William "Toby" Harrison Crabel (born 1955)[1] is a United States self-made millionaire commodities trader. The Financial Times called Crabel "the most well-known trader on the counter-trend side"[2] He is the fund manager of "Crabel Capital Management".[3] Crabel Capital Management ranked number 101 out of 196 funds on Absolute Return magazine list Absolute Return survey of U.S. groups with more than $1 billion AUM, July 2005.[4] This is the latest current ranking of the top 196 money managers in the country. Mr Crabel manages 3.2 billion dollars and had a growth of 16.7% in 2005. A producer of consistent returns whatever the weather, Crabel has avoided having a losing year from 1991 to 2002.[5] Crabel is also an author. He has written the book Day Trading with Short-term Price Patterns, which can be found on eBay for upwards of $1,000 a copy.[6]
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He studied at the University of Central Florida and majored in finance.[7]
In 1975, while attending college Toby began to trade the markets. In the late 1980s, Crabel published a series of articles detailing various short-term price patterns for futures trading.[8] He played professional tennis for three years and went on to work as a trader for Victor Niederhoffer at his firm in New York while also giving short-term market advice to floor traders. He left Niederhoffer Investment in 1993 to focus fully on managed futures trading.[9] During 1998, he ran his hedge fund out of his house in the middle of some cornfields northwest of Milwaukee.[1] In January 1992, he started running his flagship Diversified Futures program, which closed to new investments in 2001 and has had positive returns without having a losing year since its inception.[10]
He currently manages private client funds though Crabel Fund Ltd for non-US clients and through Crabel Fund LP for US clients. The current assets under management are over $3.2B.[11] Crabel manages all this funds with a staff of no more than 80 people,[12] including 31 researchers and 28 traders.[13] Crabel Capital Management ranked number 101 out of 172 funds on Absolute Return magazine list Absolute Return survey of U.S. groups with more than $1 billion AUM, July 2005.[4]
Toby subscribes to Ayn Rand's Objectivism philosophy and owns an extensive Romantic realism art collection.[14]
Crabel, Toby (1990). Day Trading With Short Term Price Patterns and Opening Range Breakout. Traders Press. ISBN 0-934380-17-1.