1994 - Economics

Year1994
CategoryEconomics
DescriptionJan Pablo Davila of Chile, tireless trader of financial futures and former employee of the state-owned Codelco Company, for instructing his computer to "buy" when he meant "sell," and subsequently attempting to recoup his losses by making increasingly unprofitable trades that ultimately lost .5 percent of Chile's gross national product. Davila's relentless achievement inspired his countrymen to coin a new verb: " davilar," meaning, "to botch things up royally."
Reference"Barings Lost : Nick Leeson and the Collapse of Barings Plc" and "Big Bets Gone Bad".
WinnersJan Pablo Davila