According to Reuters. Japan’s Daiwa Securities SMBC suffered a $4.13 million trade loss when a dealer sold shares in a wrong company. The dealer meant to sell shares in a Sumitomo Mitsui Financial Group related company but accidentally entered the parent company’s shares. Half of the trade went through at 400,000 yen below the close of the previous day. Daiwa ended up buying back all the shares sold for a nice little loss. I don’t know if there are more of these trades happening lately or that every little mistake is now being reported. As long as they keep the stories coming and it’s not my money, I’m happy.

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