Joe Ritchie
Encyclopedia
Joseph Ritchie is a commodities and options
trader
, the founder of Chicago Research and Trading, whose capital went up from $200,000 to over $225 million in 11 years. According to BusinessWeek
, "Ritchie is widely acknowledged to be one of the sharpest minds in the options business".
As an avid aircraft owner/operator, Joe Ritchie and his personal friend and mentor, record-setting balloonist Steve Fossett
, captured 4 world records previously held by Chuck Yeager in a Piper Cheyenne 400LS. Flying a Piaggio P.180 from San Diego to Charleston, S.C. on February 6, 2003, Ritchie and Fossett averaged 546.81 mph, setting a class transcontinental record and, in the process, establishing new point-to-point records from El Paso to Charleston and Fort Worth, and from Fort Worth to Atlanta. The transcontinental speed record was selected as one of the National Aeronautic Association
's Most Memorable Aviation Records of 2003. He has also served as chief of mission control on all of Fossett's missions.
In 1989 Ritchie committed $ 30 million of his own cash to buy Eastern Airlines. In 2000, he and his brother James tried to unite Afghanistan
and overthrow the Taliban. In 1988, Abel Aganbegyan
who at the time was Mikhail Gorbachev
's chief economic advisors said about Ritchie My dear friend Joe Ritchie is able to use socialist principles and still make a profit.
Joe Ritchie also served as the CEO of the Rwanda Development Board until end 2009.
Option (finance)
In finance, an option is a derivative financial instrument that specifies a contract between two parties for a future transaction on an asset at a reference price. The buyer of the option gains the right, but not the obligation, to engage in that transaction, while the seller incurs the...
trader
Trader (finance)
A trader is someone in finance who buys and sells financial instruments such as stocks, bonds, commodities and derivatives. A broker who simply fills buy or sell orders is not a trader, as they are merely executing instructions given to them. According to the Wall Street Journal in 2004, a managing...
, the founder of Chicago Research and Trading, whose capital went up from $200,000 to over $225 million in 11 years. According to BusinessWeek
BusinessWeek
Bloomberg Businessweek, commonly and formerly known as BusinessWeek, is a weekly business magazine published by Bloomberg L.P. It is currently headquartered in New York City.- History :...
, "Ritchie is widely acknowledged to be one of the sharpest minds in the options business".
As an avid aircraft owner/operator, Joe Ritchie and his personal friend and mentor, record-setting balloonist Steve Fossett
Steve Fossett
James Stephen Fossett was an American commodities trader, businessman, and adventurer. Fossett is the first person to fly solo nonstop around the world in a balloon...
, captured 4 world records previously held by Chuck Yeager in a Piper Cheyenne 400LS. Flying a Piaggio P.180 from San Diego to Charleston, S.C. on February 6, 2003, Ritchie and Fossett averaged 546.81 mph, setting a class transcontinental record and, in the process, establishing new point-to-point records from El Paso to Charleston and Fort Worth, and from Fort Worth to Atlanta. The transcontinental speed record was selected as one of the National Aeronautic Association
National Aeronautic Association
The National Aeronautic Association of the United States is a non-profit 501 organization and a member of the Fédération Aéronautique Internationale , the international standard setting and record-keeping body for aeronautics and astronautics. NAA is the official record-keeper for United States...
's Most Memorable Aviation Records of 2003. He has also served as chief of mission control on all of Fossett's missions.
In 1989 Ritchie committed $ 30 million of his own cash to buy Eastern Airlines. In 2000, he and his brother James tried to unite Afghanistan
Afghanistan
Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...
and overthrow the Taliban. In 1988, Abel Aganbegyan
Abel Aganbegyan
Abel Gyozevich Aganbegyan is a leading Soviet and Russian economist of Armenian descent, academic of Russian Academy of Sciences and honorary doctor of business administration of Kingston University, the founder and first editor of the journal EKO....
who at the time was Mikhail Gorbachev
Mikhail Gorbachev
Mikhail Sergeyevich Gorbachev is a former Soviet statesman, having served as General Secretary of the Communist Party of the Soviet Union from 1985 until 1991, and as the last head of state of the USSR, having served from 1988 until its dissolution in 1991...
's chief economic advisors said about Ritchie My dear friend Joe Ritchie is able to use socialist principles and still make a profit.
Joe Ritchie also served as the CEO of the Rwanda Development Board until end 2009.