Oops! Trader mistakenly spends $251 million


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TAIPEI, Taiwan - A Taiwan stock trader mistakenly bought $251 million worth of shares with a mis-stroke of her computer, meaning her company is looking at a paper loss of more than $12 million and she is looking for a new job.

The trader with Fubon Securities made a typo while filling in a small order from Merrill Lynch on Monday, creating confusion when many small firms inexplicably surged past the 7 percent trading limit.

?Something like this is difficult to explain to superiors,? a Fubon executive said on Tuesday.

Fubon said that the trader was unfamiliar with new computer systems and would be fired.

?There is a paper loss of more than T$400 million,? said the executive.

?However, with a good outlook for stocks in the second half, there are no plans to sell the shares in the near term.?

News Source: MSNBC

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Hehe, i can just imagine what?ll happen if that stock skyrockets within the next few months. I bet that lady will be hired back, and with a big fat promotion too :DD Lol, or if the stock goes down to ****, and they start crying ?Why didn?t we sell when we had the chance??

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