Trading As Teamwork by Franz-J. Buskamp
If you were to ask Chicago trader Joseph Ritchie whether he sees himself as an individual trader or a team member, his reaction would probably be a tired smile. After all, he is a member of one of the most successful options and futures trading team, Chicago Research and Trading Ltd. In 1977 Joe Ritchie developed a simple, albeit promising arbitrage program.
The dollars necessary to put the system into practice were provided by three friends of Ritchie, with whom he founded CRT. From a starting capital of $100,000, CRT has to date realized $300 million in profits, easily placing the firm in a lead position worldwide amid independent firms trading for their own account.
What started out as a somewhat laidback operation in a cubbyhole of an office, equipped with only a pocket calculator, can today regard itself as a high-tech flagship for the U.S. financial sector.
A typical success story? Certainly! But it's also an example of what teamwork can bring.