Neither Victor Niederhoffer, nor Jim Cramer, is worth emulating, nor can either proffer much re trading. Victor not only went broke, but took all investors in his fund with him, in a "bet" that was ultimately doomed to fail (selling nakes puts, in volume.)Cramer made his trading money years ago, largely on the short side, & often by spreading mis-information, and/or trading on insider info (likely legal at the time.)I've never been a fan of Altucher, after watching various appearances on CNBC, but his indifference to Ayn Rand for anyone interested in reason, individualism, capitalism, is a bit outrageous.
Why do you think I have indifference to Ayn Rand. I'm self-made AND have to had to deal with the anonymous critics who are afraid to show their names for the past 20 years.
What you missed learning from Jim - partner with a naked shortselling hedge fund and a financial journalist that daily trashes your target, a winning combination as your college buddy Spitzer looks the other way. Naked shortselling is illegal and the journalist, unethical at least. Do your research. His talent is in gaming the system, as he has admitted he learned from his employers in his youth. That he is on tv shows me how corrupt and/or ignorant this country has become.
Cramer admits in his book, "Confessions of a Street Addict" that he couldn't make any money at his fund until his wife, a trader at Steinhardt, taught him how to get inside information on institutional order flow and analyst upgrades. It right there on pages 49-52.