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<channel>
	<title>Daily Speculations</title>
	<link>https://dailyspeculations.com/wordpress</link>
	<description>THE WEB SITE OF VICTOR NIEDERHOFFER: DEDICATED TO VALUE CREATION, BALLYHOO DEFLATION AND APPLYING THE SCIENTIFIC METHOD IN FINANCE</description>
	<pubDate>Fri, 14 Aug 2026 21:41:44 +0000</pubDate>
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		<title>RIP Vic Niederhoffer, by Peter C. Earle</title>
		<link>https://dailyspeculations.com/wordpress/?p=14732</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14732#comments</comments>
		<pubDate>Fri, 14 Aug 2026 21:41:44 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Peter Earle</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14732</guid>
		<description><![CDATA[RIP Vic Niederhoffer
There are those who teach skills, methods, subjects, or even entire professions. And there are people who permanently change the way one thinks. Victor Niederhoffer was, for me, emphatically the latter.
I landed on a trading desk in the mid-1990s with no background in finance or business and a single economics course (which, ironically, [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14732</wfw:commentRSS>
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		<title>Celebration of life, from Duncan Coker</title>
		<link>https://dailyspeculations.com/wordpress/?p=14731</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14731#comments</comments>
		<pubDate>Thu, 13 Aug 2026 21:09:04 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Steve Wisdom</category>
	<category>Duncan Coker</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14731</guid>
		<description><![CDATA[Hey friends.  This has been a hard week and difficult to fully accept.  So many things to write about Victor, but I&#39;ll pick just one small part to bring some levity and that is his sense of humor. Vic had a wicked sense of humor.  It comes across particularly is his coded [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14731</wfw:commentRSS>
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		<item>
		<title>Twenty-Seven Years with Victor Niederhoffer, from Laurel Kenner</title>
		<link>https://dailyspeculations.com/wordpress/?p=14730</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14730#comments</comments>
		<pubDate>Wed, 12 Aug 2026 17:07:33 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Laurel Kenner</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14730</guid>
		<description><![CDATA[Twenty-Seven Years with Victor Niederhoffer
When Vic died Aug. 4, 2026, I was halfway through &#8220;The Walking Drum,&#8221; a Louis l&#8217;Amour book set in the Middle Ages. It&#8217;s about a man who repeatedly started from zero, a pioneering trader, a scholar and explorer with vast intellectual curiosity, witty in conversation, a man of respect and great [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14730</wfw:commentRSS>
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		<item>
		<title>A Polytropic Hero, from Alex Castaldo</title>
		<link>https://dailyspeculations.com/wordpress/?p=14729</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14729#comments</comments>
		<pubDate>Tue, 11 Aug 2026 12:36:12 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Alex Castaldo</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14729</guid>
		<description><![CDATA[
Roy N.&#39;s eulogy focused on the ways in which Vic&#39;s life could be said to be polytropic. I did not take very detailed notes, but as best I recall he said that polytropos (&#960;&#959;&#955;ύ&#964;&#961;&#959;&#960;&#959;&#962;) is a Greek adjective used as an epithet for Ulysses in the introduction to The Odyssey. It is a combination of [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14729</wfw:commentRSS>
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		<item>
		<title>Victor Niederhoffer, 1943-2026, 1964 Intercollegiate Individual Champion</title>
		<link>https://dailyspeculations.com/wordpress/?p=14728</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14728#comments</comments>
		<pubDate>Fri, 07 Aug 2026 22:41:13 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Other Contributors</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14728</guid>
		<description><![CDATA[Victor Niederhoffer, 1943-2026, 1964 Intercollegiate Individual Champion, by Rob Dinerman
Niederhoffer is the only player, man or woman, to ever capture the Individuals without ever having played or even seen squash prior to entering college. He had, however, as a youngster growing up in Brooklyn excelled at tennis and in a number of the many &#8220;wall [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14728</wfw:commentRSS>
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		<item>
		<title>&#8220;We lost a giant of modern finance&#8221; - Andrew Lo</title>
		<link>https://dailyspeculations.com/wordpress/?p=14727</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14727#comments</comments>
		<pubDate>Wed, 05 Aug 2026 15:20:11 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Andrew Lo</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14727</guid>
		<description><![CDATA[From Andrew Lo:
We lost a giant of modern finance today. I feel fortunate to have known @VicNiederhoffer, to have learned from him, and to have been inspired by his example. A finance scholar, trader, world-champion squash player, and endlessly curious intellectual, he was as generous and kind as he was brilliant. He will be deeply [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14727</wfw:commentRSS>
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		<item>
		<title>&#8220;The preeminent amateur player ever to play the game in the US&#8221;</title>
		<link>https://dailyspeculations.com/wordpress/?p=14726</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14726#comments</comments>
		<pubDate>Tue, 04 Aug 2026 21:14:12 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Victor Niederhoffer</category>
	<category>Other Contributors</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14726</guid>
		<description><![CDATA[The Best Player ever to play Capitalist Squash
No player who plays squash in the US should go without knowing the name of Victor Niederfoffer who was, in my opinion, the preeminent amateur player ever to play the game in the US.
