/biz/ - Business & Finance

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Anonymous Sat Oct 26 08:30:49 2019 No.16038447 [Reply] [Original]

Who are some big examples of financial catastrophe that made it big using skill but then lost it all?

>>	Anonymous Sat Oct 26 08:35:23 2019 No.16038473 >>16038447 I think there was some Swedish or Norwegian trader who became a billionaire, but then lost it all on a trade since he was overleveraged and there was a sudden and big change of price

>>	Anonymous Sat Oct 26 08:36:27 2019 No.16038480 >>16038473 Adolf Merckle (google him)

>>	Anonymous Sat Oct 26 08:50:25 2019 No.16038574 File: 243 KB, 980x590, einaraas.jpg [View same] [iqdb] [saucenao] [google] >>16038480 Damn that guy, but what I was thinking about is pic related. Not a billionaire, but lost 114 million.

>>	Anonymous Sat Oct 26 08:51:26 2019 No.16038581 >>16038480 Hitter and Angela come to mind

Anonymous Sat Oct 26 08:58:25 2019 No.16038627

>>16038447
Last year James Cordier, hedge fund manager at optionsellersdot com, managed to lose every penny of his clients' investments during a natural gas price fluctuation--totalling $150mm. To add even more cringe he had written books on selling naked options successfully and this was the strategy that ultimately brought him down.
Here is his apology video(for the feels)
https://youtu.be/VNYNMM0hXXY

>>	Anonymous Sat Oct 26 09:00:56 2019 No.16038647 >>16038480 damn i was hoping for some sort of redemption story but no he threw himself infront of a train

Anonymous Sat Oct 26 09:04:40 2019 No.16038680

>>16038447
Kweku Adoboli: Rogue Trader scandal
Nick Leeson
Archie Karas: famous for the largest and longest documented winning streak in casino gambling history, simply known as The Run, when he drove to Las Vegas with $50 in December 1992 and then turned a $10,000 loan into more than $40 million by the beginning of 1995, only to lose it all later that year

>>	Anonymous Sat Oct 26 09:11:41 2019 No.16038722 >>16038647 It was family issues. Even after the event he was still in top 100 richest in Germany

>>	Anonymous Sat Oct 26 09:20:02 2019 No.16038779 >>16038680 Why was it a scandal?

>>	Anonymous Sat Oct 26 11:19:36 2019 No.16039844 File: 158 KB, 1029x936, 1548928677923.jpg [View same] [iqdb] [saucenao] [google]

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