Boy Blunder's $5.9m bad deal - Aussie Stock Forums

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  1. #1
    skc's Avatar
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    Aug 2008
    The dark side
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    Default Boy Blunder's $5.9m bad deal

    Interesting article for those who is thinking about managing other people's money one day.


    George Hawa lists a tome on the psychology of currency trading on his MySpace page as his favourite book.

    But Trading in the Zone, by Mark Douglas, could not help the 25-year-old Sydneysider, who appeared in court today accused of losing $5.9 million of his friends' and family's savings on the markets.

    Mr Hawa, who lives with his parents in the north shore suburb of Seaforth, faces 58 fraud-related charges.

    Police allege he traded alone, unlicensed and unregistered, for five years, amassing - then blowing - a total of $5.9 million.
    He might not be the best trader around, but he might be a great sales and marketing if you ever operate your own fund.

  2. #2
    white swans need love too Timmy's Avatar
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    Sep 2007
    Between the lines

    Default Re: Boy Blunder's $5.9m bad deal

    Sounds like he got into the wrong zone.
    The contents of this post were tested, ruthlessly, on small, cute, furry animals. Most of them were fatally harmed. Hence, if this post causes irritation, please discontinue reading immediately.

  3. #3

    Default Re: Boy Blunder's $5.9m bad deal

    Quote Originally Posted by Timmy View Post
    Sounds like he got into the wrong zone.
    Wow what a scary story. it allways amazes me how people can find ways to lose money when motivated by greed.

  4. #4
    awg's Avatar
    Join Date
    Sep 2007
    Newcastle, NSW

    Default Re: Boy Blunder's $5.9m bad deal

    Are we sure this character has not been a poster on ASF ?

    Theres a few prominent young "traders" gone awol over the last few months

  5. #5

    Default Re: Boy Blunder's $5.9m bad deal

    Amassing $5.9 million in 5 years and building a client base of 58 people and blowing it all must have taken some kind of ponzi scheme I imagine?

    My guess is he was relatively successful in in the first couple of years and then got smashed hard in the GFC - he still managed to 'recover' $1.7m, makes a whopping 71% loss

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