Richard Dennis and Turtles In Chicago Tuesday
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Quote from Landis82:
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!
did he have to pay it all back after the lawsuit?
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All one elaborate ruse over 25 years?
funny this comes up. i often thought that it was some kind of marketing ploy as i have never seen any proof other than hearsay and questionable evidence--from the players themselves.
no offense meant, but what i have seen is shaky
surf
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If one dives into my book ("<a href="http://www.amazon.com/exec/obidos/ASIN/0061241717/trendfollowin-20">The Complete TurtleTrader</a>") on the subject, absorbs every word, reads the end notes, looks at the performance data, notes the CFTC filed disclosure documents over the last 25 years, and comes to the conclusion that it never happened...well...I don't have much more I can add!
obviously i am not questioning that these traders existed, traded or their success or lack of success. simply questioning if the turtle experiment actually took place at all and/or in the manner in which it has been reported.
surf
The part that you seem either unwilling or unable to comprehend is that VN's risk adjusted return leaves much to be desired. Did you catch that, surf? Risk adjusted return. Leaving much to be desired.
Accepting risk is one thing. Accepting multiple blowups as a matter of course is quite another. Retrospectively, it is clear just how unacceptably deep the water was when he was making money. The numbers were only impressive when he was making money if you didn't look down. As Buffett once said, âOnly when the tide goes out do you find out who is not wearing a bathing suit.â
How challenging it must be for you, operating without a clue.
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I am the one who has done the most comprehensive "reporting" on it. It's all in 80,000 words. If you got an angle to counter, let's hear it!
no doubt. how about some hard proof other than he said/she said that the experiment took place. the burden rests with the one who makes the claims not the skeptic.
best,
surf
Quote from Thunderdog:
The part that you seem either unwilling or unable to comprehend is that VN's risk adjusted return leaves much to be desired. Did you catch that, surf? Risk adjusted return. Leaving much to be desired.
Accepting risk is one thing. Accepting multiple blowups as a matter of course is quite another. Retrospectively, it is clear just how unacceptably deep the water was when he was making money. The numbers were only impressive when he was making money if you didn't look down. As Buffett once said, âOnly when the tide goes out do you find out who is not wearing a bathing suit.â
How challenging it must be for you, operating without a clue.
im not following your point. professional hedge fund investors choose to invest into the strategy, for anyone to question these investors not understanding the risk is ludicrous. believe it or not, there are those WHO LIKE TO TAKE RISKS with their money who actually have large sums of it. unlike the typical retired accountant we find on elite,
surf