Daily Investment Tips

Switzerland’s UBS said on Thursday it had discovered unauthorized trading by a trader in its investment bank had caused a loss of some $2 billion.

The company did not release the name of the rogue trader. The company only said the matter is still being investigated. AP news is reporting Police in London have arrested a 31-year-old UBS trader, Kweku Adoboli, in the alleged fraud.

We can only wait to know whether Kweku will be joining the following infamous list of rogue traders:-

Jerome Kerviel – Former Societe Generale trader

Evan Dooley – Former MF Global trader

Steve Perkins – former oli trader at PVM Oil Futures

David Redmond – Former Morgan Stanley trader

Joseph Jett – former top Kidder Peabody bond trader

As for now, UBS has yet to confirm whether Kweku is the rogue trader.

written by Constantine Njeru \\ tags: Ap News, Bond Trader, David Redmond, Dooley, Fraud, Global Trader, Investment Bank, Joseph Jett, Kidder Peabody, London, Lost, Mf, Morgan Stanley, Mystery, Oil Futures, Rogue Trader, Rogue Traders, Societe Generale, Steve Perkins, Switzerland, Ubs, Unauthorized Trading

Investing school or class you attend will determine your success or failure. Maddof created the largest fraud in history, the question is where did the guy learn how to do what he did.

This cartoon tells it all

written by Constantine Njeru \\ tags: Bernie madoff, Cartoon, Failure, Fraud, Investing, Investing school, Ponzi scheme, Success