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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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
Worst trading losses in the world
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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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