Side Notes by Zerodha Varsity

How a Rogue Trader caused the collapse of UK-based Barings Bank?

Episode Notes

Nick Leeson was a young trader at Barings Bank who was tasked with setting up a trading desk in Singapore. He was an aggressive risk-taker who told small, harmless lies that soon became big enough to bankrupt the bank. He exhibited several behavioral biases that also led him to run a full-fledged scam. When in prison, he wrote a book called Rogue Trader, detailing how he orchestrated the whole scam at Barings.