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)
“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)