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Flying Solo- A Trip To Sweden

Flying Solo- A Trip to Sweden

January 12, 2017

Chapter 60 in the exclusive series for Dynamic Commodities- becoming a commodities trader

Sid hired Bennie Bieri, a Swiss options broker to assist Peter Grinham in London. As the profits of the option department grew, it expanded. One of Bennie’s first jobs was to accompany me to Brussels for my first solo speech. I was nervous as a kitten; the speech was before at least 200 traders, producers and consumers of commodities. The topic was options. I was looking forward to my trip to Sweden after the speech which I dreaded.

Bennie was awesome. The speech was at noon and sensing my tension, he suggested that I have two glasses of wine before the presentation to loosen me up. As I approached the lectern and began to read my notes to the audience I felt my legs shaking. I was not pleased with my first performance. However, Bennie told me, and Sid, that I did just fine. The speech was the first of many over the coming years.

After the speech, I headed off to Stockholm with an assistant trader from the copper department in London. The company we visited, Boliden, was a major copper producer that wanted to learn about options. Gold and silver are byproducts copper output. I met with the senior trader at the firm, Glenn Anderson and his assistant Olle Johannsen.  I explained how options worked and the two were intrigued. At the end of my presentation and after answering several questions, Glenn Anderson said, “can we trade with you right now?” There is absolutely no better reaction one can expect from a presentation than that.

I got Sid on the phone and Boliden proceeded to trade a huge number of gold and silver options with Philipp Brothers. The trades netted an immediate profit of over $2 million for the firm. I was excited beyond belief. When I returned to my hotel, the phone rang and it was Chris Linen. He congratulated me on a job well done. Ralph had told Chris of my success. A few minutes later, Marty Kaufman the Chairman of the company called with congratulations. He told me to go out and have a celebratory dinner with lots of drinks that night. I told him I was going out to dinner with Boliden and he said to spare no expense. Then Sid called.

Sid only said, “I should have gone on this trip with you.” When I returned to the New York office the next Monday, I was a made man. I was a full-fledged Philipp Brothers trader and my career took off like a rocket.

Post Series: Origin Of A Commodities Trader

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