Rumor: Bright Trader blows up and loses millions
- Thread starter Daal
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Ouch! Sounds even more serious ...get well soon.
A few short months into his fund launch, John Arnold took a pretty good drawdown. His investors thought enough of him that they threw more money at him - they were getting in cheaper. That was the genesis of my previous 'double-down' comment.
Oh, and dipshits, John Arnold made his money after Enron and not before. He is a legend in OTC energy. He was a very good, totally legit trader at Enron - he left because his bonus was an insult (big surprise from Enron).
He was on the other side of the last two energy hedge fund blowups, including Brian Hunter's work of art. That's what really sank Amaranth - Brian Hunter decided to get into a pissing match with John Arnold.
Last Fall Centaurus started hitting my heat rate bids, and I just pulled all my orders and turned around and started hitting ICE gas swap bids, because that fund ALWAYS has a very serious ax to grind my friends.
Oh, and dipshits, John Arnold made his money after Enron and not before. He is a legend in OTC energy. He was a very good, totally legit trader at Enron - he left because his bonus was an insult (big surprise from Enron).
He was on the other side of the last two energy hedge fund blowups, including Brian Hunter's work of art. That's what really sank Amaranth - Brian Hunter decided to get into a pissing match with John Arnold.
Last Fall Centaurus started hitting my heat rate bids, and I just pulled all my orders and turned around and started hitting ICE gas swap bids, because that fund ALWAYS has a very serious ax to grind my friends.
who cares
I am very sorry to hear that Don.
I met you in JC. You are a wonderful person.
I wish you a speedy recovery; Get well soon..
Best
Don and Family are a nice bunch of people. Everyone should layoff with the rude comments. Your all just jealous you dont have a few million to lose so quit rubbing these stories in their faces. What do you care anyway are you gonna pay it off?
I met the Brights personally. When I went to Vegas and toured their facility they knew very well how to run things.
Last these guys are the real deal our group walked into a Casino and I personally watched Don Bright count those cards to a very nice profit within 30 minutes, then we were escorted very quickly by the casino to the front entrance.
I met the Brights personally. When I went to Vegas and toured their facility they knew very well how to run things.
Last these guys are the real deal our group walked into a Casino and I personally watched Don Bright count those cards to a very nice profit within 30 minutes, then we were escorted very quickly by the casino to the front entrance.
When I first saw this thread, I scrolled through the pages and labeled it as another attempt at trolls bashing the sponsors. Haha. Only on ET do they let you take a stab at the sponsors. Then all of the ET residents come in to PM poor Don Brite so he can come to this forum to explain himself and tell us how wrong the trolls were...
Then, I thought, wait a second...hasnt Don for the last few years shunned us all... stating how wrong we were for predicting market direction and that we were fools...that his non-market direction techniques work. I guess I could waste my time and bring back hundreds of threads where Don was telling us how foolish we were for predicting the direction of the markets. Then what about all those times Don came on here to tell us how his firm was so dead set on risk management and has so many controls in place.
Now one of his very own loses a few million on a highly leveraged trade very much like Schindler, Neiderhof, and Bill Miller and all the ET citizenry.
Don then comes on here to tell us that we need not worry and all is well...wait a second Don, I have a few questions to ask you. What happened to your winning market neutral methods? What happened to all the risk management? Are we still fools when it comes to the market?
I realized this thread wasnt about some trolls simply bashing a sponsor which is usually the case on ET, but about the truth being revealed.
Don, please do not simply brush this thread aside and state its none of our business. It was you calling us a bunch of fools this whole time stating how our market direction techniques was for idiots. It was you who smiled and teased us in clown outfits stating what a bunch of monkeys we were.
Well, now its your turn Don for a little humility...
Then, I thought, wait a second...hasnt Don for the last few years shunned us all... stating how wrong we were for predicting market direction and that we were fools...that his non-market direction techniques work. I guess I could waste my time and bring back hundreds of threads where Don was telling us how foolish we were for predicting the direction of the markets. Then what about all those times Don came on here to tell us how his firm was so dead set on risk management and has so many controls in place.
Now one of his very own loses a few million on a highly leveraged trade very much like Schindler, Neiderhof, and Bill Miller and all the ET citizenry.
Don then comes on here to tell us that we need not worry and all is well...wait a second Don, I have a few questions to ask you. What happened to your winning market neutral methods? What happened to all the risk management? Are we still fools when it comes to the market?
I realized this thread wasnt about some trolls simply bashing a sponsor which is usually the case on ET, but about the truth being revealed.
Don, please do not simply brush this thread aside and state its none of our business. It was you calling us a bunch of fools this whole time stating how our market direction techniques was for idiots. It was you who smiled and teased us in clown outfits stating what a bunch of monkeys we were.
Well, now its your turn Don for a little humility...
Can we please give this thread a rest with the finger pointing etc.
Obviously, no one likes to hear about a trader at a firm take a big loss that might affect the viability of the firm and put other traders at risk. Don has clearly said this is not the case and that the firm is still in excellent financial health.
If you are a trader at Bright or a new trader considering Bright, Don has been very clear that he is willing to share the firms balance sheet to address all concerns.
This is a business and let's all act like business professionals.
If you have concerns, address those concerns privately and not in a public forum.
Obviously, no one likes to hear about a trader at a firm take a big loss that might affect the viability of the firm and put other traders at risk. Don has clearly said this is not the case and that the firm is still in excellent financial health.
If you are a trader at Bright or a new trader considering Bright, Don has been very clear that he is willing to share the firms balance sheet to address all concerns.
This is a business and let's all act like business professionals.
If you have concerns, address those concerns privately and not in a public forum.
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