Ask a Market Wizard -- Larry Benedict AMA

Pekelo

Pekelo

Scheduled for next Monday on Reddit:

"My name is Larry Benedict and I am hosting an AMA on /r/Wallstreetbets on 2/25/19 1:00pm. I own and run Banyan Equity Management which at its peak managed just shy of 1 billion dollars between the two funds I managed (700mil/200mil). I am a short term discretionary trader who trades Futures, Options, and Equities. I am starting up my fund again because I see potential in the future Vis-à-vis volatility"

He was featured in a book series called "Market Wizards" and his chapter is right after Ray Dalio's. He lost it all 3 times trading index options on the trading floor before he got anywhere.

https://twitter.com/opptrader1
 
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Interview with him (67 mins audio):

https://blog.topsteptrader.com/larry-benedict-limit-up-futures-trading

"If you saw Larry Benedict's trading early in his career, you wouldn't expect him to be successful. He couldn't stop losing money. In Hedge Fund Market Wizards, Jack Schwager titled his chapter "Beyond Three Strikes."

But there's a reason that Schwager put Benedict in Chapter 3, right after Ray Dalio — who runs Bridgewater Associates, the largest hedge fund in the world. It's because Benedict has a track record that rivals them all: 20 years of gains. Perhaps more impressive, during the run from 2004 to 2012, his fund returned 11.5% per year net of fees with just a 5% maximum drawdown. (Don't forget what happened in 2008 and 2009 to markets!)

Topstep's Eddie Horn caught up with Larry in this episode of Limit Up! to talk about his trading, how he's become so successful, what he's learned along the way, and why he launched The Opportunistic Trader as a way to bring hedge fund-like knowledge to retail futures traders. "
 
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