Thanks for the find. Just to be neutral, 4 lines earlier he writes: "Soros gave me the nickname "loser", because it happened so often. I can't blame him. "Victor, you lost me 500 million this year" he would say. As I slunk away, he'd continue, "But who knows how much I would have lost without you." Also most people forget about his 9/11 dip because it wasn't with a fund: "Last fall, Niederhoffer sold a large number of options, betting that the markets would be quiet, and they were, until out of nowhere two planes crashed into the World Trade Center. "I was exposed. It was nip and tuck." Niederhoffer shook his head, because there was no way to have anticipated September 11th. "That was a totally unexpected event." From the interesting article comparing Taleb and Vic: http://www.gladwell.com/2002/2002_04_29_a_blowingup.htm P.S.: Who wants to post what happened to the 22 million?
Hence therein lies the difference between those of us who are close personal friends with VN & company and those who simply get their information second hand from news services. if you would know vic and what's occured over the last 10 years,your respect for the man and his accomplishments would be profound. one simply can't argue with the talent that has come from his tutelege and the lives touched by his willingness to teach from experience and not theory. Perhaps listening to those with first hand experience/knowledge would add to the discussion instead of turning the thread into a flame war. regards, surf
what your forgetting in VN has traded since the 1960's. the CT mansion was started to be built in 1987 on the eve of the crash. he was the originated of several of the trading ideas that are taken for granted today. how short everyone's memory is. this playa hatn is getting old. surf
Very true, so let's listen to Vic himself and learn: The Gold Trade, at this time he pyramided up from 40 K to 22 million: It seems to me Vic agrees with Cramer, that women/wives save the asses of foolish men....Cramer also credited his wife (I think he called her the Trading Goddess) saving his positions several times...
Well nice to know you're not biased. But here is a question. Would you personally invest in his fund? Isn't he raising money again or already has launched? You do claim to have a significant net worth, so, are you or do you intend to be a seed investor?
Groovy. Meanwhile, those of us who don't know him still await from those of you who do know him, the net percentage returns he generated on managed money after accounting for the two "mishaps."
Not to bash VN, but if you are selling puts you don't have the right to claim something happened 'out of the blue' That's why there's a market for the puts you sold. If not for the possibility of the unexpected, you would have to work for a living, not sell insurance to hedgers. This is so obvious, I'm embarrassed to even mention it.
Man...15 pages long.......if you guys put as much passion and intensity into your trading as you do on this board, you'd all be farting through silk! BT
Right, and you are the very same person who supposedly was in Vic's "inner circle" who knew absolutely nothing about Vic's status during the last debacle. Regardless, after 7 years of reading your lying bullshit, it would come as no surprise if you were aware of it and were doing your best to front as his PR man.