(Cue Daniel Powter's Bad Day music) From yesterday and today's Wall Street Journal (here's a Bloomberg version of the story for those without WSJ access) natural gas trader Brian Hunter lost nearly $5 billion in a week on natural gas trades. This was about half of his employer Amarath's assets under management. There doesn't appear to be any malice involved, just poor controls and a lack of respect for the market, commonly known a hubris. (end music)
I won't rehash the story but this is my new threshold for a bad day. As long as I don't have to go home and tell my wife I lost $5 billion today, I think I'm doing all right.
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