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  • Top 10 Biggest Trading Losses in History

    From time.com

    Read Full Story at time.com

    German metalworking conglomerate Metallgesellschaft AG gambled hard and fell even harder. In 1993 the company lost $1.3 billion after speculating that oil prices would rise. Oil plummeted, however, forcing shareholders to hastily put together a $2 billion rescue package to keep the company from going under bankruptcy. CEO Heinz C. Schimmelbusch, widely respected as a financial wunderkind, was quickly ousted along with most of Metallgesellschaft’s senior management. The company sued Schimmelbusch in the U.S. and Germany, accusing him of breach of duty in the trading losses. The ex-CEO filed a $10 ... (full story)

    • Exodus
      Exodus's Avatar

      1,097 posts
    • So, despite all the hoo-hah at the time, the wipe-out of Barings Bank by Nick Leeson was peanuts by comparison.

    • Eric D
      Eric D's Avatar

        158 posts
    • If the insiders make this kind of mistakes, imagine an unprepared speculator... I wonder how they have treated Schimmelbusch if he had been right.

    • Guest

      IP XX.XXX.24.5
    • Wonder why the Hunt brothers effort to monopolize silver isn't listed...they fell from 5 billion to 1 billion almost overnight?

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