Podcast appearances and mentions of roy niederhoffer

On this episode of “On The Tape,” Guy Adami and Liz Young recap hit the recent move in yields (3:00), what the VIX is telling us about the markets (5:00), the commodities complex (8:00), rate cut expectations/jobs market (10:30), Jamie Dimon's warning to the economy (17:00), Fed speak this week (21:00), earnings season kicking off (23:30) and gold (25:30).  Later, Guy is joined by Kaitlin Malin, COO at iConnections, to interview Roy Niederhoffer, president of R.G. Niederhoffer. They discuss Roy's background as a teenage entrepreneur and how he learned about the markets (31:00), making emotional mistakes in trading/behavioral biases (35:00), how allocators should think about sharp ratios (43:00), R.G. Niederhoffer's investment strategy (49:00), drivers of volatility in the markets (54:30), following trends (1:00:15), how his love of music has helped him with investing (1:04:00) and AI/machine learning (1:07:15). Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money's Guy Adami, Dan Nathan and Danny Moses. They're offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we're here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at OnTheTape@riskreversal.com with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We're on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Buckle up for a fascinating conversation with Roy Niederhoffer, President of R.G. Niederhoffer Capital Management, as he shares insights on managing a billion USD through short-term trading. Discover why he's chosen this approach and how he's overcome its challenges. You'll also gain valuable insights on human biases surrounding the Sharpe Ratio, the impact of an inverted yield curve on longer-term trend following strategies, and why Roy "has PTSD" from investing in the stock market. Dive deep into the drivers of short-term trading and learn why thinking like a trader is key to successful research. Plus, Roy offers a cautionary note on the dangers of machine learning. Don't miss this illuminating conversation!-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder Tool-----ATTENTION TTU TRIBE : SIGN-UP for Rick Rule's Symposium: Once in a life-time natural resource insights from the BEST investors in the world via a first-class livestream or Live event!Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Learn more about R.G. Niederhoffer Capital Management.Episode Timestamps:02:16 - Introduction to R.G. Niederhoff Capital Management03:46 - Their investment philosophy10:00 - A period of challenges13:26 - Believing in change15:45 - Who's Sharpe should we be concerned about?23:02 - Looking back in time30:42 - The role of short-term trading38:56 - What drives short-term...

Kaum ein anderer Hedgefonds-Manager hat seine Strategien so stark auf volatile Kapitalmärkte ausgerichtet wie Roy Niederhoffer, Gründer der gleichnamigen New Yorker Investmentboutique. „Unsere kurzfristigen quantitativen Trading-Systeme haben in Marktkrisen stets sehr gute Performance geliefert, auch aktuell – ich liebe Volatilität“, sagt Niederhoffer im Hedgework-Talk mit Uwe Lill. Sowohl das Flaggschiff, das 1993 gestartete Diversified Program, als auch der in Europa zugelassene KLS Niederhoffer Smart Alpha Fund haben in den vergangenen Jahren hervorragende Renditen geliefert. Grundlage der Trading-Algorithmen sind Lehren aus der Verhaltensökonomie. „Menschen handeln emotional, das können wir ausnutzen“, stellt Niederhoffer fest. Roy Niederhoffer hat 60 menschliche Verhaltensweisen analysiert und in Trading-Algorithmen umgesetzt. Gehandelt wird in über 40 Märkten von Anleihen über Währungen und Rohstoffe bis hin zu Aktien.

