@@ibrahimkante6022 but people had well developed social skills. That's the most important part. When something was up in those days you simply pick up the phone and talk to the other person to come to a solution. Now people text and email and need self help books on this very subject. How has the world changed for worse in such a short time. People need self help now on how to even begin a conversation with someone as everything is considered awkward these days!
Both of my parents met and worked on Wall Street. My mom said she would get 2 hours of sleep a night, and sometimes went days without rest at all. She said it was such a weird sleazy environment, and after growing up poor in the South it was a huge culture shock. She went to my dads lake house one year, and found out their boss was the neighbor. It was this weird transformation of being on the same level as a man who acted better than everyone else. She retired after 9/11, though, said it was too difficult for her to be in that area after seeing all the death.
I listened to a Podcast series about Nick Leeson, the rogue trader who brought down Barings Investment Bank in the 1990s. It was just terrifying how an initial serious mistake snowballed because he kept thinking he could get himself out of the mess, but he just kept digging a bigger and bigger hole. There was such a culture of bravado and risk taking and the Board of the bank just seemed to either to have no clue, or to be turning a blind eye as the money (on paper) kept coming in. No one was supervising him.
“Basically, we buy and sell currencies against the dollar”. That’s a basic definition to him? Is that even a real sentence or is he just putting words together? I like to keep things clear and straight to the point when I describe my job. “Basically, we deteriorate the well being of a mediating industry in an effort to improvise poorly developed produce. It’s simply complex”
They’re paying a set amount of dollars for a set amount of foreign currency, gambling that the foreign currency will soon be worth more. Then they sell it for the new price and get more dollars back than they started with. This is known as forex speculation. The reason they gotta be so fast is that currencies go up and down in value so quickly that missing an opportunity or selling at the wrong moment can evaporate your gains. For an example, imagine the British pound drops ten American cents in value. You buy ten thousand dollars’ worth of pounds. You just saved a thousand dollars. Then the pound goes up in value back to normal. You can now sell your pounds to somebody else for eleven thousand dollars. With the thousand dollar savings from earlier, you have now made two thousand dollars simply by moving money around.
@@salj.5459 Sometimes the company earns a profit, sometimes they lose. They hope their people win enough to bring in a decent amount over time. The reason they work for a company is because most individuals don't have the resources to buy and sell hundreds of millions of dollars of currency every day, so Banks and brokers hire talented traders to work for them
Would love a side-by side comparison video with someone who does todays equivalent of this line of work, explaining what they do & how things have changed
@@odanemcdonald9874 “Wall Street Trader” is still an occupation today, despite automation, humans are still at the helm. So I think it would be an interesting comparison nonetheless.
Its product dependent. For some products that are still a niche, OTC trading still dominates the scene, so its not far off what you see here. On some desks its actually way more manic than this.
The 1980 trader had just come out of 13 years of inflation wrangling, net zero gain in equities, a historical high in interest rates, and enormously volatile commodity markets. All of this data feeds into the exchange rates and these guys were seasoned. Data feeds, of course, were slower, but it required much greater awareness...and the market spans nonstop from early Monday morning Auckland to Friday 5pm Manhattan (though there are busy and quiet periods every day). These days it is largely electronic. Execution algos are designed by humans and only as good as their weakest link. Humans are also at the source of every large move and never far away from the trading room (despite it being MUCH quieter).
That reminds me of Seinfeld when they were firing Kramer from the company that had him working when they mistook him for an employee: Boss: I'm sorry but we have to let you go. Kramer: I don't even actually work here. Boss: That's what makes this so difficult.
1980's traders : "honestly I don't know what I'm doing, I just put money here and there based on vague gossip and hope I don't go bankrupt" 2020's trader : "me? Of course I am an entrepreneur, a life coach, entrepreneur, scientific American enthusiast, Blockchain enthusiast, bitcoin evangelist, inspirer, chief visionary, influencer 3 times TedX attender, a modern philosopher, activist, trendsetter, empowering and passionate project manage.
nah. nowadays we just have computers do it. no cocaine needed, no sleep needed, you don't need to pay them. no delays no useless eaters. no theft, and most of all. consistant, human error free trading. the fact alone that this guy thinks you need to 'follow the rate' already implies that he didn't figure out yet that you don't -need- to follow the rate. you just do the same thing. consistently. all the time. instantly. (humans can't do that ;) and eventually -any- order no matter how absurd and out of the line will close anyway. some just take a bit longer than others. so be it. as long as you always grab your fixed percentage, either up or down. 24/7. (see it more like he casino, from the casinos point of view ;) -these- high on coke human guys try to move the line out of the pattern -we- set. fine. they basically give their money to us. :P we just sit there with our orders on both sides of the current rate :P waiting for them to try to move it. lol. humans are soooo stupid :P as for absurd orders ending up at the upper or lower end of the usual spectrum, fine, even if it takes them 2 or 3 years to close and make their 5%-ish profit. still higher return on investment than let's say. buying a cruise line. it doesn't have to be 'optimized'. it just has to be consistent. and some stuff makes it's % in milliseconds and other stuff takes a couple of months to years. also fine. still higher return rate than anything else ay. on the whole and individually per order. what you don't want is humans. with primitive emotions, and drugged to stay awake, having anything to do with your trading.... as for 'phones'... how the fuck are you gonna place a couple of 1000 orders all over the place in a second over a phone. lol. thought trading by phone went out of fashion in grandpa's days. lol. place the orders and just go 'this is the price bitch. take it or leave it and if you don't take it, well then that's still the price a year from now' lol. none of that human fomo or fud crap.
you will ofcourse see a number of your orders ending up allll the way at the end at like 10% of what they should be but those -too- will -eventually- clear -one day-... the vast majority of your capital is simply generating it's profit time and time and time again and more than makes up for the part that is just sitting there at a 'significant' loss. (for now). and it's the roamed off profits over the volume you want. not even the original capital back, per-se. consistant, ingress cashflow. even if stuff ends up delisted. who gives a crap. by that time it's already made it's round at 5% or so profit 'more than 20 times' and as such made 100% (actually more, profit over profit ;) times and as such it's fine to have a 100% loss on the originating capital. main thing. consistency. not 'omg market conditions blah blah or read the news' shit humans do. WE define the price bitch. take it or leave it.
