Word: trader
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...have a system that's 'Heads, I win a million dfollars, tails the firm loses a million dollars.' There is a strong, rational reason for as trader to take excessive risks...
Prof. John C. Coffee Jr. of the Columbia Business School, quoted in the New York Times (Mar. 5, 1995). Coffee was referring to the case of Nicholas W. Leeson, the 'rogue trader' who caused the bankruptcy of Barings P.L.C...
Cramer is a hedge-fund manager who for years has written a no-holds-barred financial column for a succession of magazines, most recently the two-year-old SmartMoney. The purpose of the column has always been to tap Cramer's knowledge as a stock trader for the benefit of his readers. Always, he gives concrete examples culled from his own portfolio to buttress his points; always, that fact is disclosed...
...accusation that he was in effect buying in advance of the news he himself was about to create. Cramer concedes that he bought stock during that time period; a large block became available, and he felt he had no choice but to purchase it. He is, after all, a trader first, with a responsibility to his clients. He also disclosed in the column that he held the stocks and even cautioned readers against buying them if they started to shoot...
Singapore authorities are on their way to Germany with an arrest warrant to seek extradition of the young stock trader whose extravagant gamble on the Tokyo market brought down Britain's oldest investment bank. Nicholas Leeson, a Briton who worked in Singapore, fled that country when his bet caused some $1 billion in losses for Baring Brothers & Co., after a drop in the Tokyo market last week. Police pulled him off a plane in Frankfurt last night and are detaining him. An extradition hearing before a judge is expected to take place tomorrow. TIME Bonn bureau chief Bruce Van Voorst...