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Worst trading losses in the world

Last updated on: June 28, 2012 12:58 IST

Worst trading losses in the world

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Losses and gains are an everyday business in the stock markets, but sometimes the losses are simply staggering.

Here we take a look at some of the biggest trading losses of all time.

Source: Business Insider

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Image: A trader on the floor of the New York Stock Exchange.
Photographs: Brendan McDermid/Reuters
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Firm: Morgan Stanley

Location: US

Year: 2007

Amount lost: $9 billion

Source of the loss(es): Credit default swaps

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Image: Morgan Stanley's New York headquarters are seen at the corner of 48th Street and Broadway in New York.
Photographs: Andrew Burton/Reuters

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Firm: Societe Generale

Location: France

Year: 2008

Amount lost: $7.2 billion

The source of the loss(es): Equity derivatives

Person(s) associated with loss: Jerome Kerviel

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Image: Former trader Kerviel arrives at Paris court for the start of his trial to face charges of breach of trust, computer abuse and forgery.
Photographs: Jacky Naegelen/Reuters

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Firm: Amaranth Advisors

Location: US

Year: 2006

Nominal amount lost: $6.6 billion

The source of the loss(es): Natural gas futures

Person(s) associated with loss: Brian Hunter

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Image: A trader reacts on the floor of the New York Stock Exchange.
Photographs: Brendan McDermid/Reuters

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Firm: Long-Term Capital Management

Location: Greenwich, Connecticut, US.

Year: 1998

Amount lost: $4.6 billion

Source of the loss(es): Interest rate and equity derivatives

Person(s) associated with loss: John Meriwether

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Image: Traders work at their desks in front of the DAX board at the end of the session at Frankfurt stock exchange.
Photographs: Pawel Kopczynski/Reuters

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Firm: Sumitomo Corporation

Year: 1996

Amount lost: $2.6 billion

The source of the loss(es): Copper futures

Person(s) associated with loss: Yasuo Hamanaka

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Image: A bank clerk counts US dollar banknotes on bundles of 100 Chinese yuan banknotes at a branch of a bank in Huaibei, China.
Photographs: Stringer/Reuters

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Firm: Aracruz

Year: 2008

Location: Brazil

Amount lost: $2.5 billion

The source of the loss(es): Forex options

Person(s) associated with loss: Isac Zagury

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Image: A woman counts her US dollar bills at a money changer in Jakarta, Indonesia.
Photographs: Beawiharta Beawiharta/Reuters

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Firm: UBS

Year: 2011

Location: United Kingdom

Amount lost: $2.3 billion

The source of the loss(es): ETFs/ Delta One

Person(s) associated with loss: Kweku Adoboli

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Image: Former UBS trader Kweku Adoboli in south London.
Photographs: Ki Price/Reuters

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Firm: JPMorgan

Location: United Kingdom

Year: 2012

Amount lost: $2 billion

The source of the loss(es): Credit default swaps

Person(s) associated with loss: Bruno Iksil

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Image: People walk next to JPMorgan Chase and Company headquarters in New York.
Photographs: Eduardo Munoz/Reuters

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Victim: Orange County, California, US

Year: 1994

Location: Orange County, California, US

Amount lost: $1.7 billion

The source of the loss(es): Leveraged bond investments

Person(s) associated with loss: Robert Citron

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Image: Flag flies at exterior of New York Stock Exchange.
Photographs: Eric Thayer/Reuters

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Firm: Metallgesellschaft

Year: 1993

Location: Germany

Amount lost: $1.3 billion

Source of the loss(es): Oil futures

Person(s) associated with loss: Heinz Schimmelbusch


Image: A car drives past a BP petrol station in Moscow.
Photographs: Denis Sinyakov/Reuters

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