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Sunday, July 8, 2012

A Cotton Trader Accuses Firm of Market Manipulation - WSJ.com

A Cotton Trader Accuses Firm of Market Manipulation - WSJ.com

"Mark Allen made a name as a cotton trader unafraid to take big positions in risky markets where many others wouldn't go.Now, less than a year after suffering huge losses trading cotton and losing his job at one of the world's biggest commodities firms, Mr. Allen has returned with another bold move: accusing the industry's biggest player of market manipulation"

"Mr. Allen, a cigar-smoking Australia native in his mid-40s, was dismissed as head cotton trader at Glencore International PLC last fall, shortly before the company disclosed to investors that his group had lost hundreds of millions of dollars"

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