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Article: Seeking fortunes in futures trading
- Article from:
- Chicago Sun-Times
- Article date:
- February 27, 1986
- Author:
CopyrightCopyright (null) Chicago Sun-Times. (Hide copyright information)
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A favorite story around the shop goes back to the 1970s and a
time when the soybean pit at the Chicago Board of Trade was the site
of the hottest trading in the world. Somebody at the Chicago
Sun-Times heard that one of the biggest commodities speculators on
the Board of Trade had gone bankrupt when the market went against
him.
A call was placed to the big swinger and the question put to
him. Was it true that he had filed as a bankrupt?
The gentleman was outraged. It was a silly rumor. "Why," he
said, "I only lost $7.5 million."
That's the way things can go around the Chicago futures (and
options) markets, where the risks are great and the rewards can cover
a loss of $7.5 million.
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