Yes, it was mentioned at ET somewhere that Vic posted here as ProfTurf. If all of the four letter words were misspelled and the 15 letter words were spelled correctly then it was definitely Vic.
WSJ Veteran Trader Loses Investor, Closes a Fund By GREGORY ZUCKERMAN October 10, 2007; Page C2 The roller-coaster career of maverick trader Victor Niederhoffer took a sharp downturn after losses mounted and a key investor withdrew money from his firm, demonstrating how the market's recent volatility has shaken even some veterans. Mr. Niederhoffer's hedge-fund firm, Manchester Trading LLC, ran into difficulties a decade after Mr. Niederhoffer lost most of his personal savings when his previous hedge fund collapsed. Last month, Mr. Niederhoffer's largest hedge fund, Matador Fund Ltd., was liquidated after suffering losses of more than 70%, according to people close to the matter. Adding to Mr. Niederhoffer's problems, according to a person close to the firm: Swiss-based Octane, a fund-of-funds firm that invests in hedge funds, pulled a significant amount of money from the firm. Yesterday, Mr. Niederhoffer wouldn't comment. The move to close Matador was reported by the New Yorker. An Octane spokeswoman wouldn't comment, citing the firm's policy. In recent years, Mr. Niederhoffer, 63 years old, had staged something of a comeback, relying on a trading style that generally bets on rising markets and quick trades and is characterized by wild swings. Last year, for example, he saw the Matador Fund, based in Weston, Conn., lose 30% of its assets early in the year, but stage a rebound to finish with gains by year's end. The turndown was sudden. As recently as Aug. 26, Mr. Niederhoffer, who earlier this year managed almost $300 million, said Matador was stable, despite traders' speculation that losses were heavy and investors were fleeing. "We have accomplished what we intended to do in connection with recent [withdrawal] requests and have an ample surplus in all respects," he said in an email at the time. Even though he has had years in which he generated gains of more than 50%, Mr. Niederhoffer last year acknowledged that if his firm suffered another big setback he might not have the opportunity for a comeback. "I have this one more chance, I know I won't get another," he said in an interview last year. Mr. Niederhoffer, known for quirks such as wearing colorful pants and keeping the thermostat in his trading room set so high that his traders dripped sweat over their computer terminals, continues to manage money for himself, his family and his friends, according to a person close to the matter.
Pulling a Neiderhoffer, new term: Big-time gamble where you go ALL-IN when trend is moving against the Directional Trade, with vague denial/obfuscation after the Blow-Up. Quote from domestic: on august 26 vic was saying everything was fine with the fund. but in reality there was a loss of 70% and then octane pulled significant funds out. matador was then liquidated. you have heard all this before. -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Quote from JimmyJam: Time for a new term: Pulling a Neiderhoffer, for all you big-time gamblers who go ALL-IN when the trend is moving against your directional trade. JJ -------------------------------------------------------------------------------- -------------------------------------------------------------------------------- Quote from spinoza: Maybe the term: "Pulling a Neiderhoffer" would also imply an element of denial/obfuscation after the blow-up, such as provided by marketsurfer and VN himself. --------------------------------------------------------------------------------
"I've been studying complex variables lately because I find the imaginary very important these days, and I had to brush up on them for one of my daughters." VN Must be referring to the imaginary bankroll.
Nieds problem is he's not enough of a thief. He tries to make money by guessing right. The Serious money is made by rigging the game.