Here's a recording of the full 2+ hour speech that the late legendary bond trader Charlie DiFrancesca gave in 1989. It's very pit centric and somewhat outdated, but he still delivers a hundred meals for a lifetime.

Gary Phillips writes: 

There is a great story about Charlie D. After a particularly tumultuous day in the bonds, the pit had emptied out as usual, except for a few stragglers who remained sitting on the steps. 'SPL' was sitting there looking unusually despondent as his clerk P&S'd his remaining cards. Charlie happened to walk by and ask one of SPL's other clerks "what was wrong with Steve?" I wasn't privy to those words, but as Charlie walked away I heard him say, " Shit, I thought Steve could handle dropping 2Mil better than than THAT!





Speak your mind

3 Comments so far

  1. Anonymous on August 3, 2016 7:42 am

    Intermarket relationships and order flow. Still works in the electronic age…

  2. Andre on August 3, 2016 7:25 pm

    These days successful traders are unicorns and lots of people are full of shit. Is it technology and 0 rates?

  3. Elizabeth Di Francesca on January 28, 2019 12:18 am

    Who is Gary Phillips and what was Steve’s last name ? 2016–its 2019
    Are they still around do they still think 2 mil is a drop in the bucket to lose ? How about bankers stilling the homes of common families ? Especially due to banker MERS fraud. Commodity is “us” we are the ones hurt by all of this………….I wish he was still alive now to discuss this with him.


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