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Currently Playing: I Lost £862 Million

In 1995, Nick Leeson brought down the UK’s oldest merchant bank, Barings, with £862 million in hidden losses, one of the biggest financial collapses in history. He explains how it really happened and how things spiralled over time. Was it fear of failure, the pressure to succeed, or something deeper that kept him going? 🤝 Want 1:1 financial help from us? Answer a few questions to find the right service & book free call: https://getmost.typeform.com/pod-episodes 🎉 Sponsors Vanta - Get your company secure and compliant: ⁠https://vanta.com/makingmoney Xero accountancy software - get 90% off for 6 months: https://referrals.xero.com/makingmoney - If you purchase a product or service using one of the links above, we may receive a commission. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk. This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00 - Markets Will Eat You Alive 05:05 - I Stretched It To The Absolute Limit 09:47 - What He Did 14:42 - Vanta ad 15:30 - Waiting For The Knock On The Door 20:24 - I’m Half The Size Of the Market 24:14 - Hiding Losses To Boost Profits? 31:00 - I Wanted It To End 34:17 - Xero Ad 35:20 - A £862 million Loss 37:19 - Was This Really About The Cash? 45:00 - After The Collapse 50:24 - What Happened To Barings? 53:09 - Bonuses Were Huge 58:47 - In Banking People Don’t Want To Know 01:01:58 - It Wasn’t Pressure To Perform