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How to Loose a Billion ( excellent article )

  • #21
  • Nov 30, 2007 6:48am Nov 30, 2007 6:48am
Somehow, you can't help but feel sorry for these rogue traders - their desperation, loneliness and frustration, knowing that they're knee-dug into a lose/lose situation.

Fantastic read, thanks for posting.
  • #22
  • Jan 2, 2008 9:11pm Jan 2, 2008 9:11pm
its self destructive nature of human being that get loosened in the process of losing , u can identify these people by the way they converse , they bend truths to a certain degree , they tend to make thing complex so no1 could possibly understand the simple truth ... saving themselves from reality ...
To Live is the rarest thing in the world , Most people exist , that is all
  • #23
  • Jan 24, 2008 8:17am Jan 24, 2008 8:17am
Well well well, History repeats itself! Now with Societé Générale and the record of loosing 5 Billion EURO !!!!
  • #24
  • Last Post: Jan 24, 2008 8:38am Jan 24, 2008 8:38am
Quoting zamiriqbal
What i dont get is that why these traders , who have years of expereince makes these sort of trading.Why they tend to get emotional or let their ego comes in between.

We, newbies are told that never get emotional in trading, cut your losses e.t.c ... , but these rogue trader are professional, they have years of experience....

were they luck in trading for so many years before they became rogue traders .....

regds

zamir
the problem is in misjudging the market situation and lack of management control, Leeson initially lost ~~ 70 millions and then he wanted to pull money back increasing size of orders, than earthquake in Japan came....
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