George Gero started out as a floor clerk on the New York Stock Exchange in 1959. He has been a witness to the growth and changes in the markets over the years, becoming a member of NYMEX, COMEX, the American Stock Exchange and PHLX later on. In this John Lothian News Profile, Gero talks about some of the changes he has witnessed, and participated in, throughout his long history in the markets, from the birth of the West Texas Intermediate (WTI) crude oil contract on NYMEX, through decimalization and of course the technology revolution, which changed the entire culture of the futures industry.
Known for sharing his expertise on precious metals in numerous TV interviews, Gero says he wasn’t always bullish on gold, and explains why gold is a “misunderstood asset.” He has learned a number of lessons in his long career in the markets, including how traders use buy stops and sell stops, and that event driven selloffs in the futures markets are sure to find a retracement soon after.
Produced by Mike Forrester
Interview by Sarah Rudolph