Bruce Babcock, Jr.

Bruce Babcock, Jr.

Died October 8, 1998

Bruce started off at Yale in 1961 but ended up at the University of California, Berkeley, where he received a business administration and, in 1968, a law degree from Berkeley Law School. That was just a minor course correction compared to the career path he followed.

Bruce used his legal education as a federal prosecutor, convicting Manson family member Sandra Good in connection with the attempted assassination of President Ford. He also worked as defense counsel, including one first degree murder case, and as a part-time law professor for 13 years.

In 1979, at the age of 35, Bruce left his law firm to concentrate on commodity trading which, he wrote, “is only as risky as you want to make it.” He became an internationally known expert and author of eight books on commodity futures trading, appearing in the pages of the Wall Street Journal and on the Financial News Network. In 1983, he began publishing Commodity Traders Consumer Report, a monthly magazine that tracked the performance of commodity advisory services. In addition to all his writing, Bruce designed computer software programs for traders – and actually traded with the systems he sold. In each of years 1991 through 1997, his account was up 63, 61, 24, 66, 101, 46, and 47 percent. “Those who treat trading as a get-rich-quick scheme are likely to lose because they have to take big risks,” he wrote. “If you act prudently, treat your trading like a business instead of a giant gambling casino and are willing to settle for a reasonable return, the risks are acceptable. The probability of success is excellent.”

On October 8, 1998, Bruce lost a five year battle with cancer. After his death the Reality Based Trading Company advertised itself as “Continuing the Bruce Babcock Legacy,” selling his books and computer programs. Its web site said of Bruce “the legacy of truth that he left is vast and timeless.”