NO recovery happening ! Still NO livable wages of $24/Hour and up! NO 100% PPP viral mask 😷 available for all Americans + hardcore PPP social distancing of 7 feet or more ( circumference) around every American!!! Cost of living too high!!! UBI still not passed for $600/Week for life! Capitalism is dead!!!! Time for an egalitarian Highest Standard Of Living AND Happiness For All Society!!! Stock market is 100% a fraud!!!
I would like to thank this channel because every picture is a thousand words I've learnt more in the last few days of finding this channel then every rabbit hole I want down on RUclips, it's the light at the end of the tunnel, keep up the good work 👍
Thank you for your beautifully expressed comment. If your resources allow, I would sure appreciate your using the THANKS button under any of my videos including the one you have commented on. It is something new that RUclips is beta testing and would mean a great deal for my continuing efforts. David Hoffman filmmaker
@@DavidHoffmanFilmmaker such raw footage in all your videos, the more I think about the research thats gone into finding and presenting these videos it makes me appreciate them more, for every masterpiece you have to look though 100s of hours of bad videos and you need something that's going to capture and captivate your audience in the first 60s and to maintain the level of interest throughout and be honest to itself, amazing. Side note : thanks for reminding me to like the videos I was so busy sending the link to the "amazing story teller" I completely forgot, my brother and and brother in law thought it was amazing too, there is nothing better then an uninterrupted raw interview of a time past. Anyways thanks again 👍
Holy shit, the man himself hearted me haha! I'm only on this specific video because I am studying the stock market right now in school, but David's videos are as big of a go-to source for me as the library. His content is so simple yet direct, and I feel like I'm transported back to when I was a kid watching PBS documentaries whenever I watch one of his videos 😊
I once met a currency trader while playing poker. Most impatient man I've ever seen. If someone took more than a few seconds to make a decision he would become visibly annoyed. Later on he told me about his job and how the quotes he gives are only valid for 7 seconds. Explains a lot.
I worked at chickfila for 9 months in the kitcen on the corner of a major highway exit onto one of one of the busiest streets in Texas and this does not seem bad at all.
@ it was more racist though? It's ignorant to pretend it wasn't. Only 20 years before this MLK marched on Washington and y'all are acting like racism was gone because it's the 80s.
“Basically, what we do is buy and sell senseless options both to lose money and because it is funny. The key feature is memes, trying to figure out what is funny on r/wallstreetbets so we can anticipate and catch shitposts as they occur.”
I got a bachelor’s degree in Finance and work in the industry. Every one of the professors and friends I’ve talked to who worked on Wall Street made good money but burned out quickly and said it was a really terrible experience. One professor managed a fund for Goldman Sachs and was required to lay off a minimum percentage of his team every year just to keep everyone competitive. No thanks - at some point the extra money you could make just isn’t worth it.
I am not american, i have finance degree too and had work as broker just for 14 days. What you said is true and it's stressful, i quit because my blood pressure is rising again, note: i got HBP during college days because overproject. I rather do business😁.
John Doe Not all drugs can be easily laced. LSD, for example, is really hard to fake. About the only other psychoactive substance that is active in doses small enough to fit on a 1x1 cm blotter tab is NBOMe but even that is a much larger molecule and is easy to test for.
@@piccalillipit9211 there are different levels of intensity. Here you are making decisions by the second. With one wrong decision you can lose millions. From what videos I have seen in an Amazon warehouse the operatives just do robotlike work. Move the package as fast as you can and as many as you can. It’s monotonous and doesn’t require making important decisions.
"The most capitalistic thing i've ever seen" *_*Posted in a multimillionare digital service using a high technology device which was previously invested by many manufacturers, but he is surprised by a 40 years old situation_*
@@lieutenantdan2217 no wonder they got most of this online and DIY now, don't have to pay some intermediary 8% off the top of each transaction like that
Seems like a risky way to make money. But for some it just comes easy ...like my brother in law he just plays around with stocks almost casually and makes a good chunk most times. Fascinating look into a world that I know nothing about. Thank you David!
Not really risky, if you know how it works and learn to follow the bread crumbs, technically. Everything is timed and measured, especially these days with algos pushing most the volume. Still programmed by humans.
What do you mean? Well I buy money and I sell it. Buy it from who? Whoever wants to sell it. Sell it to who? Whoever wants to buy it. How do you do this? On the phone Couldn't make any more sense.
@bihbhkjbnlk Tell that to Christopher Hitchens. Dude pretty much lived on Johnnie Walker Black and cigarettes and remained as sharp as a knife to the day he died.
@@vaclavcervinka65 Easy to criticize 40 years later in the comfort of your phone. "Yeah, look, was bad and negative". Like people would have all the possibilities, but they decide to work in a negative place. Not, is not that easy.
Zach Reynolds this job guaranteed two things in those days: fucktons of stress and fucktons of coke to cope with the stress. I’d be amazed if even half of em are still around.
In the 80's I worked in a reservations center for Continental Airlines. Even now I've been told when I talk in my sleep I say things like "Will that be first class or coach?"
Exactly! “Hidey hidey haaaaa, my name tag, what’s my name! Aaaaahhhhh,” have we got anything about his name, I can’t find a name, AHHHHHH” Sponge Bob is the best, love those guys! RIP Steve Hillenburg ♥️
1:32 So they have a machine that sends paper across the room so the girl can grab it and walk to her desk where it started... That proves how much money they made!
But why though? Just to show other workers that a new paper was being prepared so they better get ready? Why not just have a light up buzzer where everyone can see it
Wow, things have changed today with Webull and Robinhood. I made a no commentary investing and trading channel, which technically would be great for an introvert.
If everyone at your job had a dedicated phone would you go pick your buddies phone up and lose money from your own calls as the woman suggests in the video
No one is actually on two phones. They are on two handsets attached to one turret. The turrets have a dial pad connected to the LOC, the Local Operating Company, which would be NYTel/Nynex/Verizon in this case. The array of buttons allow the trader to speak to a counterparty without dialing. The lines are point-to-point copper (or fiber). In this case the turrets are made by IPC (Interconnect Phone Company). Each point-to-point line has two ends but only one phone bill so in the case of Citicorp someone who wanted Citicorp as a counterparty would pay for the line. If the trader is too slow to respond to a blinking button (incoming call) his counterparty will look for someone else to take the other side of the trade and push another button on his turret. The news display on the wall is a TransLux (oldest stock on the American Stock Exchange). NNNN is EOM (End Of Message)
@@smitty1647 A childs idea of a soul is imaginary. When you hear something like "sell your soul" in regards to a profession, it isn't referring to some magical essence within you. You've never heard someone in the music industry talk about other artists "selling" their souls?
