Dan Shak’s Hedge Fund Nearly Blows Up the Gold Market

Dan Shak almost caused a tsunami in the gold futures market.

This sounds like a story for Tao of Fear. But, it’s real life and my Wall Street world has just collided with the poker world. Enter… Dan Shak.

For someone who is an investor and Hedge Fund Manager like Dan Shak, $10,000 poker tournament buy-ins are peanuts to the millions that hes been gambling on in gold futures.

The gang at Zero Hedge even took notice and wrote a post: Meet The Man Behind The Liquidating Hedge Fund That Blew Up The Gold Market.

One of my favorite Wall Street blogs, Clusterstock, also weighed in on the situation This Poker-Playing Hedge Fund Manager Sent Shocks Through The Gold Market Last Week.

The best line in all of this, which I hear from degenerate gamblers (poker, craps, sports betting, whatever) all the time, is what Shak told the Wall Street Journal: “This is not career ending. I’m not stopping trading.”

Talk about a trader who has a set of titanium balls! That’s what I love about Dan Shak — he made a ballsy trade, it went south, he cut his losses, shrugged it off, and wants to get back in the game.

Instead of dicking around trying to get his chip count, maybe I should ask Shak if I can have a job at his hedge fund?

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