Finance
Bubbles, fortunes, outrageous bets and financial mechanisms that shape the world.
When the Markets Started Selling Without Knowing What to Sell
Some securities briefly traded for a penny. The Flash Crash was neither a simple outage nor the work of one person.
The Genius Fund That Kept Winning Until Wall Street Trembled.
LTCM looked like finance at its smartest. Then one highly leveraged idea started to threaten Wall Street itself.
At 2:08 p.m., Oil Fell Below Zero. Then Sellers Started Paying.
On April 20, 2020, an oil contract plunged to −$37.63 a barrel. The market was no longer looking for a buyer, but for someone with an…
He Didn’t Print Counterfeit Notes. He Convinced the Real Printer to Do It.
The paper was right. The ink was right. Even the plates were official. Only the order should never have existed.
Was a Tulip Really Worth a House? The Truth Is Stranger.
In February 1637, a lot of bulbs suddenly found no buyer in a Haarlem tavern. The market almost vanished before the flowers emerged from the soil.
Account 88888 Was Meant to Hide Small Errors. It Swallowed a 233-Year-Old Bank.
In Singapore, Nick Leeson reported almost risk-free profits. In London, no one looked closely enough at the hundreds of millions being sent to him.
He Paid 10,000 Bitcoins for Two Pizzas. And No, It Wasn’t Foolish.
Laszlo only wanted to avoid cooking. He would wait four days, chase strangers online and end up receiving much more than dinner.