LOL_Niederhofferaments
 

http://www.newyorker.com/reporting/2...printable=true

Hard to do this twice....but he did!

Re: LOL_Niederhofferaments
 

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http://www.newyorker.com/reporting/2...printable=true

Hard to do this twice....but he did!

[/ QUOTE ]

i've met this guy a few times and he is very demanding, a die hard libertarian, aloof, and sharp.

he wants only the best random idea generating people around him.

there is no way i am going to read that entire article though. i read the first 5 paragphs and the last 5 and got the idea.

it is unbelievable that he blew up ANOTHER (2) fund(s). absolutely unreal.

i guess we'll see how he comes out of this in a few months/years/(decade)? lol.

thanks for the update NoD.

Barron

Re: LOL_Niederhofferaments
 

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there is no way i am going to read that entire article though. i read the first 5 paragphs and the last 5 and got the idea.


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It will be very hard for you to make it in this business with that attitude.

The smartest and best-performing managers I know are voracious readers. On as many topics and articles and papers and books [and as much non-Finance if not more so] as they can.

Re: LOL_Niederhofferaments
 

He's such a smart, interesting guy, but he hasn't just blown up twice, he comes close to blowing up every few years. I think it was 2006 where he lost 30% in a month.

It's stuff like this why I've never been enamored of trading. Anytime you introduce leverage, and operate with very thin edges, volatility can kill you. This guy is one of the most brilliant, greatest traders of all time, and he's constantly trying to avoid total meltdowns.

Value investing allows me to sleep at night. The only leverage I use comes from my home equity, the fact that I still have car loans that I could pay off, etc. Stuff that won't get called if my account declines 35% one day. And I've never been leveraged to even 20% of my portfolio assets. It's slow and boring, but making 20%+ each year will eventually get me to my destination.

Re: LOL_Niederhofferaments
 

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[ QUOTE ]

there is no way i am going to read that entire article though. i read the first 5 paragphs and the last 5 and got the idea.


[/ QUOTE ]

It will be very hard for you to make it in this business with that attitude.

The smartest and best-performing managers I know are voracious readers. On as many topics and articles and papers and books [and as much non-Finance if not more so] as they can.

[/ QUOTE ]

Are you being serious?

Re: LOL_Niederhofferaments
 

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[ QUOTE ]

there is no way i am going to read that entire article though. i read the first 5 paragphs and the last 5 and got the idea.


[/ QUOTE ]

It will be very hard for you to make it in this business with that attitude.

The smartest and best-performing managers I know are voracious readers. On as many topics and articles and papers and books [and as much non-Finance if not more so] as they can.

[/ QUOTE ]

well thats fairly insulting given the amount i've stated i read all the time but whatever...i mean u think that's my attitude on everything to read?

i spend between 3-6 hrs a day reading most everything i can get myhands on.

i'm just not so interested in reading a very long new yorker article on victor.

Barron

Re: LOL_Niederhofferaments
 

Fairly sure your being leveled Barron.

I cant believe Victor blew out again, as brilliant as the guy is he seems to have poor judgement with regards to liqiudity and risk management.

Re: LOL_Niederhofferaments
 

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Fairly sure your being leveled Barron.

I cant believe Victor blew out again, as brilliant as the guy is he seems to have poor judgement with regards to liqiudity and risk management.

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eh, i always fall for levels though i didn't htink NoD's was one. i suck at teh interwebz [img]/images/graemlins/frown.gif[/img] if he did level me.

but yea...i mean i read his book and a lot of it was about so many lessons he learned about managing a fund and what does he do? make basically the same mistakes.

craziness.

Barron

Re: LOL_Niederhofferaments
 

[ QUOTE ]
He's such a smart, interesting guy, but he hasn't just blown up twice, he comes close to blowing up every few years. I think it was 2006 where he lost 30% in a month.

It's stuff like this why I've never been enamored of trading. Anytime you introduce leverage, and operate with very thin edges, volatility can kill you. This guy is one of the most brilliant, greatest traders of all time, and he's constantly trying to avoid total meltdowns.

Value investing allows me to sleep at night. The only leverage I use comes from my home equity, the fact that I still have car loans that I could pay off, etc. Stuff that won't get called if my account declines 35% one day. And I've never been leveraged to even 20% of my portfolio assets. It's slow and boring, but making 20%+ each year will eventually get me to my destination.

[/ QUOTE ]

i have his contact info if you want to give him lessons [img]/images/graemlins/smile.gif[/img]

Barron

Re: LOL_Niederhofferaments
 

ha! I'm sure he knows everything I know about investing. But willingness is a whole other thing.