Crazy Trading Investment

Crazy trading investment nearly collapses the market

In 2007 a New York trader made a trading investment not worth millions, but rather billions, of dollars. But he got it all wrong. As a result of his error, the Dow Jones Industrial Average suffered a thousand point drop and the markets nearly collapsed. People started panicking and many orders got triggered to sell. This caused one of the biggest crashes ever seen, and the trader was probably responsible for a lot of heart attacks that day! He was from Citigroup, and after that, not surprisingly, he lost his job! Fortunately for investors, once the crash was identified as being the result of human error, the market quickly recovered.

Mike Tyson’s fortune takes a big hit

Mike Tyson’s Fortune Takes a Big Hit

He is one of the greatest boxers ever, but one with the most dubious personalities. He was a far cry from the highly educated PhD graduates who dominate heavyweight boxing today. Given the nature of this guy, it’s not really too surprising that after having $400 million in the bank, he ended up filing for bankruptcy in 2003. A million dollars was pocket change for him, and he thought nothing of spending $2 million on a bathtub, $4.5 million on various cars with James Bond style gadgets, and a few hundred thousand on a set of tigers! He reportedly entrusted his investment portfolio to friends, who just squandered the money away buying huge amounts of extremely high risk stocks. For their sakes, I hope they are FAR away from Tyson now!

Click here for Part 1 of article

Leave a Reply