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One minute it's easy to make money, the next 99% are losing 
Maverick trader: Was what he said actually right?
By Julian Joyce BBC News
Alessio Rastani predicted that the savings of many would be wiped out
Financial trader Alessio Rastani raised eyebrows after making extraordinarily candid remarks about his feelings on the financial crisis. But are his views commonly held?
Rastani, who describes himself as "an experienced stock market and forex trader and professional speaker" told viewers he had been looking forward to a recession in order to profit from it.
"I dream of another moment like this," said Rastani, adding: "Anybody can actually make money. It's an opportunity."
More revelations included the apparently widespread conviction in the City that the euro was doomed, that any rescue plan by European governments was "toast" and that it was financial institutions like Goldman Sachs - rather than elected governments - who "ruled the world".
And he issued a grim warning of a coming financial meltdown that would strip millions of their savings.
But how much of this should we take seriously?
Geraint Anderson, a former City analyst, "Cityboy" columnist, and author of Just Business, gives his take, as does Julia Finch, business editor of the Guardian and Observer newspapers.
Rastani said: "I dream of a recession"
Rastani's assertion that it was possible for savvy traders like himself to make money out of a falling market was the quote many news outlets chose to headline their accounts of his interview.
Geraint Anderson is a former City analyst, newspaper columnist and author of a new novel Just Business. He has written widely on City culture.
However, in asserting that one person's pain was another's gain Rastani was merely being "unusually honest," says Anderson.
"The city is full of ruthless, clever people whose only ambition is to line their pockets with no idea of the negative implications for other people.
"My only surprise about what he said was that he broke the unspoken consensus in the City not to talk about it so frankly."
Finch also admits that Rastani's view may be shared by others in the City.
"Umbrella sellers pray for rain. Ice cream sellers pray for hot weather.
"Some City traders will be praying for a recession, but only those who have no regard for the wider world around them".
Rastani said: "The big funds don't buy the euro rescue plan"
Rastani suggested big City firms had no faith in the the efforts of European leaders to provide long term stability for the single currency.
Anderson says: "This is a brash assertion. If the big funds really did believe that they would be investing a lot more in cash and bonds."
And Finch says it is not absolutely clear what form the euro rescue plan will take. "There's certainly not one that the German government will accept," she says.
"But there does seem to be increased hope that there will be agreement. The next six weeks, up to the G20 meeting in Cannes, will be vital."
Rastani said: "The euro is going to crash"
Rastani said the City had already given up on the euro, despite continuing efforts to implement a rescue plan for Greece, the economy at the heart of the problems.
But, says Anderson: "If everyone in the City did believe the euro is doomed, then it would now be 10-20% lower against other world currencies."
Finch suggests the euro project is being tested to its very limits, but every possible effort will be made to ensure its future.
"If the euro falls apart the repercussions in Europe and beyond will be vast."
Rastani said: "Anybody can make money from a recession"
Even if shares are in free-fall, said Mr Rastani, it is possible for canny investors to make a killing - as some did in the Great Depression of the 1930s.
Anderson says: "Yes, it is possible to make money in a recession - but generally only if you have cash up front.
"You can use spread betting, you can invest in things like gold, you can sell short. But you need a lot of cash, and I would say 99% of people lose money in a recession."
Finch agrees - up to a point. "There will always be opportunities to make money in a recession. The seeds of fortunes are often sown in economic hard times.
"But try telling a family with a mortgage and children who find themselves out of work that 'anybody can make money from a recession'. Try telling the near one million young people without work or training."
Rastani said: "The savings of millions of people is going to vanish"
Rastani painted a bleak picture of banks failing - taking people's life savings with them - as a recession took hold.
Anderson says: "This is scaremongering, doom-mongering nonsense.
"Even if the banks were to collapse, the government still guarantees people's savings up to a certain amount."
The UK government currently guarantees up to £85,000 of personal savings.
"And considering the average British person has less than £8,000 saved in an individual savings account, people are hardly going to be wiped out if there is a crash," Anderson notes.
