Recently, I joined Bloomberg’s Joe Weisenthal and Tracy Alloway on thier podcast, Odd Lots, to talk about Trading Places and the Turtles:
If you have any interest at all in finance, then it’s mandatory to have seen the 1983 movie “Trading Places.” You remember, right? Two wealthy Philadelphia commodity brokers bet on whether anyone, even down-and-out Eddie Murphy, can be trained to become a successful trader. What you might not realize is that something very similar happened in real life. In this week’s Odd Lots, we examine the amazing tale of the Turtle Traders. In 1983, successful commodities speculator Richard Dennis took out a full-page ad looking for novices to train in the art of trading. His novices — who did spectacularly well — studied for just a few weeks and were dubbed his “Turtles.” Joining us to tell the story is Michael Covel, who wrote a book on the Turtles, and Jerry Parker, a former Turtle who still trades using the same technique today.
Check it out here.