Boaz Weinstein is an aggressive trader who once lost $2B, too
(NEWSER) - Credit (or blame) Boaz Weinstein—a 38-year-old hedge fund trader known as a "monster" for his aggressive, risky style—for the $2 billion takedown of JPMorgan, reports the New York Times . Weinstein, a chess master and big-time Las Vegas gambler, isn't talking, but numerous other traders say he is the one who noticed something amiss in the credit derivatives market last November, spotting a particular index trading out of line in a market it was supposed to track. Weinstein and his team at Saba Capital Management did not know JPMorgan and the trader Bruno Iksil were on the other side; all Weinstein knew was that the other side kept selling, so he kept buying. More»
