Wednesday, September 20, 2006

Now this is a margin call...

So you think you've had a bad day trading the board. You don't know what bad is:
A Calgary trader who lost $5 billion US in a week was dealing with the fallout of the huge loss yesterday, as the hedge fund he works for stripped him of his duties as head of the energy trading desk. [More]
I'm still trying to get mind around the idea of a 32 year-old guy with control of that kind of loot. What the heck did they think would happen? He's a Canadian, fer cryin' out loud! They have denomination of currency called a loonie! That should have been a hint.

Still, whaddaya wanna bet he's back in the saddle soon, a la Michael Milkin?

No comments: