The education of a speculator

by Victor Niederhoffer

In the world according to Victor Niederhoffer, life is speculation and we are all speculators, except when we lose - then we are gamblers. We speculate on our careers, relationships, games, and investments. Life-changing decisions hang on our ability to read and anticipate turns of events. In The Education of a Speculator, Niederhoffer opens the kaleidoscopic story of his life to show how he came to understand these fundamental forces. Offering a way of thinking rather than a "system," this powerful, remarkable book shows us how to speculate and win much more than we ever thought possible. Niederhoffer shows how, by distilling the lessons of board games, horse racing, and hoodoos, we can achieve the right mental and emotional state before, after, and during a contest. Of course, Niederhoffer's greatest fame (and fortune) is as an extremely successful trader, and here his tips, principles, and methods become most manifest. Niederhoffer establishes the relationship between stampeding ele