Everett Edward Klipp (October 8, 1926 - January 28, 2011), also known as the "Babe Ruth" of the

Chicago Board of Trade The Chicago Board of Trade (CBOT), is an American futures exchange, futures and options exchange that was founded in 1848. On July 12, 2007, the CBOT merged with the Chicago Mercantile Exchange (CME) to form CME Group. CBOT and three other excha ...

(CBOT), was a mentor to Frank Peard, John Horner,

Mark Spitznagel Mark Spitznagel (; born March 5, 1971) is an American investor and hedge fund, hedge fund manager. He is the founder, owner, and chief investment officer of Universa Investments, a hedge fund management firm based in Miami, Florida. Klipp was born in Manteno, Kankakee County, Illinois. After a hardscrabble childhood and adolescence on a dairy farm, he enlisted in the Navy and served in the Pacific Theater during World War II. Following the war, Klipp found work as a messenger for a member firm at the CBOT. He advanced rapidly and bought a seat on the CBOT in 1953, eventually founding Alpha Futures, which became a major firm at the exchange. Especially to the traders he trained, Klipp emphasized the importance of knowing how to take a loss, and the necessity of abandoning a losing position before it became a disaster.Out of the Pits, Caitlin Zaloom, p132
/ref>

References

Sources

''Out of the Pits Traders and Technology from Chicago to London,'' Univ of Chicago Press, 2006 (paperback 2010)

References

Sources

Further reading