i think 87 was flat the best year for Henry's orginal system. you can check it out at iasg.com. he made 35.80% in oct, and around 129% for the year. his system either chose different markets or traded much differently than dennis' crew. a 25% loss was painful last month, but par for the course, in my opinion.
John Henry--The Next Blow Up ??
- Thread starter jay gould
- Start date
You mean the Turtles were SHORT interest rates futures and lost! If they were LONG then they would have made a killing. Remember, when rates go down, IR futures go UP. 10yr bond futures(ZN) and eurodollar would go UP. Therefore going long would be beneficial. It's an inverse relationship.
You meant to say the trend followers like Turtles went SHORT.
Yes, they were short because, before the stock market crash, the trend in prices was down. The Fed then cut rates sharply overnight following the crash and interest rate futures gapped massively up at the open (there was no overnight trading in interest rate futures at that time, even if there was, it still would have gapped).
The resulting slippage was huge and meant that their profitable positions in these contracts were now being closed at massive losses.
BTW, this can happen to any trader. I often laugh when I hear day traders saying that they day trade because they don't want to be exposed to overnight risks of, say, a nuke going off somewhere. Well if a nuke went off during the trading day, I would be really surprised if you didn't lose a lot more than you wanted to on positions that were negatively affected.
The resulting slippage was huge and meant that their profitable positions in these contracts were now being closed at massive losses.
BTW, this can happen to any trader. I often laugh when I hear day traders saying that they day trade because they don't want to be exposed to overnight risks of, say, a nuke going off somewhere. Well if a nuke went off during the trading day, I would be really surprised if you didn't lose a lot more than you wanted to on positions that were negatively affected.
much ado about nothin'
niederhoffer's fund is currently ranked( 2005) number 1 worldwide of all funds over 100 million by reputable ranking services.
any other questions?
john galt's axe
Did'nt neiderhoffer blow himself up couple of times? I understand he's running a new fund capitalised in the 50 to 100 mil range.
But I don't see him anywhere near #1 in the most recent rankings
http://www.iasg.com/mainframe.asp?
Yeah, I've got a few. Hedge funds aren't ranked as #1 but rather according to several criteria, performance, drawdown, volatility, etc. So I'm not sure what you mean when you say its ranked #1. Do you mean by performance? Then by which time period? or is it by another criteria?
Also, where did you get this info? What is his fund called anyway?
Also, where did you get this info? What is his fund called anyway?