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Correction, Niederhoffer is Oct. 1997. and now Meriwhether Oct. 1998.
> Historically speaking, when a big fund liquidates its positions, everyone
> else is standing
> on the side ways waiting for the unwinding of postions to hit bottom,
> then a rally will start.
>
> Look at Soros liquidation on Oct.,1987, Niederhoffer on Oct. 1987, Nick
> Leeson
> 2nd quarter Nikkei liquidation (am not sure 1995 I think), then now we
> wait for the Meriwether liquidation before the great bounced back.
>
> Gerrit Jacobsen wrote:
>
> > It seems that the term "hedge-fund" is now totally disgraced. For
> > managers like Meriwether these hedge-funds were a one-way bet:
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