Victor Niederhoffer--- Rare Silver Auction Catalog

Quote from Icarus5:

1. They changed the rules on Vic in the middle of the game.
2. They changed the rules and played games with Soros also, which is at least one reason why he probably didn't like the way Vic played the game ... because he knew what could go on behind the scenes, and apparently Vic didn't.
3. Everything is on our part is conjecture, until Vic writes the documentary about what led up to his downfall and puts it in print.

I
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When you say THEY,are you referring to the CME,the clearing agents or some other entity? I would imagine that any sophisticated investor would be fully aware of those type of events and possibly account for it in their decision making process.

You are correct that it is conjecture,but it is not conjecture that Vic blew up in a 12% move from peak to through(9% off closing prices).I think we are in agreement there was a fair amount of leverage being employed.A betting man would have to assume that Vic was also short excessive gamma to run into that type of trouble on that type of move.

Should Vic have been short any longer dated options below 75% of spot strike for less than 2%(which it is),I would maintain that he was simply taking advantage of the margin requirements and blindly selling downside skew..

Worst case scenario,Vic blows up,and the reserve fund of the exchange and the clearing agents make good..

Interestingly enough,you and Surf point out that increased margin requirements led to Vics ultimate demise.What does that tell you about the Barefoot Wonders trading??

P.S. Do you think Vic was really Bullish or do you think he just loved selling those juicy,fat,delectable fat tails....
 
Quote from marketsurfer:

when are positions disclosed to hedge fund investors??

then we have guys like austinp--who is a great guy--- but really has no understanding of operating with VN size, etc, yet feels compelled to comment...

seriously, this is getting more and more bizzare.....


surf
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My brother asked, as he knows someone on Vic's team as well as people at Octane. I've got the email correspondence.
 
Quote from Red_Ink_inc:

Were they supposed to wait until he was out of his trade? The exchange is there to protect the exchange and investors not VN.

I was caught in two halted stocks this month. That's like me saying "how dare they not delay the halt until I am out of my position. They must be out to get me."

I am sure Mr. Niederhoffer has no problem accepting responsibility for his actions. You're making him look like a fool making these arguements on his behalf.
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The problem with Vics supporters is their testimonies are almost as daming as Vics P&L.

Vic is no fool.I give credit to Vic for exploiting the margining system and having more guts than brains to sell garbage options which require little to no margin capital..If I wasnt risk adverse,I too would be selling the downside skew as big as possible for 60 Bps....
 
Quote from Icarus5:

translation: Including the miss-naming, I want to bait you and argue with you on a personal level.
***
Um, no thanks, I'm more than done with presenting extensive evidence of Victor Niederhoffer's excellence in all things trading and more to the readers of the thread.

The can draw their own conclusions, I'm sure it won't matter to Vic, and it definitely doesn't matter to me. :cool:

Goodbye,

I
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I assure you I have no desire to argue with someone who signed up here all of 3 days ago.

As far as your presentation of 'excellence in all things trading', would that include getting virtually wiped out for a second time on a 10% correction?

I am sure Niederhoffer is a swell guy. However, as you said you would, it would be better if you keep your hero worship, or rather your tragic hero worship to yourself.
 
Quote from taowave:



Worst case scenario,Vic blows up,and the reserve fund of the exchange and the clearing agents make good..

Interestingly enough,you and Surf point out that increased margin requirements led to Vics ultimate demise.What does that tell you about the Barefoot Wonders trading??
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that MAY have been one aspect combined with redemption requests right at the WRONG time that led to this situation--- among other possibilities.

this claim of knowing the positions is BS. only VN's team and the clearing firm knows and if anyone disclosed it --- it's a serious breach of fiduciary responsibility. it aint gonna happen, then again on an anonymous message board--- get real!

surf
 
Quote from marketsurfer:

that MAY have been one aspect combined with redemption requests right at the WRONG time that led to this situation--- among other possibilities.

this claim of knowing the positions is BS. only VN's team and the clearing firm knows and if anyone disclosed it --- it's a serious breach of fiduciary responsibility. it aint gonna happen, then again on an anonymous message board--- get real!

surf
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Surf,I have to hand it to you...

When you like someone,you stick with that person thru thick and thin....
 
Quote from taowave:

Surf,I have to hand it to you...

When you like someone,you stick with that person thru thick and thin....
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thanks,man, i do my best to support my friends. VN and his team have guided and helped me in numerous ways, it's the least i can do.

best wishes,


surf
 
Quote from marketsurfer:

thanks,man, i do my best to support my friends...
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While I will agree that this is an admirable trait, let us not forget an essential and overriding principle:
Quote from Rearden Metal:

...However, my first loyalty is to the <b>truth</b>.
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http://www.elitetrader.com/vb/showthread.php?s=&postid=1719312#post1719312

That aside, I suppose that you could teach the world a thing or two about unconditional love. I expect that you are a good friend, if perhaps goofy at times, to the people you care about.

"Tis the season. Peace on Earth, and all that...
 
Quote from Thunderdog:

While I will agree that this is an admirable trait, let us not forget an essential and overriding principle:

http://www.elitetrader.com/vb/showthread.php?s=&postid=1719312#post1719312

That aside, I suppose that you could teach the world a thing or two about unconditional love. I expect that you are a good friend, if perhaps goofy at times, to the people you care about.

"Tis the season. Peace on Earth, and all that...
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:D


not love,man, more like respect for VN.

but i get your drift, thanks!

peace,

surf:)
 
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