Here is a different question: Once you become famous and you can attract both investors and trading talents, just how much of your results are yours and not your traders? (And if your traders don't trade their own strategies what is the point of hiring them?) Let's say I had a recognized name and hired 10 excellent traders with very good proven (and non- correlating) records, why shouldn't I divide the fund's assets and give each 10% to trade with, thus my fund's return would be their average?? And I don't have to do anything just monitor them and keep the brand name alive. I am not saying Vic is doing this, but that would be one easy way to do business....
That may or may not be. However, he invites the kind of attention that you seem to be criticizing. How do you not comment on a man in his 60s who wears lavender jackets and other pastels, who wears no shoes, and who encumbers his daughters with names like Galt, Rand and Artemis? The man is an attention-seeking missile. What does that tell you about his character? You would expect such an apparent need for attention in a teenager, but it does not wear all that well with a man of his vintage. Further, I think NTB nailed Mr. Niederhoffer in his post: http://www.elitetrader.com/vb/showthread.php?s=&postid=1471547#post1471547 You seem to place a heavy emphasis on education. No one disputes the value of a solid education, however, that alone says very little about a person. I have endured both an undergraduate and graduate degree, and have had professors who were true scholars as well as professors who were morons with credentials. Guess which ones were more arrogant. I'm not saying Mr. Niederhoffer is a moron, but only a moron would suggest that he is not arrogant. So what we appear to have here is a smart, educated, attention-seeking, arrogant man who rolls big, hefty dice fast and loose with other people's money. That he lost so much of his own money when he did suggests a miscalculation: that he played chicken a little closer than he anticipated. What have I missed or misinterpreted?
By the way, I'm not saying playing fast and hard with OPM is smart, dumb, moral or amoral. Some people are exercising their free option. Maybe it is smart to do so. Maybe they are doing so without even consciously being aware they are doing it. One thing, VN is likely the richest person to post on ET. If Brian Hunter posted here he'd be the richest and if Merriweather posted here he'd be the richest still. Next year's blow-up du jour will be the richest yet. Now who is smart? Everyone has to answer that question for themselves.
I found annalands statements to be very intesting. She has bought into the premise of the book. That there exists some sort of super culture - VN is part of because he went to Harvard. It is interesting because in the book VN is driven by a similar belief. And I will get to that message in a second. People found the major message of VNs book to o be irritating. (as did I) "You cant trade unless you are brilliant like me." But what causes that message to be broadcast? The book documents VN's inferiority complex the way saturday night fever documents the same complex exhibited by Tony and his Brooklyn friends. The book really is Tony becomes a hedge fund manager and moves to Greenwich. However, Tony is smarter that VN. Tony knew he was as good as anyone and did not feel compelled to brag about it. Here in VNs book - tony - really believes that people who live on round hill road are superior. so he wrote book to show how great he is and he sort of tricked himself into believing he belonged because he had money and a nice house. However, his internal doubt causes him to over compensate in every way. I believe it what drives him to blow up more than once.
first, its dr. niederhoffer. yes, he is different and views the world in a unique way-- he has become exceedingly wealthy and is able to live his life his way and in his style. i extrapolate that you prefer the corporate cubicle sheep style and are afraid to stand out or stand for anything for that matter. his character has nothing to do with the way he chooses to dress, etc--- however, your comments about how you would judge someones character, tell volumes about you. surf
Very nice. And to keep the analogy going, marketsurfer is Annette from the movie Saturday Night Fever. Desperate for Tony's attention, she'll even submit herself to a gangbang in the backseat.
Oh, yeah, like I'm going to refer to him as the good doctor. Wait for it. Look, the guy is screaming for attention. I am merely hearing those blood-curdling screams. You "extrapolate" incorrectly. Standing out for its own sake is like having a spoiler on a Pinto. Are we supposed to ignore his lime suits? He certainly doesn't wear them to be ignored. "Look at me! Look at me! Look at me!" I am merely looking, and giving him his due. Not surprisingly, you also seem to revel in any kind of attention that you can muster up. The point is that I find such behavior laughable, and so I respond accordingly. I am judging what he consciously and intentionally presents to the world for our consumption. In the normal course, substance is rarely so colorful. And I didn't think that the antidote to a "corporate cubicle loser style" is a pastel colored double knit leisure suit. Is that what you "stand for?" As for his trading, those far more knowledgeable than I have already made interesting observations. I won't pretend to understand the nuances of options trading (and neither should you) since I don't trade them. However, I understand conceptually what most agree is his modus operandi and, suffice it to say, I would rather keep what little money I have in a shoe box. Surfer, why is it that you repeatedly remind me of Smithers, Mr. Burns's assistant on The Simpsons?