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Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance and economics.
If you have any interest at all in finance, then it's mandatory to have seen the 1983 movie "Trading Places." 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 couple 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.
SoundCloud: The Incredible True Story of the Real Life 'Trading Places' by Bloomberg
To contact the authors of this story: Tracy Alloway in Abu Dhabi at talloway@bloomberg.net, Joe Weisenthal in New York at jweisenthal@bloomberg.net.
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