger
10 楼
得到吸瘌痢交易秘诀的吸粉能不能分享一下?
s
started
11 楼
该用户帖子内容已被屏蔽
ratzinger
12 楼
回复 9楼ratzinger的帖子

据说是她老公当洲长的时候,一个公司的交易员把成功的交易都归到她名下,不成功的交易公司自己吞了。然后她老公给了那个公司法律上不少好处。
started 发表于 10/19/2016 8:52:08 AM
到底是吸瘌痢这么没底线,还是吸粉有了秘籍不肯分享?
aggies
13 楼
这么多人恨希啦啦不是没有道理的,无风不起浪
z
zhongwen
14 楼
希腊啦真是一本活生生的腐败,违宪,违法大全。
echochiu 发表于 10/18/2016 10:20:32 PM
太腐败。又卖国又亡国。
ratzinger
15 楼
这么多人恨希啦啦不是没有道理的,无风不起浪
aggies 发表于 10/19/2016 10:25:28 AM
它自己公布的trading records
ratzinger
16 楼
太腐败。又卖国又亡国。

zhongwen 发表于 10/19/2016 10:37:43 AM
从来没有过底线