People

Richard Dennis

Richard Dennis

Formal First Name
Richard
Nick Name
Prince of the Pit
Dates
1/9/1949 - present

Richard Dennis was a long time commodities trader who earned the nickname the “Prince of the Pit.” He began his career as a runner at the Chicago Mercantile Exchange at the age of 17 and a few years later was trading for his own account from the floor of the Chicago Board of Trade Building. His rise to fame came when he took a $400 trading account and turned it into $200 million within ten years. He became more legendary when he embarked on a famous experiment to teach ordinary people with no trading backgrounds how to trade.

The movie “Trading Places” was based on this real-life story.