colorful chips

Discussion in 'Trading' started by qdz, Dec 11, 2002.

  1. qdz


    how many traders here know the history/source of the word "blue chip"? what are the other colorful chips that we call?


  2. Blue chips are the most valuable chips in the game of poker, hence the term.

    How it came to be that the most valuable stocks became known as blue chips - I have no idea.
  3. Poker chips are called "chips" because they used to be made of wood. In the game of poker, you have red chips (cheap ones), white chips (more expensive) and blue chips (the high valued ones).

    Companies considered to be "blue chip" stocks are named so because it is thought that these companies are of high value.

    It eventually got over to the other side of the atlantic about 50 years ago, but has been an American term for over 100.
  4. Hey Aphie! How's it going? Haven't seen you around lately. Hope all's well :)
  5. Programming, registering for classes, shopping (go long, I'm doing a lot of shopping), etc ...

    What have you been up to??
  6. Trading the hell out of the futures :)

    NQ's been better than the ES of late. Don't forget - tomorrow's rollover day to H3 in case Jasper needs to know
  7. rs7


    Since the market seems to be doing nothing at the moment, I will relate a "chip" story from when I was in Las Vegas.

    True story:

    A truck with "Las Vegas Chips" on the side was allegedly hijacked. The story was reported that the driver was overcome, forced to drive into the mountains and bound and gagged and stuff like that (exact details elude me...apologies to Max).

    So the hijackers get into the back of the truck to get at the chips, and lo and behold, they were potato chips!!

    But the story did not end there. As it later turned out, it was an inside job, and the whole "chips" thing was a ruse. It was really about robbing the cash that was collected by the driver. Who was part of the scam.

    Lots of scams in Vegas. But not many of them were that humorous. Almost funny one though (could have gone badly but didn't)....I remember when Steve Wynn's daughter Kevin (what kind of name is that for a girl?) was kidnapped. The kidnappers locked her in the trunk of a car and left her in there at the airport. She was unharmed and found after the ransom was paid.

    (Wynn went into the vault at the Mirage or Golden Nugget, or one of his other properties and got the ransom and paid it. Good to be the boss).

    Somehow, the authorities figured out very quickly who the perpetrator was. The guy was obsessed with Ferraris, and everyone knew it. The sheriffs office just contacted all the Ferrari dealerships in the country and notified them to look out for the suspect. The very next day the guy walks into a Ferrari dealership in LA with cash. End of story.

  8. Babak


    why didn't the schmoe go to their native habitat and buy one there (Italy)?

  9. THANKS! I can't believe its a new quarter already!! geeeesh!
  10. qdz


    Thanks for telling us the stories.

    #10     Dec 11, 2002