DEFINITION of 'Mr. Copper'

Otherwise known as Yasuo Hamanaka, Mr. Copper was a trader in the copper market who lost over $2.5 Billion for his employer, Sumitomo Corp. (in Japan). The losses amassed from unauthorized trading in secret accounts between 1985 and 1996.

BREAKING DOWN 'Mr. Copper'

He was also referred to as "Mr. 5%" because at one point he controlled 5% of the world copper market. Hamanaka's scandalous activities represent the greatest unauthorized trading loss in history.

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RELATED FAQS
  1. Who is Mr. Copper?

    A sense of mystery still surrounds Yasuo Hamanaka, a.k.a. Mr. Copper, and the magnitude of his losses. From his perch at ... Read Answer >>
  2. What factors affect the price of copper?

    Take a in-depth look at the various factors, big and small, that influence the price of copper in international markets and ... Read Answer >>
  3. How much does China's growth affect the price of industrial metals?

    Find out why the health of the Chinese economy is such an important variable for the prices of industrial metals, such as ... Read Answer >>
  4. How do commodity spot prices indicate future price movements?

    Find out more about commodity spot and futures prices, how to calculate commodity futures prices and how spot prices indicate ... Read Answer >>
  5. What are the most common ETFs that track the metals and mining sector?

    Discover investment opportunities with ETFs that invest in physical precious and base metals and miners such as gold, silver, ... Read Answer >>
  6. I know there is a form of deposit insurance where a portion of my bank account deposits ...

    First things first, it's only partially correct to think that a portion of your bank deposits is protected. The Federal Deposit ... Read Answer >>
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