A Rogue's Gallery of Failures ASKIN CAPITAL MANAGEMENT (1994) -- A $600 million hedge-fund empire collapses, a multifaceted calamity that was touched off by inaccurate valuations fed into a model used to trade mortgage-backed securities BANK OF TOKYO-MITSUBISHI (1997) -- Records $83 million in derivatives losses from errors in one of its derivatives models NATWEST CAPITAL MARKETS (1997) -- Takes a $112 million hit from mispricing a portfolio of German and British interest rate options UBS (1997) -- Huge Swiss bank loses $412 million from derivatives, partly because of bad prices fed into an equity derivatives pricing model DATA: BUSINESS WEEK RELATED ITEMS COVER STORY: FAILED WIZARDS OF WALL STREET COVER IMAGE: Misfire TABLE: Why the Computer Models Misfired CHART: One Way the Quants Got Creamed COMMENTARY: WHEN COMPUTER MODELS SLIP ON THE RUNWAY TABLE: A Rogue's Gallery of Failures ONLINE ORIGINAL: HEDGE FUNDS AND YOU: YES, THERE'S A CONNECTION Return to main story

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