Investing 101 at The New York Stock Exchange with The Einstein of Wall Street Peter Tuchman

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.4 • 1.4K Ratings

🗓️ 5 January 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nicole heads to the New York Stock Exchange to talk with Peter Tuchman, AKA The Einstein of Wall Street. There, they confirm the rumors: the Wolf of Wall Street days are over. Peter reveals what it's really like working on Wall Street, how to protect yourself from scammy finance "pros" and how to navigate the market successfully. You can find more on Peter (including some of the famous NYSE photos) here: https://www.einsteinofwallst.com/

Transcript

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0:00.0	I'm Nicole Lapin, the only financial expert you don't need a dictionary to understand.
0:07.0	It's time for some money rehab.
0:16.1	When the New York Stock Exchange was established, the very first thing it did was shut people
0:20.7	out.
0:21.7	Seriously.
0:22.7	In 1792, all the reputable stock brokers in New York got together to sign what they
0:27.2	called the button wood agreement.
0:29.3	A truce basically that set out to make investing more trustworthy by keeping con artists who claim
0:34.6	to be stock brokers outside the exchange.
0:37.8	At the time, this was a pretty significant problem.
0:40.7	These con artists would basically sell people stocks based on flat out lies about the investment
0:45.4	opportunities.
0:46.4	And the prevalence of this made Americans skeptical about the whole investing system.
0:52.3	So brokers started to trade behind closed doors of the stock exchange to keep out the
0:56.7	scammers.
0:57.7	But closed doors didn't shut out only the bad guys.
1:01.3	It shuts out everyone.
1:04.0	Since the button wood agreement, retail investors don't have the same access to the stock exchange
1:08.5	as brokers do.
1:10.4	Until today.
1:12.6	In today's episode, I actually go to the New York Stock Exchange to chat with Peter Tuckman,
1:17.4	a stock broker at the New York Stock Exchange who has been called the Einstein of Wall Street.
	...

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