The "six to eight years of pain" that Tudor talked about are what is going to happen now. He was early. 1987 was only the first push of the great bull movement.
It is interesting to note that he was a welterweight boxing champ in college and grew up hunting and fishing in the Arkansas delta.
That was good to watch. Not many videos out there that show an actual trader using an old fashioned landline telephone calling in orders. How well i remember those days, standing almost all day and trading in and out the grains, SP500, meats and many others. PTJ was big enough to have a direct line to the pit where someone manned HIS phones. As a small fry retail trader back then you had to wait until someone answered the phone, give them acct number, etc, etc and then be lucky if you could get the guy/gal to report a fill back to you before they hung up, lots of luck. Unless you used market orders you had to wait until they CALLED YOU BACK with a fill report. OHH, JOY!!!! That tape from PBS is good to show how much a computer for order entry is so valuable these days. Thats where a computer helped change the game for retail traders, it helped us a lot on the mechanical aspect of entering orders but not much else. Today the same amount blow out as back then. That in itself says humans are still making the same mistakes they always have been...........grant it........... a computer just reduces the pain because you lose your money faster. :eek: PS: i would be out chasing all the 21 year old chicks ( ) but F1 comes on at 1500est on FOX. In qualifying yesterday a spring broke off barricalo's brawn and hit Massa in the helmut , knocked him silly and crashed. Looks like Massa was ok. They actually caught on video the spring coming into massa, A spring is scary enough, then combine going probably maybe 140 mph. Hope he is fine and back in another Ferrari.
Good video, first time watching it. Can't believe they were making trades over telephone, which is painful to watch. Anyway, It was old.
I was impressed with the technology they did use back then. Did you catch him using the hand held wireless device with an antenna to check quotes? Pretty amazing that they were doing that back in 1986 before most folks even had a computer much less a hand held. I wonder if they also had the Quotron machine rigged up in the back of a limo like the Duke Brothers?