Oct
28
A Modern Financial Story, from Victor Niederhoffer
October 28, 2012 |
I sat next to a famous 97 year old singer yesterday at a Halloween party. She had sung with Danny Kaye, Red Skelton, Frank Loesser, Lucille Ball, Frank Sinatra and many others in her illustrious career. At the age of 30 she married a gynecologist and had 60 years of a beautiful happy marriage. A year before he died he was encouraged by friends at the club to invest with a dynamic investor who was guaranteed to take their money and give them a 10 fold return within 2 years. He was a famous new jersey ponzoist a la Madoff and she lost her entire wealth of 500,000 with him. Her husband went to the dentist to have a tooth pulled and woke up with a tooth ache that night. She took him to a hospital where he was told to take or get off Cumodin. The doctor kindly told her to go home for the night and an hour later they called her to tell her the beloved husband was dead. She lives in a rent controlled apartment and can't afford the rent after 50 years. It's worth 2 million but she can't get the landlord to buy her out of her lease. She said she'll marry someone much younger unless he does, but the prospective husband wants to put her away into assisted living so it doesn't work. She had a beautiful voice, was completely upbeat, and quite a bit more up to date and mobile than I. "I remember everything" she said and she did. I touched her for good luck as I do all centenarians.
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This life has much to offer, and as much to take away.
Luck…hmm,,,I have nothing but an eye blink for such…a whim.
http://www.cross-currents.net/charts.htm
HFT…the average holding period chart here is the most relevant of the changing times we are in, and as to what has taken place.
Victor and Laurel,
I forwarded to you an urgent political email that I had sent and discussed with Gary Sinawski, the Counsel for the Libertarian National Committee. The email is from occupytheparties@gmail.com and the subject on the email is: One time thing before the 2012 Election.
Please review it with haste at your earliest convenience. It is time sensitive concerning the next election and PR for the Libertarian Party.
It is easy to lose everything when fighting for the rights of others and not knowing when to quit. I’m too afraid to not do anything. That is how I always get into mischief and remain penniless.
The closing of electronic exchanges after NYSE was closing is evidence of the powers that be want the illusion of the floor to continue. Was the market closed during Katrina?
http://www.mississauga.com/sports/article/1526398–book-features-horse-racing-hijinks
Thought you may like this one. Not affiliated with the author, haven’t read it.
I thought this is an apolitical website.
Hurricane Katrina did not hit Wall Street.
Steve, read Dark Pools and you will see that the floor and “Wall Street” is no longer needed. At first they announced that the NYSE floor would close and trading would continue on ARCA. However, they don’t want the public to see that their stocks trade in the hands of algos as they actually do anyways. The illusion of the NYSE floor on CNBC has the American baby boomer public “in its grip” as Niederhoffer likes to say!