*but in highly leveraged FX markets even 1% can wipe people out* The CHF spike *...

moksha256 · on Jan 17, 2015

To clarify, the CHF spiked in value. People who lost had bet against it.

moe · on Jan 17, 2015

Apologies, you are of course correct. Round here it is referred to as "EUR drop" (relative to CHF) and I mixed that up. (I fixed this in the original comment)

malka · on Jan 17, 2015

People who bet against it were careless.

The money was under evaluated by the BNS for years. This was bound to happen.