Boris Schlossberg
BK Asset Management
In this video, I explore the infamous case of Nick Leeson, the rogue trader who single-handedly brought down Barings Bank, Britain's oldest merchant bank, in 1995. This shocking financial disaster reveals how one trader's hidden losses spiraled to $1.3 billion, destroying a 233-year-old institution that had survived both World Wars.
Learn how organizational weaknesses and poor supervision enabled this historic collapse. The video examines Leeson's background, prison sentence, and his remarkable post-prison transformation. Special focus on lessons for modern traders and financial institutions about addressing losses immediately rather than hiding them. I share Leeson's current perspective and how his story continues to influence risk management in global finance today.
Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.
Editors’ Picks
EUR/USD extends losses to near 1.0900 as Fed decision looms
EUR/USD extends the drop to test 1.0900 in European trading on Wednesday, pressured by a decent US Dollar recovery. Traders resort to position adjustment, lifting the Greenback ahead of the US Federal Reserve interest rate decision.
GBP/USD slips below 1.3000 amid firm US Dollar ahead of Fed decision
GBP/USD edges lower, trading around 1.2990 during Asian hours on Wednesday after posting gains in the previous two sessions. The pair struggles as the US Dollar remains firm, supported by stable US Treasury yields ahead of the Federal Reserve’s interest rate decision later in the day.
USD/JPY falls back toward 149.50 after BoJ Ueda's presser
USD/JPY faces rejection at 150.00 and turns lower toward 149.50 in the European session as traders assess BoJ Governor Ueda'a comments. Earlier in the day, the BoJ announced that it left monetary policy settings unchanged, as anticipated. All eyes are now on the Fed outcome.
Editors’ Picks
EUR/USD extends losses to near 1.0900 as Fed decision looms
EUR/USD extends the drop to test 1.0900 in European trading on Wednesday, pressured by a decent US Dollar recovery. Traders resort to position adjustment, lifting the Greenback ahead of the US Federal Reserve interest rate decision.
Gold pauses near all-time peak amid US Dollar recovery, Fed eyed
Gold price struggles to capitalize on the Asian session uptick to the $3.045 area or a fresh all-time peak as bulls pause for a breather and opt to wait for the outcome of a two-day FOMC meeting before placing any directional bets on the bullion.
USD/JPY falls back toward 149.50 after BoJ Ueda's presser
USD/JPY faces rejection at 150.00 and turns lower toward 149.50 in the European session as traders assess BoJ Governor Ueda'a comments. Earlier in the day, the BoJ announced that it left monetary policy settings unchanged, as anticipated. All eyes are now on the Fed outcome.
XRP battles key trendline support as long-term holders continue holding onto large profits
XRP futures open interest has remained largely flat since the market crash in early February. The remittance-based token has shed 33% of its OI between February 1 and March 18, per Coinglass data.
Tariff wars are stories that usually end badly
In a 1933 article on national self-sufficiency1, British economist John Maynard Keynes advised “those who seek to disembarrass a country from its entanglements” to be “very slow and wary” and illustrated his point with the following image: “It should not be a matter of tearing up roots but of slowly training a plant to grow in a different direction”.
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