VN gave lunch keynote speech at a futures conference in Orlando in the spring of 97. He brought in his own piano player and babbled to the crowd for almost 30 min. It was embarassing to watch. I asked someone who is this freeking idiot? I was told he's someone who manages a 100 million hedge fund. I kept thinking, well not for much longer. Most of the talking heads at the conference were reasonable, approachable, and had interesting things to say. VN was a completely off the wall. Near as I can figure Wall St has always been about separating fools from their money. Here's a quote from the conference notes on VN I guess that says it all. I thought the first lesson of markets was humility. Another famous musician (Bob Dylan) probably advised VN on his situation: BR/ FreeMarketRider
traders/speculators are all unique, atleast the succesful ones, otherwise they would be trampled to death by the masses. SAC collects multi million dollar dead sharks and diamond encrusted skullheads, for example. To bad you don't quite get it. here is another opinion of VN's interesting and entertaining piano/market show from WHARTON, no less: A piano recital for hedge funds Accompanied by a musician, speaker details experience in hedge funds, finance industry By JENNIFER REISS DailyPennsylvanian.com March 17, 2005 Clad in matching bright pink suits and armed with a piano, stock experts Victor Niederhoffer and Laurel Kenner addressed an audience of professionals and students yesterday. Niederhoffer -- a hedge fund manager, venture capitalist and onetime world squash champion -- spoke on the truths and myths of stock speculation. While her partner spoke, Kenner -- a financial writer and former editor at Bloomberg News, as well as a concert pianist -- underlined the lecture with piano tunes. She played classic American selections chosen to illuminate themes in the lecture. Explaining the unorthodox presentation, Niederhoffer said, "Music brings out emotions and meanings you just can't get from words." Unfortunately, many attendees found the background music distracting given Niederhoffer's low voice, and the crowd thinned out over the two-hour session. After a plea from the audience, Kenner ceased playing continuously. Niederhoffer divided his lecture into the three main questions facing investors today: if they should buy stocks, which stocks to buy and when to buy them. The bulk of the discussion, however, centered on defending his economic theories. He spoke out against the commonplaces of the stock market as championed by celebrity investor Warren Buffett and Wharton professor Jeremy Siegel. Niederhoffer likened their practices to old-style con games of three-card monte. Niederhoffer emphasized taking increased risk by investing in initial public offerings rather than simply in longstanding, "proven" companies, such as those in the tobacco and steel industries. According to Niederhoffer, advocates of a more conservative approached had "brainwashed" today's business students with "flawed" assumptions. He acknowledged his reputation in the business community as the "amiable idiot" but cited the success of his Matador Fund as evidence to the contrary. The fund has been the top-ranked major hedge fund over the past three years. He then proceeded to debunk what he sees as the 10 main myths of investing, emphasizing that "the thing about the markets is that you have to know what you don't know." Niederhoffer also defended his long-term record and acknowledged his personal shortcomings. Recalling the 1997 crash of his hedge fund following excessive speculations in Thailand, he refused to comment on Asian markets, saying he had been "conned by Orientals." He now concentrates on American stocks. Nevertheless, in recent years he has gained a personal following in Japan due to the success of his book and has appeared several times on Japanese public television. Niederhoffer and Kenner's appearance was sponsored by the Wharton Undergraduate Finance Club.
man ayn rand would be proud of someone who takes responsability of his actions like him. its always 'something', the guy bets on unlikely events not occuring and when they happen he somehow tries to portray himself as unlucky, you just cant make this up
Despite the protestations from Surfey that Vic is a really nice guy and a super-smart and creative market guru, the facts about VN seem to be: 1. He is just another over-leveraged short option gambler. He got nailed TWICE. Doesn't he ever learn? 2. He is a liar. He lied to Baron when Pabst posted that VN's fund was in trouble, yet again. 3. He is a cheat. He cheated on his wife and had a kid with another woman. 4. ... 5. ... Yeah he may be a nice guy, and he is an interesting character I suppose, but there are more worthy market folks to follow. JMHO. Good luck to all.
Vics problem is he's a permabull. Always bringing canes to the party. But when the cane is inserted in his @#$, he has little to say. A stopped clock is useless, unless it covers a bad paint job. Cleverness != Wisdom.