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Podcast: The AlphaMind Podcast
Episode: #34 Nick Leeson - Rogue Trader: In His Own Words
Description: 25 years ago this week, Barings Bank, founded in 1763, was brought down by the calamitous and illegal trading activities of one of its futures traders, Nick Leeson. Working from their Singapore office, Lesson’s accumulated trading losses amounted to over £800 billion or close to $1.4 billion at the time. Leeson had been hiding trading losses for the previous 2 1/2 years in a false account he had created, the now infamous 88888 account. For a while these losses were of a size that was concealable, however in January 1995, the losses started to spiral out of control. Leeson had been placing a series of h...