Rumor: Bright Trader blows up and loses millions

on the flip side...the best arm ever known to football didn't get a ring.... Moral of the story....swing big and hard....peace

 

for schadenfraude:

http://www.youtube.com/watch?v=ELUmORPMVyU

 

Was that Brandon?

 

Every case is different.....and the "impact" if any was so minimal that, as I stated before, our changes will help traders going forward. Compared to the banks and brokers, I would say a 1 or 2% "hit" every couple of decades would show pretty good risk control.

But, yes, we have tightened things in that aspect of the industry and within Bright.


All the best,

Don

 

True but

There is a difference in going all in with 10k versus millions!

 

Im actually impressed Bright let him have that much leverage. I might open an account.

 

FWIW, Brandon was/is working for himself, within our organization.

Don't make too much out of this guys. A guy who makes a few million, may lose it back...it happens...a bummer, but it happens.


Don

 

Now that I think about the Prop format, you are really not responsible to protect the trader from themselves. I worked for a financial Inst, I was playing with their money so they did not want me to blow up the shop.


Keep up the good work....always enjoy reading your posts.

 

Definitely - so you mean money management, not fat tail management?

 

same thing... Managing unexpected events is part of money management