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BTW: regarding Victor, does anyone know how he is doing these days ?
His brother Roy, really had an outstanding year in 2000, relative to other
fund managers.
> -----Original Message-----
> From: Sean O'Toole [mailto:sean@xxxxxxxxxxxxxxxxxxxx]
> Sent: Thursday, February 01, 2001 12:01 PM
> To: Omega List
> Subject: RE: Some Random walk and searching for randon .dll
>
>
> One of the first to seriously challenge the Chicago School of
> Random Walkers
> was none other than Victor Niederhoffer. His anecdotes of his
> years in the
> economics department at the U of C make for good reading. See
> *Education of
> a Speculator*.
>
>
>
>
> > It's really not so surprising. I suspect that the originators of the
> > random walk theory are academics who tried their hand at trading and
> > failed. Naturally if they, with their superior intellect, couldn't
> > succeed, we are all poor deluded fools to think we can do it. So, they
> > constructed an elaborate scientific justification for their own
> > inadequacy and regained their ivory-tower sense of superiority. Only
> > now, when other academics are successfully poking holes in the random
> > walk theory, are they finally starting to accept what traders have known
> > all along.
> >
> > --
> > Dennis
> >
> >
>
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