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Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Safety First

I've read several articles about the advantages of futures contracts for commodities vs. owning mining companies. Mining is a risky business whereas if you own a futures contract for copper you know you have the coppper... or do you? What if your account is frozen?

Futures broker Refco is toast. It is ugly. The tentacles extend beyond Phillip Bennett (the ousted chief executive).

If you want a better understanding of what is going behind the scenes of a massive blowup I suggest you read:



...and check out Bill Cara's blog for some insight as to how ugly this situation really is.

Not Advice

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