Aug

23

Appreciating The Chair

August 23, 2026 |

Obituary: Victor Niederhoffer - December 10, 1943 – August 4, 2026

Alex Castaldo:

I think I was lucky to know Vic for so many years. He was very generous to me and although he liked to do things unconventionally sometimes, it was because he sincerely felt everyone should do things their own way and never just to be eccentric or shock people. He always had interesting points of view on many issues not just work related.

Pamela Van Giessen:

It was my great honor and privilege to publish Education of a Speculator. In fact, working on the book with Victor was the highlight of my career. I knew in my heart that whether the book sold 1 copy or 100,000 copies or more, it was an important work. Throughout the process Victor drove me crazy, but mostly in a good way. He was always challenging the status quo, often spot on. He was one of the most generous people I have ever encountered, and I will carry to my grave all the lessons he taught me, along with the many interesting people he introduced me to including Marty Reisman who negotiated the publishing contract with me/Wiley on Victor’s behalf (and wasn’t that just a trip!) and, of course, Bo, among so many others.

The most beautiful person Victor introduced me to was his amazing wife, Susan. If we were fortunate to know Victor, Victor was beyond fortunate to have Susan in his life. May the hole in your heart, and the hearts of your children, be filled with Victor’s love for you and the love of all those around you.

Vince Fulco:

Terribly, terribly sad to hear this news. Working for him was among the best years of my life. I would have carried his ammo can in any trench, in any war.

May his memory be a blessing. Warmest condolences to all who knew him.

Jared Albert:

I sent this to Vic in June and it seems like I should just share it as my commemoration of the man of extraordinarily outsized importance in my life. My deepest condolences to Susan and all of their children.

Dear Vic,
I was sorry to read that you weren’t feeling that well these days, and I wanted to thank you again, while there’s time in this world, for taking a shot on me 20 years ago. Although it didn’t work out like I hoped, it gave me a kind of seal of approval at a pretty low point in my early 30’s and I’ve always appreciated that you did that.

You've remained a central positive figure in my life and I wish you all the best for a full recovery.

James Sogi:

Condolences to his extended family and past business associates and partners . Vic was truly one of the all time greats of the financial world who helped many and changed the markets. He changed my life and my family through his help. I am very sad to hear of his passing. I will always treasure my association and times with him as one of the highlights of my life.

Tyler Cowen:

In addition to his well-known public roles, he worked very hard to help and befriend me when I was younger. Here are the Google searches for Victor. Less well known about Victor is that he had one of the world’s best collections of private letters. He also once gave me a very nice small painting by Jack Savitzky, for which I remain grateful.

Michael Brush:

Vic did a lot of things, but one thing he did for all of us was to generously introduce us to new worlds, new worlds of ideas, and new people.

Vic was really great man. Meeting him was one of those “before and after” moments in my life, back when he started writing for MSN Money when I wrote there.

I remember our last conversation while leaving one of his parties.
Me: Vic you were such a big influence in my life.
His answer surprised me and to this day I am not sure I know what it really meant: “I hope in a good way.”

I will really miss you Vic. Thanks again for everything.

Steve Ellison:

I posted a photo on X (then Twitter) when the Chair played handball against the Senator at the 2015 Spec Party.

William Weaver:

Victor gave a number of us these canes years ago. At least for me it was a reminder anyone can achieve their goals, and it won’t always be an easy path. I took mine down to Wall Street this morning. Thank you, Vic. Will

It is good to take out the canes and hobble down to Wall Street at the close of days when there is a panic. - Victor Niederhoffer

Laurel Kenner:

I found the last cane maker in Manhattan and purchased a number of the most striking ones to send as prizes.

Asindu Drileba:

Until this day, since a few years since I read The Education of a Speculator, I have not found another book remotely close to it. In the finance industry, market analogies are mostly limited to maths & physics. This is why when I read The Education of a Speculator, my mind was genuinely blown by how The Chair would create market references to genetics, music sheets, Dutch philopher Johan Huizinga (Homo Lundens is worshipped in the game design community), checkers and more.

