John Arnold, a fund hedge manager and former Enron star trader worth $3.5 billion, has announced he will retire - aged just 38. The Texas native made his billions through his own energy trading firm, Centaurus Advisors, after Enron went bust following its trading scandal in 2001. Arnold, who is the country's 337th richest person, is now closing the company so he can 'pursue other interests', he wrote in a letter to investors, who will have all their money returned. http://tinyurl.com/d863wsc
Damn, that's impressive and humbling. Anyone here familiar with the nature of his trading? Style, duration, that sort of thing.
how do you get to 3.5 billion from zero by age 38? serious question.:eek: he must be the greatest trader in the whole world and here i thought i was
I think they said on Bloomberg this morning that his latest fund just went bust trading nat gas. Someone please correct me if I'm wrong.
He started out in the back office at Enron and moved up to trading. He left Enron in 2002 with a million dollar bonus and started his firm. Within 5 years he was a billionaire. The youngest billionaire in the history of the US. His fund got off to a good start making over 100% returns the first 5 years. A few of those years the returns were over 250% and 300%.