Victor has shined as a teacher and mentor, a chip off the old block as documented in his first book. The fact that he has mentored so many -many of whom he does not know or hardly knows - is an admirable track record that has and will continue to stand the test of time. Also, I have been told from a reputable source the world's greatest living non-automated trader bar-none.
VN has many, many admirable qualities EXCEPT the 2 most important: humility and the ability to manage risk.
"quiet" vic + quiet are oxymorons. the one thing vic has certainly been right and he griped about it foryears is that the currency desks of the banks are filled with crooks, who front run and manipulate markets. it is coming to a head with gov't investigations and fines. " I think you have a rich body of experience in risk management. " he certainly has after blowing up numerous times. yes, one might learn from it. the question is can he learn from it?
It is better for a good trader to out-humble the market and then one can't be humbled by it. My first big surprise lesson (two decades or more ago) was when everything was working so well in my trading. I thought I had found the magic key. Now I tend to get suspicious when I earn a lot in a short period of time. I admire the courage of someone who will face his accusers and show them as the ghosts that they are. It is better to have loved and lost ( and started over again) than never to have lost. Didn't Tim Cook blow out as well and turn it around? Lucky for me, I have never blown out an account because I avoid excessive leverage. I hope it stays that way. Good post.
I suspect that crooks often appear in trading since even the intakes into the investment houses suffer from the 95-5 rule of success. If trading were so easy, then why pay so much? (Burger flippers don't get paid that well.) Many edges appear as humans find easier methods of making money than trading. IMO it takes a special kind of talent and chutzpah to steal from clients while getting bonuses for it and appearing on TV spreading mis-information to those same clients.
Who cares if he was a great teacher and mentor? What's next we'll hear if Vic has a loving father? Maybe he was donating to charity? At the end of the day Vic was an arrogant prick constantly pissing on those on the other sides of his trades and taking great joy when they suffered losses. Go back on his blog and read his posts 2006-2007. He was full of it. He was lacking any sort of humility and therefore deserves absolutely no compassion in his demise.
What's wrong with you -- Living like a hermit too long under the bridge? What better a legacy could any man wish for than being able to pass along knowledge that creates a dozen plus 100 million to billion dollar fund managers-- and change their entire families for generations, not to mention the world via them? Vic freely gives his knowledge, heck he even answers the critics on this thread. You don't see many other 100' millionaires do this, do you? Stoner