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What a Rogue Trader Learned From the Financial Crisis

Knowledge at Wharton·@HashtagPLUS·about 1 month ago
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During the global financial crisis, Alexis Stenfors was a rogue trader at Merrill Lynch, cooking the books to hide the millions he lost in the market. He recounts his experiences in a new book, Barometer of Fear: An Insider’s Account of Rogue Trading and the Greatest Banking Scandal in History . Stenfors is now a senior lecturer in economics and finance at the University of Portsmouth in England. He talked about his book on the Knowledge at Wharton show, which airs on SiriusXM channel 111. An edited transcript of the conversation follows. Knowledge at Wharton: In your role now in the teaching profession, what do your students ask you about your time as a rogue trader? Alexis Stenfors: They don’t really ask anything because I think they’re too embarrassed to ask. When I normally start off the first lecture or the first seminar during the new year, I introduce myself and briefly go over the period. It’s an icebreaker because once you’ve been labeled a rogue trader, then it’s such a big thing.…

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