203: Bob Bright – The Pursuit of Edge

Chat With Traders

Tessa Dao

Education, Business, Investing

4.9 • 2.3K Ratings

🗓️ 18 September 2020

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Casino floor or trading floor, Bob Bright has forever sought an edge for favorable odds… Counting cards in Las Vegas at blackjack tables, 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. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:03.0	Tasty trade previously known as tasty works is a registered broker dealer and member of FINRA, NFA, and SIPC.
1:14.0	Markets, speculation, and risk. This is the chat with traders podcast hosted by Aaron Feifield.
1:23.0	Welcome back traders. I am Aaron Feifield and thank you for joining me. This is episode 203.
1:31.0	Today, my guest is the great and legendary Bob Bright.
1:36.0	Though unless you follow Highstakes poker, or you were maybe a prop trader during the 90s or early 2000s, it's likely you're unfamiliar with this man.
1:46.0	In short, it was 1974 when Bob Thruin, a corporate job, moved his family out to Las Vegas and went all in on Blackjack.
1:56.0	Four years later, having consistently beat the casinos, Bob went on to the Pacific Exchange in California and traded options on the floor.
2:06.0	Then in 1992, Bob and a partner formed Bright Trading.
2:11.0	A prop firm which at its peak was home to 490 traders across 42 offices in the United States.
2:20.0	Bright trading still exists today, but on a much smaller scale.
2:24.0	Now at 80 years of age, Bob remains an active market trader and he is also a serious Highstakes poker player.
	...

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