Another great story, thanks. Given your quant fact, I think it would be accurate to say that VN had a huge influence over M in quant trading...... Interesting about the Pepsi CFO's son, my ex wife is the daughter of an ex president at KO----- I know they hated the Pepsi guys back in the day.... surf
VN talks philosophy but given his history of writing naked options in size he seems to me to be simply a gambler. I seem to remember he busted out twice since he ran good sized money. It's one thing to bust out taking big risk to get "there" but, once you are there, most smart traders opt for a lowr risk profile.
The guy has a strong will to number 1 in everything--- in the hedge fund business this requires ramping up risk and size to beat the HW mark and your competitors who are getting more savvy every year. It's this competitive obsession that is both his genius and flaw. surf PS-- my opinion only.
ds was one of the first intelligent blogs talking about the markets. i've forgotten to keep up with it. put it back on my rss feed prob wont make you two cents, but better than the trash elsewhere.
"Ramping up risk" in a $3 put should be in the DSM-IV for psychiatric disorders. Why is it that other managers have not had to resort to selling garbage puts? And now he's done it 3x with catastrophic results. The term is cognitive dissonance. There should be a pic of VN with the definition.
You speak with authority on this $3 put claim--- where does this info come from and what's your evidence? surf
The interesting thing is VN was pissing on other traders as 'misguided' and 'amateurish' every opportunity he got but was propagating non-sense like the above at the same time.