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Paul Jones' broker experience

Posted: Tue Jan 23, 2007 11:16 am
guys, in Market Wizards, Schwager said that Paul Jones accumulated 1mil$ in commissions during his first year when he was a broker on the floor of Cotton Exchange. I was wondering how could he do so good, espacially when he was working for another guy?

Posted: Tue Jan 30, 2007 4:40 pm
Red Rock might know? :wink:

Posted: Tue Jan 30, 2007 11:43 pm
by RedRock
I'm not sure Barli. Must have filled lots and lots and lots of big paper. And had a friendly relationship with his clients. Perhaps there were incentives for price improvements on discretion orders. Just guesses.

Posted: Wed Jan 31, 2007 2:53 am
thanks RR!What does it take to become a floor broker? Should the one work through the brokerage firm? Is it same with LME?

Posted: Wed Jan 31, 2007 12:17 pm
by RedRock
It used to be about who you knew. :wink:

I'm far from that cigar chomping world today... So, cant really help.

Posted: Wed Jan 31, 2007 2:47 pm
I cant remember who said that good old times of brokers who made money with big orders on the floor gone with time. Since lots of business is being done through ECBOT today in grains it seems to be true

Posted: Mon Apr 30, 2007 4:29 pm
by Spectre
Which brokers are the largest retail brokers?

Posted: Mon Apr 30, 2007 6:43 pm
by RedRock
Spectre wrote:Which brokers are the largest retail brokers?
Do you mean the remaining few steeds battling for the dying flow in the pits? or-

Do you mean "for the public in general" Not scientific but an observation. Man financial is large. Lind Waldock was a big player for years, epstine. PFG is a multi headed snake with many charmers. Refco. oops bought out by Man.

I feel the best E market broker is IB.
Interactive Brokers / Timber Hill Group, changed the game, in my opinion. They are about to go public in a google style IPO for those of you who dabble with such things.

Posted: Wed Jun 20, 2007 3:19 pm
by geek2908
Lind-Waldock still operates but is owned by Man