Thursday, June 24, 2010

Getting back up

Quite an interview of hedge fund manager and squash player Victor Niederhoffer by Kathryn Schulz of Slate.
Unfortunately I was so successful for so many years in that particular field that I began to believe in my own success. I thought that because my method worked in markets that I knew about and had quantified, I could apply the same methods to something I didn't know about. 
I think there are causes that led to their disaster and that rather than thinking about the actual minutiae of the downfall, and rather than creating alibis, they should think about the principles that led to their mistakes. And then I think they should let bygones be bygones. Once you've experienced disasters, there's no sense wallowing in misery. You gotta get back in the qualifying tournaments again. 

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