I do not doubt that some parts of the story were massaged a bit for purposes of good public relations. However, most of the "turtles" from that era appeared to do fairly well after their stint with Richard Dennis was completed.
Sorry, Chow Mein, it was Eddie Murphy in Trading Places. Regardless of what you say, the basic Turtles concept works everyday all day long. It is so simple, the janitor can do it. Why are you raging on them?
I make the case that the dividing line was a certain entrepreneurial makeup (and the traits that go with that) among successful and unsuccessful turtles. One of those factors being discipline of course, but not the only factor. I don't see any background that equaled success for the successful turtles.
i think the connection is that both niederhoffers focus on short term quantitative trading. I believe one intention of Roy's fund is to offer a diversification from other asset classes, particularly a conventional stock portfolio. Victor has had a different philosophy which is a primary cause of their different results or styles.
maybe it's a good system. I have no clue. I just know the story is made up marketing bullshit zero evidence of truth other than from those who keep profiting from the bogus story anecdotal evidence is weak at best
I don't know anything about the trend following guys or anybody else using the Turtle name to make money...and there are/have been some. However, Richard Dennis is the real deal and the Turtles happened. The fact that he traded himself into a ditch is also real....oops!
A buddy of mine took the other side of the "vulture" trade that occurred when the clearing firm that handled Niederhoffer's S&P options positions came in that one Tuesday morning at the end of October 1997 at the CME and started buying back those naked puts. The Vol was pumped-up to obscene levels and my buddy knew that if the market just traded "flat" for a day or two, he'd make a small fortune. Michael Goodwin made $45 million on that "vulture" trade for the equity derivatives desk at Deutsche Bank that week. Got a nice year end bonus, too!