It's precisely because he's experienced first hand what happens when finance goes wrong that we should listen to him. He's ideally suited to speak honestly and bluntly about finance. I'd trust Leeson more than some of these other "successful" traders who are full of themselves and who just put up a front of bu**s*it.
Also I dont know Leeson personally, but can only say whenever Ive seen him talk in public he comes across as humble, honest and straightforward (a rarity amongst traders).
Why in the name of God would anybody want to know this sh*t bags opinion on anything, especially finance. I hope people spat at him at whatever fair he's at. He is a deluded maniac, demonstrating his continued delusion in this interview. When he started trading his trades were usually wrong, and he couldn't admit that and unwind the positions. Ending up with horrific losses and simply lying about figures. NOT A TRADER JUST AN ACCOUNTS FRAUD!!!!
Why ask a guy who lost near a billion for advice on how to fix any kind of financial issue? The cult hero status this guy has gained from destroying am historic financial institution such as Barings is an absolute disgrace. Not to mention only 4 1/2 years in prison for doing so? Wow..
@TuxIsCool Very true, but, lets get back to Greece, so if Greece Defaults what should inverters do, go short on a Greece 20 (bond- indices ) I cant wait to make some cash on this down fall of a great country!
Well, God gives..God takes, it was God's will for Barrings to lose it all, and for the traders on the other side of the trade to make millions, Britain as a country made billions upon billions from its colonial rule in recent centuries, how many people died of hunger so that Britain got richer.
Apparently barrings bank must have had a sinful colonial past...
@VERGIS92 and how many benefitted from education, trade, infrastructure that were brought by colonial rule. ask zimbabweans, kenyans if colonial rule was bad. god gives fuck all becuase fuck all cannot give you anything
Nick Leeson knows more than anyone the extent he lied, cheated and deceived people, and whilst he was a large part of the collapse of Barings, it was the idiots that allowed themselves to be fed the bullshit he kept on giving them that could have cut their losses, sacked him and still have been left with something, but they carried on funding his fraudulent exploits to the hilt, and it was that that was ultimately what caused losses of £70 million or so escalate into well over ten times that.
Because many people in the financial industry have been doing what he did. Most recently in the last 7+ years. Because he did this back in the 90s he can point out the bullshit. Unlike today though, he had to go to prison. Nowadays banks and investment firms collapse and most of them get a bailout from taxpayers and no prison time.
@CookaChicken Do I think I ran away with the money or He ran away with the money? No, I didn't take any money I didn't work for Lehman Brothers or UBS.
This video was uploaded in 2009 people leave comments saying why listen to him... Look at Greece right now. The whole country may default.
Nick Leeson's input is important because many banks still to this day don't know how it all works. Nick got away with a lot before he got caught because the higher-ups didn't know how it all worked.
@TuxIsCool Very true, but, lets get back to Greece, so if Greece Defaults what should inverters do, go short on a Greece 20 (bond- indices ) I cant wait to make some cash on this down fall of a great country!
@CookaChicken I don't tell people how to invest. To each their own. However, Greece isn't looking good. They are taxing everyone including the poor, pensions, people heading into retirement. This can cause problems because people can get violent and riot. This does not send good signals to the market that Greece is under control. Walkouts are already supposed to happen this week. If Greece goes, you can probably short anything on Wall Street. The FED already said we don't have much to give.
@TuxIsCool well I'll invest in a short any way, say you wouldn't happen to know how i could work on the floor in wall street would you? I'm in Athens right now, speak of the devil! do you work as a trader in wall street?
A lot of those jobs where people are in the pit shouting and using hand signals are now done with computers. Like at the Chicago Board of Trade and at the Chicago Merecantile Exchange the pits aren't as large with people trading as it once used to be. Now they look at computer screens all day and trade.
P.S. what a day on the markets...speaking of shorting.. someone out there probably made good.
@TuxIsCool Ha ha, ye i know, most of those positions are done with, the computer is taking over, now its more like a game right, is it quite in there now, or is it still loud?? I've always wanted to have a position in NYSE Euronext or even the stock exchange in London or at Piazza Affari in Italy. Yes someone who had the (Beeeeep) time to read our youtube chat thread. if I'm not mistaken i just typed in the contracts one should short on, lol I'm so happy i saw this one yet again, I love Money.
You may have to research to find the specifics on how floor traders get hired these days or how many people hold those jobs now. I do know that computers reduced the size of certain pits mentioned in my previous post.
Yes, it is getting interesting. We will see what the G-20 does to influence anything. It didn't rally the market too much. Also Italy and Spain is making its way into headlines of problems as well. Shorting can be good, but small good news can reverse it these days
@TuxIsCool I will do that,research is always helpful,by the way did you see the commodity drops yesterday,what a shame,i was sleeping while the whole thing was happening by the looks of it,a lot of the boys(firms ext)with the big wallets sold off their commodity's and dumped them in the forex market, against the euro, it happened in the QE1 when the price of silver dropped to roughly 4 dollars,silvers going short,only thing is you cant trust a F**i*g commodity,you'll end up like nick over there
Hey, big week this week. We will see how the market plays. Investors are desperate for good news right now. Especially in Europe. Look for news out of Europe. The U.S. is going to have a big week. Economic reports are coming out starting Monday - Friday. Peoples expectations do not look very optimistic, so a big focus is on Europe to see if they have any positive news coming out to rally the markets with. This could be a volatile week!
