Let's discuss some of the worst trades ever made. Ideally this would be a gigantic loser that the trader/investor either sat on, or kept adding to, despite the market obviously being in a huge trend against them, and the value being non-existent. I would like to nominate Asian Central Banks, for continuing to buy US treasuries yielding 3-5% per annum during a secular uptrend in inflation, and a collapsing dollar. These morons must have lost *trillions* purely on the dollar devaluation alone in the last 5 years or so. Instead, they could have made a risk-free investment with a much higher return simply by paying down their own government's debt. Just imagine the per capita cost of this gigantic trading blunder - probably several years' worth of income per citizen. A classic central bank "anti-trade". The funniest thing is that they didn't even buy TIPS - they went mostly for nominal treasuries. This really is one of the biggest financial blunders of all time.