Daily Speculations
The Web Site of Victor Niederhoffer and Laurel Kenner
Dedicated to the scientific method, free markets,ballyhoo deflation,
value creation and laughter.


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True Stories by Steve Keely
Hobo Memoirs


This account incorporates three sources in clarifying the “Indicators”: Victor Niederhoffer’s autobiography Education of a Speculator, and Bo Keeley’s two reports, Rail Indicators and The Hobo Network.

Throughout the late 80’s and early 90’s I kept one foot on each side of the railroad tracks, drawing from the world of hobos to abet business and from the latter I applied principals to survive on the rails. Victor Niederhoffer believed in me, and often requested “RR Indicators”, which originally stood for railroad, but evolved to include rest & relaxation, and more. Our theory was, and is, to glean indicators from outside finance to give an investment edge.

The tide of business is high or low, always moving. Currents affect the whole from within. Everywhere, fish flick their fins and flip their tails. Can the tide be predicted by observing enough fish? That’s what this history is about.

I rummaged indicators from the rails and globe, and Niederhoffer with staff and computers gauged their efficacies and “lead times” in predicting market movements. My input was private written reports and Jacuzzi chats until, in ‘96, Niederhoffer offered some main indicators in Education of a Speculator, while slyly withholding their lead times.

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