The Typo That Changed The Course of History - Finance and Markets

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The story:

Typos. They happen every day. They’re easy to make, especially in a world run by digital devices. I rely a lot on autocorrect and spellcheck software, and I still publish lots of mistakes. Think about all the funny memes you’ve seen about texting errors. Typos are ubiquitous in the modern world. And usually, they don’t have much effect other than slowing readers down because they are easy to spot.

But what if not all typos were that innocent? What if I told you a typographical error brought down an entire government?

You see, the intended plan was to standardize the Quran and offer it free to all citizens. The problem was laziness. The “official” version included many misprinted verses and even left out a few.

Soon enough, the errors were found out and caused quite an uproar among the people of Kuwait. The feud between opposing members of government was so bitter one side accused the other of intentionally misprinting the copies to gain control.

Much of the ire was focused on the Minister for Islamic Affairs, a man named Ahmad al-Kulaib. It wouldn’t be long before a vote of no confidence ousted the man from his office, but that wasn’t enough. Eventually, the Emir of Kuwait was forced to dissolve the national assembly and form a new ruling body.

The takeaway:

It pays to pay attention to details, especially when it comes to placing orders. For investors, this means taking the time to do your due diligence and not making mistakes with order inputs. It’s not hard to enter the wrong ticker symbol, the wrong number of shares, or even the wrong price limit. Any of these mistakes could wipe you out in the blink of an eye. Remember, successful investing is as much about protecting capital as it about posting those significant gains.

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