Finch says: "Even in the 2008 crisis, when Icelandic banks were collapsing, there were no losses as the UK government stepped in to make sure people's savings were safe."
Rastani said: "Governments don't rule the world, Goldman Sachs rules the world"
Rastani underlined the power of international financial institutions to control global markets, and painted a picture of nation-states powerless to affect the flow of capital across their borders.
Anderson says: "This is very simplistic. It's not just Goldman Sachs who affects the market. Ben Bernanke [chairman of the US Federal Reserve] affects the markets when he sets US interest rates. The Chinese economy affects the market, as does global instability
"However, there is the classic phrase 'you cannot buck the market' and it is true to say that governments can be shown to be relatively powerless if they try and take on the financial institutions - as the UK did in 1992 with its failed attempt to stay in the European Exchange Mechanism.
"I would say there are lots of pieces of the puzzle that make up the global market. Some are bigger than others, but they all have a role."
But many commentators have noted the power of some of the big finance houses.
"Goldman Sachs has probably been allowed to have too much influence in the past, with many of its former top bankers once in the highest echelons of the US Treasury and administration," says Finch.
"But there's too much conspiracy theory about Goldman Sachs".
Maverick trader: Was what he said actually right?
By Julian Joyce BBC News
Alessio Rastani predicted that the savings of many would be wiped out
Financial trader Alessio Rastani raised eyebrows after making extraordinarily candid remarks about his feelings on the financial crisis. But are his views commonly held?
Rastani, who describes himself as "an experienced stock market and forex trader and professional speaker" told viewers he had been looking forward to a recession in order to profit from it.
"I dream of another moment like this," said Rastani, adding: "Anybody can actually make money. It's an opportunity."
More revelations included the apparently widespread conviction in the City that the euro was doomed, that any rescue plan by European governments was "toast" and that it was financial institutions like Goldman Sachs - rather than elected governments - who "ruled the world".
And he issued a grim warning of a coming financial meltdown that would strip millions of their savings.
But how much of this should we take seriously?
Geraint Anderson, a former City analyst, "Cityboy" columnist, and author of Just Business, gives his take, as does Julia Finch, business editor of the Guardian and Observer newspapers.
Rastani said: "I dream of a recession"
Rastani's assertion that it was possible for savvy traders like himself to make money out of a falling market was the quote many news outlets chose to headline their accounts of his interview.
Geraint Anderson is a former City analyst, newspaper columnist and author of a new novel Just Business. He has written widely on City culture.
However, in asserting that one person's pain was another's gain Rastani was merely being "unusually honest," says Anderson.
"The city is full of ruthless, clever people whose only ambition is to line their pockets with no idea of the negative implications for other people.
"My only surprise about what he said was that he broke the unspoken consensus in the City not to talk about it so frankly."
Finch also admits that Rastani's view may be shared by others in the City.
"Umbrella sellers pray for rain. Ice cream sellers pray for hot weather.
"Some City traders will be praying for a recession, but only those who have no regard for the wider world around them".
Rastani said: "The big funds don't buy the euro rescue plan"
Rastani suggested big City firms had no faith in the the efforts of European leaders to provide long term stability for the single currency.
Anderson says: "This is a brash assertion. If the big funds really did believe that they would be investing a lot more in cash and bonds."
And Finch says it is not absolutely clear what form the euro rescue plan will take. "There's certainly not one that the German government will accept," she says.
"But there does seem to be increased hope that there will be agreement. The next six weeks, up to the G20 meeting in Cannes, will be vital."
Rastani said: "The euro is going to crash"
Rastani said the City had already given up on the euro, despite continuing efforts to implement a rescue plan for Greece, the economy at the heart of the problems.
But, says Anderson: "If everyone in the City did believe the euro is doomed, then it would now be 10-20% lower against other world currencies."
Finch suggests the euro project is being tested to its very limits, but every possible effort will be made to ensure its future.
"If the euro falls apart the repercussions in Europe and beyond will be vast."
Rastani said: "Anybody can make money from a recession"
Even if shares are in free-fall, said Mr Rastani, it is possible for canny investors to make a killing - as some did in the Great Depression of the 1930s.
