Niederhoffer may have played chess, but he studied checkers. I still think it is weird, even if he did practice at the top level of checkerville. If there's such a thing as professional checker player I don't know, but I once dated a professional ping pong player when I lived in Hawaii, so there are many unlikely professionals traveling on their own little circuits out there...
I am going to finish the Education of a Speculator, later, it is fascinating, just didn't seem too relevant to me as a newbie when I started it, although not as over my head as George Soros' book.
Here's a couple of Niederhoffer's "proverbs" (page 159) that seem to explain his downfall:
"The losing genie, once let out of the bottle, can't be put back in that easily, if at all."
"When you need a win, moderation should not be your guide. This is the time when you must do or die!"
(Not my cup of tea---if I listened to him, I'd probably be broke by now) |
