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JPMorgan Trader Encouraged to Boost Valuations (WSJ)
Iksil’s boss pushed him to put higher price on his trades.
The trader whose huge bets on a corporate credit index cost JPMorgan $x billion was encouraged by his boss to put a higher valuation on some of his trades. Bruno Iksil, nicknamed the “London whale” for the size of his positions, was pushed to use higher valuations by the then-credit trading chief for the bank’s chief investment office, Javier Martin-Artajo.
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