That is exactly the thing. The truly great traders in history have literally amassed a hundred to a thousand times more wealth for themselves and their clients than Niederhoffer ever did, without ever blowing up. And yet, the truly great traders would never be caught dead bragging about themselves in this fashion.
Niederhoffer attracts negative attention precisely because he is such a blatant hypocrite. He goes on and on about statistics and then completely abuses them. He repeatedly declares himself humble in one of the most arrogant trading books ever to be written. He trashes others with multi-decade track records of success (trend followers, Buffett etc) even though there is NO ONE with a multi-decade track record of success selling volatility, including him. He telegraphs his eventual demise all throughout the book, bragging about the warnings he has received from Soros and others, bragging about how the Yen almost killed him. Then he actually does get killed, says he is a changed man after his blowup, and demonstrates that he hasn't changed at all.
There is something psychologically amiss with Victor Niederhoffer. Based on simple observation of his track record and his statements, it is clear that he is a danger to himself and others in the markets. Anyone who does not see that is either unintentionally or willfully blind.
Niederhoffer and his lap dogs bring out ire in other traders because he violates the basic principles of arete. Arete, the greek concept of virtue and personal excellence, is embedded in the spirit of trading. Most (successful) traders would recognize their subconscious embrace of arete, whether or not they'd previously heard the word. Vic's hubris, and his deception, and his plain shitty methods of making money, all spit in the face of arete.
I for one do not hate Niederhoffer. I doubt anyone on this thread really does. I would tell him my thoughts face to face if I met him, but more out of a desire to help than hurt. If he were to come clean, do a mea culpa, and show real evidence of change, he would probably be forgiven by most of his detractors here, because forgiveness is a part of arete too. But I doubt he will ever change. Not that he needs to change. He can do and be whatever the hell he wants. I'm just pointing out why he has attracted more attention than your average losing trader. It's because his habits and actions are such a blatant violation of the arete concept, which is close to the heart of many traders.
Anyone with an absolute dollar return above $0 probably has a better track record than Niederhoffer. But again, it's not so much about the achievements as it is Vic's violations of arete, and the weak-ass attempts of his defenders to rationalize away his shortcomings.
As to your hypothesis, it's pretty weak. Traders are allowed to express opinions and have conversations. Being opinionated is kind of a prerequisite for stepping up to the market in the first place.
That's the thing. It's so far from accurate as to be laughable. And those with a true claim to greatness would never brag about it in the fashion Niederhoffer did, even though they have a legitimate right to. That says something important in and of itself.
