This board is too f'in funny...
Victor Niederhoffer's Matador Fund is down 12% in 2006
- Thread starter richardyu301
- Start date
This board is too f'in funny...
You don't need anyone to teach you?
"She MIGHT be a good trader."
"But you would "like to see more evidence before I take it any further than that".
This is a kind of verbal "divergence" that the rest of us call "bullshit". I am sure you hear this all the time.
Hey I don't want to cause you undue tension. For all we know you could be on some medication or under the care of a mental health specialist for any number of personality disorders.
I am not a mental health practitioner but I would encourage you to stay with a course of treatment that works for you, and try to integrate those personalities into one if possible.
I won't be teasing you anymore regarding this. It wouldn't be fair.
Good luck with that.
Steve
"She MIGHT be a good trader."
"But you would "like to see more evidence before I take it any further than that".
This is a kind of verbal "divergence" that the rest of us call "bullshit". I am sure you hear this all the time.
Hey I don't want to cause you undue tension. For all we know you could be on some medication or under the care of a mental health specialist for any number of personality disorders.
I am not a mental health practitioner but I would encourage you to stay with a course of treatment that works for you, and try to integrate those personalities into one if possible.
I won't be teasing you anymore regarding this. It wouldn't be fair.
Good luck with that.
Steve
Quote from steve46:
I noticed this thread, and could not resist re-posting my original comment
http://www.elitetrader.com/vb/showthread.php?s=&postid=1119954&highlight=Neiderhoffer#post1119954
Also I am particularly interested in this quote taken from the original post on this thread.
"I have complete trepidation about going under again. I have seven kids and I couldn't afford that," he says. "But I don't know how to make money without a lot of risk."
From my standpoint having managed money successfully over a period of more than a decade, I have to smile at this. It seems to me that managing risk is the real challenge for a professional. When its not YOUR money, it is easy to make big bets, and to accept that you will either be a big winner, or blow out your accounts. Mr. Neiderhoffer doesn't demonstrate much in the way of professional expertise does he?
Finally, I wonder how investors feel about his "program" now. Unless he can stage a terrific recovery, I think he will see a lot of redemptions and account closures this year, leading ultimately to his departure from the business. Somebody should poke him with a fork, cause honey, he's done
So true, definitely agree with your old post.
Normally I would just say, "I have nothing to add." But the greatest service to me that ET serves is to see a great deal of the human condition bare.
To me the VN of old and the VN of new provides on of THE most important lessons of markets as it relates to a given style. But that discussion is beyond most people here who would rather gossip and vicariously put people down through an anonymous alias...
nitro
So Nitro, are you saying, that on a trading related open forum we can't discuss the trading and money managing abilities of one of the allegedly best trader of all time? Because I assume that would be irrelevant or offtopic?
Hm, thinking about it, you might be right, so let's talk about the weather! It is freaking hot and humid here, how is it there, where you live? [sarcasm off]
By the way to stay on topic, a quote from the article posted on Vic's website:
http://www.dailyspeculations.com/ROAS.pdf
"It's Wisdom's job to ensure that Niederhoffer doesn't get carried away again. "I am the fail-safe" Wisdom says,"I have gotten good at keeping us one step ahead of the bill collector." Wisdom says he is willing to take losses of 15-20% a month."
Now the fund went from up 31% by the end of April to down 12% in 2 months. What was Mr. Wisdom doing? Seems to me that the fail-safe failed to save....
Hm, thinking about it, you might be right, so let's talk about the weather! It is freaking hot and humid here, how is it there, where you live? [sarcasm off]
By the way to stay on topic, a quote from the article posted on Vic's website:
http://www.dailyspeculations.com/ROAS.pdf
"It's Wisdom's job to ensure that Niederhoffer doesn't get carried away again. "I am the fail-safe" Wisdom says,"I have gotten good at keeping us one step ahead of the bill collector." Wisdom says he is willing to take losses of 15-20% a month."
Now the fund went from up 31% by the end of April to down 12% in 2 months. What was Mr. Wisdom doing? Seems to me that the fail-safe failed to save....
Very few people here are focusing on what is actually important about his results (as far as money management is concerned) and are on track to talk in a similar fashion to what you find in the National Inquirer.
There is a great deal to talk about that is of real interest that not one person has even hinted at. It is actually rather funny how people don't give other people the benefit of the doubt and that in fact what most propose here may simply be very hard to do and his large drawdowns has less to do with psychology than most think.
But, continue on your way...
nitro
There is a great deal to talk about that is of real interest that not one person has even hinted at. It is actually rather funny how people don't give other people the benefit of the doubt and that in fact what most propose here may simply be very hard to do and his large drawdowns has less to do with psychology than most think.
But, continue on your way...
nitro
Care to give us that hint?
Where/How/Why does one put stops? How are stops placed in an even more complex situation like options that are multidimensional wasting assets? How are stops related to your style of trading? How are stops related to the statistics of your equity curve? Is it wise to use normality assumptions in stop placement? Is a stop for you the same for me, even percentage wise of account? The list goes on forever....
All I can tell you is I have lived it. Read his books and take him at face value. If you believe he is being honest, then it probably ranks as one of the greatest market books ever written. Match it with your own trading experience, and you will see for yourself the entire art of trading is somehow encapsulated in his experiences. As a student of the markets, that is all that should matter.
What is funny is that most people find VN as some egomaniac. I think he has more in common with the common trader than 95% of all people that run these funds, and his books and writings are an extroversion of that fact.
nitro
Your contribution is noted.
