Leeson quickly acquired a reputation as a hotshot trader. Even during his first few months at Singapore, he made profits for the bank. Asian stocks and currencies were in fashion, and they rose. In violation of Barings’ internal rules, Leeson traded using leverage,10 and he rode Asia’s rising wave of stock market appreciation. Success gave Leeson credibility with his managers and colleagues, and so his trades were not scrutinized the way they should have been.