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By Seidel W., Mosler K., Alker M.

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Extra info for A Cautionary Note on Likelihood Ratio Tests in Mixture Models

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He had come a long way from his days as a school teacher before he got his big break in the City. He no longer had the desire you need to make it from scratch on the Liffe floor. After registering for the training sessions he would usually sneak off to the pub, the natural milieu of many a South Wales native. Here you could often find him in animated discussions on the performance of the Welsh national rugby team. He loved to get into heated debates at the bar and he would always have a rugby story to tell to his circle of friends that congregated alongside him.

Fortunately, he had a thick skin and just accepted his new name with grace. Each day you would hear dealers answer to names which had their own story like BFG (which could be short for big friendly giant or big fat git, depending on how you saw the big man), Cabbage, Crazy, Fraggle, Grebbo, Gripper, Gurner, Lardy, Lurch, Mad Dog, Psycho and Simply. Some would even change the trading badges on their jackets to match their nicknames. I think I got off lightly as far as nicknames went. I was known at Johnny Red in the early days because I quoted prices in months known as ‘the red months’.

When he made his first hesitant steps back on to the short sterling pit floor he looked up to see his old dealing pals spontaneously erupt with a vocal rendition of Elvis Presley’s ‘Return to Sender’. Only the lyrics had been changed to Return to Samuel. ‘Return to Samuel, pay unknown, no BMW, no car phone …’ Having a punt on the horses was a popular pursuit among many floor traders. Dogsy and a few of his mates in the gilt pit would regularly have a flutter on the races. A tall slim broker called Legsy would relay commentary from a nearby booth when a big race meeting was held.

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A Cautionary Note on Likelihood Ratio Tests in Mixture Models by Seidel W., Mosler K., Alker M.

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