Jump to ContentJump to Main Navigation
What I Learned Losing a Million Dollars$
Users without a subscription are not able to see the full content.

Jim Paul and Brendan Moynihan

Print publication date: 2013

Print ISBN-13: 9780231164689

Published to Columbia Scholarship Online: November 2015

DOI: 10.7312/columbia/9780231164689.001.0001

Show Summary Details

Wood That I Would Trade

Wood That I Would Trade

Chapter:
(p.32) 3 Wood That I Would Trade
Source:
What I Learned Losing a Million Dollars
Author(s):

Jim Paul

Brendan Moynihan

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231164689.003.0003

This chapter recounts how the author lost his job in his first company, and how he became an employee in Chicago Mercantile Exchange. After a year of working, the author met a customer who suggested to him to manage his finance using a different “trading system” from the one that the firm applied. The customer proposed that the author raise $30,000 and place it in an account. The customer would then trade the account, take no fees, and split profits and losses. Their trading system raised money for some time; but it soon began to experience some problems. The trader lost the original $30,000 and an additional $20,000. He decided not to pay the $20,000 owed to the firm. The company soon learned of this discrepancy, and fired the author. After some time, a friend invited the author to work in the Chicago Mercantile Exchange, where he became an Executive Committee member.

Keywords:   job, trading system, broker, profits

Columbia Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us .