@flashysimon well people aren't asking him for trading advice, they are asking him for risk management advice. maybe you should watch the interview before you comment. the guy in france who lost 4.9 billion has a job now in a security consulting firm. loads of people who make big fuck ups and use their intelligence to cheat the system get job in these type of areas afterwards, because their opinion is still valuable. its not like these guys are dumbasses...
We must learn from mistakes, so not to repeat them again. What he is saying that people must act together each of them must be a professional at their job. There are incompetent people in the bank chasing profit and don't care about future.
Scum, why are we giving this man a platform his lies and dishonesty cost hundreds of people there jobs and destroyed a British financial institution we will never get back. Do us a favour go hide under a rock for the rest of your life.
@furrymonster08 The fact that it was British is irrelevant. Financial institutions only benefit the rich and the corrupt governments that unrelentingly support them. Leeson only did what everyone in finance tries to do - make as much money as possible regardless of the consequences.
It's precisely because he's experienced first hand what happens when finance goes wrong that we should listen to him. He's ideally suited to speak honestly and bluntly about finance. I'd trust Leeson more than some of these other "successful" traders who are full of themselves and who just put up a front of bu**s*it.
Also I dont know Leeson personally, but can only say whenever Ive seen him talk in public he comes across as humble, honest and straightforward (a rarity amongst traders).
TheBigbigKat 3 months ago
Why in the name of God would anybody want to know this sh*t bags opinion on anything, especially finance. I hope people spat at him at whatever fair he's at. He is a deluded maniac, demonstrating his continued delusion in this interview. When he started trading his trades were usually wrong, and he couldn't admit that and unwind the positions. Ending up with horrific losses and simply lying about figures. NOT A TRADER JUST AN ACCOUNTS FRAUD!!!!
MrGrantNewlands 4 months ago
Why ask a guy who lost near a billion for advice on how to fix any kind of financial issue? The cult hero status this guy has gained from destroying am historic financial institution such as Barings is an absolute disgrace. Not to mention only 4 1/2 years in prison for doing so? Wow..
mrhuge815 5 months ago
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@TuxIsCool Very true, but, lets get back to Greece, so if Greece Defaults what should inverters do, go short on a Greece 20 (bond- indices ) I cant wait to make some cash on this down fall of a great country!
CookaChicken 5 months ago
a bit on the prophetic side - "should be worrying to everybody" "exposes a lack of understanding of the financial market" "always playing catchup"
nalexander21 5 months ago
What ever this guy says : Do the opposite.
CookaChicken 5 months ago
I think he's great - all the best to him :)
2JAMMY 5 months ago
@2JAMMY I'm sure you wouldn't think he was great if he lost your money!
harrynking777 5 months ago
@harrynking777 He didn't :):):)
2JAMMY 5 months ago
Well, God gives..God takes, it was God's will for Barrings to lose it all, and for the traders on the other side of the trade to make millions, Britain as a country made billions upon billions from its colonial rule in recent centuries, how many people died of hunger so that Britain got richer.
Apparently barrings bank must have had a sinful colonial past...
VERGIS92 8 months ago
@VERGIS92 and how many benefitted from education, trade, infrastructure that were brought by colonial rule. ask zimbabweans, kenyans if colonial rule was bad. god gives fuck all becuase fuck all cannot give you anything
utrapzab 7 months ago
Nick Leeson knows more than anyone the extent he lied, cheated and deceived people, and whilst he was a large part of the collapse of Barings, it was the idiots that allowed themselves to be fed the bullshit he kept on giving them that could have cut their losses, sacked him and still have been left with something, but they carried on funding his fraudulent exploits to the hilt, and it was that that was ultimately what caused losses of £70 million or so escalate into well over ten times that.
peterlupton 8 months ago
Comment removed
peterlupton 8 months ago
Why are people asking for advice to one of the worst losing traders on the planet who had to hide all of this losses in order not to get fired?
flashysimon 8 months ago 7
@flashysimon
Because many people in the financial industry have been doing what he did. Most recently in the last 7+ years. Because he did this back in the 90s he can point out the bullshit. Unlike today though, he had to go to prison. Nowadays banks and investment firms collapse and most of them get a bailout from taxpayers and no prison time.
TuxIsCool 5 months ago 9
@TuxIsCool Do you think you ran away with the money??
CookaChicken 5 months ago
@CookaChicken Do I think I ran away with the money or He ran away with the money? No, I didn't take any money I didn't work for Lehman Brothers or UBS.
