What happened after Barings went broke?

He was long & wrong the Nikkei AND also had a huge short position in Japanese bonds and euro-yen(?) that also blew up in his face at the same time. If the trade had gone his way, he'd have become a hero before eventually blowing out.
 
In bankruptcy the debt assumed by ING was probably pennies on the dollar for all of Barings business. They were pretty big in Asia and England at the time and ING got all of that for about $1 and minor debt.

Quote from GlobalFinancier:

Yeah but Leeson supposedly lost $1.3 billlion, more than the total assets of Baring.
More...
 
You could ask Nick himself, he posts on the Forum here under the username: NickBarings

He seems quite friendly. I wrote and asked him and he says that he's the real Nick.
 
Quote from nazzdack:

He was long & wrong the Nikkei AND also had a huge short position in Japanese bonds and euro-yen(?) that also blew up in his face at the same time. If the trade had gone his way, he'd have become a hero before eventually blowing out.
More...

Yeah. Take a look at the chart too, you'll see that the Nikkei gained to 20000 after March 1995, when he supposedly went broke.(19000 was his breakeven I think.)
 
You must log in or register to reply here.
Back
Top