What’s it like to lose £350m? A rogue trader confesses

Free government is founded in jealousy, not confidence…. In questions of power, then, let no more be heard of confidence in men, but bind him down from mischief by the chains of the Constitution.

— Thomas Jefferson (1799)

What’s it like to lose £350m? A rogue trader confesses

Dienstag - 09.05.2017

By investing in precarious deals and covering up his losses, Alexis Stenfors cost one of the world’s biggest banks a fortune. Andrew Anthony asks why doesn’t he feel more remorse

Andrew Anthony Sunday 7 May 2017

In 2009, shortly after the global markets had suffered their worst crisis for 90 years, Alexis Stenfors was working as a currency trader for Merrill Lynch in London. With 15 years’ experience, he was good at his job and he prided himself on his ability to read the markets. His view was that the whole financial system was going to go “belly up”. That was what he was betting on.

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https://www.theguardian.com/business/2017/may/07/whats-it-like-to-lose-350m-pounds-rogue-trader-barometer-of-fear?cmpid=BBD050817_MKT&utm_medium=email&utm_source=newsletter&utm_term=170508&utm_campaign=markets

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