This type of thinking in analogies is what E. O Wilson referred to as "Consilience." So because of this, I would regard The Chair as "The Master of Consilience".

I wrote a short tribute to Vic.

Kiran Kaur:

I was a student of Vic’s. In 2025 he gave me a full weekend at his home, him and Susan both. He walked me through his own book. When I left he put Elmer Kelton’s The Time It Never Rained in my hands and told me The Trees in My Forest by Bernd Heinrich was the other one to read.

I have wondered since whether the pairing was deliberate. A rancher who will not take the drought subsidy and stays on the land, and a biologist counting what is actually happening in three hundred acres of Maine woods. Endurance and counting. He handed it over without a lecture, which I think was the point.

Condolences to Susan, to Aubrey, and to the whole community. Rest in Peace Legend!

Sam Johnson:

A veteran trader pointed me to Vic back in 2011 via speculations website. Encouraged me to think differently about markets and led to a career. Question and test orthodoxy. I wish i could have attended one of his get togethers. He never met me or knew it but he was the second most important person to my trading success.

Yelena Sennett:

Victor certainly did like his hats…

It was a privilege to do podcasts with him. You never knew what fascinating analogy he would come up with to explain the markets. He was always generous with sharing his knowledge, but I believe his greatest gift was an instinct for reading the markets that simply couldn't be quantified.

One of his favorite sayings was, "Never short the market." He certainly lived an extraordinary life, with its share of highs and lows—much like the markets themselves.

Today (August 4th), as the S&P 500 reached another all-time high, it felt like a fitting tribute to his memory.

Richard Barsom:

RIP Victor. Great guy, literally saved my life. Rest in peace Chair.

John Netto:

I remember meeting him for the first time back in the summer of 2011. He graciously invited several from the spec list over to his UWS home. The whole experience fascinated me and his affable personality and welcoming disposition quickly removed any anxiety I had about being in front of a true legend. Thank you to John Floyd for introducing me to the Chair and the list.

Paolo Pezzutti:

I will miss Victor very much. To me, he was a mentor. I received far more from him than I ever gave, and that was part of his greatness. I have applied many of his teachings in both my life and my work.

A brilliant, original and courageous man has left us—courageous even beyond any reasonable limit. He was eclectic, competitive and a great contrarian by nature, but also generous beyond measure. He was a bold, direct and aggressive speculator.

As Nelson used to say: “Go right at them”, Victor always urged me to apply his battle-tested principles to my own trading style.

Newton Linchen:

Victor Niederhoffer was a major inspiration for my development as a market practitioner and had huge impact in the way I view markets and the World.

We are all at a great loss. My respects and sentiment to the family and friends.

Thank you, Chair!

Eric Lindell:

I'm saddened to hear of Victor's passing. I had gotten to know him over the years attending his junto meetings. He was a great guy, and it's a big loss to the investment community and all those whose lives he touched. My deepest sympathies to his family.

Jordan Low:

Victor’s passing is a loss to many. He was so generous with his time and wisdom, and he was a friend to my whole family: he taught my daughter Annabelle tennis, squash, and checkers, and he came to the gala to support my wife Annie when she was honored among the Outstanding 50 Asian Americans in Business. He also taught me the triangle defense in checkers, and drew the line straight to portfolio management: balance risk, reward, and liquidity, and hold the formation at all times. I trade that way to this day. My deepest sympathies to his family.

Rest in peace, Chair. We will remember you fondly.

George Coyle:

Ode to Victor Niederhoffer

Comments

1 Comment so far

ANDRE WALLIN on August 24, 2026 9:10 am
I am grateful for finding Victor’s guidance via daily speculations during my regrettable foray into day trading and “price action”. Even though I only briefly met him once I believe he has been one of the most influential people in my life. Via daily speculations I learned of things I never would have anywhere else. I learned to appreciate reading and collect books on wide and varied subjects. I took up programming so I could actually count and test the way Victor approached the markets. When I found this blog my life was focused on markets and I was deeply unhappy. Now 15 years later my life is full of everything but markets and couldn’t be happier. Thank you so much Victor! RIP

Recent Posts

List of Authors

Aug

23