Although I publicly broke the Niederhoffer blow up on ET well before any other media, message board or blogging source, I claim no knowledge of what's going on at Schindler Trading. I only know what I've read here. In fact outside of ET I've never heard of Schindler. While one can't help but revel in Vic's demise, if Aaron's story is true the feeling is quite the opposite. Schindler seems like a nice guy who tried hard to make his fund work. Alas, his drawdowns were massive. The breakdown of these two fund managers has broad ranging implications. If two men of indisputable intelligence, training, education and trading experience can both come to the conclusion that mechanical systems don't work, then what to make of the backtesting crowd? Would Vic and Aaron be alive if they'd hung out with Woody? Or Jack? Subscribed to TS? We're talking about two guys savvy enough that they have backtested everything under the sun. Yet they made a decision that selling premium was virtually the only way to cheat a negative expectancy. All of which begs the question, are systematic results fallacious? Does any traditional indicator "system" generate profits over an infinite span? Is it even possible for such a system to exist given the constant transition between trend and chop?