In the banking industry - if traders invest badly and try to cover it with further investments ( hoping they will come good) that also fail to deliver resulting in the losses of millions or more.. does that make them a rogue trader, or is it that their investments have failed, and they were just unlucky?
From the little I'm picking up it seems that gambling investments seem commonplace in the industry..
When it works I suspect everyone celebrates, when it fails..
Put it this way.. I'm sure nobody wants to fail.. and would never deliberately lose money..
I fear it's not the individuals, but the entire culture which may need to change.. I doubt it ever will..too lucrative.. yes I suspect some traders are reckless.. but if recklessness is often rewarded the temptation will always be there..
If any of you are bankers feel free to enlighten me..
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