Richard Dennis and Turtles In Chicago Tuesday

I do not doubt that some parts of the story were massaged a bit for purposes of good public relations. However, most of the "turtles" from that era appeared to do fairly well after their stint with Richard Dennis was completed.


Quote from Sushi:

I dare anyone to show one thread of evidence that this isn't just a made up story.
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Quote from Sushi:

Turtles is a phoney baloney story based on the Richard pryor movie trading spaces. How stupid are you people? Marketing ploy
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Sorry, Chow Mein, it was Eddie Murphy in Trading Places. Regardless of what you say, the basic Turtles concept works everyday all day long.

It is so simple, the janitor can do it.

Why are you raging on them? :confused:
 
Quote from Trend Following:



On the flip side, as you mention, guys like Keefer, Svoboda, Rabar, Parker, Shanks, etc. were very bright. It was an intereting mix.
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How come no mention of <b>YOU KNOW WHO</b>?
 
Quote from maxxy:

Im wondering how the persons with more distinguished backgrounds compared to those with less distinguished backgroudns?
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I make the case that the dividing line was a certain entrepreneurial makeup (and the traits that go with that) among successful and unsuccessful turtles. One of those factors being discipline of course, but not the only factor.

I don't see any background that equaled success for the successful turtles.
 
Quote from Sushi:

I dare anyone to show one thread of evidence that this isn't just a made up story.
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Ignorance is bliss.
 
i think the connection is that both niederhoffers focus on short term quantitative trading. I believe one intention of Roy's fund is to offer a diversification from other asset classes, particularly a conventional stock portfolio. Victor has had a different philosophy which is a primary cause of their different results or styles.
 
Quote from patoo:

Sorry, Chow Mein, it was Eddie Murphy in Trading Places. Regardless of what you say, the basic Turtles concept works everyday all day long.

It is so simple, the janitor can do it.

Why are you raging on them? :confused:
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maybe it's a good system. I have no clue. I just know the story is made up marketing bullshit

zero evidence of truth other than from those who keep profiting from the bogus story

anecdotal evidence is weak at best
 
Quote from Sushi:

.... than from those who keep profiting ....
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I don't know anything about the trend following guys or anybody else using the Turtle name to make money...and there are/have been some.

However, Richard Dennis is the real deal and the Turtles happened.

The fact that he traded himself into a ditch is also real....oops!
 
Quote from EPrado:

Yes......and has blown out twice using a strategy that 1000's of people use. For such a smart guy he sure doesn't think outside the box much. Selling equity index puts....realllllllllllllllllll original.

Wonder if he will comeback and make an attempt of winning the triple crown of blowing out. He has won the first two legs.
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A buddy of mine took the other side of the "vulture" trade that occurred when the clearing firm that handled Niederhoffer's S&P options positions came in that one Tuesday morning at the end of October 1997 at the CME and started buying back those naked puts.

The Vol was pumped-up to obscene levels and my buddy knew that if the market just traded "flat" for a day or two, he'd make a small fortune.

Michael Goodwin made $45 million on that "vulture" trade for the equity derivatives desk at Deutsche Bank that week. Got a nice year end bonus, too!

:)
 
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