@@Amartin-mu6oj best be careful calling the theological concept of a soul a child's concept lol. but yes i'm familiar with metaphorical souls rather than magical ones like in that bible quote
Look people who are already rich getting richer by adding literally nothing of any material benefit to the world, and when ever they see any consequences what so ever for their gambling addictions the poor will foot the bill, wow such epic stonks
@Socio Cynical Doesn't even have to be advanced , there are people running trading bots on their personal laptops , using Trading View ... you just need a personal laptop, hi speed internet (business grade), and a web browser ... and you will probably be faster than the entire office.
@@Ettrix You won't be faster than the companies that literally are built next to the stock market and have a direct cable connection to it. You can never compete with the giants
I imagine it would feel like being transported to an alternative universe: Strange people and technology seemingly functioning with a purpose, yet no correlation to your own knowledge of existence.
It should be like, "these soul less monsters are trying to get paper by selling more paper so they can buy a boat and cocaine and then die of an overdose or from depression when they realize how fucking pointless everything they do is."
@@directorbeau Tyler's just joking. If people are wholesale copying their code off their internet, they're not good programmers. Google is necessary for figuring out how to do pieces of what you need to put together into a final product.
When I was a kid I thought this was all jobs outside of cops, firefighters and soldiers. I used to be so scared that one day Id have to get a job like this.
@@dont.ripfuller6587 "Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss." Not 100% the same. But since these people are basically "programmed" to automatically react + execute, based on conditions... and since they were in the business world... and since their actions led to buy/sell "contracts"
They are putting checks into money market mutual funds, then reinvest the earnings into foreign currency accounts with compounding interests - aaaaaand it‘s gone.
Please look at this scene that I filmed on Wall Street - ruclips.net/video/QbbW8SO08XQ/видео.html
David Hoffman Filmmaker
Cool
I did. Very good.
David, I wish you would come and document the lives of Dearborn, MI. We have the largest Muslim community in America, and you would more than welcome.
Lmao!!!!!
When I was three this is exactly how I imagine work would be like
This is the best comment!
Instead I’m watching this on RUclips while I’m supposed to be working. The irony!
When i was three i was eating sand
😂
😭literally
It wouldn't be 80's office footage without a phone constantly ringing in the background
Well yeah they had to. That was the only way to say something to someone. No emails, no messaging, no computers back then no nothing
@@dreamthedream8929 computers did exist though and they played a large role in the 1987 crash
@@ibrahimkante6022 but people had well developed social skills. That's the most important part. When something was up in those days you simply pick up the phone and talk to the other person to come to a solution. Now people text and email and need self help books on this very subject. How has the world changed for worse in such a short time. People need self help now on how to even begin a conversation with someone as everything is considered awkward these days!
Dream TheDream89 ok boomer
@@dreamthedream8929 Yeah but I think you overlooked the humor in his comment. I could be wrong
Is anyone gonna pick up that phone or what?
Didn't expect you to be here! I used to watch your vids years ago!
Why'd you stop uploading
Hey Jhonny ! They coming for you man!
I watched your Respawnable vids when I was like 12 why tf u here
It's still ringing to this day...
Both of my parents met and worked on Wall Street. My mom said she would get 2 hours of sleep a night, and sometimes went days without rest at all. She said it was such a weird sleazy environment, and after growing up poor in the South it was a huge culture shock. She went to my dads lake house one year, and found out their boss was the neighbor. It was this weird transformation of being on the same level as a man who acted better than everyone else. She retired after 9/11, though, said it was too difficult for her to be in that area after seeing all the death.
I listened to a Podcast series about Nick Leeson, the rogue trader who brought down Barings Investment Bank in the 1990s. It was just terrifying how an initial serious mistake snowballed because he kept thinking he could get himself out of the mess, but he just kept digging a bigger and bigger hole. There was such a culture of bravado and risk taking and the Board of the bank just seemed to either to have no clue, or to be turning a blind eye as the money (on paper) kept coming in. No one was supervising him.
of all the comments under this video, im glad there is at least one worth reading, the rest are stupid ass jokes.
This looks like a great way to get a headstart on a midlife crisis.
You'll have plenty of money to buy that car
@@Neophobic
Never mind the car, the big house in El Camino is where it's at.
opening to every midlife crisis movie, i swear
🤣👍
It is. Just look at 0:46
The guy with two phones accidentally called himself and was trying to convince himself to give himself money.
Underrated comment
😂😂😂
This is perfect
Hahah looks like he made the sale
Lolmaooo
“The key feature here is speed”
I’ll bet it is.
We "blow" through a lot of money here...
They don’t just use curves to track stocks, they use many lines as well.
I love these coke jokes😂😂
LLHGames yes
@@E_Rico speed is meth not coke, but close enough
The old phone ring is like a character in of itself.
Everyone gangster till Fred starts simultaneously talking to 2 people on the phone.
Fred was the speciel kid in School too without gf and last picked in football.
I have anxiety too
2 phones by Kevin Gates started playing in my head
@@ChrisAnderson1986 Now Fred not "speciel", he rich. He has 5 girlfriend's and owns an NFL team.
But the phones aren't connected.
Love how they explain what they’re doing WITHOUT ACTUALLY EXPLAINING A THING.
“Basically, we buy and sell currencies against the dollar”. That’s a basic definition to him? Is that even a real sentence or is he just putting words together? I like to keep things clear and straight to the point when I describe my job. “Basically, we deteriorate the well being of a mediating industry in an effort to improvise poorly developed produce. It’s simply complex”
@@johnjohnson201 okay comunist, maybe the state should do that instead right
They’re paying a set amount of dollars for a set amount of foreign currency, gambling that the foreign currency will soon be worth more. Then they sell it for the new price and get more dollars back than they started with. This is known as forex speculation. The reason they gotta be so fast is that currencies go up and down in value so quickly that missing an opportunity or selling at the wrong moment can evaporate your gains. For an example, imagine the British pound drops ten American cents in value. You buy ten thousand dollars’ worth of pounds. You just saved a thousand dollars. Then the pound goes up in value back to normal. You can now sell your pounds to somebody else for eleven thousand dollars. With the thousand dollar savings from earlier, you have now made two thousand dollars simply by moving money around.
