I've been busy with other projects and life this last month. Boy I missed blogging. I'm really looking forward to continuing the blog and revisiting some of the previous posts.
I was the first trading blog to talk about Victor Niederhoffer's demise. Many lambasted me for "rumor mongering". The "rumors" turned to be true. Vic did in fact blow up. As with most spectacular blow ups on Wall Street, he will continue to trade but on a much smaller scale. Who knows? He might even make a comeback and go for a three-peat.
I'll follow up on MitoPharm's spectacular swan dive off a cliff. I did my best to warn people but as Lord Overstone said, "No warning can save a people determined to grow suddenly rich."
As well Agloco deserves some more thrashing since they have come out with a hilarious payment schedule. And of course, I'll also write more market related commentary where more than a few plates of crow are on the menu.
But I did mention, and I hope you listened, to "Sell Something!" when the S&P 500 was around 1520. Since then the indices moved slightly higher (1560) but for the most part chopped and are now lower (1460).
Calling the intermediate market top as well as repeated calls for a bottom in mid August and early September, are rare feats. I doubt I can keep this up. But it will be fun to try.
As you might have noticed, I removed Google Adsense and will be monetizing using more unobtrusive methods. I've also tidied up the place a bit and will probably spruce up the theme and upgrade to the newest Wordpress version in a short while. So bear with me if things get a bit wonky.
There is a rumor that the (in)famous trader, Vic Niederhoffer, has blown up... again.
For those that aren't familiar with Niederhoffer nor his history, click here to read his wikipedia entry.
For those keeping track, this monumental blow up makes it 2 for 2. Vic came close last summer when he suffered a debilitating loss of around 30% !
Incredibly Matador (his hedge fund) clawed it's way back from the brink and survived.
But the rumor is that this time it is definitely over.
According to the unsubstantiated rumor, Matador has lost 93% of its funds! Their prime broker apparently forced a liquidation of their positions.
Seems the fund was short 15,000 1000 strike August '08 puts.
The same source is claiming that the Wall Street Journal will be coming out with an article about this. So keep an eye out for it.blow up, hedge fund, matador, Niederhoffer, wall street journal