We had a very special guest this week – Roy Niederhoffer, founder and president of R. G. Niederhoffer Capital Management, a NY-based quantitative investment firm. With a strong musical background and an original plan to become a neuroscientist, Roy might have led an academic life if it weren't for his programming skills and an offer to join his older brother's hedge fund, one that he couldn't refuse. He joined us for a fascinating conversation, covering topics such as: His early life, a diverse set of interests and becoming a highly-skilled generalist Striking out on his own – why would an institution ever invest with a 26-year old running computers in his living room? Developing short-duration strategies that are uncorrelated to both traditional and alternative investments Long volatility vs short volatility strategies The inescapable dopamine rush of capital markets and the importance of managing emotions Trend-following, convexity, and why the frequency of observations matters so much Behavioral neuroscience applied to markets Leaning into the work of Danny Kahneman and dissecting his magnum opus over dozens of weekly sessions Identifying price patterns that will trigger predictable emotional responses from market participants – therein lies the edge The difference between strategy management and risk management Printing of fiat money and the conditions for an elimination event that can wipe out multi-generational wealth He also summarized his general investment theory, which seeks to identify asset-class characteristics that can be generalized, those that will remain idiosyncratic, and some that might eventually spill over into other markets. Roy is a true polymath, with a unique perspective and a generous disposition to share his knowledge.   Thank you for watching and listening. See you next week.   This is “ReSolve's Riffs” – live on YouTube every Friday afternoon to debate the most relevant investment topics of the day, hosted by Adam Butler, Mike Philbrick and Rodrigo Gordillo of ReSolve Global* and Richard Laterman of ReSolve Asset Management.   *ReSolve Global refers to ReSolve Asset Management SEZC (Cayman) which is registered with the Commodity Futures Trading Commission as a commodity trading advisor and commodity pool operator. This registration is administered through the National Futures Association (“NFA”). Further, ReSolve Global is a registered person with the Cayman Islands Monetary Authority.

Jerry Parker is on the show with us today to discuss why short positions are beneficial to a profitable trading strategy, the importance of not over-tweaking an already good system, the case for Trend Following as the dominant strategy in an investment portfolio, the amount of volatility that can be regarded as too risky, and Jerry calls out Niels for a future debate regarding the possible uses of multi-timeframe analysis. If you would like to leave us a voicemail to play on the show, you can do so here. Check out our Global Macro series here. Learn more about the Trend Barometer here. IT's TRUE

How many families have two brothers who've been in the hedge fund game for 30+ years, much less on polar opposites of the long vol/short vol spectrum. We're talking with the volatility loving, positive skew seeking brother in our episode today, Roy Niederhoffer. Roy is the founder and President of the eponymous R. G. Niederhoffer Capital Management, which has been coding, trading, analyzing, and investing in futures markets since before most of us had a future. We're talking with Roy about 100-screen backdrops, delivering what's best for the whole portfolio, not just the fund manager, crisis performance, predicting risk, short-term is the best “-term”, the start of RGN, jazz music, human bias (all the way to 100s of millions of years ago), superstars vs teamwork, the potentially huge difference between getting interest rate trend right and actually making money doing that, playing the lottery in reverse, bitcoin/crypto performance in crisis, and building business around identifying similarities across asset classes. Chapters: 00:00-02:27= Intro 02:28-17:39=A Musical Dilettante's path to Hedge Funds 17:40-29:19= Having a Short Vol Brother 29:20-49:20= The Flagship Strategy / My Job's to Help the Whole Portfolio 49:21-58:11= Yield Curves, Bond Carry and Trend Following 58:12-01:11:28= Talking Sharpe Ratio's, a Possible Rate Driven Crisis & Markets Moving Forward 01:11:29-01:17:21= Favorites Follow along with Roy and RGN on their website. And last but not least, don't forget to subscribe to The Derivative, and follow us on Twitter, or LinkedIn, and Facebook, and sign-up for our blog digest. Disclaimer: This podcast is provided for informational purposes only and should not be relied upon as legal, business, or tax advice. All opinions expressed by podcast participants are solely their own opinions and do not necessarily reflect the opinions of RCM Alternatives, their affiliates, or companies featured. Due to industry regulations, participants on this podcast are instructed not to make specific trade recommendations, nor reference past or potential profits. And listeners are reminded that managed futures, commodity trading, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors. For more information, visit www.rcmalternatives.com/disclaimer

Roy Niederhoffer has been a quantitative hedge fund manager for over 25 years. In 1993, Roy founded R. G. Niederhoffer Capital Management, which invests in global public equity, fixed income, currency, and commodity markets. Roy's fund, which manages over 900 million dollars today, has annualized returns of approximately 12%, out performing the S&P and most other money managers. ----- Join the Off the Chain newsletter. Pomp's daily email analyzes the crypto market for institutional investors. Simply, it’s the best crypto newsletter delivered to your inbox every morning. No frills. No bullsh*t. Just everything you need to know in a 3-minute read. https://offthechain.substack.com/ ----- BlockFi BlockFi allows you to keep your crypto, put it up as collateral, and receive a USD loan funded directly to your bank account. They do loans ranging from $2,000 to $10,000,000, and they're perfect for helping you reach your financial goals of all sizes. Visit BlockFi.com/Pomp to learn more about putting your crypto to work without having to sell it. ----- If you enjoyed this conversation, share it with your colleagues & friends, rate, review, and subscribe. This podcast is presented by BlockWorks Group. For exclusive content and events that provide insights into the crypto and blockchain space, visit them at: https://www.blockworksgroup.io