Lux Borealis who taught you math? I get what you are saying, but the numbers you gave were messed up
@@salj.5459 Sometimes the company earns a profit, sometimes they lose. They hope their people win enough to bring in a decent amount over time. The reason they work for a company is because most individuals don't have the resources to buy and sell hundreds of millions of dollars of currency every day, so Banks and brokers hire talented traders to work for them
This job used to have one of the largest heart attack rates.
and a lot of cocaine
correction. cocaine causes a lot of heart attacks
Cocaine is one hell of a drug...
Harry Smith depends on the person for sure
Warg1 its Erbz Grow up.
Would love a side-by side comparison video with someone who does todays equivalent of this line of work, explaining what they do & how things have changed
A good idea Regina.
David Hoffman filmmaker
You'd be talking to a computer
@@odanemcdonald9874 “Wall Street Trader” is still an occupation today, despite automation, humans are still at the helm. So I think it would be an interesting comparison nonetheless.
Its product dependent. For some products that are still a niche, OTC trading still dominates the scene, so its not far off what you see here. On some desks its actually way more manic than this.
The 1980 trader had just come out of 13 years of inflation wrangling, net zero gain in equities, a historical high in interest rates, and enormously volatile commodity markets. All of this data feeds into the exchange rates and these guys were seasoned.
Data feeds, of course, were slower, but it required much greater awareness...and the market spans nonstop from early Monday morning Auckland to Friday 5pm Manhattan (though there are busy and quiet periods every day).
These days it is largely electronic. Execution algos are designed by humans and only as good as their weakest link. Humans are also at the source of every large move and never far away from the trading room (despite it being MUCH quieter).
"You're fired."
"But I don't even work here."
"How would you like a job, starting right now?"
"Boy would I."
"You're fired."
Mr. Crab??😅
That reminds me of Seinfeld when they were firing Kramer from the company that had him working when they mistook him for an employee:
Boss: I'm sorry but we have to let you go.
Kramer: I don't even actually work here.
Boss: That's what makes this so difficult.
Sir Xi Gutierrez von Wallenstein VI 😂 here’s the clip you’re referring too if anyone’s wondering ruclips.net/video/dQw4w9WgXcQ/видео.html
@@latchkeyed959 Ah dammit you got me 😂
Sound like J Johna Jamerson
Two phones guy is a hero. I swear he’s talking to himself.
Of course he is. He's performing for the camera. A real conversation would be highly confidential.
He was just tryna look busy, so his boss wouldn’t fire him. It’s a risky trade, he survived that day tho...
Time stamp?
Smeagol: Buy!
Gollum: Sell!
@@UncleYis 0:43
0:44 Wow, actual footage of the legendary dual-wielding phone technique.
the forbidden manoeuvre
Akimbo phone
I finished reading your comment to look up and see it. It’s absolutely beautiful!!!
You know you’re busy when you’re swinging two phones like a miniature elliptical machine.
And the hair cut, what absolutely unit of a man. Hope he’s living large some where
1980's traders : "honestly I don't know what I'm doing, I just put money here and there based on vague gossip and hope I don't go bankrupt"
2020's trader : "me? Of course I am an entrepreneur, a life coach, entrepreneur, scientific American enthusiast, Blockchain enthusiast, bitcoin evangelist, inspirer, chief visionary, influencer 3 times TedX attender, a modern philosopher, activist, trendsetter, empowering and passionate project manage.
Underrated comment.
Lol, reminds me of Elon
While only having 381 bucks in their pocket ahaha
Underrated comment 🤭😂
Don’t forget influencer, that ones important
“The key feature here is speed.”
Yeah that sounds about right...
Scott Cramer RUclips’s algorithm got you too, Scott?
Well played
A Glass of Orange Juice what’s crank and dope makes you sleepy
Conorcane 12 crank is meth, so pretty much speed but longer lasting
@@conorcane1211 it's crack, not crank. Crack is crack cocaine, crank is a type of mechanism that is used to lift heavy objects (i.e crane)
The most intense part of this was the dude talking to his wife and girlfriend over the phone at the same time...
Hahahaha
Lol
🤣
Got it all wrong, he was talking to your mom and aunt.
Who
The constant ringing in the background would drive me insane.
ibkillah you would eventually tune it out
I was looking for the comment. Fuck that
Just keeps goin,Huh
Ah reminds me of a call center
I find it very soothing
That footage isn't even grainy, it just captured the dust clouds of cocaine accurately
This is what it looks like inside my brain at 4am when I can’t fall asleep
I can relate to that lol
That's a nightmare!
It's actually 4am rn and I can't sleep
Fuck
26 hrs awake rn...
The guy with the 2 phones snorted so much blow he was talking to himself.
@Lewy B all day long
The BEST comentary here
Someone knows that he's on camera lol
Bruhh
pityo gonzalez 💯
The dude being interviewed is probably pissed that he's losing money because of this interview haha.
They probably comped him.
lool
They're probably paying him double
you know he is
No, he likes to have an additional 10 min break
Crazy. Now we just whip out our phones and buy and sell whatever want.
Please look at this Wall Street Post - ruclips.net/video/QbbW8SO08XQ/видео.html
David Hoffman Filmmaker
nah. nowadays we just have computers do it. no cocaine needed, no sleep needed, you don't need to pay them. no delays no useless eaters. no theft, and most of all. consistant, human error free trading. the fact alone that this guy thinks you need to 'follow the rate' already implies that he didn't figure out yet that you don't -need- to follow the rate. you just do the same thing. consistently. all the time. instantly. (humans can't do that ;) and eventually -any- order no matter how absurd and out of the line will close anyway. some just take a bit longer than others. so be it. as long as you always grab your fixed percentage, either up or down. 24/7. (see it more like he casino, from the casinos point of view ;) -these- high on coke human guys try to move the line out of the pattern -we- set. fine. they basically give their money to us. :P we just sit there with our orders on both sides of the current rate :P waiting for them to try to move it. lol. humans are soooo stupid :P as for absurd orders ending up at the upper or lower end of the usual spectrum, fine, even if it takes them 2 or 3 years to close and make their 5%-ish profit. still higher return on investment than let's say. buying a cruise line. it doesn't have to be 'optimized'. it just has to be consistent. and some stuff makes it's % in milliseconds and other stuff takes a couple of months to years. also fine. still higher return rate than anything else ay. on the whole and individually per order. what you don't want is humans. with primitive emotions, and drugged to stay awake, having anything to do with your trading.... as for 'phones'... how the fuck are you gonna place a couple of 1000 orders all over the place in a second over a phone. lol. thought trading by phone went out of fashion in grandpa's days. lol. place the orders and just go 'this is the price bitch. take it or leave it and if you don't take it, well then that's still the price a year from now' lol. none of that human fomo or fud crap.
you will ofcourse see a number of your orders ending up allll the way at the end at like 10% of what they should be but those -too- will -eventually- clear -one day-... the vast majority of your capital is simply generating it's profit time and time and time again and more than makes up for the part that is just sitting there at a 'significant' loss. (for now). and it's the roamed off profits over the volume you want. not even the original capital back, per-se. consistant, ingress cashflow. even if stuff ends up delisted. who gives a crap. by that time it's already made it's round at 5% or so profit 'more than 20 times' and as such made 100% (actually more, profit over profit ;) times and as such it's fine to have a 100% loss on the originating capital. main thing. consistency. not 'omg market conditions blah blah or read the news' shit humans do. WE define the price bitch. take it or leave it.
@@CB3ROB-CyberBunker you said a whole bunch of nonsense. I almost had an aneurysm trying to read that shit.
@@CB3ROB-CyberBunkernot reading that, but okay Jimmy neutron 🧑🏻🏫
Legend has it that the phone is still ringing till this day.
Before anyone wooshes me, I get the joke, but a phone is probably still ringing there now lol.
underrated comment lol
🤣🤣🤣🤣🤣
Yeah tinnitus lol
Considering this was in the wtc...
"You should've seen Dundee Mifflin in the 80s, before they found cocaine was bad. Man, they could move paper."
-Michael Scott
They were all like Michael with the pretzel
Was just fininshing watching an Office episode when I saw that commentary haha
I was waiting for a joke like that to appear, thank you😂😂
NO recovery happening ! Still NO livable wages of $24/Hour and up! NO 100% PPP viral mask 😷 available for all Americans + hardcore PPP social distancing of 7 feet or more ( circumference) around every American!!! Cost of living too high!!! UBI still not passed for $600/Week for life! Capitalism is dead!!!! Time for an egalitarian Highest Standard Of Living AND Happiness For All Society!!! Stock market is 100% a fraud!!!
What episode was this?
The two phones aren't even hooked up. He's just coked up as hell.
That was so funny this is bizarre
He's selling computers just like Lloyd Braun.
🤣
And he doesn’t even work there.
The sad part is that he’s actually on the phone with himself.
I would like to thank this channel because every picture is a thousand words I've learnt more in the last few days of finding this channel then every rabbit hole I want down on RUclips, it's the light at the end of the tunnel, keep up the good work 👍
Thank you for your beautifully expressed comment. If your resources allow, I would sure appreciate your using the THANKS button under any of my videos including the one you have commented on. It is something new that RUclips is beta testing and would mean a great deal for my continuing efforts.
David Hoffman filmmaker
@@DavidHoffmanFilmmaker such raw footage in all your videos, the more I think about the research thats gone into finding and presenting these videos it makes me appreciate them more, for every masterpiece you have to look though 100s of hours of bad videos and you need something that's going to capture and captivate your audience in the first 60s and to maintain the level of interest throughout and be honest to itself, amazing. Side note : thanks for reminding me to like the videos I was so busy sending the link to the "amazing story teller" I completely forgot, my brother and and brother in law thought it was amazing too, there is nothing better then an uninterrupted raw interview of a time past. Anyways thanks again 👍
What if 2 phone guy was talking to himself
Like Timmy Turner’s dad?
😂
Lol! He was talking to his Higher Self after tripping on some DMT back at the restroom!
Hahahaha
Just a lost hyena 🤣
“The key feature here is speed.”
... I’m pretty sure he’s referring to ‘speed’ as a noun, if you know what I mean.
Speed is a noun anyway...
no one's rolling bowls they're ripping fat lines in the washroom
Did you mean name?
Hazzar595 lol damn you’re right...
Helder Yysus he means coke
I wonder how much money they lost while being interviewed
They better start buying gecko insurance 😂🤣😆
I think they were interviewed after market hours had closed
one billion dollars
That’s what I was thinking!
69 696 969 USD
I hope every honest person shown in this video is doing well. I can't begin to imagine how stressful this work is, let alone the actual NYSE floor.
Holy shit, the man himself hearted me haha! I'm only on this specific video because I am studying the stock market right now in school, but David's videos are as big of a go-to source for me as the library. His content is so simple yet direct, and I feel like I'm transported back to when I was a kid watching PBS documentaries whenever I watch one of his videos 😊
If you think you can infer someone is honest from an interview, then I suspect you’re either extremely naive or autistic
I once met a currency trader while playing poker. Most impatient man I've ever seen. If someone took more than a few seconds to make a decision he would become visibly annoyed. Later on he told me about his job and how the quotes he gives are only valid for 7 seconds. Explains a lot.
damn
@@NeonLine 2nd best name ever
When I worked in rental cars they were the worst type of customers. "Why is there a line??" Gee...dunno
What century was that?
That’s strange. Because as a trader the #1 quality you need to have is patience
Fake. I didn't even see a chest pumping Matthew McConaughey
Uhhhhh uh
Damnit. Now I gotta take 4 hours to watch that movie again! Oh well, not like im doing anything else these days 😷
Best movie ever
suprcrzy watching it rn 😂😂😂
Not even a Vin Diesel selling fake stocks.
I bet that that phone is still ringing this very day.
What phone ringing? I think you're suffering PTSD.
Ian-Devon Lewis I think you are suffering hear loss
It was multiple phones all their phones were ringing off the hook
Love u haha
The phone, the phone is ring-ing.
I worked at chickfila for 9 months in the kitcen on the corner of a major highway exit onto one of one of the busiest streets in Texas and this does not seem bad at all.
This is the most 80s, American thing I've seen.
Those times were cleaner than these wicked times
@@internet2055 yeah more racist too
@ oh you caught me damn okay I'll stop lying
@@letsfindsomepeace9207 Out of all the things the 80s suffered from, you think of racism? Really?
