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// Workers AI · dad joke modeIs Toby Crabel crabby? Yes, that's a shell of a personality.

From Wikipedia, the free encyclopedia

Toby Crabel
Born1955 (age 70–71)
Erie, Pennsylvania
Education
Occupationstennis player, commodities trader, and author
Known for
Notable workDay Trading With Short Term Price Patterns and Opening Range Breakout (1990)

Toby Crabel (born 1955) is an American tennis player, commodities trader, and author.[1][2][3]

In 1991, Crabel moved to New York City to work under hedge fund manager Victor Niederhoffer in research and trading at Niederhoffer Investments. He left Niederhoffer Investments to run systematic asset strategies independently, and launched the Crabel Diversified Futures program, engaging in automated and managed futures trading. The firm's total assets under management ultimately reached over $5 billion.

Crabel is an active tennis player. In 1978, he was ranked as the # 328 player in the world in singles and # 304 in doubles, career highs. He competed in the Men's Doubles in the 1980 French Open. In 2021 he was ranked the No.1 player in the 65-and-over age range in the US.[4]

Early life and education

[edit]

Crabel was born and grew up in Erie, Pennsylvania.[5]

Crabel attended Florida Technological University (renamed the University of Central Florida), and majored in finance.[6][7] He played on the tennis team, and was a 3-time NCAA Division II All-American.[8][9] In 1977 he reached the quarterfinals of the NCAA Division II National Championship singles tournament.[10]

He then attended the University of California, Berkeley, where he studied mathematics.[11]

Tennis career

[edit]

Since 1973 (age of 18), he has been playing professional tennis.[12][3] Following college, Crabel played on the professional circuit for three years on the ATP Tour.[9] In 1978, Crabel was ranked as the # 328 singles player in the world, a career high; his career high in doubles was # 304.[13] He competed in Men's Doubles in the 1980 French Open with Ian Harris, and they lost their first-round match against Vitas Gerulaitis and former World No. 1 Fred Stolle in straight sets.[14][15] He played professional tennis in Europe.[15]

Following his retirement from the ATP Tour, Crabel remained active in senior tennis circuits under the United States Tennis Association (USTA) and the International Tennis Federation (ITF).[16] In October 2021, he captured a USTA Gold Ball by winning the USTA National Men's 65 Clay Court Championships in New Orleans.[17] Later that year, he won the Crabel Capital USTA National Men's 65 Grass Court Championships, hosted by his company.[18] He finished the 2021 season ranked as the No. 1 player in the US in the Men's 65-and-over age division.[4] Crabel was selected by the USTA to represent the US at the 2021 ITF Super-Senior World Team Championships, competing for the Britannia Cup.[19] He achieved a peak ranking of No. 11 in the International Tennis Federation Senior World Rankings.[8] He supports senior tennis through corporate tournament sponsorship and funding specialized prize-money masters events.[20]

Financial career

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In 1975, while attending college, Crabel began to trade the markets. In 1980, he worked as a runner on the Chicago Mercantile Exchange.[15] In the late 1980s, Crabel published a series of articles detailing various short-term price patterns for futures trading.[21] Crabel released his book, Day Trading with Short-term Price Patterns, in 1990.[22][23][24]

In 1991, Crabel moved to New York City to work under hedge fund manager Victor Niederhoffer in research and trading at Niederhoffer Investments.[12][25][26] At the firm, he focused on short-term pattern research and quantitative analysis alongside other traders such as Monroe Trout and Roy Niederhoffer.[27] During this period, he also provided short-term market analysis and advice directly to floor traders through his advisory work and commodity newsletters.[28] He left Niederhoffer Investments in 1992 to run systematic asset strategies independently.[11] He focused on launching the Crabel Diversified Futures program, engaging in automated and managed futures trading.[11]

In 1997, he established Crabel Capital Management as a successor to his trading sole proprietorship.[29] He initially managed the hedge fund's diversified futures programs from his house in River Hills, Wisconsin, adjacent to cornfields, northwest of Milwaukee.[29][30][1] Diversified Futures closed to new investments in 2001, had a record of positive returns, having avoided a single losing year between 1991 and 2002, and had positive returns from inception through 2006.[31][32] He is the fund manager of "Crabel Capital Management," which in 2005 ranked highly on Absolute Return magazine's list of US groups with more than $1 billion assets under management.[33][34] Crabel managed $3.2 billion with growth of 16.7% in 2005. In 2005, the Financial Times called Crabel "the most well-known trader on the counter-trend side".[22] He lived and worked out of the greater Milwaukee area until relocating his family and corporate headquarters to Southern California, establishing the firm's main offices in Los Angeles.[29][30][35] In California, Crabel and his wife, fashion designer Lorena Sarbu, established their family residence in Beverly Hills.[36][37][38]

Crabel manages private client assets, using the Crabel Fund Ltd for non-US investors and the Crabel Fund LP for US clients.[39] The firm's total assets under management reached over $5 billion.[40] This asset base is traded systematically across several quantitative programs.[41] Crabel manages these funds with a staff of 31 researchers focused on quantitative research and development, and 28 traders.[32][42] In an hour-long April 2026 interview, Grabel ruminated on his decades of experience navigating the fact that markets are not stable, and discussed why momentum behaves differently now, how liquidity has changed, and why execution is now a defining edge.[43]

Bibliography

[edit]

Crabel, Toby (1990). Day Trading With Short Term Price Patterns and Opening Range Breakout. Traders Press. ISBN 0-934380-17-1.

