Niederhoffer In Trouble..... Again !!
- Thread starter cosmokramer
- Start date
So, by your own account, what you're saying is that those evil bastards essentially "ran your stops," so to speak. They saw an exploitable weakness and they pursued it. Unprecedented!
As an aside, you may wish to put Reminiscences on your reading list soon since, in a little over a decade, it will be one hundred years old.
IIRC, VN's fund in question (through Optima FoF or whatever it was called, which sold the SP par-puts) had not exceeded $200MM in AUM. To assert that anyone would go hunting for stops in a $200MM fund is ridiculous. I know that one SP option local was as a buyer of those puts (on the actual ticket(s)).
Now why did we resurrect this thread?
Now why did we resurrect this thread?
Do you have a link to that decision? Preferably in pdf form. I can't find it on Google.
thats why his collections ended up on the auction block? Because he won in court? I would also like to see a reference on the net to a lawsuit VN won how the 1997 crisis originated because some evil forces conspired against him. LOL!!!
By the way, I wonder why VN&Friends have such strong interest in upholding his fictitious reputation here on ET? Is the troll board his last hope to regain credibility? I thought ET is for entertainment. For some apparently not...;-)
By the way, I wonder why VN&Friends have such strong interest in upholding his fictitious reputation here on ET? Is the troll board his last hope to regain credibility? I thought ET is for entertainment. For some apparently not...;-)
You do not need to explain. The very few real traders on this site give their agreement through silence and observe in quiet contemplation. The remainder are extremely limited people with ego issues - certainly not those who have ever worked to achieve anything of value, and as a consequence of this are quite eager to kick a successful man when he is down.
Many of those very consistent and successful private traders who have true understanding of the markets still have the advantage of trading a small size relative to the liquidity of the market. I would imagine less than a dozen here have had direct experience of trading real size, and therefore the challenges in accurately forecasting future liquidity and getting deals done in adverse conditions without tipping your hand to other large interests.
I wonder if nokomisjeff is reading this - if so I am certain he is privy to more information on this subject and could state Mr Niederhoffer's case far more succinctly.
Kind regards
No, I would've heard if so, and AFAIK Vic got very little in terms of damages. Perhaps you can reply with the damages awarded as you seem to be privy. He's not my friend; a buddy of mine (initials MY) cleared his firm as a local. It was obviously a series of large orders (to open and close) and everyone wanted a piece.
The local was large in the initial trade and the cover. He bought a house in the Yellowstone Club with the proceeds from Vic's offset.
