Word: trader
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...Nietzsche's influence on a Wall Street derivatives trader...
...Tyson Foods, who placed most of her commodity trades during her brief speculation with cattle futures in 1978-80. Blair, she explained, came to her with what she said was "a great opportunity to make money." Mrs. Clinton admitted that she relied heavily on Blair, an active commodities trader, when she turned a $1,000 investment into a $105,000 profit. "I relied primarily on his advice," she said, "because he really spent an enormous time studying the market." If Mrs. Clinton was worried about the perception of a sweetheart deal between herself and someone who represented the largest agribusiness...
There is a perilous impulse here to say, "Sure, if you say so." And not just outsiders are baffled by such impressively technical discourse. Older managers weren't taught this stuff. "The guy who heads your group, a head trader, he's never solved a quantitative problem before," says a 30-year-old Ph.D. at a leading brokerage house. "An important problem that could take you three weeks to solve properly, he'll want it done in two days. It's very difficult for a quant who thinks of himself as a Ph.D. from a top-notch school and comes...
...financial cyberspace, but it produces real victims. In Japan the accounting director of Nippon Steel Chemical leaped to his death beneath a train last May after he lost $128 million of the company's money by using derivatives to play the foreign-exchange market. In Chile a derivatives trader named Juan Pablo Davila lost $207 million of taxpayers' money last fall, instantly earning himself a place in Chilean infamy, by speculating in copper futures for the state-owned mining company. In Germany the giant conglomerate Metallgesellschaft dwarfed even those losses when it dropped $1.3 billion last year by betting...
...Chicago trader Peter Dunne, who works and sleeps to the sound of bond futures markets buzzing from Frankfurt to Tokyo, can attest to the global expansion of derivatives trading in the past four years alone. Dunne's working day has lengthened four hours over that stretch: he rises at 4:30 a.m. to get to the Chicago Board of Trade by 6 a.m. to begin the business of trading that can last until 9 p.m. The trading day for stocks and bonds has grown to marathon proportions as well. Sophia Ulanday, who sells U.S. stocks for Lehman Brothers in Hong...