Quote from Pabst:
I can't help but contrast the fortunes of John Meriwether and Vic. While JWM Partners "only" returns about 15% per annum they have raised over one billion dollars. Niederhoffer has garnered substantially higher returns than JWM yet he's trading with about 1/6th the capital of the former LTCM partners.
It would thus appear investers feel that despite LTCM's 1998 blow up, Meriwether & Co can achieve solid returns with less risk than Vic.
Surfer. Is a strategy like Vics, selling puts, not a quasi- trend following strategy? Does he not get SMOKED on hard market declines?