Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of troubled broker MF Global
So what: After an incredibly turbulent week that included a major earnings disappointment and the painful reveal of massive bets on European sovereign debt, MF Global filed for Chapter 11 bankruptcy protection. The company, run by former Goldman Sachs
Now what: You hear that sound? That's the fat lady singing. The process forward is probably going to consist of seeing MF Global sell off its yet-attractive crown jewels to pay back as much as it can to creditors. Equity holders? Yeah, they'll probably end up with bupkis.
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