The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.
The truth is that once you get down on the trading floor, you find that the traders come from all walks of life. You don't have to be a rocket scientist to be a trader. In fact, some of the best traders whom I knew down on the floor were surf bums. Formal education didn't really seem to have much to do with a person's skill as a trader.
I loved working on Wall Street. I loved the meritocracy of it and the camaraderie of the trading floor.
If you look at the great frauds of all time, Enron had that phantom trading floor. What Herbalife has is it has phantom or fictitious customers.
Auctions are bizarre combinations of slave market, trading floor, theatre and burlesque... a lot of people are going to be making a lot of excuses or maintaining that they were never part of this.
or simply:
