why in videos of stock traders at the stock exchange on Wall Street (especially in the 90s and such) are all of the guys shouting and clamoring? Are they putting in trades that way?
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Yes!
As weird as it sounds there was a specific set of signals and rules for brokers and sellers trying to get trades in. And trades were made quite efficiently.
You might be thinking – “How can this possibly be enforced. Whoever lost out by the end of the day would just renege and how the hell would anyone even know” , but think of a casino. There are cameras, and the risk of cheating far outweighs the benefit especially when it’s your company’s money not yours. Self interest, not honesty, kept the machine running.
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