Trader '50 Cent' lost $197 million betting on market meltdown

Discussion in 'Wall St. News' started by ajacobson, Dec 13, 2017.

  1. ajacobson


  2. Summer 2017: ironic screen name.

    Winter 2017: account balance.
    Here4money, d08 and Clubber Lang like this.
  3. Last edited: Dec 13, 2017
    dealmaker likes this.
  4. Here a vivid example that the stock market can go crazy to this the calmest man, you have to give your time for everything, not everything is the stock market. You have to have time for yourself and enjoy life. I would like you to continue sharing in this thread, the development of this news.
  5. If he calls himself a trader, why didn't he cut his losses?
  6. Pekelo


    What a clickbait title...

    It wasn't a bet but insurance buying even according to the article. So what, if they are up 10-15% on a 10 billion portfolio paying out 200 mill for insurance is called prudent investment.
    sle, helpme_please and learner88 like this.
  7. maxinger


    he is either a newbie,
    or kamikaze trader,
    or professional trader with out of control mind.
  8. That answers the puzzle why he didn't cut loss. It wasn't a trade. It was an insurance policy. No wonder he didn't cut loss. Thanks.
  9. maxinger


    It seems like he doess not know how to read chart and how to analyse trend.
    Or perhaps he analyse it in rather different way.

    VIX has been at the support level, and has not been moving for months/years.
    He was hoping / anticipating it would spike up.

    It reminds me of this trader Nick Leeson
  10. the article also said "So with all of that established, who exactly is 50 Cent? The mystery behind the trader's identity raged for months before the Financial Times blew the lid off the case back in May, citing four people from trading departments at banks who were familiar with the trades. They found that the volatility bull was none other than Ruffer LLP, a fund whose client roster includes the Church of England".
    it seems he's a veteran! managing $15 B portfolio.

    Jonathan Ruffer
    #10     Dec 13, 2017