Jul 1, 2010
Bad Night at the Office
How a broker spent $520m in a drunken stupor and moved the global oil price.
Ouch. Not only did this traders’ drunken black-out purchase lose $9.7m and lead to a $7.6m loss for the year for his firm, it also moved the global price of oil $1.50 overnight.
Amazing. In other news, Steve Perkins was relieved of his job as a oil futures trader last year.