How Can You Lose $7 Billion In 8 Trading Days?
Wed, Feb 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.
February 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.
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February 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.
February 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?
February 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?
February 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
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February 7th, 2008 at 2:19 pm
Is not wasn’t even his money! It was the company’s money.