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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T.M. Ryan: Cane Investing

I am reminded of the time in my youth when hiking in the backcountry in Colorado above timberline with my father when a storm brewed up in early afternoon before we reached our destination, a high alpine lake for camping and trout fishing. We took cover in a cave formed between huge boulders in a glacial field when suddenly thunder rumbled for what seemed like to me eternity but in reality was probably a few seconds, shaking the ground in a tremendous shock wave. I turned to him not so much in fear as in awe, and he looked at me and laughed uproariously and it was so contagious we just started laughing hysterically as the thunder continued to explode and roll over us.