Famed contrarian investor Bill Fleckenstein is one of the numerous MF Global customers whose money has not been returned post-bankruptcy. As he clarifies, its his own personal money, not his fund’s.
In an interview with Margaret Brennan on Bloomberg TV, he’s somewhat optimistic that the money will be recovered, if only because nobody has been charged with a crime yet, which you would expect to see if there had been fraudulent intermingling of funds.
That being said, he thinks the authorities have done a terrible job communicating to clients what the status of the investigation is, and the prospects for the money’s return.
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