@ it was more racist though? It's ignorant to pretend it wasn't. Only 20 years before this MLK marched on Washington and y'all are acting like racism was gone because it's the 80s.
The dude with 2 phones was calling both his cocaine dealers
caught me weak😂😂😂😂
Certainly not calling his hairdresser
Playing pizza hardball
Dead 😂
Green Dreamz Garden he was talking to Pablo and Escobar
Remember when Wallstreet journal used to report on wallstreet stocks instead of PewDiePie?
That's why T series is winning
Pepperidge Farm remembers.
Wsj is nothing but a bitch lasagna
Pewdiepie finances*
Stop watching this video immediately and subscribe to Pewdiepie
Man wish people still talked like this. These accents were amazing
That ringing phone is actually just a pre recorded phone ring being replayed constantly to make them think they are always busy...
Interresting
Are you being serious?
the viewers or the workers ?
kingrahimi workers
Either this is stupid or brilliant comment, both ways works so yeah
That 2-phone guy is too much
Talking with himself
XD
At big auctions you frequently see people using 2 phones at the same time.
u explain the same thing to two persons at the same time
unicycle master
The haircut didn't help.
My aura is clean. .it it brought me here. . You game?
This is how Robinhood traders see themselves..
“Basically, what we do is buy and sell senseless options both to lose money and because it is funny. The key feature is memes, trying to figure out what is funny on r/wallstreetbets so we can anticipate and catch shitposts as they occur.”
margin call
@@agentanaranjado r/wallstreetbets is basically buying reddit karma with real money
@@helgil6545 what a deal
Most Robinhood “traders” are jokes.
I got a bachelor’s degree in Finance and work in the industry. Every one of the professors and friends I’ve talked to who worked on Wall Street made good money but burned out quickly and said it was a really terrible experience. One professor managed a fund for Goldman Sachs and was required to lay off a minimum percentage of his team every year just to keep everyone competitive. No thanks - at some point the extra money you could make just isn’t worth it.
I am not american, i have finance degree too and had work as broker just for 14 days. What you said is true and it's stressful, i quit because my blood pressure is rising again, note: i got HBP during college days because overproject. I rather do business😁.
*_Not a single mobile phone in site just people living in the moment_*
LOL. Thanks Echardt
Well the phones weren't too mobile back then
@@luvpinas123 I mean, yes Mobil phones back then were 'technically' a thing, but coverage was ultra shit.
“Living”? Lol
They worked themselves to death so much fun
Cocaine's one hell of a drug
Martin Lazo someone had to say it..
Sir Kayda I know right?
Right
Ignacio Nemarich what
John Doe Not all drugs can be easily laced. LSD, for example, is really hard to fake. About the only other psychoactive substance that is active in doses small enough to fit on a 1x1 cm blotter tab is NBOMe but even that is a much larger molecule and is easy to test for.
They actually all seem way more relaxed than most modern day professionals.
Cause they're all on Marijuana cough syrup and cocain haha
*THATS NOT INTENSE* work a 12 hour shift at an Amazon warehouse...!!!
@@piccalillipit9211 there are different levels of intensity. Here you are making decisions by the second. With one wrong decision you can lose millions. From what videos I have seen in an Amazon warehouse the operatives just do robotlike work. Move the package as fast as you can and as many as you can. It’s monotonous and doesn’t require making important decisions.
Probably because no one is blowing up their cell phones like today.
All the drugs probably helped.
This is the kind of social charisma and communication skill my mother want me to have
The guy with 2 phones is so coked out, he's trying to sell himself stocks for commission.
😂😂😂
Damn that's actually smart 🤣🤣🤣🤣
😂😂😂😂
Ah yes big brain time
HYUFUBJIHHIKVUGRYYYFUHBIKGGIJVGUHGIBV I'M DOWN
The stress, the chaos, the 2-phones-guy, this looks like that episode where Spongebob's brain is on fire, this is PERFECT.
WE THREW OUT HIS NAME!!!!
That's EXACTLY what I was thinking!
Yeees...exactly what I wanted to say
This is fine
0:45 imagine if his foot started reaching out with a third phone
HAAAA
Best comment here
🤣
What makes this more funny is that he actually looks chimpy.
That would be a leslie nielsen movie!
These people were relaxed cuz everyone accepted not knowing what you’re doing. Now, managers expect you to know shit!
The guy with two phones is iconic I’m going to be him for Halloween
aliyah del Great idea, thanks-
Congratulations
pjedrzejko Thank you. I love my fans !
You can't be who your not
The American dream
This is the most capitalistic thing I’ve ever seen.
For sure. And I love it.
And I thought it was eating a cheeseburger while driving a 1992 Mustang
No, this is the most capitalist thing you will ever see....and it was glorious!
ruclips.net/video/s9xlu_R46x8/видео.html
"The most capitalistic thing i've ever seen"
*_*Posted in a multimillionare digital service using a high technology device which was previously invested by many manufacturers, but he is surprised by a 40 years old situation_*
Gotta love capitalism
There was no Internet. Every stock trade required a human action. Brokers made 8% on the total trade, buying or selling.
thank god to that
8%??? HOLY SHIT!
@@FeroxX_Gosu that alone is probably why a lot of that has been moved online 😟
Yea I'll take 8% to spend your cash lol
@@lieutenantdan2217 no wonder they got most of this online and DIY now, don't have to pay some intermediary 8% off the top of each transaction like that
Seems like a risky way to make money. But for some it just comes easy ...like my brother in law he just plays around with stocks almost casually and makes a good chunk most times. Fascinating look into a world that I know nothing about. Thank you David!
Not really risky, if you know how it works and learn to follow the bread crumbs, technically. Everything is timed and measured, especially these days with algos pushing most the volume. Still programmed by humans.
Pickup the damn phone already.
Which one
@@Terence.McKenna the one with that repeating ring...
@@YesSirPhil probably a different one each time
Welcome to my life. Auto service.
The one dude's already talking to 2 dudes at once, what more do you want from him?
this is just wallstreetbets discord server now
Rip WSB discord server.
@@bissy97 it's back up tho
If that was intense imagine how they are acting now during this squeeze
@@rayg5445 The squeeze aint squoze.
Fake new everywhere, fuck silver. I do not like that stock
Man: “The key feature here is..”
