What happened after Barings went broke?

Discussion in 'Trading' started by GlobalFinancier, Jun 17, 2006.

  1. well ing paid just 1quid for the ashes of barings, quite a bargain even considerin' debts and liabilities, dont ya think?
  2. Yeah but Leeson supposedly lost $1.3 billlion, more than the total assets of Baring.
  3. He was long & wrong the Nikkei AND also had a huge short position in Japanese bonds and euro-yen(?) that also blew up in his face at the same time. If the trade had gone his way, he'd have become a hero before eventually blowing out.
  4. In bankruptcy the debt assumed by ING was probably pennies on the dollar for all of Barings business. They were pretty big in Asia and England at the time and ING got all of that for about $1 and minor debt.

  5. did i read somewhere that nick is coaching soccer now?? perhaps, traders monthly??

  6. mauzj


    I read somewhere that he'd moved into risk management.
  7. You could ask Nick himself, he posts on the Forum here under the username: NickBarings

    He seems quite friendly. I wrote and asked him and he says that he's the real Nick.
  8. Yeah. Take a look at the chart too, you'll see that the Nikkei gained to 20000 after March 1995, when he supposedly went broke.(19000 was his breakeven I think.)
  9. #10     Jun 18, 2006