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Back to the Futures, from Steve Wisdom
Every issue of Futures magazine has snippets from past issues. Among the "flashbacks" in the current, May '05 issue, these bits from Sep '83..
"'Has the wild ride in stocks really begun?' outlined how the Ell##tt W#ve principle suggested the Dow could go above 3,000 in the next few years followed by the worst financial collapse in U.S. history."
"In '####### ######: Turning a summer job into a legend', we interviewed the world's biggest futures trader at the time, who said all his profits came from 5% of his trades. ###### went from runner to floor trader to money manager and became one of the time's most successful futures traders worth near $100 million at the age of 34."
Well, the 'worst financial collapse' never came, and the 'world's biggest' soon became famous for his failed public fund and his 'persona', rather than his $100 million fortune. And I foresee this month's cover in a "flashback" 20 years hence.
Steve Wisdom, a Pennsylvania-born Harvard graduate, has been Victor Niederhoffer's chief for more than 15 years. He also has been associated with Trout Trading, Societé Generale and Deephaven Fund.