Me: “cocaine?”
Man:”speed”
Me: “whoops.. close enough”
You're not wrong lol
Coke helps
i read this, liked it, but then when i heard him actually say it in the video i got the joke 😂😂
@@edgiestofcars nah, probably makes you slower
@@xraystudios3693 go watch 80's robin williams it makes you go faster
"What a bank as for sale, is information, and this is always been true"
Chilling how ahead of it's time this quote is :O
"So what do you do?"
"I make money"
"How? What do you sell?"
"Money"
What do you mean?
Well I buy money and I sell it.
Buy it from who?
Whoever wants to sell it.
Sell it to who?
Whoever wants to buy it.
How do you do this?
On the phone
Couldn't make any more sense.
I create nothing... I own... 😜
Hahahaha
@@genogrinberg6014 why the fuck did I read it with a Hindi accent
America in a nutshell - buying nothing so you can sell it to nobody
The timing of this being recommended is too good
I came here for this
I don't think it's any coincidence.
HOLD!😁
This video is recommended every handful of months.
First time I ever saw this video was yesterday.
This is why they had whiskey and cigarettes for breakfast everyday back then
And cocaine
Now it's Adderall 😂
won ton min cocaine was lunch
Indeed I believe so.
@bihbhkjbnlk Tell that to Christopher Hitchens. Dude pretty much lived on Johnnie Walker Black and cigarettes and remained as sharp as a knife to the day he died.
The sound of their voices is totally different and this isn’t that old.
It was the microphone they would all sound the same
Totally different to what? do you know them all or something?
@@symbiote1982pk I mean the audio of this sounds “old” like compared to people talking today.
Yeah I noticed that too. The cadence is different , no one has vocal fry, and no one uses like as much . People seemed less self conscious
Boomers be like:
"These modern kids are always on their damn phones!"
Least these people's purpose on the phone is making money lol
@@LexieNicole24 Yeah, but in a very stressful and unproductive way
Okay, boomerrrrr
@@vaclavcervinka65 Easy to criticize 40 years later in the comfort of your phone. "Yeah, look, was bad and negative". Like people would have all the possibilities, but they decide to work in a negative place. Not, is not that easy.
Boomers: Oh wait.....thats us on the phones there!
Ah ....that one doesn't count!
That guy dual wielding the phones was one of the most American things I’ve ever seen.
Shud put his face on the 100 dollar bill
He got phone finesse
Businessmen all over the world do that. It's called being a two phone tycoon
@@politereminder6284 but he was also on the speakerphone
@susanne anique Still the most American 80’s thing I’ve seen all day.
“You’re fired, you’re hired, you’re fired”
Did you get the abortion yet?
Well then buy it. Well then sell it, I don’t know
What am I paying you for ?!
5:20 bro
How old is this coffee?
This video has been showing in my recommendations for years and here I am watching it again trying to glean insight from it
I bet their souls are still hearing phones ringing
I worked in a call center for 3 years and I still jump when a phone rings.
Zach Reynolds this job guaranteed two things in those days: fucktons of stress and fucktons of coke to cope with the stress. I’d be amazed if even half of em are still around.
@@SoloSabbath same
In the 80's I worked in a reservations center for Continental Airlines. Even now I've been told when I talk in my sleep I say things like "Will that be first class or coach?"
@@chrism1102 lol
This sorta looks like that one episode when spongebob is trying to remember his name
Exactly! “Hidey hidey haaaaa, my name tag, what’s my name! Aaaaahhhhh,” have we got anything about his name, I can’t find a name, AHHHHHH” Sponge Bob is the best, love those guys! RIP Steve Hillenburg ♥️
@@HeadNtheClouds he’s talking about when squilliam asked spongebob for his name not the name tag episode.
“WE THREW OUT HIS NAME??”
spongebob specifically used the stock broker work area to express the feeling of choas, or panic.
@@H.E.M. oh yeah, there are 2 different episodes where he forgot his name 🤔💕
This looks like spongebobs brain when he forgot his name.
I saw that episode too
😂😂😂
WE THREW OUT HIS NAME
NO!!! THIS IS PATRICK 🤪
Yes.
They were masters of multitasking, indeed. Wow!
1:32 So they have a machine that sends paper across the room so the girl can grab it and walk to her desk where it started... That proves how much money they made!
So whoever printed the work at their desk had to actually walk to get it from an entirely different area?
WhatAreYouBuyen
Haha that’s so funny! I didn’t even see that! Haha!
But why though? Just to show other workers that a new paper was being prepared so they better get ready? Why not just have a light up buzzer where everyone can see it
Lol well her phone rang. Also it could have just passed her.
An introvert's nightmare job scenario.
Wow, things have changed today with Webull and Robinhood. I made a no commentary investing and trading channel, which technically would be great for an introvert.
He would keep up
Quite so
It absolutely is
I think an introvert could flourish here. Zero small talk, zero BS in a fast-paced, results driven work environment.
They forgot to interview Matthew McConaughey
MM - * beats chest musically *
Or Jordan Belfort
not alright
@Advocatus Diaboli who is that
Those are rookie numbers.
Crazy how u have more information on your phone now than all of them combined!
Kevin bacon with that double phone technique was insane
For a change, the main guy who was being interviewed mildly reminded me of Jeremy Irons. :-)
@@subraxas he looks more like rivers cuomo to me lol
Seems like the first phone they weren’t answering. Then the second line rang and he had to answer.
He looked like a pumpkin pie hair cutters freak.
Keifer Sutherland, yall
My mom: “Two-Phones Jones isn’t real son, he can’t hurt you”
Two-Phones Jones: 00:45
😂😂😂
😂
👃💨
Lol that gave me a good laugh
😂😂😂!!!!!!
Plot twist:
Two phone guy was actually in charge of ordering everyones lunch.
Max S.F. XDDDDDDDD
"Got it... Turkey and Swiss... Ham on Rye... Egg Salad... BUY! BUY! BUY!"
ruclips.net/video/Ooh652s6LJY/видео.html
taotoo2 - LOL, I'm glad I followed your link. That was perfect. ^^
taotoo2 - Brilliant. Here's one back to you...
ruclips.net/video/SQM-OTVUMHs/видео.html
I get annoy by answering one phone but this guys answer multiple at once my respects to this guys.
Theres more cocaine in that office than grain on the film.
