A Fascinating 1981 Documentary On Pit Traders

I ran across this YouTube video from an old news series on “being a commodities trader”….

What a lot of fun to see the open outcry pits in action and to see how they portray the “crazy gamblers” they interviewed.

How things have changed…

From a dirty, smelly, loud analog human interactive experience, we now find ourselves in a trading environment where the only sound at the exchanges are the fans cooling the endless racks of servers.

And the risk?

Contrary to what most seem to think, in my experience…

Risk has never been smaller or easier to control.

Can you imagine what we could have done in the live pits with the tools and tactics available to everybody in the trading/investing world these days?