Ernest W. Naiditch

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Naiditch, Ernest W. 1930-2013. Ernie Naiditch was one of the pioneers on the Chicago Board Options Exchange, where he was a very successful market maker and served on the Board of Directors. He initiated a migration of Minnesotans, who would begin as Ernie's clerks and then would graduate to become traders. Ernie, 83, died Wednesday, November 27th. Ernie was born and raised in Minneapolis, MN and graduated from Washburn High School. He served in the Korean War. He worked as a stock broker until he joined the family scarf and dress manufacturing business. In 1961, he married Barbara Alexander Naiditch, and they eventually moved to Highland Park, IL. In 1975, Ernie finally found his dream job on the Chicago Board Options Exchange. He was a master of quick thinking, required in the open outcry system. Known for stalwart discipline, Ernie wasn't afraid to cut his losses, enabling him to go unscathed during steep market declines. Ernie retired from the CBOE in 1998. Ernie was a family man. Leading by example, he made sure his children and grandchildren understood the importance of hard work, hard play, and good deals. During his years on the CBOE, he stood in the pits for six hours without eating or going to the bathroom. After work, he made sure every one of his family members knew how to handicap horse races and play Black Jack, Backgammon, and Monopoly. His three-car garage was filled to the rafters with discounted groceries. Ernie had a great sense of humor and was a very gentle man. Ernie is survived by his wife of 52 years, Barbara Naiditch of Highland Park, IL; his son Marty Naiditch, of Zion, IL; his son Mike Naiditch, of Chicago, IL; and his daughter Susie Mirman, of Las Vegas, NV. He is also survived by five grandchildren. Services will be held at 2:30 pm on Friday at Shalom Memorial Funeral Home, 1700 W Rand Road, Arlington Heights, IL (847-255-3520). Interment Shalom Memorial Park. In lieu of flowers, donations may be made to the charity of your choice. Condolences: shalom2.com.

Published on November 28, 2013