Earlier this week, Commodity Futures Trading Commission Chairman Gary Gensler clarified that no matter what you might have assumed back in 1983, Billy Ray Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) did not commit insider trading when they made millions trading on orange juice futures in the movie Trading Places. As you may recall, Billy Ray and Winthrop intercepted a confidential Department of Agriculture “crop report” on orange crop forecasts, and used it to successfully sell short and corner the orange juice futures market before the report was publicly announced (and to simultaneously ruin the Duke brothers, who lost $394 million based on a false copy of the report).
