WSJ: Deutsche Bank Fallen Trader Left -$1.8 Billion Hole

General discussions about futures.
Post Reply
stamo
Roundtable Knight
Roundtable Knight
Posts: 522
Joined: Tue Mar 13, 2007 5:27 pm

WSJ: Deutsche Bank Fallen Trader Left -$1.8 Billion Hole

Post by stamo »

Today's WSJ:

"The fall of Boaz Weinstein, once one of Wall Street's hottest traders, speaks volumes about why financial firms still are reeling from the shattered global markets. As a chess master, poker and blackjack devotee and top trader at Deutsche Bank AG, Mr. Weinstein made big bets using complex financial instruments, generating large returns for the bank and about $40 million in annual pay for himself. But in 2008 the group he ran saddled the bank with $1.8 billion in losses, erasing more than two years of trading gains."


LINK: http://online.wsj.com/article/SB123387976335254731.html
Post Reply