The following is the true story of ME, Nate Graves, the once broker, still trader, and the atrocities committed by Man Financial--now known as MF (appropriate) Global. Names will be named and everything you read is true. Upon speaking with legal council, there is a strong possibility that they will attempt to sue me, but I am also aware of my countermeasures. Knowing this, my story must be told. Any lawsuit from MF Global, Man Financial, or anyone mentioned in this blog is not only welcome, but dared.....
It all started out simple enough... I began my career in 1990 working for a company called Lind-Waldock at the Chicago Mercantile Exchange. It's amazing how many people in the industry started with that company as they were a large retail (schmuck) brokerage firm of their day. They are now under the MF Global umbrella. I started out as a grunt runner, taking orders to brokers which, in that day, were not only adept at raping and pillaging, but they embraced it and reveled in that fact. In short order I earned the position of "phone clerk" which was a much higher paying position. I had been in the business for about a year and decided that I'd like to give trading a whirl so I did. I purchased a seat on the Mid-America Commodity Exchange where I learned how to trade the hard way. I completely "blew out" (lost all my money) twice before 1994. Discovering that I simply was not that good at theft (in those times--before electronic trading--it was all rape, pillage, and steal--as opposed to now where the only people trading are EXTREMELY well funded or quant. math geeks) so I decided to work for another brokerage firm. I landed my first respectable gig working for Transmarket Group which was owned by a guy named Ray Cahnman. Ray was an interesting fellow to say the least--he figured out not only how to trade something called the "yield curve", but to master it. Still trading, Ray is one of those brilliant people--so brilliant, in fact, that he was always terribly lacking in simple social skills, which at that level of intelligence is actually quite common. I was so good at executing his trades that I soon earned the nickname "Nails", because I could pull of shit that would make others do the said same in their pants. I miss those days, and Ray Cahnman is quite simply a good human being. While at TMG, I met a client that would play an interesting role in my life--Roy Niederhoffer, the CEO of R.G. Niederhoffer Capital Mgmt. A relationship was created there that would far surpass the odds of length of time regarding the broker/client relationship. More on that later. I had gone as far as I could at TMG, so I spread my wings and went to go work for a Japanese bank called Yamaichi. That didn't work out so well as they had a little accounting issue. I can't call the exact details, but I do recall that all the positive numbers they had on their books should have been in these: ( ), AND been followed by some of these: -------. The bank vanished overnight, I was unemployed. As fate (and fortitude) would have it, I wound up working for a company called GNI (Gerrard and National)--a large brokerage firm based in London. The CEO of GNI in America was a guy by the name of Larry Arnowitz. Now Larry and I didn't always see eye on a lot of things, and, in my opinion, he had a pretty FUCKED UP way of dealing with me at times. With maturity, I learned that "FUCKED UP" way of dealing with me was very much like a father dealing with his son. People can say what they want about Larry, but I know him as what is known as a "good man". For whatever it's worth, I just can't say that about many people... While I was at GNI, I also met another person who falls into that category and who is STILL an amazing broker--Craig VanZanten. VZ (as we called him) is also a man of integrity. Fond thoughts still run deep for both Larry and Craig till this day, and always will. Arno was a freaking genius--scratch that--fucking brilliant. Larry saw and KNEW that, as much as we all wanted to buck it, electronic trading and the vanishing trading floor was coming like it or not. Larry Arnowitz, Tyler Bearuegard (who I wish I could track down--one of the most real dudes I've ever met), and myself, literally spearheaded "E-Commerce". Yep, E-Trade, Interactive Brokers, Options Express and the like--yeah, that was the 3 of us bringing their screen trading dreams to fruition. Little did we know it would be our undoing.....
In 2003, GNI was acquired by the largest brokerage firm in Europe--Man Financial. That merger was one of great trepidation, and now I know why. A guy by the name of Kevin Davis came to our offices to introduce himself as the CEO of MF. The day I met him he was wearing a tie with the Union Jack and the US flag, crossed. I commented to Kevin that I liked his tie. In his own extremely approachable and personable way, he took it off and gave it to me. I had NO idea that he was handing me my noose. What happened to Arno was inexcusable. I was told by John Goldsberry that there was "kiddie porn" on Larry's computer (they confiscated all of our computers), but they didn't open the so called porn files because if they had, not only would he have been fired, but turned in to the authorities as well. Now this is a real can of worms for me to mention that, I know. But riddle me this: how the FUCK do you know if there is "kiddie porn" on someones computer if you haven't looked at it??????? This was just the beginning of what would be the worst experience with the scum of the earth--ever. Regardless, Man had acquired us, kept the brokers who made a bunch of dough, and mercilessly fired everyone else. The story goes on...
