Mar

29

Surfing the web today, I landed on Turtle Trader and noticed:

  1. The significant angst with which the author has latched onto the long-since-lost-its-value device of obtaining cheap popularity by attacking Dr. Niederhoffer's 1997 glitch.
  2. No mention of Steve Cohen. Noticeable because the author has compiled a pull-down menu of Top Traders, classifying them as Hall of Fame, Market Wizards, Turtle Traders & Trend Followers, and has SAC nowhere in that list. The author hasn't found a reason to classify this success anywhere?

Larry Williams replies:

Sushil has scratched a very dark surface here. Long story to this website; mostly negative, vile stuff about people that is not correct, and sets themselves out as the savior. Orignated by a guy who does not trade (so a real Turtle told me — who knows?) but the bitterness expressed towards others is the clue to the soul of these people.

I had a tiff with these guys a few years ago when they were putting me down. Where is their track record? Where is their heart? This is not how good thinking people treat others. There are many ways to make a good cup of market soup.. some like it hot, some like it cold, some like it in the pot, nine days old.

The site lists among its heroes a multi-year loser of clients' funds, and a mystic who (as I understand it) has not traded for years, just holds navel-gazing seminars sprinkled with platitudes. If I am wrong on this… I would sincerely like to know.
 


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2 Comments so far

  1. Caravaggio on March 29, 2007 9:02 am

    Turtletrader is good for the occasional link to something interesting, but apart from that single feature, it is the most negative, condescending and pretentious web-site I have come across in recent years.

  2. Dean Parisian on March 29, 2007 2:46 pm

    Years ago when I was a salesman on the West Coast at a little shop called Drexel Burnham Lambert, Richard Dennis was the GP of a commodity fund that we sponsored. I will forever remember Dennis addressing the Drexel sales force telling us the markets had not behaved rationally and caused him to blow out the fund at 50% down. Within days the chaos subsided and had he hung on (or by prospectus he could have) he would have recovered nicely. Markets aren’t rational Richard. I thought he would have learned that much earlier.

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