Saturday, November 03, 2012

Thomas Peterffy Explains Life, Liberty, and the Pursuit of Happiness

It would appear that this one-minute ad was paid for by Thomas Peterffy, an immigrant from what was once communist Hungary. Peterffy went from being an architectural draftsman, to a computer programmer, to purchasing a seat on the American Stock Exchange, where he was instrumental in the development of electronic securities trading. He is the founder of Interactive Brokers (Nasdaq: IBKR) and was also a key player in founding the Boston Options Exchange.

“I grew up in a socialist country, and I have seen what that does to people ...”

Those who come to America really do see it as "the land of opportunity." They also see when that is at risk, by witnessing the same unfolding of events from which they escaped elsewhere. His is not the only story of this sort which we'll be presenting over the weekend. It is a cautionary tale for the rest of us, as we head to the polls on Tuesday.

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