Last spring the futures industry lost a great contributor and teacher when Reynold Dahl passed away. Nearly 50 years ago, Reese (as he was known) developed the first course dedicated to futures markets at the University of Minnesota. He was my graduate school advisor when I took his course in 1980. Reese blended academic theory and real-world knowledge to introduce students to futures trading and the principles of price risk management. Today, I teach "Futures and Options Markets." I continue to useReese's outline and emphasize the same principles of risk management. But even Reese would agree that much has changed since 1980.
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