Apparently if you’re part of his investment “family,” not only is your account zero, you now owe money.
This boy lost a lot of money.
James Cordier of Optionsellers.com humbled by extreme market fluctuations in natural gas & crude oil. Apologises to his clients, who were totally wiped out in the process. It appears he lost big w/ short calls in crude, and saw an opportunity in natural gas. Things got much worse as natural gas rallied beyond what most expected, and buyers of the calls he sold cashed in, wiping his Hedge Fund out. Deep sympathy for his clients. More than likely Mr. Cordier was attempting to recover losses for his fund so his clients would finish 2018 on a high note. No speculation at all on intent other than giving the benefit of the doubt. It is a warning to all traders and investors to be cautious and manage risk.
… investors not only lost all their money in what the firm calls a “catastrophic loss event,” …they would also owe money to Intl FC Stone for margin calls…
h/t Know Nothing