Casino floor or trading floor, Bob Bright has forever sought an edge for favorable odds…
Counting cards in Las Vegas, calculating three-way options at the Pacific Exchange, pairs trading correlated stocks, exploiting the tracking error of leveraged ETFs; Bob’s always pursued a mathematical advantage to win the game.
Also considered by many as a pioneer of proprietary trading, Bob and a partner formed Bright Trading in 1992—at its peak, the firm was home to 490-traders across 42-offices in the U.S.
Today, at 80-years of age and undoubtedly a market legend, Bob remains an active trader and a serious high stakes poker player.
Topics & Timestamps:
Please note: Exact times will vary depending on current ads.
- 02:43 – Leaving the corporate world, playing blackjack, beating Las Vegas casinos.
- 08:26 – Buying a house cash, being tracked by security, team play with Ken Uston.
- 18:40 – The Pacific Exchange, three-sided options trades, computerised trading.
- 24:40 – If you were to watch over Bob’s shoulder during the trading session…
- 28:40 – Uncovering a mathematical edge in leveraged ETFs vs non-leveraged ETFs.
- 41:57 – Having an edge in financial markets, considerations for new traders.
- 54:00 – The importance of discipline and managing tilt—in trading and gambling.
Links and resources mentioned:
- Playing Blackjack as a Business – Lawrence Revere [Amazon]
- 078: Know Your Edge, Exploit Your Edge w/ Blair Hull
- 109: The Man Who Beat The Dealer w/ Edward Thorp
- 129: Optimal Bet Sizing w/ Victor Haghani (LTCM)
- Dissecting Leveraged ETFs Returns [Investopedia]
- Ken Uston [Wikipedia]