well in terms of the most indebted person in the world,
(A.K.A. poorest person in terms of money in the world), it
must be Jerome Kervie, He is an ex-Societe Generale Trader
who has a debt of $6.3 billion after dealing in $73 billion worth of
unauthorised deals, forgery and other sketchy deals, this makes him the most
indebted person in the world, in 2005 he was promoted to a Junior Trader for
his bank in the Delta One business, which consists of program trading, swaps,
exchange-traded funds, quantitative trading and index futures, He was hailed as
a "Computer Genius" by the Governor of the Bank of France, Christian
Noyer, so on Jerome's salary of $66,000 a year he set to work, what he was
using were massive funds for was known as arbitrage trading, where you take advantage of
two stocks having different prices, in different markets when they should have the same price, a
better explanation can be found here Arbitrage
Definition | Investopedia, anyway, what he should have done is sell the
expensive stock, buy the cheaper stock and wait for them to become the same
price, apparently, to give an idea of the sizeof the losses, it was 6 times the loss that what Nick Leeson lost for Barings, for
an update on the most indebted man in the world have a look here.
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