GMB #130: Innovation in Stock Market Structure: A 40 Year History Lesson With Kenny Polcari

With the widespread adoption of retail investing and the usage of handheld devices, investing and stock trading have become easier than ever. However, in the 1980s, it used to be an entirely different story. This week on Grow Money Business, we bring you an informative and entertaining conversation with a stock trading veteran who has been in the industry during many of the defining moments of the financial markets over the last four decades. Kenny Polcari, Managing Partner Kace Capital Advisors, joins us today to dive deep into how the stock market structure has evolved over the last few decades.

 

 

Show Notes

[02:54] Getting to Know Kenny – We start the conversation with Kenny’s long career in the financial sector and discuss what the New York Stock Exchange was like when Kenny began his career in the 80s.

[08:16] Building a Career – Kenny reflects on a couple of stories from the early years of his career and how he progressed through the industry.

[15:23] Stock Trading in the 80s – Kenny talks about the way stock markets worked in the 80s and why that environment was exciting.

[22:50] Members of Stock Exchange – Kenny explains the role of a member of the New York Stock exchange.

[27:17] Technology – Kenny discusses early applications of computer-based analytics for financial markets and how relying too much on technology led to a meltdown in the financial markets across the globe.

[42:19] The Tech Boom – Kenny shares his thoughts on how the massive expansion of technology that took place in the 90s shaped the financial markets.

[48:36] The Evolution – How the stock markets and the technologies used for stock trading has evolved over the last few decades.

[54:06] Impact of 9/11 – Kenny reflects on how the September 11th attacks destroyed the infrastructure of the New York Stock Exchange and the process of recovering from that destruction.

[1:00:55] Modern Stock Trading – How the modern stock trading systems make use of the latest technology available in order to make stock trading more reliable and immune to threats.

 

Resources

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