Niederhoffer & REFCO

Discussion in 'Wall St. News' started by CPTrader, Oct 25, 2005.

  1. Niederhoffer is apparently on a list of possible props that Goldman can use to distract inquiring minds from scrutinizing its own, and Thomas Lee's own, nearly unbelievable blunders in the Refco IPO disaster and subsequent divvying up of the spoils.

    GS and Thomas Lee are supposed to be at the pinnacle of their respective fields. Yet they were in the driver's seat on this deal that any b-grade investment banker would probably have seen right through. It's like Jeff Gordon driving with his eyes shut.

    can anyone say, "due diligence?"
  2. nkhoi

    nkhoi Moderator

    look like he read ET too, quote of quote :D
  3. I think I got it before you did. :D


    Registered: Sep 2005
    Posts: 733

    10-25-05 10:57 AM

    Niederhoffer on Refco.




    Registered: Sep 2003
    Posts: 540

    10-25-05 12:48 PM

    What do you guys think about this?
  4. range


  5. pismo rocks!

    surfer:) :cool:
  6. Maybe the Wall Street Journal is angry with Niederhoffer because he has always preferred the National Enquirer.

    I will show my solidarity with Niederhoffer by not buying the WSJ in one week.:eek:
  7. Taleb has a letter of support for VN on VN's webstie.

    Also VN is having a stellar year (up +40%) on 200M of assets, and he was up 50% in 2004 & 40% in 2003 - facts the WSJ conveninetly left out.

  8. thanks, cp. MANY facts were left out of that piece of shoddy journalism.

  9. I can't believe the recklessness of the WSJ article... and I was glad to see VN react in a calm and measured way. If it was me, I'd probably sue them, reputation notwithstanding, in a heartbeat. While I do not endorse traders selling books who have blown up multiple times, comebacks or not, and don't find VN's material helpful, I have to say that he was grossly and unfairly linked to the Refco debacle. Also, to come back after such a loss in 1997 required massive courage and determination, which I think everyone can be inspired by
    #10     Oct 26, 2005