Quote from Cutten:
There are some crazy factoids in that New Yorker article about Niederhoffer.
He admits that he paid an associate to tour the brothels of South-east Asia, and then made a large investment with his clients' funds on the basis of the state of Thai whorehouses. I have nothing against unconventional approaches to the market, but this is ridiculous! In any case, shouldn't one be buying when the brothels are half-empty and doing terrible business, rather than when they are thriving and upgrading their facilities?
On his website and in his book he repeatedly slated Ben Graham for being a philanderer and a bit of a cad when it came to his love life; yet it turns out Vic had a mistress while he was still married, had a child out of wedlock, and has been going to and fro between the two women since then. That can't be easy on his wife or kids. If you are going to criticise an investor for his private life, shouldn't you make sure your own house is in order first? Not to mention the alleged assurances he gave to Baron that everything was ok with his funds. Quite how he squares this behaviour with his libertarian principles is beyond me.
I was shocked to see how much detail about his private life surfaced in that article and feel bad for some of the people involved. If I were them, I'm not sure I would be enthralled by my personal life being splattered across the media... I wonder if this is something VN allowed the reporter to post or whether the latter took it upon himself to lay it all out.