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Michael Geismar, the president and co- founder of Quantitative Investment Management specializes in making money for other people by providing them with investment advice. However, the tide of fortune came his way when he opened out a $10k line of credit at Café Bellagio casino’s blackjack table.
Geismar was in Vegas to attend the SkyBridge Alternatives Conference and took the opportunity to try his hand at Blackjack and it paid off big time. Geismar who stated that he never counts cards and rarely plays the tables had a winning streak going for him and pocketed nearly $710k, in just two days.
His first day at the table went extremely well and in just six hours he turned his $10k line of credit into more than $470,000. The next day never went that bad as well and at the end he walked away with over $200,000. Geismar admits that while not a professional blackjack player, he has read former hedge fund manager and blackjack master, Dr. Edward Thorp’s book – “Bringing Down The House: The Inside Story of Six MIT Students Who Took Vegas For Millions”.
Bryan O’Leary from Alpha Financial Technologies said Geismar was over the moon. He was jumping into the pit screaming, “We’re going to need more chips over here!” At the end, the dealers were also happy as Geismar was generous, giving out tips in the thousands.
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