Confessions Of A Market Maker Episode #103: Tom Sosnoff on Floor Trading, Being a Risk Taker & Options Methodology
Mar 9, 2023
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From Political Science To The Trading Floor
- Tom took a Wall Street job with no finance background and moved to Chicago at 23 after a floor visit fascinated him by the chaos.
- He fell in love with open outcry and immediately decided to pursue a risky trading career on the floor.
Learning The Floor's Language
- Tom spent months learning the floor's language, hand signals, and slang before finding a niche in the OEX pit.
- He survived by gravitating to a new product area where other newcomers clustered and made it his home for decades.
The Wild 1980s Floor Culture
- The 1980s floor culture mixed huge earnings, egos, and excess, where many blew out quickly and a few prospered big.
- Tom recalls friendships and wild times, including floor seats next to Michael Jordan and the absurd lifestyle of that era.