In fact, let me say that it was Victor Niederhoffer who inspired me to pursue [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14726</wfw:commentRSS>
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		<item>
		<title>UBS Global Investment Returns Yearbook 2026</title>
		<link>https://dailyspeculations.com/wordpress/?p=14725</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14725#comments</comments>
		<pubDate>Mon, 03 Aug 2026 21:20:09 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Other Contributors</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14725</guid>
		<description><![CDATA[Global Investment Returns Yearbook 2026
The Global Investment Returns Yearbook, a body of work assembled by Professor Paul Marsh and Dr. Mike Staunton of London Business School, together with Professor Elroy Dimson of Cambridge University, provides an invaluable foundation for understanding the long-term evolution of global financial markets. UBS is proud to continue supporting this authoritative [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14725</wfw:commentRSS>
		</item>
		<item>
		<title>Greedyness, from Nils Poertner</title>
		<link>https://dailyspeculations.com/wordpress/?p=14724</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14724#comments</comments>
		<pubDate>Thu, 30 Jul 2026 19:58:11 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Jeffrey Hirsch</category>
	<category>Zubin Al Genubi</category>
	<category>Nils Poertner</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14724</guid>
		<description><![CDATA[
Asked a trader friend what he thought would make a good trader and he said, &#34;Greedyness.&#34; Was a bit surprised,  but on second thought  I concur. By being aware of it, it does take out the toxicity a bit as well.
Jeffrey Hirsch writes:
John Bollinger once said, &#8220;Greed is simply fear of not having [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14724</wfw:commentRSS>
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		<item>
		<title>Default - What Default? USDINR, from Stefan Jovanovich</title>
		<link>https://dailyspeculations.com/wordpress/?p=14723</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14723#comments</comments>
		<pubDate>Tue, 28 Jul 2026 19:07:59 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Stefan Jovanovich</category>
	<category>Steve Ellison</category>
	<category>Bud Conrad</category>
	<category>Zubin Al Genubi</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14723</guid>
		<description><![CDATA[Indian Rupees to the US Dollar:

Steve Ellison writes:
Earlier this week I was recounting my tale of being in Turkey in 2003 when the currency notes in circulation were 1 million lira notes and 10 million lira notes. 1 million lira bought a cup of coffee; 10 million lira could buy a book. Both notes had [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14723</wfw:commentRSS>
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		<item>
		<title>World Cup Soccer, from Zubin Al Genubi</title>
		<link>https://dailyspeculations.com/wordpress/?p=14722</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14722#comments</comments>
		<pubDate>Mon, 27 Jul 2026 20:09:46 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Zubin Al Genubi</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14722</guid>
		<description><![CDATA[
Had some stars: Messi, the 19 year old Spanish kid, who had amazing skills of deception using multiple varied fakes, head fakes, fake kicks, fake direction changes leaving defenders falling flat on the ground. Even when defenders grabbed, tripped, pushed them they extricated tai chi style and slipped through. Fun to watch.
The market used to [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14722</wfw:commentRSS>
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		<item>
		<title>The latest from Dr. Earle</title>
		<link>https://dailyspeculations.com/wordpress/?p=14721</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14721#comments</comments>
		<pubDate>Tue, 21 Jul 2026 18:41:34 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Peter Earle</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14721</guid>
		<description><![CDATA[Welcome to Trillionistan. Don&#8217;t Get Comfortable.
Not all trillions &#8212; debts, valuations, investments &#8212; are created equal. Huge nominal numbers often obscure the institutions and incentives that produced them.
Peter C. Earle
Not long ago, the notion of trillions belonged either to the furthest cosmic reaches of the universe or the submicroscopic world of atoms. These numbers describe [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14721</wfw:commentRSS>
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		<item>
		<title>Robert Parker&#8217;s 100-point wine rating system, from Nils Poertner</title>
		<link>https://dailyspeculations.com/wordpress/?p=14720</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14720#comments</comments>
		<pubDate>Sat, 18 Jul 2026 21:47:17 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Larry Williams</category>
	<category>Big Al</category>
	<category>Zubin Al Genubi</category>
	<category>Nils Poertner</category>
	<category>Asindu Drileba</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14720</guid>
		<description><![CDATA[
example of something in our Western culture when we &#34;over-use&#34;, overly rely on numbers to give meaning to something. Clever marketing idea though.  A bit like those French Phds at BNP who looked at their credit derivs spreadsheets in summer 2007 and couldn&#39;t see what is behind those numbers as reality is more complex. [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14720</wfw:commentRSS>
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		<item>
		<title>Turing test, from Zubin Al Genubi</title>
		<link>https://dailyspeculations.com/wordpress/?p=14719</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14719#comments</comments>
		<pubDate>Mon, 13 Jul 2026 14:55:58 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Zubin Al Genubi</category>
	<category>Peter Ringel</category>
	<category>Nils Poertner</category>
	<category>Oliver Joseph</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14719</guid>
		<description><![CDATA[
The Turing Test, originally introduced by British mathematician and computer scientist Alan Turing in his 1950 paper &#34;Computing Machinery and Intelligence,&#34; is a proposal for evaluating whether a machine can exhibit intelligent behavior indistinguishable from that of a human.
