Some of Victor Niederhoffer’s financial advice to his 12-year-old son: never get in over your head. Never sell short. Buy and hold is the best strategy. Stocks have gone up 50,000 fold in the last 110 years so it’s a good place to put any savings. Always keep something in reserve. Beware of down Fridays. Be mindful of stopping when you have a good gain rather than what most people do in stopping at a big loss. Remember that you have to get out of an investment as well as get in. That means that you have to take account of the liquidity of your position. Deception Be mindful of ever-changing cycles. Remember deception is everywhere. Things are seldom what they seem. The spider and plants have a million ways of hiding the true or emphasising the false. Humans have all these deceptions plus what they have learned from nature, war and politics. Take account of the potential worst-case scenarios and put what you’ll do in writing. Boldness always trumps brilliance. Just make sure you can ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.