That's all true. But it's the logic behind the eccentricities that is the real story. The Education of a Speculator is a sojourn inside the one-of-a-kind mind of Victor Niederhoffer, a trader in commodities and a keen observer of life. He has trained himself to look at the world in a singular fashion: where the guy on the street sees opportunity, Niederhoffer has scoped out all the downsides and done the contrarian thinking necessary to turn a profit. Niederhoffer draws material from disciplines as varied as biology, music, cards, and sports. His book, written with humor and verve, offers readers a chance to see the world through his lenses. The result is a genuinely new perspective on life (unless you too happened to grow up a speculator). This is a terrific, rewarding book.
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However there is a lot of good material and if you like ideas you will enjoy the way he ties many different fields back to trading. Some of the ideas are baloney but many are not. I found it useful because it does give a lot of insight into how a top trader thinks.
From reading the book it was quite obvious he would blow up at some stage, which he has in fact done.
The chapter on the ecology of markets is worth the price alone. Also the one on the interconnectness of markets, and on deception and gamesmanship.
However this should definitely not be your only book on trading. There is hardly any useful material on risk management.
Worth a read IMO but a lot of people will not like it i.e. those looking for a cookbook approach to easy wealth.
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