"I would say that 90% of the people I've talked to that have made investments have actually used the term 'picks and shovels', and I'm starting to worry about whether the picks and shovels trade is the crowded trade, not the crypto trade." - Roy Niederhoffer (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group where guest host Chris Solarz continues his conversation with Tim McCourt, the Global Head of Equity Index and Alternative Investment Products at CME Group, James Koutolas, CEO of Typhon Capital Management, and Roy Niederhoffer, President of R.G. Niederhoffer Capital Management. Listen in to learn more about the future of cryptocurrency technologies, the unprecedented strength of the blockchain in Bitcoin, and how the SEC and world economies are looking into cryptocurrencies. Subscribe on: In This Episode, You'll Learn: How pick-and-shovel plays are faring in the crypto market Why Roy is hesitant to make any judgments about the future of cryptocurrency technologies What people are calling the "inconsistent trinity of crypto" The future of scalability in crypto "To me, [the blockchain] is the most secure electronic security ever created." - Tim McCourt (Tweet) Why the cost of trading crypto is not an issue to worry about What makes the blockchain one of the most secure things ever created What makes Bitcoin "anti-fragile" Where the SEC stands now on regulation of Bitcoin "That's one of the most interesting things about the blockchain, is that it's a living breathing digital organism." - James Koutolas (Tweet) Why James worries about ICO's and the security behind them What makes Bitcoin such a unique trading commodity Why James sees new all-time highs in Bitcoin in 2019 This episode was sponsored by CME Group: Connect with our guests:   Learn more about James Koutolas and Typhon Capital Management Learn more about Tim McCourt and CME Group Learn more about Roy Niederhoffer and R.G. Niederhoffer Capital Management   "The barriers represent opportunities, the negative feelings represent bearish sentiment. As they say with the stock market, the S&P climbs a wall of worry; there has never been a wall of worry as high as the crypto wall of worry." - Roy Niederhoffer (Tweet)

"The reason that I'm so bullish on crypto is that it's the first fixed supply asset that has ever existed in human history, with all of the characteristics of money, but without the vice of overcreation, which has happened 100% of the time in human history." - Roy Niederhoffer (Tweet) Welcome to Top Traders Round Table, a podcast series on managed futures brought to you by CME Group. On today's episode, guest host Chris Solarz speaks with Tim McCourt, the Global Head of Equity Index and Alternative Investment Products at CME Group, James Koutolas, CEO of Typhon Capital Management, and Roy Niederhoffer, President of R.G. Niederhoffer Capital Management. Our guests today are at the forefront of cryptocurrency investment and their views give insight on where it is headed, from public acceptance to their integration in managed futures. Listen in to today's episode to learn what makes cryptocurrency unique in human history, the long-term effects of investment, and the new developments that change how we invest them. Subscribe on: In This Episode, You'll Learn: What makes Bitcoin so unique among the history of currencies The differences between Ethereum and Bitcoin What challenges CME faced in creating a futures on something virtual "The challenge [in making the Bitcoin futures] was making sure that as we brought this product to market, that we implemented all the proper risk controls, credit controls, and clearing protocols to give people the confidence and safety to transact something as new as Bitcoin." - Tim McCourt (Tweet) How interest in cryptocurrency has changed over the last couple of years Why the guests disagree about the public long-term interest in cryptocurrency The historical precedent for the benefits of futures in the economy "The amount of venture capital money going in to [the cryptocurrency space] is just overwhelming." - James Koutolas (Tweet) Why it takes various kinds of traders to make the financial system work so well The trading strategies around cryptocurrency and how it has evolved This episode was sponsored by CME Group: Connect with our guests:   Learn more about James Koutolas and Typhon Capital Management Learn more about Tim McCourt and CME Group Learn more about Roy Niederhoffer and R.G. Niederhoffer Capital Management   "I think that the one thing investors really better be cautious about is when they invest in a 'crypto hedge fund', that they're investing in something that's not just long crypto." - James Koutolas (Tweet)

