Team Twistex was a competitive trading team of traders who participated in the 2007 World Series of Trading. They are primarily known for their involvement in the events surrounding the collapse of Bear Stearns. Their highly leveraged and risky trading strategies, particularly in mortgage-backed securities, resulted in significant losses. These losses ultimately contributed to the financial instability of Bear Stearns, leading to its near-failure and subsequent bailout and acquisition by JPMorgan Chase. The team's leader was reportedly Ralph Cioffi, and Matthew Tannin was another prominent member. The actions of Twistex and their managers sparked debate and investigation into the role of high-risk trading in the 2008 financial crisis.
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