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The 3 Billion Dollar Typo

Posted by Zonk on from the this-is-why-coffee-is-a-daily-requirement dept.

Rand310 writes "Mizuho, the world's second largest bank based in Japan, with total assets of nearly the GDP of France (around 1.2 trillion USD) accidentally sold 610,000 shares, valued at $3.1 billion... for 1 yen each. A 27 billion yen loss would almost match Mizuho Securities' group net profit of 28.1 billion yen for the financial year ended in March, though... the incident would not threaten the brokerage's financial stability. FYI 1 yen is about .83 cents. Yesterday one share was selling at $5,065, today you could theoretically have bought 610,000 shares for $.0083 each. An expensive switch of variables."

2 of 398 comments (clear)

  1. Simpson's reference by theNOTO · · Score: 0, Offtopic

    Please mash the keypad and a special typing wand will be sent to you.

  2. The End Of Slashdot by bombadier_beetle · · Score: 1, Offtopic

    Slashdot: The 3 Billion Dollar Typo

    Digg: $225 million dollar typo

    It's over, Slashdot. You're slow, inaccurate, outdated and irrelevant. Digg is the future.

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