To: Jamie153 who wrote (1286350 ) 1/5/2021 1:41:50 PM From: Brumar89 Read Replies (1) | Respond to Hillary's cattle futures trades aren't a conspiracy theory.In 1978 and 1979, lawyer and First Lady of Arkansas Hillary Rodham Clinton engaged in a series of trades of cattle futures contracts . Her initial $1,000 investment had generated nearly $100,000 (equivalent to $352,269.6 in 2019), [1] when she stopped trading after ten months. In 1994, after 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 . [2] It was suspected by commentators that the profits were in fact allocations to her of profits from unrelated large block trades managed by her investment advisor James Blair , outside counsel to Tyson Foods , Arkansas' largest employer, in an attempt to gain influence with her husband Bill Clinton , then Governor of Arkansas . ........... By January 1979, Clinton was up $26,000; [5] but later, she would lose $16,000 in a single trade. [5] At one point she owed in excess of $100,000 to Refco as part of covering losses, but no margin calls were made by Refco against her.[5] Near the end of her trading, Blair correctly predicted a market downturn and sold short, giving her a $40,000 gain in one afternoon. [5] ................ Various publications sought to analyze the likelihood of Clinton's successful results. Clinton made her money by betting mostly on a market downturn at a time when cattle prices actually doubled. [13] The editor of the Journal of Futures Markets said in April 1994, "This is like buying ice skates one day and entering the Olympics a day later. She took some extraordinary risks." [3] Her activities involved exposure to losses that could have been greater than her family's net worth if the market had turned sharply against her. [14] The former head of the IRS chief counsel’s Commodities Industry Specialization Team expressed skepticism that a novice trader could make such a return. [15] One analysis performed by Auburn University and published in the Journal of Economics and Finance claimed to find that the odds of a return as large as Clinton obtained during the period in question were about one in 31 trillion. .......... https://en.wikipedia.org/wiki/Hillary_Clinton_cattle_futures_controversy
