When letting a friend manage one’s money results in $4.7m losses
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After all, the trader came highly recommended by the investor’s son-in-law.
ST ILLUSTRATION: MIEL
An investor thought it was a good idea to let a friend manage his $5 million foreign exchange portfolio, since he was promised that his capital would always remain intact.
After all, the trader, who seemed confident in his ability to play the currency markets, came highly recommended by the investor’s son-in-law.
