One day after the close, a trader named Steve was sitting on the steps of the Bond pit visibly distraught after his clerk had just finished figuring his P&L for the day, subsequently informing him that he had dropped $2,000,000.
Another trader, Charlie D, walks by and asks Steve's clerk what was wrong with Steve, and was told about the hit Steve took. Part befuddled, part disgusted that Steve would be that upset for dropping "only" $2MM, Charlie remarked, " Shit, I thought Steve could handle dropping 2MM, better than that!," and then walked away.
I'm not quite sure if if that excerpt is funny; perhaps it's more ironic, but I will never forget it. It underscored how the pit was a virtual microcosm of the financial world, highlighting the vast disparity between the very large traders and the relatively smaller traders.
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