Anderson says: "Yes, it is possible to make money in a recession - but generally only if you have cash up front.
"You can use spread betting, you can invest in things like gold, you can sell short. But you need a lot of cash, and I would say 99% of people lose money in a recession."
Finch agrees - up to a point. "There will always be opportunities to make money in a recession. The seeds of fortunes are often sown in economic hard times.
"But try telling a family with a mortgage and children who find themselves out of work that 'anybody can make money from a recession'. Try telling the near one million young people without work or training."
Rastani said: "The savings of millions of people is going to vanish"
Rastani painted a bleak picture of banks failing - taking people's life savings with them - as a recession took hold.
Anderson says: "This is scaremongering, doom-mongering nonsense.
"Even if the banks were to collapse, the government still guarantees people's savings up to a certain amount."
The UK government currently guarantees up to £85,000 of personal savings.
"And considering the average British person has less than £8,000 saved in an individual savings account, people are hardly going to be wiped out if there is a crash," Anderson notes.
Finch says: "Even in the 2008 crisis, when Icelandic banks were collapsing, there were no losses as the UK government stepped in to make sure people's savings were safe."
Rastani said: "Governments don't rule the world, Goldman Sachs rules the world"
Rastani underlined the power of international financial institutions to control global markets, and painted a picture of nation-states powerless to affect the flow of capital across their borders.
Anderson says: "This is very simplistic. It's not just Goldman Sachs who affects the market. Ben Bernanke [chairman of the US Federal Reserve] affects the markets when he sets US interest rates. The Chinese economy affects the market, as does global instability
"However, there is the classic phrase 'you cannot buck the market' and it is true to say that governments can be shown to be relatively powerless if they try and take on the financial institutions - as the UK did in 1992 with its failed attempt to stay in the European Exchange Mechanism.
"I would say there are lots of pieces of the puzzle that make up the global market. Some are bigger than others, but they all have a role."
But many commentators have noted the power of some of the big finance houses.
"Goldman Sachs has probably been allowed to have too much influence in the past, with many of its former top bankers once in the highest echelons of the US Treasury and administration," says Finch.
"But there's too much conspiracy theory about Goldman Sachs".
Show More
It was pure comedy that interview - where did the BBC get him from?
rumour is that it was a hoax
rumour is that it was a hoax
.
http://www.dailymail.co.uk/news/article-2042717/Alessio-Rastani-How-did-BBC-mistake-day-trader-Master-Universe.html
How did the BBC mistake 'hobby' trader who lives in a pebbledash semi for a Master of the Universe?
He shocked viewers with claim that City doesn't 'care whether they’re going to fix the economy, our job is to make money from it'
Twitter users claimed Alessio Rastani was member of 'Yes Men' hoaxers
By Hugo Gye
Last updated at 2:30 PM on 28th September 2011
The 'trader' at the centre of a controversial interview, in which he claimed the City just 'loves' an economic disaster, has admitted that trading is just a 'hobby'.
Far from being a City hotshot, Alessio Rastani has admitted to being an 'attention seeker' who lives in a £200,000 semi-detached house owned by his girlfriend.
And despite his brash demeanour, there is precious little evidence that the 34-year-old has ever been employed in a senior post for a bank or stockbroking firm.
Rumours that the self-styled 'leading trader' was a member of the 'Yes Men' hoaxers have been shown to be untrue - but if not a hoaxer, Mr Rastani certainly seems to be a chancer.
Scroll down for video
Controversial: Trader Alessio Rastani said City workers 'don't really care' about the health of the economy
Controversial: Trader Alessio Rastani said City workers 'don't really care' about the health of the economy
Unimpressive: This is the £200,000 semi where Mr Rastani lives with his girlfriend, who owns the house
Pebble-dash suburbia: This is the £200,000 semi where Mr Rastani lives with his girlfriend, who owns the house
Alessio Rastani
Alessio Rastani
'Hobby': The part-time trader, pictured near his home in south London yesterday, but was reluctant to talk to the Press despite his brash talk on BBC News
In an interview with Forbes, he appeared baffled by technical finance terms, despite saying: 'Trading is basically an obsession of mine.'
