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Big losses create corporate pariahs

UBS has UK police one of their traders as a “rogue trader.” He lost $2.3 billion (Bloomberg). I find that interesting. A different philosophy under the new portfolio manager and it may cost UBS investors their million-dollar bonuses.

What is interesting is the idea that they lost $2 billion and UBS wishing to isolate the trader. If he would have won $2 billion, they would have made him a partner. If he would have earned $2 trillion, the owners would have sold him the company.