Nick Leeson is a name you should all know an excellent trader that was sold out by the management of Bearings after the dimwitted Lawyers made his accumulated positions a disaster, while they may not have been great positions the staggering losses they generated were as a result of Lawyers overstepping their boundaries and making trading decisions in my not-so-humble opinion.
It is great to be able to read his insights on the market, he joins a veritable rogues gallery of traders offering opinions here at Heffx, and for those interested you can learn to trade with one of the best at www.bizintra.com
Nick Leeson left school at the age of 18 and started work right in the heart of the City of London with Coutts and Company at 15 Lombard Street. Coutts were bankers to the Royal family as well as a host of other well known and financially successful clients.
Shortly after Nick started work in the City, the banking world in the United Kingdom went through its biggest period of change ever with the start of the Big Bang era, a process of de-regulation of Financial Institutions. Awash with opportunity, as the City was in those days, Nick joined Morgan Stanley International, a premier America Investment Bank. Nick started to specialise in Japanese futures and options at this point, a particularly niche area at this time and was headhunted to Baring Securities to fulfil a similar role there.
Travelling extensively throughout his time with Barings, notably Indonesia, Japan and Hong Kong, Nick settled in Singapore to activate the Banks seat on the Singapore International Monetary Exchange. His story from the trading floors of Singapore to the collapse is well chronicled but his experiences of that time prove invaluable in developing a day trading strategy that leaves no overnight positions.
Nick Leeson’s expertise is in looking for entry and exit points around changes in direction, a strategy based on a mixture of sentiment and technical analysis.
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Former Managing Director of Goldman Sachs
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