And questions have arisen over how this inexperienced 'expert' came to appear on the BBC, which continues to insist: 'He is an independent market trader and one of a range of voices we’ve had on air to talk about the recession.'
Interviewers were left open-mouthed when Mr Rastani claimed that traders 'don't really care that much' about the prospect of an economic collapse.
He astonished BBC viewers on Monday by describing his hopes of profiting from a recession, adding: 'The governments don't rule the world - Goldman Sachs rules the world.'
The 'independent trader' - also claimed he had been 'dreaming of this moment for three years', as the global economy faces continuing uncertainty.
Is he a fake? Self-styled 'independent trader' Alessio Rastani has been accused of impersonating a city trader by Twitter sceptics
Is he a fake? Self-styled 'independent trader' Alessio Rastani has been accused of impersonating a city trader by Twitter sceptics
Self-styled 'independent trader' Alessio Rastani has been accused of being an imposter
Looking the part: Mr Rastani looks every inch the trader in this picture he posted on his Facebook profile
Looking the part: Mr Rastani looks every inch the trader in this picture he posted on his Facebook profile
Sceptics quickly took to Twitter to claim that Mr Rastani was merely impersonating a city trader and was even a member of political hoaxers the Yes Men.
One user said: 'It doesn't matter if it was Alessio Rastani or The Yes Men. What he said reflects how traders really think.'
In an interview on BBC News, Mr Rastani predicted: 'The market is toast.'
But when presenter Martine Croxall asked him what the solution was, he admitted: 'For most traders, we don't really care that much how they're going to fix the economy, how they're going to fix the whole situation.
'Our job is to make money from it.'
What a pro: Mr Rastani in a picture posted on his public Facebook profile... but he has been accused of being a member of a group of political hoaxers
What a pro: Mr Rastani in a picture posted on his public Facebook profile, but there is little evidence that he has ever been employed in a senior post for a bank or stockbroking firm
Aghast: The BBC presenters were astonished at Mr Rastani's extraordinary outburst
Aghast: BBC presenter Martine Croxall turns in astonishment to her co-host after Mr Rastani's extraordinary outburst
He added: 'I have a confession - I go to bed every night and I dream of another recession, I dream of another moment like this.'
His comments came on a day of turmoil in the Stock Market, with major indices going up and down throughout the day.
Shocked Ms Croxall replied that 'jaws have just collectively dropped' at the trader's comments.
'We appreciate your candour,' she added, 'however, it doesn't help the rest of us, does it?'
But Mr Rastani insisted that 'anybody' can profit from a catastrophic crash with the right 'hedging strategies', and drew parallels with the 1930s' Depression.
He concluded: 'The economic crisis is like a cancer. If you just wait and wait, thinking this is going to go away, just like a cancer it's going to grow and it's going to be too late.'
The presenters were almost dumbstruck at the end of the interview, as Ms Croxall's co-host asked her: 'Do you dream about the economy at night?'
'I try not to,' she replied. 'Nightmare.'
Europe in turmoil: But Mr Rastani says traders are unconcerned by the economic situation which is causing riots in Greece, pictured
Europe in turmoil: But Mr Rastani says traders are unconcerned by the economic situation which is causing riots in Greece, pictured
THE TRADER NOT CURRENTLY EMPLOYED BY A BANK OR FUND
Alessio Rastani describes himself as 'an experienced stock market and forex trader and professional speaker'.
He is not currently employed by a bank or fund manager, and his website is seemingly dedicated to his public speaking.
The website also contains enthusiastic testimony from people who claim to have been inspired by Mr Rastani.
A comment from Arthur Rafique reads: 'I consider him as the best mentor, very supportive personality and above all a good human being. I would recommend him to others.'
Despite his brash persona, a post on his website explains in more reasonable terms how he intends to profit from a market crash.
He says he hopes to exploit volatility in a fast-changing market to latch on to lucrative trends.
