The Education of a Speculator, Lesson II.
Victor Niederhoffer proudly announced that he bought NDX future and trust shares on Monday. Guess what happened since his article's publication?
>>>For the record, we think the Nasdaq is due for a rally, and got long Nasdaq 100 futures and Nasdaq 100 trust shares (QQQ: Amex) yesterday afternoon. <<<
worldlyinvestor.com
Is there a history lesson here?
In October 1997, the author of the best selling book "The Education of a Speculator" was unable to foresee A possibility of a crash of US equity market. As the US (& global) equity markets was going down, he shorted $SPX puts just before the crash. In doing so, he wiped out $200m of other people's money. Every single penny in the $200m fund went to money heavens.
Despite all his education, he was unable to think through
the ramifications of Baht devaluation, Hong Kong meltdown (from hedge fund manipulation), the boomeranging effects around the world, as well as signs of impending collapse in the US equity market.
Maybe he should sport electric music ecology speculation instead of "scientific" speculation.
>>>His hobbies include music, electricity, sports and ecology, all of which form a foundation for his scientific speculation. |
