The Ultimate Revenge Trade: Ex-Goldman Trader 110,000 emini ES position

Quote from marketsurfer:

I didn't read the article-- but yes, if fraud was involved the trader is finished. I am talking about clean losses, not fraudulent ones.

I am not 100% certain but Matador I think was abotu 500 million- which is substantally larger than his first fund. Secondly, As near as I can tell, JM raised about 30 million for his third try--- did he close down?

In addition, lose big once, be given a second chance with even more money than before-- lose big 3 times--- the verdict is still out on that one!

surf
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AFAIK, Matador was never over $200MM AUM. That's still a shitload of short puts!
 
Quote from Syprik:

Got fired, then worked at Morgan Stanley for another 4yrs -> I swear, only does this happen on Wall St.
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and Government.

-burn8
 
There is hope for this young lad, Nick Leeson's site says Leeson is one of the most sought after speakers in the financial sector. His con was for over a billion at Barings. (Didn't Barings end up getting sold for a buck?)

So what, he tried to hide 8billion but GS ended up 'only' losing 100mil plus in the unwind. All's well that ends well...for them. (Shakespeare! It's all about the outcome.)
 
Quote from Syprik:


Got fired, then worked at Morgan Stanley for another 4yrs -> I swear, only does this happen on Wall St.

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imo, this is the craziest part of the story. its mind boggling.

what does that tell you? that all the crap they list in what they are looking for in a potential hire at these "prestigious" firms is just a bunch of crap.

job seeker: hello, im here for the trading position

interviewer: oh, tell me about yourself

job seeker: well, i was fired from gs for outright fraud.

interviewer: welcome aboard.

meanwhile, the hundreds of applicants that did everything right were thrown in the garbage. :confused:
 
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