Lessons from rogue trader Nick Leeson

Nick Leeson was flipping through television channels on March 11 when he saw the shocking images of the Japan earthquake.

It provided a stark reminder for the one-time high-flying broker because Japan's last major temblor led to the exposure of his massive loss-making trading positions that sank his 233-year-old bank.

The market volatility following Japan's latest disaster meant there is a chance other traders could be caught out just as he was after the Kobe quake in 1995.

"When any market moves significantly, there's a chance it will shake out something like my story," he told Reuters by telephone from the west coast of Ireland where he now lives.

Text: Reuters

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