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  • Trader who lost $456 million says he was basically working in ‘nuclear reactor’

    From marketwatch.com

    Alexis Stenfors worked as a currency trader for Merrill Lynch in London back in 2009, when global markets were still reeling from their worst crisis in almost a century. Stenfors, a trader with 15 years experience, had a hunch that there was more carnage to come and that the financial system was about to implode. He essentially bet his career on it. It turned out to be a huge mistake. Stenfors lost big, covered it up, was caught red-handed, lost his job, earned the dubious distinction of “rogue trader” and was banned from the City for five years. Merrill Lynch BAC, +0.93% would eventually announce that the total ... (full story)

When you think you had a bad day, just remember someones always had it way worse. 15 year trader, with a PhD.

Wowza
Quoting COGSx86
When you think you had a bad day, just remember someones always had it way worse. 15 year trader, with a PhD. Wowza
I am not sure a PhD is an advantage in trading, quite the opposite sometimes...
what is phd?
  •  Guest
  • | IP XXX.XXX.7.184
permanent head damage
Attached Image
Banned from the city? Thats a bit harsh...
man it sounds terrible... Imagine yourself in his shoes, - you did a mistake, lost big... how to recover and move on if you are banned? Thats very hard.
And I was worried when I lost $456 the other day in eurusd lol
Never say never...
Holy shit ! that's like betting that the devil will make hell freeze because he gave u ...
Quoting darko2010
{quote} I am not sure a PhD is an advantage in trading, quite the opposite sometimes...
Agreed!
Quoting darko2010
{quote} I am not sure a PhD is an advantage in trading, quite the opposite sometimes...
he got his PhD after the whole scenario.
  •  Guest
  • | IP XXX.XXX.125.203
Would this loss be profit,so the stake capital is not touched.My son works in this industry,they only trade with smaller amounts off risk.So you do not lose the house,you can have a bad month were no profit is made etc
  • Post #14
  • Quote
  • Edited at 5:46pm May 9, 2017 5:27pm | Edited at 5:46pm
He can place the blame on anything he wants, including environmental factors, the fact remains he is a complete fucking jackass... clearly.

I wonder if he has learnt to hedge since that monumental fail.

And he is now a Senior lecturer, my goodness, somebody help these poor students.

Nobody should pity this guy, that was 100% stupidity.
"Stenfors, after getting bounced from the trading pits, earned his Ph.D. and is now a senior lecturer in economics and finance at Portsmouth University."

Anyone who is paying to be lectured by this guy needs their head read.
His lost was somebody else gain. FX is 0 sum game minus profit for borker.

For last year I thought that I buy sell on forex market,
but actually I bet against my broker clients, nobody else. Today's eureka.
Nobody wrote what he made (profit) for Merrill Lynch in that 15 year only his loses...hmmm
He probably made the right call.....more financial institutions should have been left to fail rather than be bailed out by us the taxpayers.....no gov. bailouts and it would have imploded and should have.
Quoting DrManhatten
{image}
sh!t, 16hrs of that would give me a headache
Quoting lasty
"Stenfors, after getting bounced from the trading pits, earned his Ph.D. and is now a senior lecturer in economics and finance at Portsmouth University." Anyone who is paying to be lectured by this guy needs their head read.
I would very reluctant to take trading advice from someone who has never lost big...at least they know the pit falls and exactly what NOT to do.
Quoting Ill-b-back
{quote} sh!t, 16hrs of that would give me a headache
HA ha ha!
Just git huge funds doent mean a experience trader, he must be gambler
Quoting COGSx86
When you think you had a bad day, just remember someones always had it way worse. 15 year trader, with a PhD. Wowza
You can put 3 PhDs and lipstick on a pig, it's still a pig.

Look at bitcoin

Dumabsses with Nobel prizes bash it, been bashing since bitcoin was $2-3, then go and cry in mommy's basement
Quoting Ill-b-back
{quote} 16hrs of that would give me a headache
That's what your Mom said


✌
Quoting Not-KPMG
{quote} You can put 3 PhDs and lipstick on a pig, it's still a pig. Look at bitcoin Dumabsses with Nobel prizes bash it, been bashing since bitcoin was $2-3, then go and cry in mommy's basement
We must understand that the creation of competition (within the finance/banking industry) from the development of Crypto, will lead to rapid & positive developments on BOTH sides.
Traditional monetary methods & Crypto-payment systems are both valid systems and can live in harmony with each other.

Just wanted to share that. Unblock me I can contribute to your Crypto forum.
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  • | IP X.XXX.174.50
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  • Story Stats
  • Posted: May 9, 2017 8:06am
  • Submitted by:
     Newsstand
    Category: Entertainment News
    Comments: 25  /  Views: 8,925