Prop Trader Loses $100M?
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linear-regressor13 • 261d ago Industry News
Hey all, there's been a rumour going around in AUS that there was a quantitative trader at a top trading firm (new grad) that lost something like $100,000,000 in just a few minutes. He was apparently fired immediately. I don't have any more details, but I was wondering if anyone has heard about this rumour? Is there any validity to this rumour, if anyone has any connections to this supposed incident? If this is true, why hasn't any news sources picked this up - perhaps the firm hid this so investors wouldn't lose confidence?
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JasonT • 261d ago
I have heard a similar rumour, from a quant source. I think it was around $30,000,000 though. Still a crazy amount. I have further details, like the firm and date etc, but I'd imagine I can't discuss such a topic on a public forum. But trust me, it's amazing how well these trading firms sweep controversies under the rug.
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miguelmason • 249d ago
How can you possibly hide a 30 million dollar loss??? Surely there's some community body overseeing this??
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VegeCropping • 261d ago
Yes, I was the trader
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miguelmason • 249d ago
No, it was me