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:
“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)
“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)
“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)