jon1971
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A hilarious look at the Barings debarcle, worth a giggle.
DHB
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Ah, that documentary brought back memories. I wrote a small essay about the demise of Barings some ten years ago, during my first year at university. It's mind boggling how much went wrong there in terms of missing checks and balances, and how long Leeson was able to continue hiding his losses. Not to mention what a lousy trader he was. 
He obviously never heard of letting profits run and cutting losses short. The least he could have done as a wannabee trader, was reading market wizards and/or reminiscences of a stock operator... :whistling
He obviously never heard of letting profits run and cutting losses short. The least he could have done as a wannabee trader, was reading market wizards and/or reminiscences of a stock operator... :whistling
jon1971
Well-known member
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Ah, that documentary brought back memories. I wrote a small essay about the demise of Barings some ten years ago, during my first year at university. It's mind boggling how much went wrong there in terms of missing checks and balances, and how long Leeson was able to continue hiding his losses. Not to mention what a lousy trader he was.
He obviously never heard of letting profits run and cutting losses short. The least he could have done as a wannabee trader, was reading market wizards and/or reminiscences of a stock operator... :whistling
Yeah I know it's insane, maybe they should have let the wallabies manage their SIMEX operation. LOL