Meanwhile the BBC said it had carried out 'detailed investigations' into allegations it was the victim of a hoax.
The corporation launched the investigation shortly after rumours appeared on the internet claiming Rastani had hoaxed interviewers and that he was linked with the political Yes Men group - who claim to impersonate 'big-time criminals in order to publicly humiliate them'.
A member of the group has in the past appeared on the BBC as a spokesman for Dow Chemical and was interviewed at length about the 1984 Bhopal gas tragedy.
A BBC spokesman said: 'We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax.
'He is an independent market trader and one of a range of voices we've had on air to talk about the recession.'
Speaking to the Telegraph, Mr Rastani admitted trading was 'not a business' for him, adding: 'I am a talker. I talk a lot. I love the whole idea of public speaking.'
However, he stood by the message he delivered on the BBC as he said: 'I agreed to go on because I'm an attention seeker. But I meant every word I said.'
The Mail yesterday tracked him down to a pebble-dashed £200,000 semi-detached house in Bexleyheath owned by his American girlfriend Anita Eader, 35. And far from owning the stockbroker’s usual sports car or Bentley, neighbours said he did not own a car at all.
Company records show that he is currently involved in just one business – a company he established with Miss Eader which seems to have made a £14,000 loss last year.
And rather than describing himself as a trader on the records, Mr Rastani declares he is an ‘investment speaker’.
Motivational: Mr Rastani's website is full of pictures of his speaking engagements, but provides little information about his own trading experience
Motivational: Mr Rastani's website is full of pictures of his speaking engagements, but provides little information about his own trading experience
His supreme arrogance of Monday appeared to have evaporated by yesterday – he was in apparent hiding in his house, refusing to answer the Mail’s knock on his door, and failing to respond to telephone messages or notes through his letterbox.
His business website ‘Leading Trader’, meanwhile, which features numerous pictures of himself, seems to focus more on his public speaking than on the Stock Market and foreign exchange dealing of which he claims to have vast experience.
And as numerous Twitter users have pointed out, any skilled trader would earn vastly more money by trading than by talking about it.
Prior to establishing the company he runs with his girlfriend, Mr Rastani, who was born in Britain, had previously been a director of three dissolved companies.
Tellingly, one of these failed firms was registered under the name ‘Titanic Enterprises Ltd’. It was dissolved two years ago.
It is possible that Mr Rastani appeared on television in an attempt to attract people willing to pay to learn to be traders. He said during his brief interview that ‘anybody’ could profit from a recession, claiming numerous millionaires had been created in the 1930s' Depression.
His outburst drew a mixed reaction from viewers. His Facebook page was flooded with people asking for investment advice, but not all internet users were so complimentary.
One Twitter user described him as 'jaw-droppingly amoral', while ex-trader Jack Gavigan wrote: 'If Alessio Rastani is such a great trader, why does he spend time teaching people instead of, y'know, actually trading?'
However, one Stock Market expert, writer Guy Cohen, leapt to his defence.
Describing Mr Rastani as one of his students, Mr Cohen said: ‘I don’t think he’s a heartless guy – he’s said something and had no idea what the fall-out would be. It’s a bit of foot in mouth that’s got him into trouble.’
http://www.dailymail.co.uk/news/article-2042717/Alessio-Rastani-How-did-BBC-mistake-day-trader-Master-Universe.html
How did the BBC mistake 'hobby' trader who lives in a pebbledash semi for a Master of the Universe?
He shocked viewers with claim that City doesn't 'care whether they’re going to fix the economy, our job is to make money from it'
Twitter users claimed Alessio Rastani was member of 'Yes Men' hoaxers
By Hugo Gye
Last updated at 2:30 PM on 28th September 2011
The 'trader' at the centre of a controversial interview, in which he claimed the City just 'loves' an economic disaster, has admitted that trading is just a 'hobby'.
Far from being a City hotshot, Alessio Rastani has admitted to being an 'attention seeker' who lives in a £200,000 semi-detached house owned by his girlfriend.
And despite his brash demeanour, there is precious little evidence that the 34-year-old has ever been employed in a senior post for a bank or stockbroking firm.
