It's not a minor nitpick. The author mis-explains what futures contracts are in a very fundamental way. There's an NPR article about this same topic: https://w

It's not a minor nitpick. The author mis-explains what futures contracts are in a very fundamental way. There's an NPR article about this same topic: https://www.npr.org/sections/money/2013/07/19/201430727/what-actually-happens-at-the-end-of-trading-places https://www.npr.org/sections/money/2013/07/19/201430727/what... "Winthorpe and Valentine have contracts allowing them to buy millions of pounds of orange juice in April for 29 cents a pound, and to sell it for $1.42 a pound. They sold high and bought low. They're rich. The Dukes made the opposite bet and went broke."