A Taiwan stock trader, according to a Reuters report posted in News.com, “mistakenly bought $251 million worth of shares with a misstroke of her computer keyboard.”
The report said the company is looking at a paper loss of more than $12 million. The report said “the trader was unfamiliar with new computer systems and will be fired.”
The act might dislodge davilar (a verb) from the vocabulary of stock trades gone bad – really bad.
In 1994, Jan Pablo Davila of Chile, a former employee of the state-owned Codelco Company, was reported to have sent “buy” instructions through his computer when he meant “sell.”
According to this entry in Wikipedia: “He subsequently attempted to recoup his losses by making increasingly unprofitable trades that ultimately lost 0.5 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.”
Max is a journalist and blogger based in Cebu. He has written and edited for such publications as The Freeman, The Independent Post, Today, Sun.Star Cebu, Cebu Daily News, Philstar Life, and Rappler.
He is also a mobile app and web developer and co-founded InnoPub Media with his wife Marlen.
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