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Comment: USED PAPERBACK; VERY GOOD CONDITION; CLEAN TIGHT TEXT WITH NORMAL READING WEAR TO COVER; SMALL CLOSED TEAR TO SPINE;
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Rogue Trader Paperback – June 5, 1997

4.2 out of 5 stars 26 customer reviews

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Editorial Reviews

Review

Hair-raising...as revealing a document about contemporary Britain as all 2,000 pages of the Scott Report - OBSERVER The story of Leeson and his bride has it all: filthy lucre, brazen abuse of power, and boy-meets-girl romance - SUNDAY TIMES Simultaneously entertaining and appalling - FINANCIAL TIMES 'When Nick Leeson was arrested in 1995 for bringing Barings Bank to its proverbial knees, it initially seemed as if he had single handedly crushed this most well-established and well-respected financial institution, and indeed it was he alone who found hi Susan Harrison, AMAZON.CO.UK REVIEW

About the Author

Nick Leeson was born in Watford in 1967 and after a stint at Morgan Stanley joined Baring Brothers in 1989. His immediate success led to his transfer to Singapore. The rest is history. In August 1998 it was revealed that he has contracted cancer.
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Product Details

  • Paperback: 400 pages
  • Publisher: Sphere (June 5, 1997)
  • Language: English
  • ISBN-10: 0751517089
  • ISBN-13: 978-0751517088
  • Product Dimensions: 4.4 x 1.1 x 7 inches
  • Shipping Weight: 7.8 ounces
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (26 customer reviews)
  • Amazon Best Sellers Rank: #1,514,490 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Jerry Sanchez VINE VOICE on October 23, 2007
Format: Paperback
As it turns out, Nick Leeson does not seem to be a terrible guy, although he single-handedly caused the collapse of one of the oldest banks in the world in early 1995, Barings Bank. I just don't understand how he could let the 88888 account continue for so long once the losses started building. Why not confess? What started with some mistakes and an attempt to hide them soon took on a life of its own and grew out of control. Sure, Barings should have had more internal controls and could have monitored Leeson better, but to think that a young kid from suburban London would outwardly forge reports and signatures to cover his trail is unbelievable. It was fraud and he knew it.

This book is an interesting account of the collapse of one of Britain's oldest and most powerful merchant banks by Nick Leeson while trading derivatives on the Singapore, Nikkei and Osaka stock exchanges. Leeson recreated conversations and the year leading up to his capture with amazing detail, all of which makes for interesting reading. I was interested in the underlying reasons for the collapse of Barings, and thus, the book did drag on a bit. But once Leeson realized he would be discovered and fled Singapore with his wife in late February 1995, the story really got exciting. All in all, an interesting self-account of how covering one's mistakes will lead to lies upon lies, which, as it did with Leeson, will ultimately lead to disaster.
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Format: Paperback
Rogue Trader is a well written, fast paced, intimate first hand apologetic of Nicky Leeson's dealings on the Simex trading floor in Singapore and how he managed to run up huge losses to the tune of £600 million without anyone noticing and breaking one of England's oldest merchant banks. In a world where Jerome Kerviel loses EUR4.9 billion on the back of EUR49.9 billion in unauthorized trades for Société Générale , Bernie Madoff runs a US$50 billion Ponzi scheme, where Lehman Brothers no longer exists and AIG is bailed out by the US government for US$180 billion, the "small" affair of losing £600 million in unapproved futures trades and options gambling doesn't seem so terrible, but it was enough to break one of the oldest merchant banks in the UK and create one of the hugest scandals in banking history at the time. Since Leeson broke Barings, many other financial catastrophes and corporate scandals (Long Term Capital Management, Enron, the dot com bubble and sub-prime mortgages to name a few) have come and gone and some remain with us today. Perhaps these events make Rogue Trader even more relevant today than ever.

It seems ironic that in this account of his misdeeds Mr. Leeson comes across as being incredibly honest about his fraud and his crimes. He doesn't shy away from the things he did and admits that he, and he alone is to blame for the catastrophe that befell Barings. He offers excuses (loyalty to the team, covering up their mistakes etc.) but ultimately the book is clear: once the initial deficit in the famed 88888 error account was cleared, greed to generate large profits on a risky futures spread led to the spiraling effect that eventually accrued severe losses for Barings and finally led to their downfall.

Mr.
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This is a truly captivating book for all who have an interest in financial markets. As an insight into how large financial institutions operate, it is a must read for auditors, students and managers in how not to run a business. The pace is fast with the onsetting panic of Leeson being palpable as he races towards the inevitable crash. The Ewan McGregor movie obviously stuck close to the book, but if you have already seen the film it will not distract from the book which adds more layers of complexity to the story. Well written, amazing insights and some thoughtful life lessons given.
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Format: Paperback
If you want to know the reasons and the background of the fall of Barings bank, I recommend it. You will be surprised what were the levels of control at that time in the most respectful bank in Europe and in the world. Nowadays it's really hard to imagine that one simple back office manager could lead the whole bank giant into trashes. Good reading and relaxing with a flair of adventure.
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Format: Paperback
The tale of Nick Leeson's catastrophic trading that brought about the collapse of Baring's bank is perhaps the most famous scandal in banking history. It is also an absolutely fascinating read. Although the film version of the story is gripping and intense, nothing can compare to the written word when portraying the terror, panic and inner turmoil that Leeson went through as his 88888 account losses spun out of control.

Far from being a cold clinical recounting of a messy financial scandal, Leeson's book is a far more personal tale. The stories about his struggles at Barings are interspersed with tales about his personal life in Singapore as well as his marriage to his wife Lisa. Indeed as his professional problems began to mount, Lisa became increasingly the rock that he clung to for salvation.

Some of the ways in which Leeson's actions went undetected are simply mind boggling. It is astonishing that some of the higher ups at Barings didn't get prosecuted for criminal negligence, but I suppose that's the way of the business world. Even if you have already seen the movie, I wouuld strongly advise you to read this fascinating book, as it is impossible to beat the written account of Leeson's roller coaster ride.
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