I guess old news, but article: The Blow-Up Artist in NY times..... the story was far too long for me to read it all, but I got this one:"We are like a tiny fishing boat of the coast of Alaska that have been caught in the biggest waves in a hundred years."looks like hundred year waves keep coming every 10 years or so, a discovery done at least by the early 1900 Mills (1927) ”A distribution may depart widely from the Gaussian type because the influence of one or two extreme price change.” Option trader Nelson (1904) : ``...the majority of the great option dealers who have found by experience that it is the givers, and not the takers, of option money who have gained the advantage in the long run."

it must be particularly annoying for Victor as equity markets are now making new highs .... and he is (was) a perma-put selling bull. I am sure he will come back again !

Nice article, you can understand how he trades.. very aggressive and a little bit quant. It's a pity that a man like him don't remember what volatility means.As he told, in US you can have second chance, but not third!!!

Niederhoffer has had more than his fair chances of making a comeback

Niederhoffer knows that selling naked options works great for long enough to get unsavvy people to pay you a lot of money. Until you get a 3,4,5 sigma event. But your payoff in money management is a call option, so you walk away with millions earned over 5 years or so, do it again somewhere else to someone else.

I think the article it's taken from Bloomberg newspaper...a last year issue (you see, all those references to bloomberg screens and news)