Which Stupid Millionaire Lost a Fortune Betting on Mitt Romney?
J.K. Trotter · 09/24/13 10:37AMJacob Fischler at BuzzFeed reports that in the autumn of 2012, a single (unknown) millionaire staked, and lost, “at least $4 million” on Mitt Romney trouncing Barack Obama on November 6. Fischler cites a working paper by Microsoft’s David Rothschild and Columbia’s Rajiv Sethi, who studied trading patterns on the now-illegal InTrade.com, which allowed armchair speculators to bet on almost anything.