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How DIY Bond Traders Displaced Wall Street’s Hot Shots

relates to How DIY Bond Traders Displaced Wall Street’s Hot Shots
Photographer: Jin Lee/Bloomberg
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Time was, Sherman McCoy could stride into Pierce & Pierce to bray for money on the bond markets with other Masters of the Universe.

That was 1987. McCoy, the hotshot bond dealer at the center of the “Bonfire of the Vanities,” would be 66 by now, and he’d scarcely recognize the Treasury market.