The Price of a Single Word
Some stories rise so sharply that their fall seems almost inevitable. This is one of them. Victor Niederhoffer — investor, thinker, and a witness to both the heights and limits of success Victor Niederhoffer, the son of a refugee who had fled Nazi Europe, grew up in the United States with a certain inherited resolve. Loss had already visited the family once, and perhaps that leaves behind a quiet determination to rebuild, to rise, to secure what had once been taken away. He was brilliant with numbers. Markets, which to most appear uncertain and restless, began to reveal patterns to him. He entered the world of finance and rose quickly, with a clarity of thought and confidence that set him apart. Success followed, and then more success. Wealth accumulated, and at one point, he stood among the very few who could be called billionaires. But success has a way of altering the very judgment that created it. Confidence deepens into conviction, and conviction, if left unchecked, begins to hard...