Joe Bloggs blows fortune spread betting

Joe Bloggs jeans founder Shami Ahmed blows million spread betting and is declared bankrupt.

Someone who had it all, including the Ferraris and the mansion already.

http://www.dailymail.co.uk/news/article-1238737
I suppose some people, even after they make it, have a need to show off to others that they continue to be more and more successful.

Didn't some football manager do a similar thing (but not quite as bad)?

mike ashley

lol,

What was he thinking? How could he let his losses grow so massive when he was only betting for hopeful mergers unless he was trading way too big or never had a stop loss?

You'd think as a "brilliant young entrepreneur" he'd have the knowledge of risk management.

.... start with a big fortune.

This guy, creator of Joe Bloggs jeans, made an business empire worth about 60Mill, then proceeded to blow it all on trading stocks.

http://www.dailymail.co.uk/news/arti...referrer=yahoo

a sobering thought for all of us.

Hope you all had a great Christmas, and are prepping for next Monday.

No sympathy here. I'm sure he's an astute businessman but also, probably, an out and out gambler.

yep the 'billionaire' football club owner Mike Ashley, invested 400mil into Newcastle now worth 120mil, had shares in sports direct worh 500mil now worth 150 mil, bought 150mil of HBOS shares at circa 500p expecting them to reach 750p...rumour has it that he is 'technically' insolvent...

fascinating that spread betting manages to get a bad rap in that article yet the loss to trad index appears negligible and the loss on (what could be) normal broker dealings with HSBC could be £8.3mil...