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Brandon Adams' blowout

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08-18-2008 , 03:59 PM

exotiq

newbie

Join Date: Aug 2008 Posts: 35

He recently began trading equity prop at Bob Bright's firm in LV. Somehow he managed to con the Bright's into allowing him to take a large position in a biotech. He's told some that he had inside info, but it's not clear whether Bob B was aware of Brandon's assertions re: inside knowledge.

He lost 5-million of Bright capital as well as a few mil belonging to some well known poker pros.

Hey Tom, I suggest you sue that f*cker. I posted this to the stock board in error. Plz delete the other posting.

Two posts from exotiq later in the thread:

Quote:

Originally Posted by exotiq

Oh my God. There was NO insider trading. The insider trading angle was a ploy to sell the trade.

Quote:

Originally Posted by exotiq

You're a monumental ******. I never accused BA of insider trading. He used the promise of inside information to sell the trade to people in this biz. I am sure he felt absolutely confident that ELN would get the approval.

Last edited by Kevmath; 08-19-2008 at 12:22 PM. Reason: added note regarding later posts made by OP

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08-18-2008 , 04:05 PM

lapoker17

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 8,960

more info please sir. sounds like an interesting story!

Quote

08-18-2008 , 04:07 PM

exotiq

newbie

Join Date: Aug 2008 Posts: 35

I trade remote for the Brights and it's making the rounds. Apparently BA is into the Brights for his debit balance. I can't really elaborate at this time. The loss was on the order of 8+

Quote

08-18-2008 , 04:17 PM

pindawg

veteran

Join Date: Nov 2004 Posts: 3,153

To help rebuild his rep and payoff loans he should start running charity poker tournaments in rural Michagan. He should have enough money left over for some blow, hookers and a nose job.

Quote

08-18-2008 , 04:17 PM

lapoker17

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 8,960

Quote:

Originally Posted by exotiq

I trade remote for the Brights and it's making the rounds. Apparently BA is into the Brights for his debit balance. I can't really elaborate at this time. The loss was on the order of 8+

how was the deal set up? is he contractually on the hook for all losses?

Quote

08-18-2008 , 04:21 PM

Get It Fast

grinder

Join Date: Sep 2007 Posts: 597

This whole thread may as well be in Chinese for me. All I know is that BA is a former Gator, which makes him a winner in my book.

Quote

08-18-2008 , 04:22 PM

exotiq

newbie

Join Date: Aug 2008 Posts: 35

The Bright's payout 100%. They charge a penny a share in commission, which is a lot, but with that penny you gain access to their leverage at Goldman Sachs. Brandon busted out when going debit.

No, the firm covers all losses. The Bright Bros are worth ~100 or more.

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08-18-2008 , 04:23 PM

okterrific

old hand

Join Date: Feb 2006 Posts: 1,981

Harvard Shmarvard.

Quote

08-18-2008 , 04:26 PM

gushansen

grinder

Join Date: Sep 2003 Posts: 473

BA lost over 8 mil?

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08-18-2008 , 04:26 PM

#10

SlowHabit

See my coaching listing

Join Date: Apr 2006 Posts: 4,394

If wins_pot doesn't show up and post in this thread, you'll what the answer is.

Also, please more details exotiq. This is my favorite kind of news/gossip!

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08-18-2008 , 04:28 PM

#11

sneaks619

adept

Join Date: Aug 2007 Posts: 1,147

what's the ticker symbol OP?

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08-18-2008 , 04:30 PM

#12

lapoker17

Carpal \'Tunnel

Join Date: Sep 2004 Posts: 8,960

can you tell us what the grounds for a lawsuit might look like and how realistic that is?

Quote

08-18-2008 , 04:31 PM

#13

Fife19

centurion

Join Date: Nov 2007 Posts: 173

So he was hired by the brights under the assumptions that he had direct info on a stock and was allowed to invest 8mill on said stock and lost the whole thing?

Is that the jist of it? I dont think I fully understand what has happened exactly. Id love to hear what poker players took a big hit because of this though.

Quote

08-18-2008 , 04:36 PM

#14

exotiq

newbie

Join Date: Aug 2008 Posts: 35

No, I am certain they wouldn't act on blatantly inside info. I guess it got passed risk. He must have traded it just before the FDA meeting.

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08-18-2008 , 04:38 PM

#15

mlagoo

old fogey

Join Date: Feb 2005 Posts: 19,223

could someone translate what happened into layman? im curious but i dont really understand what's going on.

Quote

08-18-2008 , 04:38 PM

#16

exotiq

newbie

Join Date: Aug 2008 Posts: 35

Mods. Plz delete this thread.

Quote

08-18-2008 , 04:39 PM

#17

EnergyBurst

journeyman

Join Date: Aug 2008 Posts: 219

Quote:

Originally Posted by exotiq

Mods. Plz delete this thread.

why? are you getting yelled at at work?

Quote

08-18-2008 , 04:40 PM

#18

Swift75

banned

Join Date: Jun 2007 Posts: 17

Quote:

Originally Posted by exotiq

Mods. Plz do not delete this thread.

FYP

Quote

08-18-2008 , 04:41 PM

#19

exotiq

newbie

Join Date: Aug 2008 Posts: 35

I'd like the thread deleted in case of any repercussion and how it would affect my trading with the company. It's accurate, but I'd like to remain at the firm.

Quote

08-18-2008 , 04:43 PM

#20

EWS87

banned

Join Date: Jun 2007 Posts: 6,428

someone else will just quote all your posts and start a new thread somewhere i would assume...so u might as well just keep it open

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08-18-2008 , 04:43 PM

#21

Fife19

centurion

Join Date: Nov 2007 Posts: 173

Good to see you thought this through before posting.

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08-18-2008 , 04:44 PM

#22

that_pope

Carpal \'Tunnel

Join Date: Dec 2006 Posts: 33,226

What site what stakes?

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08-18-2008 , 04:44 PM

#23

Swift75

banned

Join Date: Jun 2007 Posts: 17

Quote:

Originally Posted by exotiq

I'd like the thread deleted in case of any repercussion and how it would affect my trading with the company. It's accurate, but I'd like to remain at the firm.

A little late, no?