“This is worse than a divorce. I’ve lost half my net worth and I still have a wife,” said one shell-shocked share trader at the end of the worst day on the stock market for twenty years.This line came in to me from the US via yahoo messenger at about 3pm on Friday afternoon, allegedly […]
Tag Archives | traders
Where are they now? The conversation on the balcony at one EPCA function last night turned to the traders who have disappeared from the industry in the last year or two.
Out came the amusing anecdotes about the circumstances of their departure, and even the mess they left behind, and occasionally the clamouring creditors who still wait in vain to be repaid.
Following on the surprise news last week that Ross Jones, formerly with Nova Chemicals in Fribourg, had joined Adam Popov at aromatics traders PDIT, comes the news that Mark Robinson, currently at Petrochemical Brokerage (PCB), will also be heading for PDIT in September.
Robinson had been broking styrene for Rotterdam-based PCB from Fribourg, Switzerland.
PDIT (Suisse) SA in Geneva is the trading arm of PDIT Group in Europe.
In a surprise move which rates very highly in the realms of Blog gossip and has set all the yahoo messenger screens buzzing, petrochemical trader Trammochem announced today that Ashok Kishore – well-known trader in aromatics – would “assume the responsibility of Trammochem’s worldwide trading activities”.
A hedge-fund manager told US congress last week that without traders’ speculation in oil futures, the price of crude would drop to $65-70/barrel, according to this article in yesterday’s London Sunday Times. Congress is considering introducing measures to limit futures speculation, although the Commodities Futures Trading Commission (CFTC) insists it’s nothing to do with the traders and purely a supply/demand issue. US Treasury Secretary, Hank Paulson is in London this week for more talk along these same lines.
A newspaper leader on “The Arithmetic of Crude Oil” made the Blog smile when it cited
Rockefeller’s famous recipe for growing rich – “Get up early, work late, and strike oil”. There were also two other good pieces on “Garbage in, petrol out” and “Diesel from algae”. And a piece about worried oil traders, whose part in the global oil price hike is now under scrutiny.
There was great hilarity at NPRA when traders Kolmar announced that Predrag Sasic had returned to the Kolmar fold, just seven months after quitting. His original reason for leaving was that he didn’t want to move to Zug with the company. In the meantime, Predrag moved himself to Zug with a new employer, but then saw the error of his ways and was welcomed back into the bosom of Kolmar. Click here for the full “Trader Update” on www.icis.com.
The high price of crude, unplanned plant outages, force majeures, difficult customers – these all add to the stress of the trader’s life. No wonder then that violence can break out on the trading floor.
EPCA 2007 has come to an end. The dance is over. Dustballs blow through the deserted lobby of the Berlin Interconti, and the Blog has returned home to catch up on sleep and compare notes. How was it for you? Do you have any idea who all those business cards were from? Are you facing […]