envision Niederhoffer borrowing money from his children, and selling off his silver, and talking in a hollow voice about letting down his friends, and Taleb did not know if he had the strength to live with that possibility. Unlike Niederhoffer, Taleb never thought he was invincible. You couldn’t if you had watched your homeland blow up, and had been the one person in a hundred thousand who gets throat cancer, and so for Taleb there was never any alternative to the painful process of insuring himself against catastrophe.
This kind of caution does not seem heroic, of course. It seems like the joyless prudence of the accountant and the Sunday school teacher. The truth is that we are drawn to the Niederhoffers of this world because we are all, at heart, like Niederhoffer: we associate the willingness to risk great failure—and the ability to climb back from catastrophe—with courage. But in this we are wrong. That is the lesson of Taleb and Niederhoffer, and also the lesson of our volatile times. There is more courage and heroism in defying the human impulse, in taking the purposeful and painful steps to prepare for the unimaginable.
In the fall of 2001, Niederhoffer sold a large number of options, betting that the markets would be quiet, and they were, until out of nowhere two planes crashed into the World Trade Center. “I was exposed. It was nip and tuck.” Niederhoffer shook his head, because there was no way to have anticipated September 11. “That was a totally unexpected event.”[2]
True Colors
HAIR DYE AND THE HIDDEN HISTORY OF POSTWAR AMERICA
1.
During the Depression—long before she became one of the most famous copywriters of her day—Shirley Polykoff met a man named George Halperin. He was the son of an Orthodox rabbi from Reading, Pennsylvania, and soon after they began courting he took her home for Passover to meet his family. They ate roast chicken, tzimmes, and sponge cake, and Polykoff hit it off with Rabbi Halperin, who was warm and funny. George’s mother was another story. She was Old World Orthodox, with severe, tightly pulled back hair; no one was good enough for her son.
“How’d I do, George?” Shirley asked as soon as they got in the car for the drive home. “Did your mother like me?”
He was evasive. “My sister Mildred thought you were great.”
“That’s nice, George,” she said. “But what did your mother say?”
There was a pause. “She says you paint your hair.” Another pause. “Well, do you?”
Shirley Polykoff was humiliated. In her mind she could hear her future mother-in-law: Fahrbt zi der huer? Oder fahrbt zi nisht? Does she color her hair? Or doesn’t she?
The answer, of course, was that she did. Shirley Polykoff always dyed her hair, even in the days when the only women who went blond were chorus girls and hookers. At home in Brooklyn, starting when she was fifteen, she would go to Mr. Nicholas’s beauty salon, one flight up, and he would “lighten the back” until all traces of her natural brown were gone. She thought she ought to be a blonde—or, to be more precise, she thought that the decision about whether she could be a blonde was rightfully hers, and not God’s. Shirley dressed in deep oranges and deep reds and creamy beiges and royal hues. She wore purple suede and aqua silk, and was the kind of person who might take a couture jacket home and embroider some new detail on it. Once, in the days when she had her own advertising agency, she was on her way to Memphis to make a presentation to Maybelline and her taxi broke down in the middle of the expressway. She jumped out and flagged down a Pepsi-Cola truck, and the truck driver told her he had picked her up because he’d never seen anyone quite like her before. “Shirley would wear three outfits, all at once, and each one of them would look great,” Dick Huebner, who was her creative director, says. She was flamboyant and brilliant and vain in an irresistible way, and it was her conviction that none of those qualities went with brown hair. The kind of person she spent her life turning herself into did not go with brown hair. Shirley’s parents were Hyman Polykoff, small-time necktie merchant, and Rose Polykoff, housewife and mother, of East New York and Flatbush, by way of the Ukraine. Shirley ended up on Park Avenue at Eighty-second. “If you asked my mother ‘Are you proud to be Jewish?’ she would have said yes,” her daughter, Alix Nelson Frick, says. “She wasn’t trying to pass. But she believed in the dream, and the dream was that you could acquire all the accouterments of the established affluent class, which included a certain breeding and a certain kind of look. Her idea was that you should be whatever you want to be, including being a blonde.”
In 1956, when Shirley Polykoff was a junior copywriter at Foote, Cone & Belding, she was given the Clairol account. The product the company was launching was Miss Clairol, the first hair-color bath that made it possible to lighten, tint, condition, and shampoo at home, in a single step—to take, say, Topaz (for a champagne blond) or Moon Gold (for a medium ash), apply it in a peroxide solution directly to the hair, and get results in twenty minutes. When the Clairol sales team demonstrated their new product at the International Beauty Show, in the old Statler Hotel, across from Madison Square Garden, thousands of assembled beauticians jammed the hall and watched, openmouthed, demonstration after demonstration. “They were astonished,” recalls Bruce Gelb, who ran Clairol for years, along with his father, Lawrence, and his brother Richard. “This was to the world of hair color what computers were to the world of adding machines. The sales guys had to bring buckets of water and do the rinsing off in front of everyone, because the hairdressers in the crowd were convinced we were doing something to the models behind the scenes.”
Miss Clairol gave American women the ability, for the first time, to color their hair quickly and easily at home. But there was still the stigma—the prospect of the disapproving mother-in-law. Shirley Polykoff knew immediately what she wanted to say, because if she believed that a woman had a right to be a blonde, she also believed that a woman ought to be able to exercise that right with discretion. “Does she or doesn’t she?” she wrote, translating from the Yiddish to the English. “Only her hairdresser knows for sure.” Clairol bought thirteen ad pages in
Today, when women go from brown to blond to red to black and back again without blinking, we think of hair-color products the way we think of lipstick. On drugstore shelves there are bottles and bottles of hair-color products with names like Hydrience and Excellence and Preference and Natural Instincts and Loving Care and Nice ’n Easy, and so on, each in dozens of different shades. Feria, the new, youth-oriented brand from L’Oreal, comes in Chocolate Cherry and Champagne Cocktail—colors that don’t ask “Does she or doesn’t she?” but blithely assume “Yes, she does.” Hair dye is now a billion-dollar-a-year commodity.
Yet there was a time, not so long ago—between, roughly speaking, the start of Eisenhower’s administration and the end of Carter’s—when hair color meant something. Lines like “Does she or doesn’t she?” or the famous 1973 slogan for L’Oreal’s Preference—“Because I’m worth it”—were as instantly memorable as “Winston tastes good like a cigarette should” or “Things go better with Coke.” They lingered long after advertising usually does and entered the language; they somehow managed to take on meanings well outside their stated intention. Between the fifties and the seventies, women entered the workplace, fought for social emancipation, got the Pill, and changed what they did with their hair. To examine the hair-color campaigns of the period is to see, quite unexpectedly, all these things as bound up together, the profound with the seemingly trivial. In writing the history of women in the postwar era, did we forget something important? Did we leave out hair?
