While waiting for the next SAR opportunity (as this bounce looks weak), here's some good reading about the rogue trader at Société Générale that accumulated losses of more than $7.2bn:
- Bloomberg: "a computer genius"
- FT.com: ShockGen
- Bank Systems and Technology: Blame people or technology?
9 comments:
LOL
is it just me, or calling that trader a "computer genius" just hilarious-sounding?
A weak bounce? Are you kidding me? We've bottomed in the shortest recession ever. New highs please. We're getting positive surprises everyday.
Hey, that guy will probably be able to start his own hedge fund now!
Kinda funny that everybody at Soc Gen were totally clueless to what was going on and they found someone to take the hit...Even back in 1985-89 when I worked for DBL trading, they knew every trade I executed. Of course some were very large trades, but always monitored...Can hardly believe this could go un-noticed, but heck anything is possible.
and exactly why is the the "shortest recession ever?"
Matt
I assume it is 3 days...including Monday!!!
LOL
three whole days of negative economic growth!!!!
can anyone explain this week's cot pleas.
this site is dead. bye bye....
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