FYI: The two men had decided that a second Great Depression was imminent.
The first man, John Gutfreund, was the CEO of Salomon Brothers. Business Week had dubbed him the “King of Wall Street” in 1985. The second man, Craig Coats Jr., led Salomon Brothers’ government-bond trading group. The year was 1987, and Michael Lewis, who would one day become a famous chronicler of Wall Street, was a young trader witnessing investors scramble to address the stock market crash now known as Black Monday.
Regards,
Ted
http://priceonomics.com/the-history-of-the-black-scholes-formula/
