Female Rogue Trader

Here it is. The biggest female rogue trader was brought forward today. Gail Edmonds lost Citigroup Trading $20 million while trading Gold and Silver. What made her a rogue trader and not just a bad trader? Edmonds had as much as $373 million of open positions, nearly 75 times her trading limit. This all happened in 2003 but is just now becoming public the New York Stock Exchange’s regulatory unit released documents describing Edmonds’s activities in connection with its decision to fine New York-based Citigroup (Charts) $500,000 for failing to properly supervise its precious metals trading desk. If she would have been long and just held on a few more years she could have been up a few hundred million up.