Jack’s GS Trade Yields $201,300 in One Hour
Posted by Blain Reinkensmeyer
December 11, 2007 at 4:13 pm
This is exactly why Jack now has his own blog, so he can post some of his actual trades and share more investment insight.
The Fed’s cut rates a quarter point, and the market sold off immediately. As a hedge fund manager Jack makes tons of trades per day, this is just one of them he posted as he made it live. The stock was Goldman Sachs (GS):
- 1:45 PM, Shorted 22,000 shares at an average price of $225.34
- 2:56 PM, Covered 22,000 shares at $216.19
Total trade time: 1 hour, 11 minutes.
Total profit: $9.15 x 22,000 = $201,300
As a head fund manager Jack makes these kinds of trades all day long. Part of the “Live” aspect of Jack’s blog is that he will only post trades on his blog within literally a few minutes after making them. If Jack can’t find time to make the post right after the trade, he simply won’t post it.
Looking at his blog, Jack also made just over $20,000 shorting DIA which is the ETF that tracks the Dow Jones. A block is 10,000 shares, and one of these days I will explain what Jack means when he says, “pyramid”. Funny, I should add a stock education section just for Jack’s lingo…
Jack’s blog feed has been active again today, the best way to stay up to date is to Subscribe to Jack’s Feed.
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The power he must feel when he executes those large trades
That’s some big dollar amounts. Jack isn’t trading with small money that’s for sure. Great trade! That much money in one hour is an amazing feat.
Absolutely SICK! Man that has got to be a rush making trades like that!
Hmmmm… I should’ve maxed out my margin account and shorted 22 shares of GS.
That isn’t a big trade for any institution, including hedge funds. I know a lot of guys who work at hedge funds, and even at junior levels the trades they make are that big or bigger. One friend of mine has a turnover of half a billion a day, he works on a prop desk at one of the bulge bracket banks. There are tons of trades any trader can show you where they made money, but are they showing you the ones where they lost money?? For all we know Jack’s track record could be pathetic, and if he posts things like that on a blog it means it probably is.
Jack’s blog isn’t even a week old yet. His full bio will be up this week so you can have a better idea of his background. When it comes to results, anything within his hedge fund cannot be disclosed publicly due to regulations, but his personal results he will be able to share down the road. Better safe than sorry legally speaking. Thanks for the comment.
[...] Jacks Stock Trade Yields $201,300 in One Hour posted at Stock Trading To Go. This post looks at a hedge fund traders quick of Goldman Sachs. Stocks: GS [...]
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2008 Carnival of Everything Finance Begins ! (# 10
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