Todd “Bubba” Horwitz takes a look at the American public school system, in general, and is not too pleased.
“They’re raising a bunch of morons,” he said. “It’s all a bunch of crap, in my opinion.”
Horowitz has worked in the stock markets for 36 years, is a member of the Chicago Board of Trade, just put out a new book, and has helped set up a program meant to teach business to teens. The Riverwoods resident created High School Investing with Deerfield High School business instructor Joe Navickas, and just released “Bubba’s Guide to Trading Options” with Tate Publishing.
Q: “Bubba” is not a name one would expect to find in the world of finance, and you use that as an attention-grabber. How did your nickname come to be?
A: There’s a big story to it. Back in the late ’60s, there weren’t many 6-foot-3 centers playing football. That was the era of Bubba Smith. They just gave me the name Bubba. But I wasn’t that good —because I’m trading, and not retired from football. I got into the stock market from there. When you become a floor trader, you had to have a badge with an acronym for your name on it. I tried to get T.S.H., but the didn’t have it, because it was already taken. So I went with B.U.B. That actually becomes your trading name, forever.
Q: Options aren’t the same as stocks. How do you explain stock options to high schoolers?
A: A stock is, you’re actually buying ownership in the company. When you buy an option, you’re buying what’s called a derivative. You’re buying the option to buy or sell that stock, by a certain date, for a certain price. I have the right, but not the obligation.
Q: As teachers spend more time on numbers and calculations, are students learning how to function in a [changing] environment lawless?
A: You might be creating better engineers and scientists. The problem is that stock options don’t always go by rules. The key to trading is discipline. You’re knowing how to convert fractions in under a second for a major order. But it’s much more than calculations. The kids I see, they don’t have any social skills. They’re very rule-based. That won’t work in the real world.
— Ronnie Wachter, Pioneer Press