drbubb Posted July 24, 2013 Report Share Posted July 24, 2013 Lessons : Blow-ups and Million Dollar Traders ========= Keeping it real : Let's start with Speculative Blow-ups : Lessons Learned - since most of us learn the most from mistakes. Vic Neiderhoffer looks back - and others who suffered big losses have plenty to teach us http://www.youtube.com/watch?v=860Rd2BD74U A humbled super speculator Victor Niederhoffer interview after losing everything in the 1997 Financial crisis. Includes a picture of Soros telling him - "I told you so". He made a come back in 2002*, but was caught out once more in 2007. 7. I guess not a lucky number for him. Beware in 2017 Mr Niederhoffer! * http://en.wikipedia....or_Niederhoffer ---- I am not sure of what he did in 1987, but there was a big crash then too. Q: How much did you lose? A: A staggering amount... A staggering amount. ... Less than $100 Million, and more than $1 Million Q: When did you know you had lost it ? A: In the morning of October 28th. 7:30 in the morning on October 28th. I can see his evident pain. But part of me wants to say: "Hey, Vic, it is only money !" The man is a tremendous competitor, as his opponents learned on the squash court. He truly HATES to lose, which is why this loss may have hit him so deeply. Personally, I think all people, and especially speculators, learn more from their losses than their gains. It seems he was left with a nice home, full of memorable art, if he had to sell many of his trophies. Link to comment Share on other sites More sharing options...
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