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107: Breaking the Bank with ‘Rogue Trader’ Nick Leeson

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This week on episode 107 of the Two Blokes Trading podcast:

  • PART 1: New Tom takes over for the first time and sips some of Two Bloke’s favourite Zacapa Rum with old trading friend, Gareth.
  • Tom’s first guest is infamous Rogue Trader ‘Nick Leeson’, the man who broke Barings Bank back in the early 90’s
  • Nick explains how he climbed the ranks in Barings using Telex to make trades and how he ‘didn’t’ get involved in a £2million World Cup bet in Singapore.
  • Part 2 of this interview will be released next week.

 

Guest Interview with Rogue Trader ‘Nick Leeson’

Tom (the new Tom) interviews Nick Leeson, the infamous trader that broke Barings Bank by losing over £800 million, over twice the available trading capital of the bank.

Nick was sentenced to 6 and a half years in a Singapore prison, although he was released early after being diagnosed with colon cancer. He has recovered and since written a number of books on his experience, while Ewan McGregor played him in the 1999 movie ‘Rogue Trader’. Today, he consults on risk management to investment and financial companies around the world, while still speaking on the after-dinner circuit. He also acts as the Head Trade Consultant at Bizintra Financial Academy.

 

Main Topics Discussed:

  • Tom asks Nick for some gym and lifestyle advice and is told that kebabs and pints was the diet that led him to finish the London Marathon in about four and a half hours.
  • Starting out in Lombard Street at Coutts Bank
  • Nick explains the differences in the technology required to make trades back in the 90’s compared to the ability to trade on your phone nowadays. The Telex!
  • Nick speaks about what the typical trader in Coutts was like and the lifestyle he had.
  • Working through the night and finding a work/life balance as a trader
  • “There’s always a World Cup book going around” – There was a $2million bet on Bulgaria not turning up to the semi final

 Where can you find Nick Leeson?

Website: http://www.nickleeson.com

Twitter: @TheNickLeeson

 

 

Two Blokes Sponsor

Today’s episode is sponsored by Bizintra Financial Academy. Bizintra offers sponsored trading programmes that have been developed by professional traders. Don’t pay a fortune to learn how to trade. Simply sign up by using one of their partner brokers and receive trading education and signals by institutional traders.

https://bizintra.com/twoblokes/

 

 

Want to Talk Shop with the Two Blokes Community?

Go to www.twoblokestrading.com/discord and you will automatically be taken to our Discord invite page where you can log in or sign up to be directed to our group.

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About the author, Gareth

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