@Weed Man r/wooosh
@@nsd781 ?
@@connorsmith9663?
@@placepages8071 ?
@@milanvanjoost882 ?
for a job that's apparently all about speed and efficiency they sure took their sweet ass time answering that damn phone.
keyword: speed
If everyone at your job had a dedicated phone would you go pick your buddies phone up and lose money from your own calls as the woman suggests in the video
Just watching this made me extremely stressed and anxious
RIGHT?!
Fragile human
I just fucking love this
That's why people like you have
"safe spaces"
everyone talks crap untill they have a breakdown.lol
No one is actually on two phones. They are on two handsets attached to one turret. The turrets have a dial pad connected to the LOC, the Local Operating Company, which would be NYTel/Nynex/Verizon in this case. The array of buttons allow the trader to speak to a counterparty without dialing. The lines are point-to-point copper (or fiber). In this case the turrets are made by IPC (Interconnect Phone Company). Each point-to-point line has two ends but only one phone bill so in the case of Citicorp someone who wanted Citicorp as a counterparty would pay for the line.
If the trader is too slow to respond to a blinking button (incoming call) his counterparty will look for someone else to take the other side of the trade and push another button on his turret.
The news display on the wall is a TransLux (oldest stock on the American Stock Exchange). NNNN is EOM (End Of Message)
"BUTTLICKER!!! OUR PRICES HAVE NEVER BEEN LOWER"
YES
Hostile, Aggressive and definitely difficult!
@@Charlie-lf7iy "It is a million dollars"
For those that dont know, it’s a reference to The Office
YESSSSSSSSSSS
The legend says that the phone is still ringing to this day.
No it doesn't
Legendary!
Still but it's updated my friend
guy on the line is in coffin now still calling that number to trade some
hahah
Ah yes, THIS is the purpose of life. We were put on this earth to do THIS.
Just say you don't understand trading and economics.
@NicoCoco i'm sure there are many stock traders that haven't given up their souls
@@smitty1647 source?
@@smitty1647 A childs idea of a soul is imaginary. When you hear something like "sell your soul" in regards to a profession, it isn't referring to some magical essence within you. You've never heard someone in the music industry talk about other artists "selling" their souls?
@@Amartin-mu6oj best be careful calling the theological concept of a soul a child's concept lol. but yes i'm familiar with metaphorical souls rather than magical ones like in that bible quote
Look people who are already rich getting richer by adding literally nothing of any material benefit to the world, and when ever they see any consequences what so ever for their gambling addictions the poor will foot the bill, wow such epic stonks
“Gotta pump those numbers up. Those are rookie numbers in this racket.”
wolf of wall street? one good movie
"They were drunk on youth, fueled by greed, and higher than kites"
"You're able to do drugs... And still function?"
I'm surprised there aren't more wows references here?!
This room was replaced by a single laptop that sits half open on the floor of an unmarked room by an ethernet port in a forgotten building.
Sounds like something on r/LiminalSpace
New era new rules my friends
@Socio Cynical Doesn't even have to be advanced , there are people running trading bots on their personal laptops , using Trading View ... you just need a personal laptop, hi speed internet (business grade), and a web browser ... and you will probably be faster than the entire office.
@@Ettrix I'm intrigued, what kind of trading bots?
@@Ettrix You won't be faster than the companies that literally are built next to the stock market and have a direct cable connection to it. You can never compete with the giants
Phone dual-wielding at 0:45
That’s why I’m here. That thumbnail lol
Hey, I know you! You make videos about retro video soundtracks, right?
@@physical_insanity yee
akimbo
Yeah we saw the thumbnail buddy. Enjoy your likes
One thing is for sure, these professionals are geniuses. How all this works is beyond my great grandma. Bless her soul 💖💖
Imagine explaining this to an Amazonian native...
I got it. "You get the seeds from your only apple and plant them to get more apples"
So that's how economy works basically?
I imagine it would feel like being transported to an alternative universe: Strange people and technology seemingly functioning with a purpose, yet no correlation to your own knowledge of existence.
It should be like, "these soul less monsters are trying to get paper by selling more paper so they can buy a boat and cocaine and then die of an overdose or from depression when they realize how fucking pointless everything they do is."
Imagine explaining this to 21st century new york native..
I can see why stock traders have almost the highest rates of suicide in the world
Who has the highest rate?
Lycanthropy 333 Epstein
That would be psychologists
as a friend once described it to me, the highs are the highest, and the lows are the lowest
Go look up the suicide rate for architects
These people must have heard a phone ringing in their SLEEP.
and they'd wake up and take 3 shots
Bold of you to assume they sleep
You can bet they do, anyone who has worked in a callcenter will experience that...
PTSD
This gives a whole new depth to Steve Carrell's character in The Big Short.
“In order to make people think I was professional I needed to figure out what it is I did”
Somethings never change
- A programmer
A programmer's best tool is Google, because 95% of their work has already been done by someone else on the internet
@@tylerlackey1175 then why are programmers still necessary? To debug?
@@directorbeau to larp as people
@@directorbeau Tyler's just joking. If people are wholesale copying their code off their internet, they're not good programmers. Google is necessary for figuring out how to do pieces of what you need to put together into a final product.
@@styloverte1163 yall are puzzle artist basicly
When I was a kid I thought this was all jobs outside of cops, firefighters and soldiers.
I used to be so scared that one day Id have to get a job like this.
What about now?
@@kyledelrosario8963 Now unfortunately I’m working a unarmed security job at a poultry plant. I’m quitting in November for better prospects.
@@420lildonn Good luck Kyle!!
Dante, please let us know how things are!
@@arunasrancevas6095 I have a interview tommrow and one Friday.
40 years later and I'm still no closer to having any idea of what these people actually do. I'm sure they aren't either.
Essentially the human version of Smart Contracts
@@dont.ripfuller6587 "Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary's involvement or time loss."
Not 100% the same. But since these people are basically "programmed" to automatically react + execute, based on conditions... and since they were in the business world... and since their actions led to buy/sell "contracts"
Speak for yourself, mate. It’s easy to malign people when you don’t have a clue what they’re doing, but it doesn’t mean they don’t either.
@@dont.ripfuller6587 I do.
They are putting checks into money market mutual funds, then reinvest the earnings into foreign currency accounts with compounding interests - aaaaaand it‘s gone.