Returns
Niederhoffer Investments returned 35% a year from inception through 1996, when MAR ranked it the No. 1 hedge fund manager in the world. In 1997, Victor published a New York Times bestselling book, The Education of a Speculator.
In statistical terms, I figure I have traded about 2 million contracts, with an average profit of $70 per contract (after slippage of perhaps $20). This average is approximately 700 standard deviations away from randomness.Read more about this topic: Victor Niederhoffer
Famous quotes containing the word returns:
“To be worst,
The lowest and most dejected thing of fortune,
Stands still in esperance, lives not in fear.
The lamentable change is from the best;
The worst returns to laughter. Welcome, then,
Thou unsubstantial air that I embrace!
The wretch that thou hast blown unto the worst
Owes nothing to thy blasts.”
—William Shakespeare (1564–1616)
“If Thought is capable of being classed with Electricity, or Will with chemical affinity, as a mode of motion, it seems necessary to fall at once under the second law of thermodynamics as one of the energies which most easily degrades itself, and, if not carefully guarded, returns bodily to the cheaper form called Heat. Of all possible theories, this is likely to prove the most fatal to Professors of History.”
—Henry Brooks Adams (1838–1918)
“Only passions, and great passions, can raise the soul to great things. Without them there is no sublimity, either in morals or in creativity. Art returns to infancy, and virtue becomes small- minded.”
—Denis Diderot (1713–1784)