Here I share with you three shocking stories of traders who lost large amounts of money in the world of trading:

1. Jérôme Kerviel – Loss of $6.9 billion (SocGen)

Jérôme Kerviel is one of the most infamous traders in history. Working for Société Générale (SocGen), Kerviel made unauthorized trades in the futures market, building up positions that eventually collapsed. Between 2007 and 2008, his losses amounted to $6.9 billion, leading to a major financial scandal. Although the firm found him guilty, Kerviel always claimed that his superiors knew about his trades.

2. Nick Leeson – $1.4 billion loss (Barings Bank)

Nick Leeson was a British trader who led to the collapse of the prestigious Barings Bank, one of the oldest banks in the United Kingdom. Leeson was head of operations in Singapore and accumulated huge losses by hiding them in unauthorized accounts. In 1995, his risky bets on Nikkei futures resulted in a loss of $1.4 billion, leading to the collapse of the bank. Leeson was sentenced to prison and wrote a book about his experience.

3. Liu Qibing – $100 million loss (Copper Markets)

Liu Qibing was a Chinese trader working for the government in copper futures markets. In 2005, he built up large short positions in copper, betting that prices would fall. However, copper prices unexpectedly rose, and Liu faced losses estimated at more than $100 million. This loss shook global metals markets and sparked controversy over the lack of regulation in commodities markets.

These stories serve as a reminder of the huge risks involved in trading, where one bad bet can have catastrophic consequences.

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