Stock exchange

You just can't forget that something like this happened.

I was so disappointed when they closed the Stock Exchange, but of course, at some point you had no choice, you know, when they initially announced it was closing.

Because you wanna just say, "The hell with it.

You're going forward.

Well, I guess the big thing that, that you really will have to do is never forget.

You just can't forget that something like this happened.

I was so disappointed when they closed the Stock Exchange, but of course, at some point you had no choice, you know, when they initially announced it was closing.

Because you wanna just say, "The hell with it.

Plus, remembering 9-11.

Peter Tuchman joins us from the floor of the New York Stock Exchange where he was working that day to share his reflections.

But let's begin with today's economic reports.

CPI was a touch firmer than expected on the core, and the preliminary September consumer sentiment report was pretty awful, falling four points back to near-record lows, with inflation expectations hitting 4.6 percent next year and still 3.4 percent for the medium term.

All right, Frank, thank you very much.

Joining us now with his September 11th experience is Peter Tuchman, senior floor trader at Trademoss Securities.

He's worked on the floor of the New York Stock Exchange for 41 years and was walking from the subway to work when the first plane hit the North Tower 25 years ago.

Peter, it's good to see you.

Land may be the source of all wealth to the mind of a settler in a new country.

To those whose working day was passed in Threadneedle Street and Lombard Street, on the floor of the Stock Exchange, and in the Bank of England, land appears to bear no relation at all to wealth, and the allegation that the whole surplus of production goes automatically to landowners is obviously untrue.

George's political economy was old-fashioned or absurd, and his solution of the problem of poverty could not withstand the simplest criticism.

Taxation to extinction of the rent of English land would only affect a small fraction of England's wealth.

The English organizer or secretary of the still unformed Davidsonian Fellowship was Percival Chubb, then a young clerk in the Local Government Board, and subsequently a lecturer and head of an ethical church in New York and St. Louis.

Thomas Davidson was about to leave London, and the company he had gathered around him, desirous of further discussing his suggestions, decided to hold another meeting at my rooms.

I was at that time a member of the Stock Exchange and lived in lodgings furnished by myself.

Here then on October 24th, 1883, was held the first of the fortnightly meetings, which have been continued with scarcely a break through nine months of every year up to the present time.

And I'm not sure how soon it was that we were finally able to talk with Dr. Brady and about his experience of being in New York.

But, you know, in days after, I had lengthy conversations on the air and off with Dr. Brady about just how startling that was to be at the New York Stock Exchange.

And he and others were, you know, ringing the bell.

And by the time you ring the bell at the Stock Exchange, and then you put things into play in the New York timetable of that day, he was right there.

That's how close KSL came from a corporate level.

Here we have the CEO of Bonneville International.

You couldn't say that one cleared up the other, but still it did so happen that both came out in the same minute.

There was a boy whose name was Pratt, and his father was on the Stock Exchange of London.

This father used to go out to his lunch, and at these times he saw many curious things sold by wandering London men who are too poor to keep shops, but yet have the wish to sell things.

These men stand by the pavement and display most queer and uncommon curiosities, such as walking spiders and such like, and once from one of these men Pratt's father bought quite a new sort of pencil sharpener of the rarest kind.

Yes.

The entire Nigerian stock exchange has a market cap of $114 billion.

[laughs]

There are, like, four or five companies that you can almost never go wrong buying.

So those three areas right now.

Mm.

I, I think from a capital markets perspective, 'cause I, I realize a lot of the time the reason why retail does not necessarily go into Nigerian stock exchange is the barriers to entry, right?

Right.

So it's 48 hours

... near outside the New York S- Stock Exchange, showing him like walking strongly with photographers behind him.

Photographer said-

Yeah

It's possible

... kind of just down there, not in an official capacity, but just digging through and doing whatever they could?

And look, to say he immediately went there, you know, look, w- we're talking in o- one point you can see him near Ground Zero, l- as in the New York Stock Exchange, a week later, a few days later.

Uh, but it certainly at, at the very least seems like a fairly significant embellishment, and that's the last thing actually we want to hear from anyone, certainly a leader, certainly the president, and especially when it comes to September 11th.