Adoboli’s Fate Decided at Wine Bar as UBS Market Bets Unravelled

Discussion in 'Wall St. News' started by LondonUSTrader, Nov 21, 2012.

  1. DB9


    he (Adoboli) and Hughes, then in their mid-20s, with 30 months of trading experience between them, were running a $50 billion trading book at the ETF desk. .... Wow lol...
  2. That is almost certainly a typo
    Should be $50 MILLION

    This particular goofball (both are goofballs) had no concept of risk his personal spreadbetting a/c in which he lost nearly $200,000 indicates

    Basically instead of taking a small loss, he went full tilt/revenge trading to try to make back the loss

  3. No typo. He lost $2B on a $50MM book? lol.
  4. Adoboli is an inspration to all traders of African descent.
  5. By the sounds of things, the UBS London risk management systems were appalling. I've traded at small private prop firms with better controls than what this.

    Also, this kid was trading for just 30 months and was given this size to handle?