400 episodes = 400 “yes’s” from my heroes. “Yes’s” from Tony Robbins, Richard Branson, Tyra Banks, Tiffany Haddish, Garry Kasparov, Kareem Abdul Jabbar, Tony Hawk, Arianna Huffington and the list goes on (by #392). But first, I had to say “yes.” And I'm glad I did. I hope this episode helps you find your next "yes." --- Part 2 features clips from my interviews with Tony Rock, Sherrod Small, Jocko Willink, Maria Konnikova, Steve Cohen, Ken Langone, Amy Morin, Bishop T.D. Jakes, Rob Corddry, Seth Godin, Roy Niederhoffer and Yuval Noah Harari. I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: Twitter Facebook Linkedin Instagram Links & Resources: "The Ultimate Guide to Self Publishing." This report will teach you all about how to successfully self-publish your own book. And how I created a new revenue stream for myself from it. All the tips are right here. Get your copy at jamesaltucher.com/publish See omnystudio.com/listener for privacy information.

400 episodes = 400 "yes's" from my heroes. "Yes's" from Tony Robbins, Richard Branson, Tyra Banks, Tiffany Haddish, Garry Kasparov, Kareem Abdul Jabbar, Tony Hawk, Arianna Huffington and the list goes on (by #392). But first, I had to say "yes." And I'm glad I did. I hope this episode helps you find your next "yes." --- Part 2 features clips from my interviews with Tony Rock, Sherrod Small, Jocko Willink, Maria Konnikova, Steve Cohen, Ken Langone, Amy Morin, Bishop T.D. Jakes, Rob Corddry, Seth Godin, Roy Niederhoffer and Yuval Noah Harari.   I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify   Follow me on Social Media: Twitter Facebook Linkedin Instagram Links & Resources: "The Ultimate Guide to Self Publishing." This report will teach you all about how to successfully self-publish your own book. And how I created a new revenue stream for myself from it. All the tips are right here. Get your copy at jamesaltucher.com/publish   ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn

This is a must listen for anyone interested in money, wealth creation, investing strategy, crypto, psychology, economics, etc. Roy Niederhoffer is a super investor. And founder of a billion dollar hedge fund. He started earning six-figures at age 13! He taught himself how to code and then started a software company with his friends. He used the money he made to fund his education at Harvard, where he studied neuroscience. And now he applies what he learned about the brain and human behavior to the market. And it only gets more impressive when you find out that he really came from humble beginnings (his father was a cop). So, this interview will cover everything from investing strategy to the future of currency PLUS book recommendations, methods to stay motivated and more.   Also Mentioned Monroe Trout Toby Cravel Paul Jones Space Invaders video game TSR-80 Pac-Man Ms. Pac-Man Scott Adams Beethovens’ Symphony No. 5  Daniel Kahneman author of “Thinking Fast and Slow”  “The Blank Slate” by Steven Pinker Joseph Stiglitz “Antifragile” by Nassim Taleb I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast. Thanks so much for listening! If you like this episode, please subscribe to “The James Altucher Show” and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify Follow me on Social Media: Twitter Facebook Linkedin Instagram See omnystudio.com/listener for privacy information.