Rumours that the self-styled 'leading trader' was a member of the 'Yes Men' hoaxers have been shown to be untrue - but if not a hoaxer, Mr Rastani certainly seems to be a chancer.
Scroll down for video
Controversial: Trader Alessio Rastani said City workers 'don't really care' about the health of the economy
Controversial: Trader Alessio Rastani said City workers 'don't really care' about the health of the economy
Unimpressive: This is the £200,000 semi where Mr Rastani lives with his girlfriend, who owns the house
Pebble-dash suburbia: This is the £200,000 semi where Mr Rastani lives with his girlfriend, who owns the house
Alessio Rastani
Alessio Rastani
'Hobby': The part-time trader, pictured near his home in south London yesterday, but was reluctant to talk to the Press despite his brash talk on BBC News
In an interview with Forbes, he appeared baffled by technical finance terms, despite saying: 'Trading is basically an obsession of mine.'
And questions have arisen over how this inexperienced 'expert' came to appear on the BBC, which continues to insist: 'He is an independent market trader and one of a range of voices we’ve had on air to talk about the recession.'
Interviewers were left open-mouthed when Mr Rastani claimed that traders 'don't really care that much' about the prospect of an economic collapse.
He astonished BBC viewers on Monday by describing his hopes of profiting from a recession, adding: 'The governments don't rule the world - Goldman Sachs rules the world.'
The 'independent trader' - also claimed he had been 'dreaming of this moment for three years', as the global economy faces continuing uncertainty.
Is he a fake? Self-styled 'independent trader' Alessio Rastani has been accused of impersonating a city trader by Twitter sceptics
Is he a fake? Self-styled 'independent trader' Alessio Rastani has been accused of impersonating a city trader by Twitter sceptics
Self-styled 'independent trader' Alessio Rastani has been accused of being an imposter
Looking the part: Mr Rastani looks every inch the trader in this picture he posted on his Facebook profile
Looking the part: Mr Rastani looks every inch the trader in this picture he posted on his Facebook profile
Sceptics quickly took to Twitter to claim that Mr Rastani was merely impersonating a city trader and was even a member of political hoaxers the Yes Men.
One user said: 'It doesn't matter if it was Alessio Rastani or The Yes Men. What he said reflects how traders really think.'
In an interview on BBC News, Mr Rastani predicted: 'The market is toast.'
But when presenter Martine Croxall asked him what the solution was, he admitted: 'For most traders, we don't really care that much how they're going to fix the economy, how they're going to fix the whole situation.
'Our job is to make money from it.'
What a pro: Mr Rastani in a picture posted on his public Facebook profile... but he has been accused of being a member of a group of political hoaxers
What a pro: Mr Rastani in a picture posted on his public Facebook profile, but there is little evidence that he has ever been employed in a senior post for a bank or stockbroking firm
Aghast: The BBC presenters were astonished at Mr Rastani's extraordinary outburst
Aghast: BBC presenter Martine Croxall turns in astonishment to her co-host after Mr Rastani's extraordinary outburst
He added: 'I have a confession - I go to bed every night and I dream of another recession, I dream of another moment like this.'
His comments came on a day of turmoil in the Stock Market, with major indices going up and down throughout the day.
Shocked Ms Croxall replied that 'jaws have just collectively dropped' at the trader's comments.
'We appreciate your candour,' she added, 'however, it doesn't help the rest of us, does it?'
But Mr Rastani insisted that 'anybody' can profit from a catastrophic crash with the right 'hedging strategies', and drew parallels with the 1930s' Depression.
He concluded: 'The economic crisis is like a cancer. If you just wait and wait, thinking this is going to go away, just like a cancer it's going to grow and it's going to be too late.'
The presenters were almost dumbstruck at the end of the interview, as Ms Croxall's co-host asked her: 'Do you dream about the economy at night?'
'I try not to,' she replied. 'Nightmare.'
