The guy remains very well off with multiple properties including a 13 acre estate in CT full of valuable art/artifacts that looks like a museum. He is quite the opposite of a failure and its indeed humorous seeing anonymous internet posters making the opposite claim. regards, surf
Trading wise he was a complete failure. He blew out all his investors money twice. That Surf, is failing. I am not sure why you are bringing up real estate holdings. That's not what this discussion is about. Is about trading.
If I had lost money for my investors, I would sell my real estate and give them proceeds to make up for their losses. For whatever reason, VN doesn't want to do that. In fact, he sent his hat around a second time and lost it again. There is no difference in VN and a Silicon Valley IT manager who quit his job in 1999 to daytrade tech stocks. Both of them lost all the money. The end result was the same.
would of could of should of--funny seeing no name, nothing to lose net denziens cast judgement on things they know nothing about. facts are the guy turned 50k of his own money into 50 million in a 10 year span, returned many fold to his investors over the next multiple years, then blew out. then started again, rose to be the #1 ranked manager once again, then blew out. still way ahead of the game, despite the 2 unfortunate blow outs. regards, surf
How is one way ahead of the game after imploding twice? Zero=Zero Surf.............that's what his investors were left with. You can worship him for his colorful clothes, his squash skills, his mind (he is a very smart guy)....but to praise him for his trading skills is ridiculous. He has none.
I don't think the article means that he had a 1000 folds cumulative returns in 10 years, but that he started out with 50K and 10 years later he was worth 50 million, due to profits AND fees, etc. One can have a huge personal wealth increase if he manages a large enough account, not necessery due to giant annual returns....
believe it or not, VN was always a small fish in terms of AUM-- a very small fish in fact. facts are, VN had giant returns year after year after year.....hence I am suprised that traders don't have more respect. regards, surf
From Wiki: "Returns Niederhoffer Investments returned 35% a year from inception through 1996, when MAR ranked it the No. 1 hedge fund manager in the world." Clearly, management fees are included in the 50 million... If AUM is 100 million (small fish) and he takes 20% of the profits, that is 7 million in one year as his management fee, not his absolute profits from trading his own account...
umm, the 50 million was from his personal trading, not hedge fund monies. the OPM came much later, the way i understand it. surf