gotta love these terrorisits. I dont think his mother would give him money these days. time for him do some terrorism of his own, go ahead and lever up brian!
"I'll never understand people that say trading for yourself is better than managing OPM.. you cant go broke managing OPM. Sounds like a risk free opportunity to me, only hard part is raising money. You lose your investors money... oh well shit happens. (As I drive home in my ferrari)" ............. "His bonus resulting from that deal: $75 million to $100 million." Makes sense since he could seed it himself with his bonus money if he wanted to...
Should people who lose billions of other peoples money be allowed back into the game? Someone who has no knowledge of risk(or blatant disregard) should not be allowed to trade OPM by law. Can Nick Leeson trade opm? I suppose I should open a hedge fund and swing for the fences...What do I have to lose?
Aah, good, I was hoping someone -- I assume you've met or seen the guy? -- would comment on that, one way or the other. To be fair, they did leave the door slightly open by calling that (fun) pic "brianhuntermaybe.jpg".
Yes, I've met him at an event. Didn't remember the occasion until after the brouhaha. I believe dealmaker simply google-imaged Brian Hunter + Canada.
EXACTLY. Hunter lacks DISCIPLINE...and obviously was very successful initially partially due to LUCK. He got into a LARGE losing position and didn't and wouldn't bail-out. NOW he'll really need LUCK to make it as a trader in a new fund.
You're entitled to your opinion, here's mine: We have enough laws. If you're willing to give up control of your own money to let someone else manage it, then you can expect to do well based on historical performance. You can also expect to take on more risk than putting it in a savings account. How much reward you want is proportional to how much risk you take. You can't expect to receive this guy's oversized returns without risk. Too many more laws, and there will be only unlawful games to be played. Caveat emptor. Don't put laws against me because you decided to let someone manage your money without doing your homework. Do I feel sorry for the people who had their money in there? Yes. Did they have enough disclosure? I don't know. They definitely allowed this guy to bend the rules. There will always be gamblers willing to give this guy money. They are the all-or-nothing types. I say, let them play. If they want to give their money casino-style, let them. I manage most of my own money because I believe I can do a better job than someone else. Money is a huge temptation, and I prefer to fight my SIPC insured broker over taking my money than a hedge fund who simply implodes and isn't there to fight. Yes, I know one could argue that we still fight hedge funds on the floor. I'd say there is a bit more disclosure there than behind the doors of the hedge funds. Even with their dirty floor tricks. I respect your insightful post. Please don't take this as a flame, take it as another's opinion.
Isn't Nick in the can? How come this guy is not in the can? Merriman LTCM is he in the can? How come Nick is the only one in the can?
nick leeson i believe went to jail not because of his losses but because he lied about them and tried to cover them up. as far as i know hunter didn't, that being said to lose almost $6billion of a $9b account you have to be a bit of an arrogant shithead.