This is more relevant today than ever. Applied to the market some moves appear very machine like. [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14719</wfw:commentRSS>
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		<title>They are history’s geniuses. But were they any good at investing?, from Asindu Drileba</title>
		<link>https://dailyspeculations.com/wordpress/?p=14718</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14718#comments</comments>
		<pubDate>Wed, 08 Jul 2026 05:10:27 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Asindu Drileba</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14718</guid>
		<description><![CDATA[Brilliant podcast from Financial Times. Analyses the investment styles of Charles Dawrin, Isaac Newton, Winston Churchill (blew up his GBP 80 million account), the painter J. M. W. Turner doing fixed income arbitrage, J. M Keynes out performing Warren Buffet.
They are history&#8217;s geniuses. But were they any good at investing? &#124; The Story of Money [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14718</wfw:commentRSS>
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		<title>The American Revolution Redefined Freedom Itself, by Peter C. Earle</title>
		<link>https://dailyspeculations.com/wordpress/?p=14717</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14717#comments</comments>
		<pubDate>Sat, 04 Jul 2026 23:52:28 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Peter Earle</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14717</guid>
		<description><![CDATA[The American Revolution Redefined Freedom Itself
When the Continental Congress approved the Declaration of Independence on July 4, 1776, its immediate purpose was practical: to justify severing ties with Great Britain and explain to audiences both foreign and domestic why rebellion had become necessary. Yet the document&#8217;s historical importance extended far beyond the thirteen colonies. The [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14717</wfw:commentRSS>
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		<title>Holiday Ideas for Americans, from U. S. Humbert</title>
		<link>https://dailyspeculations.com/wordpress/?p=14716</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14716#comments</comments>
		<pubDate>Sat, 04 Jul 2026 05:30:57 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Other Contributors</category>
	<category>Stefan Jovanovich</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14716</guid>
		<description><![CDATA[A new Cato Institute/Morning Consult survey finds that 46 percent of Americans don&#39;t know what Saturday commemorates.
Idea 1: Lead a family event where the Declaration of Independence is read in its entirety.
For the fuller, messier version of the origin story, see &#34;The &#39;Two Ships&#39; Theory of American History&#34; in the August Atlantic &#8212; James Traub&#39;s [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14716</wfw:commentRSS>
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		<item>
		<title>The Cost of Chasing Zero, from V. Humbert</title>
		<link>https://dailyspeculations.com/wordpress/?p=14715</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14715#comments</comments>
		<pubDate>Fri, 03 Jul 2026 05:17:38 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Other Contributors</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14715</guid>
		<description><![CDATA[The Trump administration is revising the radiation rules for commercial nuclear power. Headlines suggest a safety rollback. The reality is closer to retiring a rule that outlived its purpose. The savings may prove modest; the principle at stake is whether regulation should require spending to address risks too small to measure.
The rule is ALARA &#8212; [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14715</wfw:commentRSS>
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		<title>Best Patrick O&#8217;Brian entry point?, Asindu Drileba</title>
		<link>https://dailyspeculations.com/wordpress/?p=14714</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14714#comments</comments>
		<pubDate>Thu, 02 Jul 2026 05:21:42 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Paolo Pezzutti</category>
	<category>Big Al</category>
	<category>Asindu Drileba</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14714</guid>
		<description><![CDATA[
I need your advice. What is the best entry point for his work?
Paolo Pezzutti responds:
No doubt. Master and Commander.
Big Al adds:
Yes, it&#39;s a series, and the first volume is Master &#38; Commander.
A fascinating biography of a man who was some of the inspiration for O&#39;Brian&#39;s writing:
Cochrane: Britannia&#39;s Sea Wolf
]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14714</wfw:commentRSS>
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		<item>
		<title>Money and the Meaning of Life, from Humbert P.</title>
		<link>https://dailyspeculations.com/wordpress/?p=14713</link>
		<comments>https://dailyspeculations.com/wordpress/?p=14713#comments</comments>
		<pubDate>Tue, 30 Jun 2026 21:23:48 +0000</pubDate>
		<dc:creator>armidal7</dc:creator>
		
	<category>Other Contributors</category>
		<guid isPermaLink="false">https://dailyspeculations.com/wordpress/?p=14713</guid>
		<description><![CDATA[Money and the Meaning of Life, by Jacob Needleman
Needleman shows how money slowly began to haunt us, from the invention of coins in Biblical times (when money was created to rescue the community good, not for self gain), through its hypnotic appeal in our money-obsessed era. This is a remarkable book that combines myth and [...]]]></description>
		<wfw:commentRSS>https://dailyspeculations.com/wordpress/?feed=rss2&amp;p=14713</wfw:commentRSS>
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