There seems to be some difference in the moment-to-moment intensity of an auction theory class and that of an actual auction.  Especially when the S&P is amidst an epic tank.

As evidence of that proposition, here is the highly-recommended audio from an auction pit in Chicago.  Sounds pretty exciting listening to a trillion dollars in wealth evaporate. So exciting, in fact, that I just set the “79s are trading” part as my ring tone.

I guess the LSB Chicago trip made it there a day late for this mayhem.  I look forward to hearing all about it.  Was there blood on the floor?

And, speaking of the Chicago trip, what is there to say about the level of awesomeness of the LSB program at this point? To quote Ben Lichtenstein from our audio clip, “Stop it, it’s got to hit a limit.”

(Picture taken from the Brokers with Hands on Their Faces blog).