Europe in turmoil: But Mr Rastani says traders are unconcerned by the economic situation which is causing riots in Greece, pictured
Europe in turmoil: But Mr Rastani says traders are unconcerned by the economic situation which is causing riots in Greece, pictured
THE TRADER NOT CURRENTLY EMPLOYED BY A BANK OR FUND
Alessio Rastani describes himself as 'an experienced stock market and forex trader and professional speaker'.
He is not currently employed by a bank or fund manager, and his website is seemingly dedicated to his public speaking.
The website also contains enthusiastic testimony from people who claim to have been inspired by Mr Rastani.
A comment from Arthur Rafique reads: 'I consider him as the best mentor, very supportive personality and above all a good human being. I would recommend him to others.'
Despite his brash persona, a post on his website explains in more reasonable terms how he intends to profit from a market crash.
He says he hopes to exploit volatility in a fast-changing market to latch on to lucrative trends.
Meanwhile the BBC said it had carried out 'detailed investigations' into allegations it was the victim of a hoax.
The corporation launched the investigation shortly after rumours appeared on the internet claiming Rastani had hoaxed interviewers and that he was linked with the political Yes Men group - who claim to impersonate 'big-time criminals in order to publicly humiliate them'.
A member of the group has in the past appeared on the BBC as a spokesman for Dow Chemical and was interviewed at length about the 1984 Bhopal gas tragedy.
A BBC spokesman said: 'We've carried out detailed investigations and can't find any evidence to suggest that the interview with Alessio Rastani was a hoax.
'He is an independent market trader and one of a range of voices we've had on air to talk about the recession.'
Speaking to the Telegraph, Mr Rastani admitted trading was 'not a business' for him, adding: 'I am a talker. I talk a lot. I love the whole idea of public speaking.'
However, he stood by the message he delivered on the BBC as he said: 'I agreed to go on because I'm an attention seeker. But I meant every word I said.'
The Mail yesterday tracked him down to a pebble-dashed £200,000 semi-detached house in Bexleyheath owned by his American girlfriend Anita Eader, 35. And far from owning the stockbroker’s usual sports car or Bentley, neighbours said he did not own a car at all.
Company records show that he is currently involved in just one business – a company he established with Miss Eader which seems to have made a £14,000 loss last year.
And rather than describing himself as a trader on the records, Mr Rastani declares he is an ‘investment speaker’.
Motivational: Mr Rastani's website is full of pictures of his speaking engagements, but provides little information about his own trading experience
Motivational: Mr Rastani's website is full of pictures of his speaking engagements, but provides little information about his own trading experience
His supreme arrogance of Monday appeared to have evaporated by yesterday – he was in apparent hiding in his house, refusing to answer the Mail’s knock on his door, and failing to respond to telephone messages or notes through his letterbox.
His business website ‘Leading Trader’, meanwhile, which features numerous pictures of himself, seems to focus more on his public speaking than on the Stock Market and foreign exchange dealing of which he claims to have vast experience.
And as numerous Twitter users have pointed out, any skilled trader would earn vastly more money by trading than by talking about it.
Prior to establishing the company he runs with his girlfriend, Mr Rastani, who was born in Britain, had previously been a director of three dissolved companies.
Tellingly, one of these failed firms was registered under the name ‘Titanic Enterprises Ltd’. It was dissolved two years ago.
It is possible that Mr Rastani appeared on television in an attempt to attract people willing to pay to learn to be traders. He said during his brief interview that ‘anybody’ could profit from a recession, claiming numerous millionaires had been created in the 1930s' Depression.
His outburst drew a mixed reaction from viewers. His Facebook page was flooded with people asking for investment advice, but not all internet users were so complimentary.
One Twitter user described him as 'jaw-droppingly amoral', while ex-trader Jack Gavigan wrote: 'If Alessio Rastani is such a great trader, why does he spend time teaching people instead of, y'know, actually trading?'
However, one Stock Market expert, writer Guy Cohen, leapt to his defence.
Describing Mr Rastani as one of his students, Mr Cohen said: ‘I don’t think he’s a heartless guy – he’s said something and had no idea what the fall-out would be. It’s a bit of foot in mouth that’s got him into trouble.’
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