Paul Jones' broker experience

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BARLI
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Paul Jones' broker experience

Post by BARLI »

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?
BARLI
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Post by BARLI »

Red Rock might know? :wink:
RedRock
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Post 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.
BARLI
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Post by BARLI »

thanks RR!What does it take to become a floor broker? Should the one work through the brokerage firm? Is it same with LME?
RedRock
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Post by RedRock »

It used to be about who you knew. :wink:


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

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
Spectre
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Post by Spectre »

Which brokers are the largest retail brokers?
RedRock
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Post 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.
geek2908
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Post by geek2908 »

Lind-Waldock still operates but is owned by Man
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