Worst 10 mistakes of managed forex investors
We all make mistakes, but ours do not cost as much as these guys’:
Toshihide Iguchi
As a bond trader for Daiwa Bank’s New York office, Iguchi lost the bank $1.1 billion over 12 years from 1983 and 1995. His trades were consistently making losses, but rather than own up to his mistakes, he sold off the bank’s assets worth $733 million and customers’ securities worth $377 million.
These illegal trades were done in an attempt to recover the lost money from his investments.
Nick Leeson
Working as a trader for Barings Bank since 1989, he initially made good profits, but then his luck turned and he started making losses. Instead of reporting them, he hid the losses, which accumulated to £208 by 1994. The largest losses came in 1995 when the Kobe earthquake hit Japan while he was h
