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Attachments: Rogue Trader strike again, and Fed caught flat footed
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Rogue Trader strike again, and Fed caught flat footed

  • Post #1
  • Quote
  • First Post: Jan 24, 2008 10:47pm Jan 24, 2008 10:47pm
  •  greentunnel
  • | Joined Dec 2007 | Status: Member | 17 Posts
http://www.bloomberg.com/apps/news?p...6sY&refer=home

The Fed must be really embarrassed for bailing out the market on Tuesday. Its not the bail out that's bad, its the timing of the bail out. LMAO.
  • Post #2
  • Quote
  • Jan 24, 2008 11:19pm Jan 24, 2008 11:19pm
  •  acumen
  • Joined Mar 2007 | Status: Member | 3,709 Posts
He has access to 7 billion in capital and they're paying him 100k Euros.

That's absurd.

He probably lost the money on purpose.

"My raise is what?", "listen Mr. Manager I'll need 3% of what I made on this account or I'll make that Sub-Prime write down look like day at beach."
  • Post #3
  • Quote
  • Jan 25, 2008 12:42am Jan 25, 2008 12:42am
  •  greentunnel
  • | Joined Dec 2007 | Status: Member | 17 Posts
Yeah noticed that too

I dont know how they do these things. Dont they have like a unit supervisor that monitor all these small time traders?
  • Post #4
  • Quote
  • Jan 25, 2008 9:29am Jan 25, 2008 9:29am
  •  PiP [email protected]
  • | Joined Jan 2008 | Status: Member | 75 Posts
I see a movie pending, starring Ewan McGregor...
Just trying to make some dollars and sense...:money: :thinking:
  • Post #5
  • Quote
  • Jan 25, 2008 9:32am Jan 25, 2008 9:32am
  •  lockstock
  • | Joined Jan 2006 | Status: Member | 6 Posts
He should have used a stop loss.
  • Post #6
  • Quote
  • Jan 25, 2008 9:43am Jan 25, 2008 9:43am
  •  Brunite
  • | Joined Dec 2006 | Status: Who be flying?....Pigs be flying! | 295 Posts
.....guess he should've been using one of the many systems available here at FF!
  • Post #7
  • Quote
  • Jan 25, 2008 10:14am Jan 25, 2008 10:14am
  •  melpheos
  • Joined Jan 2007 | Status: Stochastic pipster | 1,657 Posts
Quoting lockstock
Disliked
He should have used a stop loss.
Ignored
In fact it's not a question of stop loss.

He had 40-50 billion € position and had "only" 1 billion € loss on satursday this is only 2% overall loss...

The problem is that SocGen decided to close all the positions on monday and the next 2 days and doing that pushed the loss to 5 billion € as the market dipped a lot on monday in particular.

Picture

He seems to be a nice guy...
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  • Post #8
  • Quote
  • Jan 25, 2008 7:25pm Jan 25, 2008 7:25pm
  •  WTB
  • | Commercial Member | Joined Sep 2005 | 1,118 Posts
Actually, he DOES look like Ewan McGregor
  • Post #9
  • Quote
  • Jan 25, 2008 7:34pm Jan 25, 2008 7:34pm
  •  Mr. Roboto
  • | Joined Mar 2007 | Status: Member | 76 Posts
He should've spent some time reading the money management articles in these forums
Domo Arigato, Mr. Roboto!
  • Post #10
  • Quote
  • Jan 25, 2008 8:35pm Jan 25, 2008 8:35pm
  •  piphitman
  • | Joined Oct 2007 | Status: Member | 439 Posts
Quoting WTB
Disliked
Actually, he DOES look like Ewan McGregor
Ignored
Nope, appropriately..........he actually looks like Bud Fox.

"Money never sleeps Pal"
trading naked.......
  • Post #11
  • Quote
  • Jan 25, 2008 9:47pm Jan 25, 2008 9:47pm
  •  PiP [email protected]
  • | Joined Jan 2008 | Status: Member | 75 Posts
Quoting piphitman
Disliked
..........he actually looks like Bud Fox.
Ignored
I see a movie pending, starring Charlie Sheen...
Attached Image
Just trying to make some dollars and sense...:money: :thinking:
  • Post #12
  • Quote
  • Last Post: Jan 26, 2008 2:04am Jan 26, 2008 2:04am
  •  Brunite
  • | Joined Dec 2006 | Status: Who be flying?....Pigs be flying! | 295 Posts
Quoting PiP [email protected]
Disliked
I see a movie pending, starring Charlie Sheen...
Ignored
Like old Yogi likes to say......"Deja Vu all over again"
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