This is a nice story about old-school trading:A pit trader from back in the day when there used to be around 10,000 men on the floor says the guys used to feel like they had to stand out from the crowd.
“That’s why you see all those Technicolor jackets,” a former floor trader told Bloomberg.
“A lot of guys wore shoes with three-inch soles so they’d look taller. There was a guy in the Loop who made his living resoling shoes for traders.”
Now trading is all done by computer and there is no need for traders to stand out on the floor. There are so few of them, it’s easy.
At least they can throw out the lifts! Now they’re manlier than ever.
For more old school trading throwback reading, check out how insider traders used Bud Fox-style codewords and got caught.