Charlie D. : the story of the legendary bond trader

Like a modern day Colossus, his larger-than-life presence loomed over the top step of the Treasury bond pit at the Chicago Board of Trade (CBOT). His unchallenged prowess in the pit earned him much more than financial rewards, for to see him in action was to witness a virtuoso working at the top of his form. In recognition, his admiring peers and colleagues affectionately dubbed him the Sultan of Scalp, after another legendary powerhouse, Babe Ruth. Who was this extraordinary man? Charles P. DiFrancesca, or as he was known throughout the financial world, Charlie D, the greatest trader of his time. Like Buffett is to the stock market, and Soros to the daring alchemy of hedge funds, Charlie D is to the world's largest futures trading pit in U.S. Treasury bonds. Yet, for all his phenomenal success, Charlie D never once granted an interview. He never revealed his trading secrets to any but a few close friends. Now, in this unprecedented and eagerly awaited biography, financial reporter William Falloon chronicles the remarkable life, achievements, and strategies of this elusive, enigmatic, and fascinating figure. A natural born risk-taker, Charlie D approached trading as the ultimate sport. His daily trading positions were often larger than those of the banks and corporations which traded against him. His flare for life dazzled those around him, whether battling volatile market swings in the bond pit, tossing the dice at the craps table in Las Vegas, relentlessly pursuing the perfect golf swing, or playing one of his notorious practical jokes. Beneath the flamboyance, however, there was a quieter, less assuming side to Charlie D, a salt-of-the-earth midwesterner in striking contrast to the popular media image of greedy market inhabitants. Charlie D was a world-class philanthropist. From cab drivers to valet attendants, from washed-out traders to close friends and family, from former high school football coaches to leading medical researchers, he gave and gave and gave. Perhaps the ultimate legacy of Charlie D will be his ferocious tenacity in the face of personal tragedy. When an aggressive lymphoma attacked his system-and his brother and mother were also diagnosed with cancer-Charlie D grew more determined than ever to live life to the fullest. His outlook never changed. Returning to the CBOT's bond pit between chemotherapy and radiation treatments, he donned a protective vest beneath his jacket and resumed his position on the top step, where he remained until two weeks before his death on May 23, 1991. Told with a style and flair equal to its unique subject, Charlie D. unfolds like a great detective story with the author in hot pursuit of his reluctant quarry. Deftly interweaving intimate, personal detail with technical explanation, William Falloon paints a richly detailed, compelling portrait of Charles DiFrancesca, the man behind the myth of Charlie D. What emerges from this expansive biography is a penetrating exploration of the psychology of success. 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"Falloon's eloquent explication of the life of the legendary Charlie D delivers a good read while exposing that most under-publicized commodity of them all-a mega-trader with a low public profile whose superhuman trading abilities were exceeded by only one thing-the extended reach of his heart and soul." -Patrick H. Arbor Chairman, Chicago Board of Trade "Charlie D. is a tribute to the entrepreneurial spirit of Charlie D, whose legend still lives today on our trading floors. It also captures the essence of the men and women of Chicago who, working in a unique environment, through their trading provide economic benefits around the world." -Thomas R. Donovan President and Chief Executive Officer Chicago Board of Trade "Charlie D was unique-a poker-faced, unemotional, swashbuckling trader every other trader seeks to emulate. At the same time, he was also a model of trading integrity and one of the most generous people I have ever known. Whether trading or gambling, vacationing with family or go lfing with superstars, he did everything with a special flair and spirit. Charlie was truly larger than life." -Thomas DeMark Author of The New Science of Technical Analysis and New Market Timing Techniques "Falloon captures the essence of the Charlie D I knew and rekindles my memories of a larger-than-life individual-how he laughed in the face of cancer, his generosity, and his sense of humor." -Mike Manning Rand Financial Services, Inc. "Charlie D was the most dynamic trader I've ever seen in my nineteen years in this business, and, beyond that, the best human being I've known." -Tom Fitzgerald TPF Trading "A natural born risk-taker, Charlie D approached trading as the ultimate sport. His daily trading positions were often larger than those of the banks and corporations which traded against him. His flare for life dazzled those around him, whether battling volatile market swings in the bond pit, tossing the dice at the craps table in Las Vegas, relentlessly pursuing the perfect golf swing, or playing one of his notorious practical jokes.". "Beneath the flamboyance, however, there was a quieter, less assuming side to Charlie D, a salt-of-the-earth midwesterner in striking contrast to the popular media image of greedy market inhabitants. Charlie D was a world-class philanthropist. From cab drivers to valet attendants, from washed-out traders to close friends and family, from former high school football coaches to leading medical researchers, he gave and gave and gave.". "Perhaps the ultimate legacy of Charlie D will be his ferocious tenacity in the face of personal tragedy. When an aggressive lymphoma attacked his system - and his brother and mother were also diagnosed with cancer - Charlie D grew more determined than ever to live life to the fullest. His outlook never changed. Returning to the CBOT's bond pit between chemotherapy and radiation treatments, he donned a protective vest beneath his jacket and resumed his position on the top step, where he remained until two weeks before his death on May 23, 1991."--BOOK JACKET.