Ex-Goldman Trader Loses Big on Instincts

Kelvin Chiu, a former commodities trader at Goldman Sachs Group Inc. and Vitol Group, made a fortune in agriculture markets four years ago. He then went independent, earning enough to start a family office.

However, he had most of his money invested in passive stocks designed to be left alone, which cost him a significant amount when the markets plunged following Russia's invasion of Ukraine.

Chiu trusted his instincts and slashed his holdings at that time, but unfortunately missed out on the rebound. This experience was a costly lesson for Chiu, who had honed his trading skills during his stints at Goldman Sachs Group Inc. and Vitol Group.