Can anyone figure out how to be the top ranked hedge fund manage on earth for over a decade without taking massive risk? Maybe use insider info or other cheater methods?
Poor guy. He has seen the highest highs and the lowest lows and seems to have learned the speculator's edge without learning the risk manager's edge. All that said, certainly a worthy study.
He's a degen who shorts puts. Fundamentally he's no different than that grandma trading through TOS. You talk about cognitive dissonance. His life is a case-study.
The guy has accomplished FAR more than you ever have. Yeah, degens live in 20k sq foot homes on 13 acres in CT, are published in the top academic journals, have a best selling book, not to mention being world's top player in a sport. sounds degenerate to me.
" live in 20k sq foot homes on 13 acres in CT, ' where are the customers' yachts? " published in the top academic journals" how many decades ago? what does being published have to do with making money? "The guy has accomplished FAR more than you ever have. " the moment you personalize you are walking on quicksand and your words are suspect.
Can someone offer up these facts for us? - Has his NET, to the end client, cumulative returns outstripped his blowups? Cause other than that who cares? I am genuinely curious.
depend on your entry point and if you exited before his bankruptcy. the client had to be his own personal market timer which was something clients try to avoid.
Oh ok. So blowup in this case means scorched earth blow up, not like 50% draw down blowup. So essentially the guy is net loser to his end client all said and done. A few who came out unscathed got lucky and withdrew early. The rest lost it all, does that sound right to the guys in the know here?
http://www.derivativesstrategy.com/magazine/archive/1999/0299play.asp http://www.newyorker.com/reporting/2007/10/15/071015fa_fact_cassidy?currentPage=all
Thanks Banjo. And more people threw money at him after this? That is shocking. The Human psychology behind perception being greater than reality amazes me.