Nelson Bunker Hunt

Nelson Bunker Hunt (born February 22, 1926 in Dorado , Arkansas , † October 21, 2014 in Dallas , Texas ) was an American entrepreneur and speculator . The right-wing billionaire became known worldwide when he and his younger brother William Herbert Hunt and wealthy speculators from the Middle East tried (in vain) to dominate the silver market from 1973 to the beginning of 1980, until the silver prices on so-called Silver Thursday ( 27. March 1980) crashed, causing the Hunt brothers billions in losses and subsequently going bankrupt.

Life

Hunt was one of the seven children of oil billionaire HL Hunt from his first marriage in 1914 to Lyda Bunker (born January 26, 1889, † May 6, 1955). The Texan Hunt family was a leader in the oil business and owned large oil fields, including in Libya . The Hunts were one of the wealthiest families in the United States at the time .

Nelson Bunker Hunt became known through the silver speculation , which he ran together with his younger brother William Herbert Hunt (* 1929) from the mid-1970s. Nelson Bunker Hunt died of heart failure on October 21, 2014 at the age of 88 in a Dallas nursing home.

Silver speculation

During this time the Hunt brothers - in collaboration with several wealthy Arab businessmen - bought silver on a large scale, both physically and on the futures exchange.

When the price of silver was close to $ 50 an ounce in mid-January 1980 - the Securities and Exchange Commission acted and changed the rules on COMEX. No further purchases were allowed, i.e. no new long positions could be entered into. Liquidation-only trading was ordered; only existing long positions were allowed to be offset against existing short positions. That meant the silver price could only fall, and it did so immediately.

Former Hunt billionaires were forced to file for bankruptcy following the collapse of speculation .

horse race

Hunt acquired his first thoroughbred horses in 1955 and became one of the world's largest and most productive thoroughbred breeders through his breeding program in the 1970s. He won the Eclipse Award for Outstanding Breeder in 1976, 1985 and 1987. He owned the 3,200 acre bluegrass farm in Lexington, Kentucky , and ran thoroughbreds throughout Europe and North America . He owned the following horses, among others: Vaguely Noble , Dahlia , Youth , Exceller , Trillion , Glorious Song , Dahar and Estrapade . In 1976 Empery won the Epsom Derby under Lester Piggott .

The American National Thoroughbred Racing Association (NTRA) awarded Hunt the title of "legendary owner-breeder". In total, Hunt bred 158 winners and owned or bred 25 champions.

Due to his bankruptcy, he had to sell a total of 580 horses at Keeneland Sales in 1988 , which brought in $ 46,911,800, the highest sum ever achieved in a thoroughbred auction. In 1999 he returned to horse riding and acquired 51 young horses and yearlings for over $ 2 million. He said, "At my age, I don't want to breed or buy a farm, I just want to have some fun and try my luck at running."

literature

Stephen Fay: Great Silver Bubble. Hodder & Stoughton General Division, London 1982, ISBN 0-340-28370-X .
Bunker Hunt , in: Internationales Biographisches Archiv 43/1986 of October 13, 1986, in the Munzinger Archive ( beginning of article freely available)

Web links

History of silver speculation of the brothers Hunt (English)
Frank Stocker in WamS : When will the silver bubble burst this time? dated April 24, 2011 (accessed April 28, 2011)

Graph of the development of the silver price

Nelson Bunker Hunt in the Find a Grave database . Retrieved September 4, 2017.

Individual evidence

^ NNDB: Nelson Bunker Hunt
^ NNDB: HL Hunt
↑ Der Spiegel November 12, 1984: Poker, Profit and Propaganda
↑ Lyda Bunker Hunt in the Find a Grave database . Retrieved September 4, 2017.
↑ Famouspeople: HL Hunt
↑ Joe Simnacher: Nelson Bunker Hunt, second son of legendary wildcatter HL Hunt, dies. In: The Dallas Morning News of October 21, 2014 (accessed October 22, 2014).
^ ^A ^b Edward L. Bowen: Legacies of the Turf: A Century of Great Thoroughbred Breeders . Eclipse Press, Lexington, KY, United States 2004, ISBN 1-58150-117-X , pp. 249-262.
↑ ^a ^b Nelson Bunker Hunt . National Thoroughbred Racing Association. May 30, 2006. Archived from the original on February 1, 2008. Retrieved on April 13, 2008.
↑ http://www.bloodhorse.com/horse-racing/articles/26692/john-gaines-in-his-own-words | title = John Gaines in his own words | work = Blood-Horse | date = 14. February 2005

personal data
SURNAME	Hunt, Nelson Bunker
BRIEF DESCRIPTION	American entrepreneur and speculator
DATE OF BIRTH	February 22, 1926
PLACE OF BIRTH	Dorado , Arkansas , United States
DATE OF DEATH	October 21, 2014
Place of death	Dallas , Texas , United States

[1] NNDB: Nelson Bunker Hunt

[2] NNDB: HL Hunt

[3] Der Spiegel November 12, 1984: Poker, Profit and Propaganda

[4] Lyda Bunker Hunt in the Find a Grave database . Retrieved September 4, 2017.

[5] Famouspeople: HL Hunt

[6] Joe Simnacher: Nelson Bunker Hunt, second son of legendary wildcatter HL Hunt, dies. In: The Dallas Morning News of October 21, 2014 (accessed October 22, 2014).

[HORSE1-7] A ^b Edward L. Bowen: Legacies of the Turf: A Century of Great Thoroughbred Breeders . Eclipse Press, Lexington, KY, United States 2004, ISBN 1-58150-117-X , pp. 249-262.

[HORSE2-8] Nelson Bunker Hunt . National Thoroughbred Racing Association. May 30, 2006. Archived from the original on February 1, 2008. Retrieved on April 13, 2008.

[bloodhorse_2005-9] ttp://www.bloodhorse.com/horse-racing/articles/26692/john-gaines-in-his-own-words | title = John Gaines in his own words | work = Blood-Horse | date = 14. February 2005