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:
“The insolence of base minds in success is boundless; and would scarce admit of a comparison, did not they themselves furnish us with one in the degrees of their abjection when evil returns upon them.”
—Laurence Sterne (1713–1768)
“Awakening in the morning returns us to life, and to awareness of death.”
—Mason Cooley (b. 1927)
“Pleasure is the rock which most young people split upon; they launch out with crowded sails in quest of it, but without a compass to direct their course, or reason sufficient to steer the vessel; for want of which, pain and shame, instead of pleasure, are the returns of their voyage.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)