Sue the Stockmarket!

Submitted by Marco Palmero on 3 April, 2008 - 06:42

Here is an article about a gambling addict who lost $30 million and is suing the casino for it. Imagine if you, the trader, can sue the house – the stockmarket for any huge losses. There'd be no markets since losers would continually sue the markets. Trading may be gambling but any losses incurred are totally your responsibility. Take rogue traders' like Nick Leeson and Jerome Kerviel - the banks that the incurred huge losses had to absorb their own trading mistakes. The best solution to mitigate the risks related to market volatility are to strictly observe your stop loss and money management rules. So this is a lesson for gambling addicts. Stay away from the markets. You can’t sue the stockmarket for whiplash.