There is some good news but mainly bad news in my MF Global saga. The good news: my missing MFG money is safe and I will be getting it back in “due course.” I was told that 60 percent of the funds were in the process of being transferred. I think that means to me, but apparently “due course” does not mean this week, or even the next. So the check is not exactly in the mail.
Most investors don't have the opportunity to invest directly in funds such as the MF Global Fund discussed here. However, there is a broader point worth noting. Focus on working with funds and advisors with third party custodians rather than those who "self-custody". These organizations do not take physical possession of your assets and do not have authority to remove assets from your accounts. It is an additional layer of protection for you as an investor.
If you do use a firm which has "self-custody" of assets be especially diligent in monitoring your accounts.
