Is there any way you can get this kind of info. Also did the clients lost the money(of what they had left)?
>Daal Brokers didn't go under when the bubble burst. They took drastic cost cutting measures like closing offices etc. No customers lost money. What hurt the retail brokers more was the start of internet trading and the liberalization of commissions in 1999. They lost 90% of their individual investors. gaijin
>Whitster That was Barings, an English bank. Had nothing to do with the Japanese bubble. Leeson was buying Nikkei futures when he should have been selling them. gaijin
i am well aware of that. i know the guy who replaced him my point is that he DID go broke, as did his bank AS the japanese bubble was bursting. saw the movie, read the book, etc.
>Whister The bubble broke in 1989. He didn't see it and kept on buying. But it wasn't until after the Kobe earthquake, 6 years after the bubble broke , that he got creamed. So this case does not seem to be related to Daal's question. gaijin
that's a fair point. i remember the scene in the book where he awoke HEAVILY long in futures and options to find the market had crashed due to the earthquake
>Whitster I read the book too, as it was of interest to me in that at that time I was selling what he was buying(on a smaller scale, of course!). So it was really Leeson's inability to read the trend that broke Barings. If he had just had any idea how to read the chart, he wouldn't be flippin' burgers today!!