Michel Pireu Columnist

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 ...

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