This is a must listen for anyone interested in money, wealth creation, investing strategy, crypto, psychology, economics, etc. Roy Niederhoffer is a super investor. And founder of a billion dollar hedge fund. He started earning six-figures at age 13! He taught himself how to code and then started a software company with his friends. He used the money he made to fund his education at Harvard, where he studied neuroscience. And now he applies what he learned about the brain and human behavior to the market. And it only gets more impressive when you find out that he really came from humble beginnings (his father was a cop). So, this interview will cover everything from investing strategy to the future of currency PLUS book recommendations, methods to stay motivated and more.     Also Mentioned Monroe Trout Toby Cravel Paul Jones  Space Invaders video game TSR-80 Pac-Man Ms. Pac-Man Scott Adams Beethovens' Symphony No. 5  Daniel Kahneman author of "Thinking Fast and Slow"  "The Blank Slate" by Steven Pinker Joseph Stiglitz "Antifragile" by Nassim Taleb     I write about all my podcasts! Check out the full post and learn what I learned at jamesaltucher.com/podcast.   Thanks so much for listening! If you like this episode, please subscribe to "The James Altucher Show" and rate and review wherever you get your podcasts: Apple Podcasts Stitcher iHeart Radio Spotify   Follow me on Social Media: Twitter Facebook Linkedin Instagram ------------What do YOU think of the show? Head to JamesAltucherShow.com/listeners and fill out a short survey that will help us better tailor the podcast to our audience!Are you interested in getting direct answers from James about your question on a podcast? Go to JamesAltucherShow.com/AskAltucher and send in your questions to be answered on the air!------------Visit Notepd.com to read our idea lists & sign up to create your own!My new book, Skip the Line, is out! Make sure you get a copy wherever books are sold!Join the You Should Run for President 2.0 Facebook Group, where we discuss why you should run for President.I write about all my podcasts! Check out the full post and learn what I learned at jamesaltuchershow.com------------Thank you so much for listening! If you like this episode, please rate, review, and subscribe to "The James Altucher Show" wherever you get your podcasts: Apple PodcastsiHeart RadioSpotifyFollow me on social media:YouTubeTwitterFacebookLinkedIn

"If you really believe in what you’re doing - you should not be de-levering in a drawdown." - Kim Bang (Tweet) In our second part of this conversation, we dive into the details of the program that Kim runs. We discuss why it's important to stick with your models, even in times of severe drawdowns, and how Kim views risk. He also talks about the books and people that have inspired him in his career. Thanks for listening and please welcome back Kim Bang. Subscribe on: In This Episode, You'll Learn: The details behind the program Kim runs. "I think there’s a direct correlation between the simpler a model is, the more robust it is." - Kim Bang (Tweet) What he feels about larger drawdowns. "If you believe in your models, never ever deviate from them." - Kim Bang (Tweet) What kind of indicators goes into the models that he uses. "We are probably out of the markets about a third of the time." - Kim Bang (Tweet) Why he uses a non-cyclical approach to creating trading models. How he looks at volatility. What kind of mean reversion strategies he uses. How he responded to the Swiss Franc move. "In general - these are the kinds of events that we live for." - Kim Bang (Tweet) How Kim quantifies risk. How do you prepare for a drawdown when you haven’t gone through a significant one? How his firm comes up with new ideas and goes about doing research. The positives and challenges with working as a father and son team in the same firm. How he knows when a model has stopped working. What he is doing to launch his first fund. "We have an inverse problem, where it’s costing us to keep money in cash." - Kim Bang (Tweet) What questions investors should be asking in due diligence conversations with him. "Most of the conversations we’ve had so far are with these early adopters, and they are very savvy." - Kim Bang (Tweet) What books have impacted Kim’s career. How he sees the firm in the future. Resources & Links Mentioned in this Episode: Books that have influenced Kim include Market Wizards, The Quants, and books by Ralph Vince. Learn more about people who have inspired Kim, including Roy Niederhoffer, Welles Wilder, and John Henry. This episode was sponsored by Swiss Financial Services: Connect with Prolific Capital Markets: E-Mail Prolific Capital Markets : kbang@prolific-capital.com Follow Kim Bang on Linkedin "If you want to be in this space at the cutting edge and you want to compete, you have to be somewhat original. Not completely from scratch, but somewhat original in the way you extract earnings." - Kim Bang (Tweet)

There are still hoops to be jumped through, but it looks like, as Monty Python would say, New York City Opera is not dead yet. Last week, the bankrupt company's board of directors voted to approve the sale of its remaining assets – minus the endowment – to a group, called NYCO Renaissance, headed by Michael Capasso and Roy Niederhoffer. Capasso is general director of the Dicapo Opera Theatre; Niederhoffer is the founder of R.G. Niederhoffer Capital Management, Inc., and a former City Opera board member. Both join us on this episode to talk about their plans. NYCO Renaissance is, in fact, one of several suitors who have been angling to take over the City Opera name and assets, and the group still has to win approval from a bankruptcy judge. But Capasso and Niederhoffer have raised $2.6 million in pledges, garnered support from former City Opera musicians, and have planned an all-star tribute gala to the late City Opera maestro Julius Rudel in March. The event is to feature singers that Rudel worked with over the years, including Plácido Domingo, Frederica von Stade and James Morris. Nevertheless, these plans have drawn skepticism from some observers, in part because of the checkered financial past of Capasso's company. Host Naomi Lewin asks him about that, and also speaks with James Jorden, the editor of the opera website Parterre.com. "No one will be happier than I if New York City has another major opera company," says Jorden, who also writes for the New York Observer. He also cautions: "But I just can't understand how such a plan might work, especially when right now, the Metropolitan Opera is hurting for ticket sales." Listen to the full segment above and tell us in the comments below: what you think of the plans to revive City Opera?

