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Daily Speculations The Web Site of Victor Niederhoffer & Laurel Kenner Dedicated to the scientific method, free markets, deflating ballyhoo, creating value, and laughter; a forum for us to use our meager abilities to make the world of specinvestments a better place. |
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1/25/2005
ASK THE CHAIR!
Yes. Everyone and his brother has been writing to me lately wondering if I have my canes out of the closet. And whether the Expert's resignation from the business changes everything. And whether all the big down afternoons and the terrible reactions to earnings means anything. The answer is: "Yes, I am using my cane. And I anticipate using it for much longer than usual."
I have received more calls from old friends in the last few days than any time since Oct. 19, 1987. Such is always the case when they really wish to know how one should handle a precipitous 10% decline in Nasdaq. I feel the same way towards the market that I did then. And I would point out that Stan Jonas told me the best thing he ever did was to force himself to buy a few S&P futures contracts the day after the crash, and roll it over since. I relate this story to all my friends as that's why they are calling.
