From The Little Book of Trading:
Kevin Bruce is living proof that there is no need to be in New York, London, or Chicago–flaunting a sharp business suit and trading in a sky rise. Bruce is a small-town guy from Georgia with no ancestral connection to Wall Street, who has not only made it on Wall Street but conquered it. Heed his path.
Bruce spends his time far away tucked in quiet spots in Richmond, Virginia. He works out six times a week at his local YMCA, and still drives his 1996 Ford pickup. With a net worth of nearly $100 million, he prefers to live life just as he always did before making that fortune. He is low profile. Most people have no idea of his wealth. He says, “I guess that means I’ve done a pretty good job of just being me.”
While Bruce was crafty in his early trading, almost tripling his initial seed money, he was really crafty in the way he built up his $5,000 nest egg. When he was about 15, he started the practice of packing a lunch and taking it to school. The cafeteria food wasn’t great, but he could buy a lunch for just 35 cents. Bruce would meet other kids in the bathroom daily and auction off his home-style lunch. He would then eat the cafeteria lunch–and would usually net about $2. Nice trade!
Inspirational? Yes, absolutely.
Of course, you could always grab a tent, your best protest vibe and head to lower Manhattan to live at Occupy Wall Street. However, I am willing to bet the next Kevin Bruce is not hanging out there.
Feedback in from a client:
“I’ve been re-watching the DVDs and I have to say the Kevin Bruce one is my favorite. The guy was self taught!?! Started with 5k?!? (even accounting for inflation is still amazing), developed a system with a hand-held calculator in a gas station [while working his way through college]!?! That’s amazing. The best part was when the lady at his gym thought he was a construction worker.”
Kevin Bruce is a silent (and very successful) trend following pioneer. Who is he? For those trend following data freaks out there, check this out (PDF). The highlighted sections are Bruce. You ask who is “Signet”? Signet Bank was where Bruce worked. In one of those odd stories Bruce had convinced, due to his performance and his fortuitous timing, to let a regional bank back in the day let him trade a trend following portfolio ‘in house’. To hear him talk about how he managed this relationship is nothing short of amazing. Bruce also appears in my film Broke.
Note: I will be soon putting out the long form interviews of many of the traders in my film. Bruce is coming, but first I will release David Harding (76 minutes) and Salem Abraham (89 minutes). Both are timeless interviews.