Larry was gone--the only boss I not only trusted, but confided in. He was fired for this one reason: the guy who ran MF in Chicago--John Goldsberry--was, is, and always will be, a complete fucking idiot. The only person less qualified to be the EVP (or whatever) of MF was the ginger-haired and bearded beggar that always stood outside the CBOT. Larry was a creator and a visionary. Goldsberry was put into his position in a much more dubious way.....
I tried the best I could to get along with Goldsberry, but he just didn't get it. JG walked around the office in a constant state of oblivion. Roy Niederhoffer wanted to clear all of his business thru me at Man Financial. The confusing part is there are 2 Niederhoffer's. One is Victor, the other is Roy. Vic played a fair part in the Stock Market crash of '97 so firms were leery of him, HOWEVER, he was already on the MF books as a client (what theeeeeeeee fuuuucccckkkkkkkkkkkkkkkkkkk?????), but prior to that he was the #1 CTA (Commodity Trading Advisor) for 10--TEN years in a row. I guess you truly are only as good as your last trade, eh? Goldsberry did NOT have the ability to differentiate between the two brothers--at all. We had shouting matches in front of peers--the whole 9 yards--and this FOOL didn't get it until i flew out to New York, had a discussion in a cab with Kevin Davis, who eventually made the whole thing happen. So here we are--I'm the SVP of the "E-Commerce" division (electronic trading) at MF, which Larry, Tyler, and I, created. One day I get called into the office of John Goldsberry. He sits me down and tells me that he's bringing in someone to "really beef up" E-Commerce. Little did I know at THAT time I was about to answer to the biggest flunky and complete douche-bag, ever, with a family history of deceit and theft. Apples never really fall far from the tree.....
Along comes a spider...... Shortly after my "meeting" with Goldsberry, I was introduced to an assHOLE by the name of Steve Monieson (still at MF Global, so be sure to drop him a line to say "hi" :)). It was obvious that Monieson was a fucking moron as well. That was fine as I could deal with morons. What I didn't know is how closely he would follow in his dead and rotting father's footsteps. The addition of Monieson was confusing, so I started to ask questions. THIS is what I found: when John Goldsberry and Kevin Davis started in the commodity business, they both worked at the same firm for the same piece of shit--Brian Monieson, CEO of GNP Commodities. Yep, you guessed it--that was "Steveo's" daddy. To save myself the trouble of what went on with THAT firm, here's a link: http://www.highbeam.com/doc/1G1-9194279.html No, the apple did NOT fall far from the tree, and Brian Monieson obviously trained his son WELL. So here we have a bunch of buddies who all started out at the same firm, had been friends forever, and now, Brian Monieson's son was MY boss of something I helped create!!!!! Not sure yet on my thoughts of Kevin Davis... TBD. Regardless of what I think, Kevin at least had brains, and made it on the toughest business in the world on his own steam. THAT is how John Goldsberry acquired his position, and Steve Monieson, his.
I'm going to abbreviate what would normally be a very long story. I was bringing in a rather large amount of business for MF. In fact, I still have the email I received from KD (Kevin Davis)--"I wish I could find 50 more brokers like you. I cannot." Typical split on commissions is 50/50--that was the street average. At the time, MF was offering brokers a 60/40 split to come on board with business. At that time, I was getting 40%. Thinking that wasn't quite kosher, I went to Steve and told him I wanted 50%. He said "no fucking way". I went to KD--he had a different opinion. I got my extra 10% by jumping over thieves heads. They didn't like that--it was also the beginning of the end...
