Obfuscation and obtuseness nothwithstanding. As an aside, your repeated and vaguely derisive reference to libraries hints at an aversion to literacy and knowledge. Your posts bear this out.
Once again, the bitter loser Thunderdog shows up in a thread that celebrates success. Go be a college professor. Trading is not for you.
v n can easily accomplish these performance numbers using spreads. spreads used correctly can eliminate risk of ruin.
thx for the comment bolter. i greatly enjoyed your Market Profile thread. learned a lot, and have incorporated it into my trading of YM. it's improved my trading. thx again.
How delightful to see you again, in thread after thread (after thread). Your faithful and continued readership is much appreciated, but I must confess that I am a bit overwhelmed by all this attention. You're not planning on buying me a wrist corsage, are you? As of this moment, 13:55 EST, March 15, 2006, nine of your last ten posts, dated between February 21 of this year and today, were either addressed to me or are about me. Each one endeavors to show how I know nothing. Not because of a specific fallacy in my reasoning, but simply...because. Admittedly, that does cut down on superfluous typing and, if anything, you are the model of efficiency. In the normal course, when I criticize someone, I usually make an effort to pinpoint something specific. But evidently, you are not weighed down by such cumbersome restraints. Indeed, I am a bitter loser because I do not "celebrate success," such as in the threads you followed me into regarding Larry Williams, or his %R indicator, or how readily probable it is to make 1% per day. Yes, that's what the real traders are talking about: how Williams is a legend, the efficacy of his %R indicator, and how pedestrian it is to make 1% per day.
240MM is a drop in the bucket compared to the insane amounts of hedgie money sloshing around... with all those successful careers he launched, Vic could have ginned up that much in sympathy cash. He's probably running money exactly the same way as before. If there were a way to hedge naked risk and still get 50% plus returns from a return-to-the-mean strategy, it would have been discovered and arbed away by other funds. Alternatively, if Vic has really found some secret sauce that gets him more reward for less risk, he should be running a lot more than 240MM in this sea-of-liquidity environment. What's changed is the sophistication of Vic's customers and the sheer size of their funds under management. It wouldn't be hard for an institution or large hedge fund to create a portable alpha / deleveraging type strategy where, instead of investing $100 million aggressively, they give $10 mil to a hard charger like Vic and put the rest somewhere safe. Or a long / short fund with a few billion on both sides of the market could toss a few crumbs to Vic just to cover the cost of their short sales--if he keeps cranking out 50% returns, great, that helps cover the interest on the shorts. If he blows up, who cares, that means the shorts are going down. Point being, he isn't likely to have turned over a new leaf... heck, just look at the name of the fund, "Matador"... the guy bragged about his near-death experience with the Yen in his book, and he hasn't changed his tune one bit since then. Its more likely that Vic's customers understand the risks these days, are sophisticated enough to compensate for them, and see a few tens of millions here and there as small potatoes. His smart customers, that is. There are probably at least a handful of wide-eyed investors in there who think its different this time. p.s. in the markets of recent years, willingness to take on more risk than his fellow managers is probably why Vic is on top. Witness his messianic bullishness, his refusal to accept that trends exist, and his refusal to ever go short. This ain't sour grapes as much as pointing out a correlation--he's probably on top because he's still reckless, and recklessness has again paid off. For now. p.p.s. if anyone has documented statements or strategy outlines presented by Niederhoffer that indicates he really has changed his ways, I'll eat my words. Gotta see it to believe it though.
Bravo. He is a known entity in this business. Even those who have worked with him in the past have not placed much with him. Kinda like the adage - stocks that are cheap are cheap for a reason. Can't teach new tricks ......