- Paperback: 512 pages
- Publisher: John Wiley & Sons Inc; 1 edition (17 January 2012)
- Language: English
- ISBN-10: 9781118273050
- ISBN-13: 978-1118273050
- ASIN: 1118273052
- Product Dimensions: 14.7 x 3.6 x 22.1 cm
- Boxed-product Weight: 621 g
- Average Customer Review: 2 customer reviews
- Amazon Bestsellers Rank: 18,178 in Books (See Top 100 in Books)
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Market Wizards: Interviews with Top Traders (Updated) Paperback – 17 Jan 2012
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From the Back Cover
The Investment Classic, Updated with a New Preface and Afterword
"I've read the book at several stages of my career as it shows the staying power of good down-to-earth wisdoms of true practitioners with skin in the game. This is the central document showing the heuristics that real-life traders use to manage their affairs, how people who do rather than talk have done things. Twenty years from now, it will still be fresh. There is no other like it." Nassim N. Taleb, former derivatives trader, author of The Black Swan, and professor, NYU-Poly
Praise for the First Edition
"Market Wizards is one of the most fascinating books ever written about Wall Street. A few of the 'Wizards' are my friendsand Jack Schwager has nailed their modus operandi on the head." Martin W. Zweig, PhD, Editor, The Zweig Forecast
"It is difficult enough to develop a method that works. It then takes experience to believe what your method is telling you. But the toughest task of all is turning analysis into money. If you don't believe it, try it. These guys have it all: a method, the conviction, and the discipline to act decisively time after time, regardless of distractions and pressures. They are heroes of Wall Street, and Jack Schwager's book brings their characters vividly to life." Robert R. Prechter Jr., Editor, The Elliott Wave Theorist
Featuring interviews with seventeen of the most successful market-beaters, including Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michael Steinhardt, Ed Seykota, Marty Schwartz, and Tom Baldwin, Market Wizards is packed with real-life anecdotes from the trading world. From the electrical engineer from MIT whose computerized trading earned returns of 250,000% over sixteen years to the trader who, after wiping out several times, successfully turned a $30,000 investment into an $80 million fortune, Schwager identifies the factors that define a true Market Wizard.
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Most helpful customer reviews on Amazon.com
Recommended by Sam Sieden and Bill Henner of Online Trading Academy. Glad I bought it.
To get the full benefit, it is necessary to read from beginning to end. What strikes me most is both the depth and breadth covered by the interviews. The book is divided into several segments, covering futures, equities, investors who follow economy-wide trends, and a little bit of psychological analysis. The key to learning from this book is linking the ideas from all the separate interviews together.
By the end, you will see subtle differences in the thinking behind futures, equities, and even stock option trading. Despite the various traders having a wide range of opinions and philosophies, you will find many commonalities in each interview. Though each trader used radically different methods, they all had a standardized set of rules that were followed and led to success. Most of these rules involved some benchmark for cutting losses.
Interestingly enough, this book is not written or condensed in anyway. It consists of outright transcripts of interviews Schwager conducted with the actual traders. I believe this style kept each page exciting because it actually felt as if I was present during the interview.
This is one of the essential reads for any young or old person wanting to engage the trading field, whether as a part time endeavor or as a career. Study Market Wizards, and use the wisdom of its pages to your money-making advantage!
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