This video was uploaded in 2009 people leave comments saying why listen to him... Look at Greece right now. The whole country may default.
Nick Leeson's input is important because many banks still to this day don't know how it all works. Nick got away with a lot before he got caught because the higher-ups didn't know how it all worked.
TuxIsCool 5 months ago
@TuxIsCool Very true, but, lets get back to Greece, so if Greece Defaults what should inverters do, go short on a Greece 20 (bond- indices ) I cant wait to make some cash on this down fall of a great country!
CookaChicken 5 months ago
@CookaChicken I don't tell people how to invest. To each their own. However, Greece isn't looking good. They are taxing everyone including the poor, pensions, people heading into retirement. This can cause problems because people can get violent and riot. This does not send good signals to the market that Greece is under control. Walkouts are already supposed to happen this week. If Greece goes, you can probably short anything on Wall Street. The FED already said we don't have much to give.
TuxIsCool 5 months ago
@TuxIsCool well I'll invest in a short any way, say you wouldn't happen to know how i could work on the floor in wall street would you? I'm in Athens right now, speak of the devil! do you work as a trader in wall street?
CookaChicken 5 months ago
@CookaChicken
A lot of those jobs where people are in the pit shouting and using hand signals are now done with computers. Like at the Chicago Board of Trade and at the Chicago Merecantile Exchange the pits aren't as large with people trading as it once used to be. Now they look at computer screens all day and trade.
P.S. what a day on the markets...speaking of shorting.. someone out there probably made good.
TuxIsCool 5 months ago
@TuxIsCool Ha ha, ye i know, most of those positions are done with, the computer is taking over, now its more like a game right, is it quite in there now, or is it still loud?? I've always wanted to have a position in NYSE Euronext or even the stock exchange in London or at Piazza Affari in Italy. Yes someone who had the (Beeeeep) time to read our youtube chat thread. if I'm not mistaken i just typed in the contracts one should short on, lol I'm so happy i saw this one yet again, I love Money.
CookaChicken 5 months ago
@CookaChicken
You may have to research to find the specifics on how floor traders get hired these days or how many people hold those jobs now. I do know that computers reduced the size of certain pits mentioned in my previous post.
Yes, it is getting interesting. We will see what the G-20 does to influence anything. It didn't rally the market too much. Also Italy and Spain is making its way into headlines of problems as well. Shorting can be good, but small good news can reverse it these days
TuxIsCool 5 months ago
@TuxIsCool I will do that,research is always helpful,by the way did you see the commodity drops yesterday,what a shame,i was sleeping while the whole thing was happening by the looks of it,a lot of the boys(firms ext)with the big wallets sold off their commodity's and dumped them in the forex market, against the euro, it happened in the QE1 when the price of silver dropped to roughly 4 dollars,silvers going short,only thing is you cant trust a F**i*g commodity,you'll end up like nick over there
CookaChicken 5 months ago
@CookaChicken
Hey, big week this week. We will see how the market plays. Investors are desperate for good news right now. Especially in Europe. Look for news out of Europe. The U.S. is going to have a big week. Economic reports are coming out starting Monday - Friday. Peoples expectations do not look very optimistic, so a big focus is on Europe to see if they have any positive news coming out to rally the markets with. This could be a volatile week!
TuxIsCool 5 months ago
@flashysimon Sorry..... but....... WHO THE FUCK ARE YOU again ?
scoreflue 5 months ago
@scoreflue somebody who actually makes profits in the stock market, rather that lose millions of dollars. Any other stupid questions like that?
TheGeozyx 5 months ago
@flashysimon well people aren't asking him for trading advice, they are asking him for risk management advice. maybe you should watch the interview before you comment. the guy in france who lost 4.9 billion has a job now in a security consulting firm. loads of people who make big fuck ups and use their intelligence to cheat the system get job in these type of areas afterwards, because their opinion is still valuable. its not like these guys are dumbasses...
Mulligan71991 5 months ago
I think he is pretty awful!
togetvj 1 year ago 3
I think hes pretty awesome.
SuperRandomGuitar 1 year ago
We have learnt from Mr Leeson's mistakes. What he done is praccticly impossible now days
TheHearts2009 1 year ago
@TheHearts2009 indeed. Nowadays people can lose more money and get away with it
jradetzky 10 months ago 3
We must learn from mistakes, so not to repeat them again. What he is saying that people must act together each of them must be a professional at their job. There are incompetent people in the bank chasing profit and don't care about future.
nognew 1 year ago
Scum, why are we giving this man a platform his lies and dishonesty cost hundreds of people there jobs and destroyed a British financial institution we will never get back. Do us a favour go hide under a rock for the rest of your life.
furrymonster08 1 year ago 3
@furrymonster08 The fact that it was British is irrelevant. Financial institutions only benefit the rich and the corrupt governments that unrelentingly support them. Leeson only did what everyone in finance tries to do - make as much money as possible regardless of the consequences.
bobokk 6 months ago