You Mean You Don’t Have to Know Anything to Do This? Thomas Peterffy Part 1 - IBKR Podcasts Ep. 3

In this podcast, Thomas Peterffy, the founder and CEO of Interactive Brokers, shares insights from his early career as a market maker in the 1970s. He humorously recalls hiring attractive women to catch the attention of specialists on the exchange floor, a story that reportedly inspired the film *Trading Places*. Peterffy explores how markets have evolved from manual trading to sophisticated automated systems, underscoring the significance of low transaction costs for profitability. He also addresses the inherent risks of short selling during tumultuous times, like the 1987 market crash and the GameStop phenomenon. Additionally, he discusses his recent shift from the CEO position while continuing to play an active role in the company.