Rumor: Bright Trader blows up and loses millions

Discussion in 'Prop Firms' started by Daal, Aug 18, 2008.

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  1. John Arnold is a monster. Just wiki him.
     
    #121     Aug 26, 2008
  2. I would suggest the number may be a "tad" higher because when that news broke, there was approximately 1.2 million shares sold in what appeared to be 3 massive 400k share chunks from 11 down to 10. No institutional player would have liquidated in the post market hours. I bought 250k from one of these orders from 10.50 to 10.10 - yes it paid nicely.
     
    #122     Aug 26, 2008
  3. #123     Aug 27, 2008
  4. #124     Aug 27, 2008
  5. OK, he IS a monster, trading-wise.
    ......but what happened in those first 6 months at Centaurus ?
    Were they down big or what ?
     
    #125     Aug 27, 2008
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    #126     Aug 27, 2008
  7. Don't know about his career at Centaurus but when he was working for enron he punked some firm that was overleveraged in a natural gas position I believe. I think over 40-50% of his wealth was from that.
     
    #127     Aug 27, 2008
  8. jem

    jem

    I am not sure if we are talking about the same trade. But if by punked you mean gave them a don't know or did not deliver - you might be correct.

    One of the traders in my office (back then) worked for an energy trading concern in Greenwich.

    Enron - screwed them out of millions so they had to close their doors and not deliver on their trades.
     
    #128     Aug 27, 2008
  9. The wiki states that he earned $8MM in his final year at Enron and used the funds to start Centaurus. He earned $750MM for Enron that year, but netted $8MM personally.
     
    #129     Aug 27, 2008
  10. thats my definition of punked
     
    #130     Aug 27, 2008
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