To Make A Killing
Arthur Cutten
The Man Who Ruled The Markets

Published by McGill-Queen’s University Press, To Make A Killing is the first in-depth biography of Arthur Cutten, one of the greatest speculators of the 1920s.

Almost forgotten today, Cutten was a legend in his time. Arriving in Chicago in 1890 with ninety dollars in his pocket, he slowly amassed a fortune. With utter ruthlessness, he conducted corners and bear raids, buying and selling more wheat and corn than anyone before. On Wall Street, he manipulated prices, engaged in wash trading, and promoted shares to a gullible public.

He piled up profits equivalent to $1.5 billion today. Heralded as the modern Midas, his every move was followed by the masses who believed they too could get rich quick. But when the Crash came, when the good times turned bad, this hero of prosperity became the villain of the Great Depression.

To Make A Killing tells the tale of Cutten’s journey to fabulous wealth, the forces that propelled him, and the fascinating characters in his life.

Market Magician to Crash Catalyst

Market leaders, entrepreneurs and business visionaries are discovering the secrets of Arthur Cutten in the latest episode of Inside the Ice House, a podcast produced by Intercontinental Exchange, Inc. (owner of the NYSE and other exchanges).

Based on the new book To Make A Killing by Robert Stephens, the podcast discusses the enigmatic speculator who pulled the levers of the financial markets a century ago.

Don’t miss it. Click here.


A detailed, interesting account of those wild times and how a young man from Guelph came be known as a market king in the unfettered world of U.S. finance.
Winnipeg Free Press

Arthur Cutten has until now rested in obscurity … To Make a Killing is a revealing biography.
Wall Street Journal

To Make a Killing details Cutten’s path to immense wealth and notoriety, starting with his early days working the Chicago Board of Trade’s famous “wheat pit” and ending with all the makings of a true-crime drama: murder, mobsters and (maybe) hidden treasure.

A fresh and engaging adventure.
Joe Martin, co-author of From Wall Street to Bay Street

As a lad from Guelph, Cutten’s home town, I thought I knew something about him. But my knowledge was meagre compared to what is now revealed in the new book To Make A Killing. It is a fast-paced story, rich in detail, and a recommended read!
Rod McQueen, author of a number of award-winning books including The Eatons and Who Killed Confederation Life?

Untitled design (4)

Robert Stephens began his career as an investment advisor and securities analyst before entering journalism.

For over a decade, he was a business and investigative reporter with the Globe and Mail, Toronto Star, and Ottawa Journal.

He was appointed Communications Advisor to an Ontario Cabinet Minister, and later was named Communications Director for the Ministry of Industry, Trade and Technology.

He is currently president of PR POST, a public relations agency based in Toronto.

Robert studied at Tulane University in New Orleans and graduated with an Honours B.A. in English Literature.

Order Now