Discover how legendary traders such as Benjamin Hutchinson cornered the wheat market in the nineteenth century, and learn how other bold traders as well as lax regulations paved the way for twentieth–century debacles that continue to tarnish the reputation of the CBOT, the CME, and other related institutions and markets.
The history of the futures market, derivatives, and speculation is full of misunderstandings and false assumptions. Wheels of Fortune seeks to clarify these misconceptions by chronicling the events and individuals that brought scandal and skepticism into the markets, and exploring the laws and governing bodies that were established to rein them inbut lacked the power to do so.
Chapter 1 A Tale of the Pits 1
Chapter 2 Futures and ′Wild Jackasses′ 49
Chapter 3 The Great Bear Hunt 99
Chapter 4 Expanding the Menu 143
Chapter 5 Metals and Money 187
Chapter 6 Chicago Follies 243
Chapter 7 Rogues′ Gallery 297