Blair Hull
Childhood
Born on September 3, 1942, in Los Gatos, California, Blair Hull grew up in a working-class family. By age 19, he worked on a cannery assembly line to support his household, earning a union card with Local 679 2. After serving six years in the U.S. Army, reaching the rank of lieutenant, Hull transitioned to teaching high school math and physics before pursuing higher education.
He earned a Bachelor’s in Mathematics from UC Santa Barbara, an MBA from Santa Clara University, and later completed Harvard’s Owner/President Management Program. His analytical skills would soon shift from academia to the blackjack tables—and, eventually, the trading floor.
Career
Blackjack Advantage Player (1970s) Hull’s gambling career began when he read Ed Thorp’s Beat the Dealer and mastered card counting. He joined Al Francesco’s legendary blackjack team, which included Ken Uston and Bill Erb, and became a “Big Player”—exploiting casino edges with mathematical precision.
The team operated in Las Vegas, Monte Carlo, France, and the Bahamas before being barred from many casinos. Hull later formed and financed his own teams in Las Vegas and Atlantic City. His success earned him induction into the Blackjack Hall of Fame in 2022, where he received the first “Ed Thorp Lifetime Achievement Award” .
Transition to Finance
After leaving blackjack with $25,000 in winnings, Hull leased a seat on the Pacific Stock Exchange (1977) and later moved to the Chicago Board Options Exchange (1980). He developed an empirical options-pricing model, similar to Black-Scholes, to gain an edge in trading .
Hull Trading Company (1985–1999)
In 1985, Hull founded the Hull Trading Company, a quantitative market-making firm that used algorithmic trading before it was mainstream. By the late 1990s, the firm:
- Employed 250+ people, including physicists and software engineers.
- Traded on 28 exchanges across nine countries.
- Handled 7% of U.S. index options and 1% of NYSE daily volume.
- In 1999, he sold the company to Goldman Sachs for $531 million.
Later Ventures Hull Investments (1999–Present):
- Family office managing wealth across generations.
- Ketchum Trading (2009–2018): Proprietary trading firm in futures and ETFs.
- Hull Tactical Asset Allocation (2013–Present): Manages an actively traded ETF (HTUS) using machine learning.
Personal life
Married to Cynthia Cranmer Erb (since 2018).
Father of four children: Kristin, Megan, Jeff, and Courtney.
Active in progressive politics, advocating for universal healthcare, LGBTQ+ rights, and open primaries.
Revenue
Hull’s net worth is estimated at 400–500 million, primarily from:
The $531M sale of Hull Trading Company.
Investments through Hull Tactical and Ketchum Trading.
Interesting facts
First Ed Thorp Award Winner (2022) for lifetime contributions to advantage play.
One of "Wall Street’s 25 Smartest Players" (Worth Magazine).
His trading firm was compared to NASA mission control for its tech-driven approach.
Ran for U.S. Senate in 2004, losing the Democratic primary to Barack Obama.
Legacy
Pioneered algorithmic trading before it was mainstream.
Bridged gambling and finance by applying blackjack strategies to markets.
Philanthropy: Supports women’s rights, LGBTQ+ causes, and education.
Frequently asked Questions
From blackjack advantage play, then quantitative trading via Hull Trading Company, sold for $531M in 1999.
Yes—he was a “Big Player” in Al Francesco’s blackjack team and later ran his own teams.
Thorp’s Beat the Dealer inspired Hull’s blackjack career. In 2022, Hull received the first Ed Thorp Lifetime Achievement Award.
A quantitative investment firm using algorithms to trade ETFs (NYSE: HTUS).
Yes—he sought the 2004 Illinois Democratic Senate nomination but lost to Barack Obama.
