Niederhoffer's year end contest! ($2500 prize for 3 best 2011 trading ideas)

[Bob111]

Quote from TraDaToR:

I would prefer him to give away 4000$ silently, without comparing himself to Mozart. He can give away everything he wants, but until he recovers all the investors money he lost, he should just shut the F*** up and thank the Hedge Fund God every day they are not regulated better.

i have no idea who this guy is. never read any of his books, but did read his story after this thread..

http://en.wikipedia.org/wiki/Victor_Niederhoffer

have no idea,what this buzz around him is all about.

Since closing down his fund in 1997, he began trading for his own account again in 1998, after mortgaging his house and selling his antique silver collection. This original fund is called Wimbledon Fund, the name reflecting his love of tennis. He began managing money for offshore clients in February 2002, with the Matador Fund. Niederhoffer employs proprietary programs that predict short-term moves using multivariate time series analysis. In a five-year period beginning in 2001, Victor Niederhoffer's fund returned 50% a year (compounded). His worst year in this period was 2004, returning 40%. In 2005, he returned 56.2% (as reported in eFinancial News). On April 6, 2006, the industry group MarHedge awarded [8] Matador Fund Ltd. and Manchester Trading, two funds managed by Niederhoffer, the prize for best performance by a Commodity Trading Advisor (CTA) in the two years 2004 and 2005.

However, Niederhoffer's funds were caught up in the 2007 financial turbulence and credit crunch, and the Matador Fund was closed in September 2007 after a decline in value of more than seventy-five percent.

honestly-it's looks more like gambling to me. wall street style. fund making the money-he pocket management fees and performance fees. then-fund blows up-no problem for him,since he already pocket the money. wait for couple years-then start all over again..write and sell some books somewhere in between,to fool more people...rinse and repeat.

 

[1prometheus]

It might be that when the current year's positions underperformed, it is easier to want to start fresh in the next year with a clean slate.

When the current positions have worked well, however, one just wants to let it ride rather than let the tax man take his cut prematurely.

Perhaps it will be folly and as Niederhoffer suggests the cycles change, but I am hard pressed to want to make any radical changes in the coming year. My ideas will largely consist of my current outlook/portfolio.

 

[TraDaToR]

Quote from Bob111:


honestly-it's looks more like gambling to me. wall street style. fund making the money-he pocket management fees and performance fees. then-fund blows up-no problem for him,since he already pocket the money. wait for couple years-then start all over again..write and sell some books somewhere in between,to fool more people...rinse and repeat.

Yeah, it's as simple as that, but with a condescending financial poet alter-ego on ET...That's the bad part.

However, his little contest is fun at least, so we shouldn't interfere.

 

[Slapshott]

Quote from Pekelo:

Obviously not, because Victor himself is not allowed to participate.

Vic, I mean Thoreau, you should run it monthly, because by March everyone will forget the entries and one year is just way too long to have any meaningful fun or education out of it.

But my entry would be: Buy any dip....

It's clearly not Victor. Although it may be his wife or children jerking your chain. Relax and have some fun.

 

[1prometheus]

Folks, with the new year approaching, we have much to think about in terms of planning and getting focused so that -God willing- we can make 2011 our best year ever.

The contest is a wonderful opportunity to do some macro-brainstorming or fundamental stock picking for the coming year and to share what you have with like minded individuals. "Your best money making ideas". What do you have to offer??

 

[Slapshott]

Quote from TraDaToR:

I would prefer him to give away 4000$ silently, without comparing himself to Mozart. He can give away everything he wants, but until he recovers all the investors money he lost, he should just shut the F*** up and thank the Hedge Fund God every day they are not regulated better.

What? Vic has made tremendously more over the years for his investors than he lost. Hedge funds are risky, but I guess you haven't a clue what that means. Only sophisticated investors can participate so go back to your mutual funds and reading the rich dad book. You will never understand.

 

[TraDaToR]

Quote from Slapshott:

What? Vic has made tremendously more over the years for his investors than he lost.

Yes, Surf, yes. He made money for sure. LOL. Happy new year by the way. Sorry for hijacking the thread.

 

[Slapshott]

I think Baron should run the same kind of contest. Perhaps on a monthly basis?

Happy New Year!

 

[Bob111]

Quote from Slapshott:

What? Vic has made tremendously more over the years for his investors than he lost. Hedge funds are risky, but I guess you haven't a clue what that means. Only sophisticated investors can participate so go back to your mutual funds and reading the rich dad book. You will never understand.

i think we do understand just fine. one more time,in case you didn't saw my post on previous page-

However, Niederhoffer's funds were caught up in the 2007 financial turbulence and credit crunch, and the Matador Fund was closed in September 2007 after a decline in value of more than seventy-five percent.

75% decline in one year mean risky,directional bets on huge margin=blow up. typical choice for FX noobs,trying to make a dough out of 1000$ deposit on margin x100-200.dunno how VN ended up in same shit at least TWICE. of course somewhere in between he did make money for someone,who was lucky enough to be in and out before this 75% drop. to me-real pro mean steady ,positive returns greater than market,year over year,regardless to market direction. example:SP500-20%,your fund -10%-doesn't count as a great return.

 

[cstfx]

Quote from TraDaToR:

Yes, Surf, yes. He made money for sure. LOL. Happy new year by the way. Sorry for hijacking the thread.

Like I said, pathetic.