The Threlkeld theory? The funds fiddled and China got burned
Nov 18, 2005 | 04:50 AM
|
The pattern in the China copper trading affair is not new, according to David Threlkeld, who draws parallels not with former Sumitomo Corp. trader Yasuo Hamanaka but with Juan Pablo Davila.
The Corporacion National del Cobre de Chile (Codelco) trader racked up losses of $186 million when he got himself into a large, unauthorized short position that Codelco eventually covered.
Threlkeld, president of base metals merchant Resolved Inc. in Scottsdale, Ariz., said the pattern in the case of errant Chinese copper trader Liu Qibing is strikingly similar five or six parties with long positions in copper squeezing an unauthorized short they might, in fact, have orchestrated.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here