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Wednesday, March 21, 2007

Nick Leeson is Back...With His Jacket

Still remember Nick Leeson, the rogue trader who single-handedly brought down Barings Bank with losses amounting to £1.4 billion? Well, he or rather his trading jacket is back in the limelight. His trading jacket reportedly fetched "five-figure" bids and counting, in an auction that started on Sunday.

Leeson, who is now free to trade on his own account has said he may return to full-time trading in Ireland. He told Bloomberg earlier this year: "You wouldn't believe how many people have asked me to manage their money." lol! Unbelievable, really.

Publicity aside, I have to say that I somewhat admire his courage to live on despite going to jail, divorced from his wife, deep in debt and battling cancer. Perhaps all these are his retribution for bad karma, but he pulled through and is now leading a new life.


Anonymous Squid said...

I thought Nick was banned from the securities industry for life. Even harder to believe is that people would want him to manage their money.

4:42 PM  
Blogger Simply Options Trader said...

Hi Squid,
He is probably banned from managing money for others but can still trade for his own account. Yes, its really surprising that there are companies out there who want him to manage their funds, but I guess its just like the computer hackers - they are so good and know the system inside out that after they are release from jail, IT companies want to take them in.

5:50 PM  

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