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:
“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)
“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)
“So cruel prison how could betide, alas,
As proud Windsor, Where I in lust and joy
With a king’s son my childish years did pass
In greater feast than Priam’s sons of Troy?
Where each sweet place returns a taste full sour;”
—Henry Howard, Earl Of Surrey (1517?–1547)