Michael Forrester, Sr.

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Michael Forrester, Sr.
MikeForresterSr.jpg
Occupation Independent Trader
Employer Chicago Board of Trade
Location Michigan

Mike Forrester Sr. is a 50-year member of the Chicago Board of Trade and former brokerage executive.

Background[edit]

Forrester started out at the CBOT as a runner for the old Uhlman Grain Company in 1963 at age 22. He became interested in the markets and started trading job lots on his own. After rising quickly at Uhlmann, he was sent to Grand Rapids, Michigan for training in securities trading, where he earned a Series 7 registration.

He returned to Chicago after a year in Michigan and began trading small lots for his own account, joining Garvey Grain after some success at this. In 1965 he bought his CBOT exchange membership. While at Garvey, he attracted the attention of some other exchange members who asked him to join their firm, Hennessy & Associates, as a partner.

Forrester later had his biggest success when he became a partner of Ray Gerstenberg, Sr. in his trading firm. Gerstenberg, whose ancestor had been a founding member of the CBOT, asked Forrester to become his partner, and Forrester later stayed on as CEO of Gerstenberg until 1986, when he sold the firm to fellow CBOT member firm O’Connor Grain.[1]

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