i have no idea who this guy is. never read any of his books, but did read his story after this thread.. http://en.wikipedia.org/wiki/Victor_Niederhoffer have no idea,what this buzz around him is all about. honestly-it's looks more like gambling to me. wall street style. fund making the money-he pocket management fees and performance fees. then-fund blows up-no problem for him,since he already pocket the money. wait for couple years-then start all over again..write and sell some books somewhere in between,to fool more people...rinse and repeat.
It might be that when the current year's positions underperformed, it is easier to want to start fresh in the next year with a clean slate. When the current positions have worked well, however, one just wants to let it ride rather than let the tax man take his cut prematurely. Perhaps it will be folly and as Niederhoffer suggests the cycles change, but I am hard pressed to want to make any radical changes in the coming year. My ideas will largely consist of my current outlook/portfolio.
Yeah, it's as simple as that, but with a condescending financial poet alter-ego on ET...That's the bad part. However, his little contest is fun at least, so we shouldn't interfere.
It's clearly not Victor. Although it may be his wife or children jerking your chain. Relax and have some fun.
Folks, with the new year approaching, we have much to think about in terms of planning and getting focused so that -God willing- we can make 2011 our best year ever. The contest is a wonderful opportunity to do some macro-brainstorming or fundamental stock picking for the coming year and to share what you have with like minded individuals. "Your best money making ideas". What do you have to offer??
What? Vic has made tremendously more over the years for his investors than he lost. Hedge funds are risky, but I guess you haven't a clue what that means. Only sophisticated investors can participate so go back to your mutual funds and reading the rich dad book. You will never understand.
Yes, Surf, yes. He made money for sure. LOL. Happy new year by the way. Sorry for hijacking the thread.
i think we do understand just fine. one more time,in case you didn't saw my post on previous page- 75% decline in one year mean risky,directional bets on huge margin=blow up. typical choice for FX noobs,trying to make a dough out of 1000$ deposit on margin x100-200.dunno how VN ended up in same shit at least TWICE. of course somewhere in between he did make money for someone,who was lucky enough to be in and out before this 75% drop. to me-real pro mean steady ,positive returns greater than market,year over year,regardless to market direction. example:SP500-20%,your fund -10%-doesn't count as a great return.