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Rogue Trader Paperback – June 5, 1997
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Top Customer Reviews
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.
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.Read more ›
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.
Most Recent Customer Reviews
For those interested in financial area, reading that one is a must.Published 4 months ago by Amazon Customer
This is a great book about what can happen if events are permitted to spiral out of control. It is indeed a downer, however, it is a essential read for business and personal lives... Read morePublished 5 months ago by S. Miller
Well written, deep insight on the system, a little bit to much side detail
Welll worth reading, never boring , education on the finantial world
It is better to face problems immediately delaying only make them worse. Nick leeson proved it.Published 14 months ago by Abdulmuhsen S Al Meshaan
It was in good condition..
I mean i dont mind getting books in such a condition at such good price...
Great Quality. Made good gift for stock traders. I had to go through page-by-page & mark out the worst language, but the story was worth the trouble.Published 19 months ago by Big Daddy
Much better than the movie. A great read for brokers, hedge fund managers, and those featured on American Greed.Published 23 months ago by Jon Langione
If you liked Rogue Trader the movie, then you'll love this book. I first saw that film in 2008 after I got crushed in the market by being long and averaging down eur/usd in... Read morePublished 23 months ago by Vlad