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Book Review: Going for Broke (Total Risk)

Going for Broke: Nick Leeson and the Collapse of Barings Bank (Total Risk in the US) is written by Judith Rawnsley. The book offers an overview of the collapse of Barings Bank and a detailed commentary on the life of Nick Leeson and his involvement in the collapse of Barings Bank. It also layouts the events that took place leading to the collapse of the bank.

Judith Rawnsley was a correspondent for a Japanese newspaper. She later secured a job at Barings Bank (Barings Securities Japan Ltd) and has since worked in compliance management for several investment banks. Going for Broke is Judith's only trading related publication. She provides a very interesting read and
her writing style will keep the reader engaged.

Below is my review of Going for Broke...

It's Well-Written

The book is written with no flowery language and with very little investment, finance or trading lingo. This makes the publication easy to understand and follow, even for someone with a limited finance vocabulary. The book is very factual and covers certain events and decisions made by Nick Leeson, that eventually lead to his arrest and the collapse of Barings.

It's Written from First-Hand Experience

Rawnsley was an employee at Baring's Bank and openly admits the failings of the bank. I like that this book is written by an 'insider', rather than someone who has no experience in dealing with Barings.

It's about Nick Leeson

Any book or publication about Barings Bank or Nick Leeson, is very fascinating. Going for Broke provides a very detailed account of Leeson, his time and Baring's and events leading to the collapse of the bank. I actually found this book more detailed and gripping than Leeson's autobiography Rogue Trader.

Summary

If you are interested in learning more about the collapse of Barings Bank and about the part that Nick Leeson played, this book is a great read. There are obviously no trading strategies or advice on trading in this book.

If you would like to purchase this book, please use this link if you are in the UK or this link if you are in the US.

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