See also

[edit]

References

[edit]
  1. 1 2 Harmon, Amy (July 23, 1998). "Talk, Type, Read E-Mail". The New York Times. Retrieved March 7, 2012.
  2. ↑ "Player's details – Toby Crabel". ITF Tennis. International Tennis Federation (ITF).
  3. 1 2 "Quiet Toby Crabel Enjoyed National Circuit". News-Press. October 28, 1973. pp. 8–C. Retrieved January 4, 2022.
  4. 1 2 Papillion, Jude (November 4, 2021). "Men's 60/65 tennis tournament at NOLTC features competitive players, exciting play". The Tulane Hullabaloo. Retrieved January 4, 2022.
  5. ↑ "Who is Toby Crabel and What is Crabel Capital Management?(Pioneer in Trading)," Quantified Strategies, January 26, 2026.
  6. ↑ "Network 2002". Speaker Bios. Managed Funds Association. February 3, 2002. Retrieved August 15, 2006.
  7. ↑ "Toby Crabel: A Famous Contrarian Trader," ADVFN Financial News, March 11, 2015.
  8. 1 2 Member Profiles: Toby Crabel, nsmta.net, National Senior Men's Tennis Association
  9. 1 2 "2022 Results," Beautyman Cup.
  10. ↑ "Five to get inducted into UCF Athletics Hall of Fame," ucfknights.com, March 15, 2010.
  11. 1 2 3 "Who We Are". Crabel.com. Crabel Capital Management.
  12. 1 2 "Ep. 287: Toby Crabel Interview with Michael Covel on Trend Following Radio," Trend Following, October 26, 2014.
  13. ↑ "Tennis Abstract: Toby Crabel Match Results, Splits, and Analysis". Tennis Abstract. Retrieved January 4, 2022.
  14. ↑ "Toby Crabel," ATP Tour.
  15. 1 2 3 "TTU152: Where is the Open? ft. Toby Crabel," Top Traders Unplugged, 15 Apr 2026.
  16. ↑ "2021 Gold Ball Champions (Complete)". CarolynNichols.com. Senior Tennis Blog. April 12, 2021.
  17. ↑ "Players In The News". nsmta.net. National Men's Tennis Association.
  18. ↑ "Toby Crabel". Top Traders Unplugged. November 2021.
  19. ↑ "2021 ITF Super Senior Team USA Rosters". nsmta.net. National Men's Tennis Association.
  20. ↑ "Barnes Tennis Center Hosts Crabel Capital Men's 65 Tournament Through Sunday", Times of San Diego, May 17, 2021
  21. ↑ Hartle, Thom (April 2003). "Opening shots" (PDF). Active Trader Magazine. p. 23. Archived from the original on October 16, 2006. Retrieved November 19, 2006.
  22. 1 2 "FT.com". Financial Times. Retrieved July 27, 2012.
  23. ↑ "Is the trend your friend or foe?," Financial Times, January 4, 2005.
  24. ↑ "Revealed: A Powerful Hedge Fund Manager's No. 1 Trading Secret, Yahoo, September 10, 2013.
  25. ↑ "Toby Crabel". Traders Log. TradersLog.
  26. ↑ "055 - Toby Crabel - Short-Term Futures Trading with Size! Interview," The Algorithmic Advantage, October 26, 2014.
  27. ↑ Opalesque (August 5, 2026). "Victor Niederhoffer pioneer of statistical arbitrage and five-time squash champion dies at 82". Opalesque.
  28. ↑ "Toby Crabel". Top Traders Unplugged. Top Traders Unplugged. November 2021.
  29. 1 2 3 "Form S-1 Registration Statement: Crabel Capital Management, LLC". U.S. Securities and Exchange Commission. April 30, 2016.
  30. 1 2 Feitelberg, Rosemary (May 2, 2010). "From 3rd Ward to New York City". Milwaukee Business Journal.
  31. ↑ "Crabel capital". Freewebs.com. Retrieved July 27, 2012.
  32. 1 2 "Lock and Load". MarHedge. 2006.
  33. ↑ Franiak, Frank J. (August 2000). "Managed Futures: Poor Performance Overshadows Success Stories". Futures Industry Magazine. Futures Industry Association. Retrieved March 7, 2012.(registration required)
  34. ↑ Cohen, Barry (September 2005). "Billion dollar club keeps growing" (PDF). Absolute Return magazine. Archived from the original (PDF) on November 14, 2006. Retrieved November 19, 2006. N.B. This ranking of the top 196 money managers in the country is over 11 years out-of-date.
  35. ↑ "Crabel Contra," Hedge Fund Journal, October 2019.
  36. ↑ Feitelberg, Rosemary (August 24, 2009). "Lorena Sarbu Launches Collection". Women's Wear Daily.
  37. ↑ "Sarbu to open boutique in Crabel Capital Management building," Journal Sentinel, February 26, 2009.
  38. ↑ "Lorena Sarbu closing in Third Ward," Journal Sentinel, November 19, 2010.
  39. ↑ "Toby Crabel". Top Traders Unplugged. Top Traders Unplugged. November 2021.
  40. ↑ "Crabel Capital Management". Crabel.com. Crabel Capital Management.
  41. ↑ "Serving up success: Crabel Capital Management's evolution". J.P. Morgan Insights. J.P. Morgan. June 27, 2025.
  42. ↑ "Firm: Crabel Capital Management". Tradermath.
  43. ↑ "Where is the Open? ft. Toby Crabel," Top Traders Unplugged, April 15, 2026.
[edit]
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