its supposedly semi-autobiographical. i believe he worked at salomon for a year or two. he is an talented and entertaining writer, but should stick to things he knows. surfer
i read that interview today about 10min ago! i also read his book, and i can understand why people who read it hoping to get some method or insight into vn's methods were disappointed. but then as vn himself explains at the start, do you really think you get such insights for the price of a paperback? i guess that was a bad trade some here made. others: lets remember here that vn is not just an author. hes been the best trader in the world (recognized) as well as the best squash pro in his time. yes, he has also written some books some admire. have any of you done a fraction of these achievements off your own back? have you ever had the level of criticism thrown at you in press, yet STILL come back with the matador fund? my guess is that if most here were able to achieve 10% of what he has, you would die of the shock! this guy is to be studied and admired, not ignored.
Condescension doesn't get any better than this. However, it is its misplacement and irony that makes it art.
What was also interesting about MLS book is that your could read in the book or between the lines about the hubris and disregard for fair play on the Bond Desk headed by Meriweather (sp) who later went on to screw the world as the trader behind the scheme at Long term captial. After reading Liars poker, I had little doubt that Long Term Capitals Mangement knew they would eventually blow up. Just like VNs trading strategy. Make bets. sell vol (become rich and famous) blow up. Then say oh you mean we dont always revert to the mean? Season floor and market professionals know the strategy well. Get a sucker to fund you while you makes bets that frequently pay off but some day explode. Your sucker might come to you because you can manage a small acount well and get noticed. You might have a high profile. You might hire some famous professors to front your fund and advertise. You might go to a poorly run prop firm who will give insane leverage and let you endanger the health of the firm for short term volume. Then you place your bets. Then sell more and collect profits till you blow up.