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108: Breaking the Bank (Part II) with ‘Rogue Trader’ Nick Leeson

This week on episode 108 of the Two Blokes Trading podcast:

  • PART 2: Tom continues from where he left off with Nick Leeson. The conversation picks up right as they left it, discussing the strict laws enforced in Singapore before discussing the cocktail ‘The Bank Breaker’ that was named after him.
  • Nick goes into how the losses mounted up for him, pretty much straight from the minute he got off the plane in Singapore.
  • Nick talks about how he’s coped since that time and how he’s been able to find his way back to trading.


Guest Interview with Rogue Trader ‘Nick Leeson’

The 2nd part of Tom’s interview is with 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 and Nick share their opinions on Singapore’s chewing gum laws before the way to land a life sentence for carrying ‘a little’ heroin
  • ‘The Bank Breaker’ in Harry’s on Boat Quay
  • When everything went south, starting with the original errors that lead to the five-eights account
  • Despite Nick wasn’t technically the first ‘Rogue Trader’, he still claims to be the ’original’ Rogue Trader
  • How he used alcohol to avoid the realisation of what was happening
  • Not Nick –> “A little bit of naughty business…a bit of false accounting with €7billion”
  • Tom – “How could you possibly want to keep trading after an experience like the one you had?”
  • Nick’s total loss was £862million
  • Nick dishes out some advice around how to deal with losing and more generally, the way to come to terms with something that isn’t natural

 Where can you find Nick Leeson?


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.



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