I was making multiple, multiple 6 figures a year--a LOT of money to me at that time. In Q4, '04, Monieson called me into his office and informed me that E-Commerce (Larry, Tyler, and I created) cost 1.2 million dollars to run. So, fuck the whole thing about the company paying their expenses out of their cut of commission like WE brokers did--Stevo had a better idea. There were 4 "brokers" in E-Commerce now: Me, Jeff Hosier, John Dungan, and (whatever) Steve Monieson. Since there were 4 of us, the "cost" of E-Commerce would be easily split between the 4 of us. Steve held $300,000 out of my year-end (of quartly) bonus check. Stunned, I asked the other "brokers" what they thought of THIS bright idea. They had NO idea what I was talking about. I kept my mouth shut--I knew the end was near. Now at this point in this sordid mess, I do find it necessary to point out that I was/am a RAGING alcoholic (thankfully in a long state of recovery). Did it affect my job? No. If all you did in that business was drink, you might as well have been a choir boy. In 2005 (and I can only wonder why) the drinking turned deadly. On more than one occasion, I was carted into ER's and rehab facilities, leaving doctors scratching heads as to how the HELL I was even still alive--my blood alcohol content being north of .50--legally drunk is .08 in Chicago--you do the math. In 2005, a friend from RGNCM pretty much told me that if I didn't go to rehab, I would lose their business. I went. My only regret was the abandonment from RGNCM when the shit hit the fan. It's amazing how "friends" and clients of 12+ years didn't do me any good as far as going to bat for an obvious wrong.... I still, however, consider them friends and always wish the best of luck.
In July of 2005, I wound up (for the second time--the first being a disaster) at a place called "The Watershed" in Boca Raton, Fl. While there, I was informed of my termination because, by phone and email, I had supposedly "threatened to kill" Monieson, Goldsberry, and someone else--don't even know who. HR in NY was dealing with my sister (of all people) as my liaison! Now, I love my sis I would say, and she WAS in the business as a runner or something for a while. I told her that she was WAY out of her league on this one. These people would sell their own mom for a buck if they thought they could get it. She dove head-first into the most vicious shark tank of all--completely expecting to swim. All I'll say is that it certainly did NOT help my situation, but that's by the bye. Blood is still thicker than water. Now the problem with making a wild accusation that I "threatened to kill" people by PHONE AND EMAIL is significant. EVERY phone line at a brokerage firm is, by law, recorded, and every email, by law, kept for 2 years. In firing me, they offered me a couple hundred thousand to go away (but I couldn't sue them). My response was pretty simple: FUCK YOU. And that's what I did.
Now I have been advised by legal council that I cannot say if there was or was not a lawsuit. I cannot say that if there was, I won (or settled), so I will leave those and other facts to the imagination of the reader. The ramifications of what Man Financial--NAMELY: John Goldsberry, Steve Monieson, and Kevin Davis did to me were monstrous. I had just build a 500k home--gone. What was left of my family--gone. My relationship with my children--strained, but back now. I've told people my story, and the consensus is pretty much the same--"I'll bet you wish they WERE dead!!!!!". Not so fast--death is pretty final. My wish, my hope, my prayer, is for each of them to live long, long lives. It is in this hope that they will see their children grow and flourish so they can see first hand when something similar happens to them. I'm not much of a Bible thumper, but I do recall something dealing with the responsibility of one's own actions, and the plug in the Bible about that says a bit about the "sins of the fathers" coming to visit generationally. I've learned that what goes around eventually will come around. When that day comes (and it usually does), I just hope I'm around to hear about it. Will it give me joy? Dunno yet. Satisfaction? Fuck yes. The damage that was caused to me, my family, my children--all in the name of simple Corporate Greed--was monstrous. The ramifications of what they did, these educated derelicts will probably never understand. I don't know what flashes through a mind when one dies, but when these fools are on their death beds, I can only hope that last thought is ME. Now I also find it of great importance to note that this can in no way be construed as a threat as it is not. I wish no bodily harm on any of these pieces of shit. On occasion while in the city I have seen Steve Monieson and he has seen me. And that little piss stain that magically appeared when he saw me was truly priceless!!! What it is is a gentle reminder of days and deeds gone by. I have no doubt that some fool will try to sue me. My words to those who may try--I. Fucking. Dare. You. Go on, give it a whirl, sport--let's see how that works out for you. THAT would garner enough attention to put that company and it's offenders to rest. I'll keep ya posted! TO CONTACT: n.graves70@yahoo.com
