Ever screw up big at work? You got nothing on this guy.......

That was a nice christmas present for the trader on the other end of the deal. Whoever was fast enough to pick up those shares is due for a huge, huge bonus!

 

Totally priceless !!! A bit scary though, as I do most of my trading electronically, so this could in theory happen to me, but I'm keeping my (thin) fingers crossed that it never does !

If the guy commits hara-kiri over this, he'll be a proud Darwin award recipient to boot.

 

I'm enjoying the short squeeze aspect better than the input error.

 

I'm surprised the trading systems at their level don't have some simple "sanity checks" (like price within 50% of the last price, short sale volume less than the available float, etc) that at least do a "are you sure", "yes, I'm sure" sequence. You don't want that sequence for a 10-20% move as that can happen in a crash, and you need to move fast if that's going on; but there ought to be some sensible limits to contain the damage that won't get hit even in a crash situation.

 

Or it could just be that he was overtrading / lack of discipline and used the "fingers slipped" thing as an excuse??

 

I think it's meant as an adage/aphorism.

 

With the degree of finger-slippage this guy suffers from, I foresee a lucrative future career as a very popular OB-GYN.

 

Assuming this was a mistake, he's better than Nick Leeson.

 

he has a new job now.....he cleans the inside of cardboard boxes..
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I had a similar situation once. I called in an order to buy puts on a stock. Later, when I called my broker to sell, the stock had gone down about 25 points. Good for me, right! So, I called him and whille we were talking he just says, "FUUCK!" and hangs up! So I'm sitting there for about 15 minutes wondering wtf just happened and he calls back. He then tells me that he had accidentally bought calls since the two were coincidentally at the same price at the moment I had ordered them. A 50 point spread! I just said Uhhhhhhhh. He then interrupts me and says, "Don't worry, I covered it myself."

I felt like **** as this was a 6 figure mistake on his part.

 

I heard that story and I don't buy it. Why would he be selling 1 share?

 

Once, I mistakenly amputated the wrong lower limb.......but made up for it by amputating the correct side.

The case went to court but was quickly thrown out by the judge because the patient didn't have a leg to stand on.




!

 

600,000:1 , not too shabby

Dohhh! Where's Uro and his VA stories!

 

That was my thought.

--Dan

 

One share was worth in US Dollars over $5200. Why not sell one share...

 

I have to wonder if the guy wasn't in on it with someone who bought the shares at a super deep discount? I would imagine they will investigate to make sure.

Like ylshih said I'm suprised there is sometype of checks and balances in place at that level or at least a sanity checker.

So Darth did your broker loose his job over that one or did he cover it personally out of his own pocket?

 

too bad the trades were busted. stuff like that happens everymorning preopen (granted not that size)

 

Me either. I looked around international markets, easy now with computers and foud a few "J Com"s but nothing that ever sold over $100 a shair. And def nothing that went for over $5000!!!!

 

I pity the fool without this tool!
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Doh!

 

I just managed a fairly expensive mistake.

Bentley sells paper floor mats to dealers in packs of 300. All I needed to order was one pack. I instead ordered 100 packs, and single handily managed to take Bentley Motors world wide supply of paper floor mats. They sent me 24300 and I had another 6000 on back order. 4 pallets full of floor mats were sent over via air freight to the dealer (as all stock orders are from the UK) and when I returned them back to the parts depot in Kentucky, it cost me close to $2000 in freight. Imagine what their freight to me was.....Bentley is a lil mad at me. Oops.

 

More than that, since you depleted their stock, their inventory system probably automatically ordered more mats to restock their inventory. Now they've probably got a multi-year supply!

 

You should have seen the time at WC Ferrari when the parts guy transposed a # and all those 275 crankshafts came rolling in.

 

Well, the floor mat story is similar....I believe that his sell order represented more shares than were outstanding for the ENTIRE COMPANY!!!!!

So the chaos over that, disrupted the entire system and shut it down.....

Not only did he sell more than he meant to, he sold more of them than there were!!!

I'm gonna go stand next to HIM, as I only lost $642,000.00 USD for the company this year.

"Really, Boss, the train wreck would have been a LOT WORSE, if I had not been driving......."...