How Can You Lose $7 Billion In 8 Work Days?

How Can You Lose $7 Billion In 8 Trading Days?

By Nhuong Son • February 6, 2008

Don’t ask me. Ask this dude.

Jerome Kerviel, the disgraced former Societe Generale trader, actually achieved something quite remarkable: “It’s bloody difficult to lose that much money, that fast,” said Nick Saunders, who heads institutional operations at London-based IG Markets. Kerviel reportedly lost his bank $7.2 billion in just eight trading days. It’s more than any other rogue trader has ever lost in history.

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Categories: Technology
Tags: 7 billion, 8 days, lose

About the Author

Nhuong Son

My name is Nhuong Son, a senior at Drew University, a small liberal arts college in New Jersey. I am majoring in Economics and Chinese Studies. I attended The Westtown School for high school and Mullica Hill Friends School for middle school, both of which are Quaker affiliated. I am 22, Cambodian American. I came to the States when I was only 6 years old as a refugee. My family and I lived in a couple of refugee camps on the Thai/ Cambodian border for over a year before being accepted into the United States. Currently I reside in Camden, NJ, which unfortunately is one of the most dangerous cities in America.

7 Responses to “ How Can You Lose $7 Billion In 8 Trading Days? ”

Selene Feb 6th, 2008 at 9:16 pm

It’s unbelievable he lost that much money that fast. I believe he might have lost the money on purpose. You can’t lose that much money without trying to.

Selene’s last blog post..Methods For Figuring Out If a Guy Is Romantically Interested
Nhuong Son Feb 7th, 2008 at 12:08 am

That’s a lot of money to lose on purpose. I think he did it on purpose too, but did he actually think he was going to get away with it? He is just dumb.
Mathias Feb 7th, 2008 at 12:06 pm

I hope we can see an interview with this guy some time. I would love to hear his explanation, and if there was a motive for his actions. Or is he just the most unlucky trader in history?
John Smith Feb 7th, 2008 at 1:08 pm

I thought a president of some country lost couple of thousand billions in a bit longer period, but if counted by day, it could be couple of billions a day?
Jay Feb 7th, 2008 at 2:14 pm

That just hurts… man, if I had that money I wouldn’t even attempt to do anything but slowly spend it through my LIFETIME!

Jay
DatMoney.com
DatCurious.com

Jay’s last blog post..1st DM Contest: Cash, EC and Custom Banner Designs!
Nhuong Son Feb 7th, 2008 at 2:19 pm

Is not wasn’t even his money! It was the company’s money.
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