In our continued conversation with Roy Niederhoffer, we discuss risk management, drawdowns, why negative correlation is so important to Roy, and what gets him out of bed every morning (and what keeps him awake at night). Learn more about how to create a balanced and diversified portfolio or what it takes to be a manager.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You'll Learn:What has changed by the fact that more and more trading decisions are made by computers instead of humans.The issue of model decay in Roy's field.Why he has constructed his trading program the way that he has.His ten-step process from idea generation to putting it into the system. The research process laid out.How his firm does research.How position sizing plays a role in the short term space.How he keeps model slippage to a minimum.Risk management and how Roy deals with it.When to use discretion to reduce risk.What he learns from going through a drawdown.How he keeps investors in the firm during a tough time.How he personally deals with drawdowns.How he measures the effectiveness of his research.If his risk tolerance went down once he had more money under management.What the biggest challenge is for Roy in the short term management space.What investors are not asking him during due diligence.What makes him go into work everyday.Books that Roy recommends reading for managers and investors.How the office environment affects how investors perceive a firm.About downside protection and negative correlation.-----ATTENTION TTU TRIBE : SIGN-UP for Rick Rule's Symposium: Once in a life-time natural resource insights from the BEST investors in the world via a first-class livestream or Live event!Resources & Links Mentioned in this Episode:Roy mentions the Extraordinary Popular Delusions and the Madness of Crowds.He recommends Reminiscences of a Stock Operator.Roy highly recommends Thinking, Fast and Slow.Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “The Many Flavors of Trend Following”

Roy Niederhoffer has a fascinating live story that starts with Harvard and neuroscience and continues into his starting a hedge fund in the short-term trading space in 1993. Roy discusses the exciting and bootstrapping beginnings of his firm, the cognitive biases that keep most humans from making good investment decisions, and how his firm stands out from other CTAs. Investors and managers alike will learn a wealth of information from this episode.-----EXCEPTIONAL RESOURCE: Find Out How to Build a Safer & Better Performing Portfolio using this FREE NEW Portfolio Builder ToolIn This Episode, You'll Learn:How Roy got interested in the financial markets from an interest in computers at a young age.How he started a company that had 30 employees by the end of his high school.How his brother was an early adopter in the Hedge Fund space.How he spent his undergraduate years studying neuroscience.Roy graduated from Harvard and was set to go to Cambridge for neuroscience until he worked for his brother for a summer.The story of how he started his firm and when he began trading in July 1993.How the human brain influences behavior and how that translates to trading.Cognitive biases and how to avoid them in the financial market.What Roy thinks of trend following and how to explain it to the public.The other investors he worked at in his first job out of college, that later became famous investors in their own right.Why Roy's firm was “employing” a cook and a maid when they started the business in 1993.How he plays in a symphony and keeps up his pursuit of being a musician while running his firm at the same time.What he thinks about the future of the CTA industry.How his model works in an ecosystem of other portfolio management options.How they distinguish themselves from other CTAs.An overview of the strategies that his firm does today.How the infrastructure of the business is setup today and the unique opportunities of the short term space.What he looks for when adding people to his research team.The culture that he has created at the firm.What matters to him when investors look at the track record of his firm.-----ATTENTION TTU TRIBE : SIGN-UP for Rick Rule's Symposium: Once in a life-time natural resource insights from the BEST investors in the world via a first-class livestream or Live event!Resources & Links Mentioned in this Episode:Learn more about Roy from his wikipedia article.Niels mentions that listeners should also check out the Top Traders Unplugged episodes with Kathryn Kaminsky.Follow Niels on Twitter, LinkedIn, YouTube or via the