財經觀察之 1190 --- List of trading losses

The following contains a list of trading losses which eventually forced major corporations to go bankrupt or restructure parts of their organisation^{[citation needed]}. This list is not exhaustive. Due to the secretive nature of many hedge funds and fund managers, some notable losses may never be reported to the public. The list is ordered by the amount lost, starting with the greatest.

Name	Amount Lost	Citizenship	Employer	Source of Loss	Year
Kerviel, JérômeJérôme Kerviel[1]	US$7.1 billion	France	Société Générale	European Index futures	2008
Hunter, BrianBrian Hunter[2]	US$6.5 billion	Canada	Amaranth Advisors	Gas futures	2006
Paretti, GiancarloGiancarlo Paretti[3]	US$5.0 billion	Italy	Crédit Lyonnais	Loans to Hollywood Studios	1990
Meriwether, JohnJohn Meriwether[4]	US$4.6 billion	United States	Long Term Capital Management	Interest Rate and Equity Derivatives	1998
Hamanaka, YasuoYasuo Hamanaka	US$2.6 billion	Japan	Sumitomo Corporation	Copper futures	1996
Flöttl, WolfgangWolfgang Flöttl, Helmut Elsner	US$2.5 billion	Austria	BAWAG	Currency- and interest swaps	2006
Citron, RobertRobert Citron	US$1.7 billion	United States	Orange County	Interest Rate Derivatives	1994
Schimmelbusch, HeinzHeinz Schimmelbusch	US$1.6 billion	Germany	Metallgesellschaft	Oil Futures	1993
Leeson, NickNick Leeson	US$1.4 billion	United Kingdom	Barings Bank	Nikkei Futures	1995
Iguchi, ToshihideToshihide Iguchi[5]	US$1.1 billion	Japan	Daiwa Bank	Bonds	1995
Lee, DavidDavid Lee	US$0.8 billion	United States	Bank of Montreal	Natural Gas Options	2007
Breuers, FriedhelmFriedhelm Breuers	US$0.8 billion	Germany	WestLB	Common and Preferred Shares	2007
Rusnak, JohnJohn Rusnak	US$0.7 billion	United States	Allied Irish Bank	Currency	2002
Young, PeterPeter Young	US$0.7 billion	United Kingdom	Morgan Grenfell	Shares	1997
Jiulin, ChenChen Jiulin	US$0.6 billion	China	China Aviation Oil	Oil Futures and Options	2004
Goldstein, RamyRamy Goldstein	US$0.5 billion		United Bank of Switzerland	Global Derivatives	1998
Jett, JosephJoseph Jett[6]	US$0.4 billion	United States	Kidder Peabody	Government Bonds	1994
Askin, DavidDavid Askin	US$0.4 billion	United States	Askin Capital Management	Mortgage-Backed Securities	1994
Berger, MichaelMichael Berger[7]	US$0.4 billion	United States	Manhattan Investment Fund	Short IT stocks during the internet bubble	2000
Kulterer, WolfgangWolfgang Kulterer[8]	US$0.4 billion	Austria	Hypo Group Alpe Adria	Currency Trading	2004
(not disclosed)	US$0.4 billion		Dexia Bank	Corporate Bonds	2001
Bierbaum, Richard "Chip" Richard "Chip" Bierbaum[9]	US$0.35 billion	United States	Calyon	Credit Indices	2007
Duffy, LukeLuke Duffy[10]	US$0.3 billion	Australia	National Australia Bank	Currency	2004
Qibing, LiuLiu Qibing[11]	US$0.2 billion	China	State Reserves Bureau	Copper Futures	2005
Rubin, Howard A.Howard A. Rubin[12]	US$0.25 billion	United States	Merrill Lynch	Mortgages (IOs and POs) Trading	1987
Mains, RaymondRaymond Mains[13]	US$0.2 billion	United States	Procter & Gamble	Interest Rate Derivatives	1994
Papouis, KyriacosKyriacos Papouis[14]	US$0.2 billion	United Kingdom	NatWest	Interest Rate Options	1997
Nodilo, EduardEduard Nodilo[15]	US$0.1 billion	Croatia	Riječka banka (Rijeka Bank)	Foreign Exchange Trading	2002

References

1. ^ Schwartz, Nelson D. (2008-01-25). A Spiral of Losses by a ‘Plain Vanilla’ Trader. The New York Times. Retrieved on 2008-01-25.
2. ^ Fund Accused of Manipulating Gas Markets, New York Times, 2007-07-26. Retrieved 2008-01-24
3. ^ For France, 'an American Defeat', New York Times, 2003-09-25. Retrieved 2008-01-24
4. ^ UPHEAVAL AT SALOMON; Salomon Is Punished by Treasury, Which Partly Relents Hours Later, New York Times, 1991-08-19. Retrieved 2008-01-24
5. ^ An Unusual Path to Big-Time Trading, New York Times, September 27, 1995. Retrieved 2008-01-24
6. ^ In the Matter of Orlando Joseph Jett, U.S. Securities and Exchange Commission, March 5, 2004
7. ^ The Bankruptcy Development That Has Wall St. Worried, New York Times, 2007-02-23. Retrieved 2008-01-24
8. ^ Banking: Watchdogs caught napping, Financial Times, 2007-10-29. Retrieved 2008-01-24
9. ^ Calyon trader fired over big losses says he is not a rogue, International Herald Tribune, 2007-10-11. Retrieved 2008-01-24
10. ^ Former NAB trader pleads guilty, International Herald Tribune, 2005-03-23. Retrieved 2008-01-24
11. ^ City gripped by mystery of the phantom copper dealer, The Times, 2005-11-15. Retrieved 2008-01-24
12. ^ Anatomy of a Staggering Loss, New York Times, 1987-05-11, Retrieved 2008-01-24
13. ^ Procter & Gamble's Tale of Derivatives Woe, International Herald Tribune, 1994-04-14. Retrieved 2008-01-24
14. ^ SFO probes NatWest black hole, Daily Telegraph, 1997-06-27. Retrieved 2008-01-24
15. ^ Croat trader puts bank in £70m crisis, Daily Telegraph, 2003-03-24. Retrieved 2008-01-24