Stock Market Wizards: Interviews with America's Top Stock Traders
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- Type：Epub+TxT+PDF+Mobi
- Create Date：2021-06-12 08:53:45
- Update Date：2025-09-13
- Status：finish
- Author：Jack D. Schwager
- ISBN：0066620597
- Environment：PC/Android/iPhone/iPad/Kindle
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Summary
The third in the bestselling Market Wizards series， this time focusing on the barometer of the economy - the stock market。
It has been nearly a decade since the publication of the highly successful The New Market Wizards。 The interim has witnessed the most dynamic bull market in US stock history， a collapse in commodity prices， dramatic failures in some of the world′s leading hedge funds， the burst of the Internet bubble， a fall into recession and subsequent rumblings of recovery。 Who have been the market wizards during this tumultuous financial period？ How did some traders manage to significantly outperform a stockmarket that during its heyday moved virtually straight up？
This book will feature interviews with a variety of traders who achieved phenomenal financial success during the glory days of the Internet boom。 In contrast with the first two Market Wizard books， which included traders from a broad financial spectrum - stocks， bonds， currencies and futures - this volume will focus on traders in the stockmarket。
It has been nearly a decade since the publication of the highly successful The New Market Wizards。 The interim has witnessed the most dynamic bull market in US stock history， a collapse in commodity prices， dramatic failures in some of the world′s leading hedge funds， the burst of the Internet bubble， a fall into recession and subsequent rumblings of recovery。 Who have been the market wizards during this tumultuous financial period？ How did some traders manage to significantly outperform a stockmarket that during its heyday moved virtually straight up？
This book will feature interviews with a variety of traders who achieved phenomenal financial success during the glory days of the Internet boom。 In contrast with the first two Market Wizard books， which included traders from a broad financial spectrum - stocks， bonds， currencies and futures - this volume will focus on traders in the stockmarket。
Reviews
Thiện Thuận
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Những bài phỏng vấn đầu tiên của sách khá hay， càng về giữa và cuối sách thì đọc càng chán。 Một số nhà đầu tư trả lời phỏng vấn kiểu giấu nghề hoặc đưa ra các lời khuyên sáo rỗng。 Nói chung， cuốn này chỉ giá trị ở phần đầu。 Ý tưởng chính của cuốn này là bạn phải chọn phong cách đầu tư hợp với tính cách của bạn。 Hết。
Styron Powers
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Excellent Summary of lessons From Top Stock TradersSeveral interviews with some of America’s top stock traders。 An opportunity to learn similar strong traits and divergent strategies。 Highly recommend for any individual who wants to educate self about successfully investing in the stock market。
Joss
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This review has been hidden because it contains spoilers。 To view it， click here。 1。 Đừng để bị cuốn vào những tiểu tiết mà bỏ lỡ bức tranh toàn cảnh Duy trì một cái nhìn toàn cảnh。 Tập trung vào toàn bộ thị trường và nhóm ngành， chứ không phải chỉ một cổ phiếu riêng lẻ。 Hãy chú ý đến các yếu tố chất lượng chứ không chỉ tập trung vào các thông tin định lượng có sẵn。 Xây dựng một kế hoạch giao dịch bao gồm mọi phương tiện về giao dịch chứ không chỉ là chiến lược thâm nhập thị trường。
Can
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it is quite weak compared the others。 most of them dont say anything useful at all。 only alphonse fletcher and john bender parts are interesting and useful otherwise it is a sham。
Ulio
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One of the better books about trading。 You will pretty much get 1-2 good tips from each interview。 I actually was hesitant going into a book which is just interviews but it is actually an genius template for even other industries。 Reading interviews of the best people in your field is just an amazing resource。Some of the traders's returns sounded crazy unrealistic and I could not dig up anything about them in the internet which is weird but most of them have some articles or bloomberg about the One of the better books about trading。 You will pretty much get 1-2 good tips from each interview。 I actually was hesitant going into a book which is just interviews but it is actually an genius template for even other industries。 Reading interviews of the best people in your field is just an amazing resource。Some of the traders's returns sounded crazy unrealistic and I could not dig up anything about them in the internet which is weird but most of them have some articles or bloomberg about their fund so they are legit。You won't get something out of every interview because some of them just do a very niche or complex trading strategy like abritrage during mergers or finding loopholes in option's black scholes pricing method。 But if you take notes from every trader you will notice few things that they all have in common， let's call it a trend。 They all have AMAZING risk management for their specific styles。 They all have SPECIFIC STYLES for themselves。 Trading is more like an art than science that's why I believe it's more reliant on the person's character and biases which style they will succeed。 IF you are a low risk long term trader you will not be using options or futures。 You will stock to trading blue chips or buying massively oversold or undervalued companies。Anyway the best way to get something out of this book is not to take advice from any single interview but notice the things they all agree upon and implement that to your game。 。。。more
Justin
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This is essential
Gurmukh Sandhu
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Full of useful nuggets on Trading process
Jason Comely
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Instructive， especially for a naive like me who has fumbled many lucrative deals and opportunities。 Mastering trade in the markets requires self-cultivation （something I'm big on） and that's where the appeal is to me。 That's where the real riches are。 Instructive， especially for a naive like me who has fumbled many lucrative deals and opportunities。 Mastering trade in the markets requires self-cultivation （something I'm big on） and that's where the appeal is to me。 That's where the real riches are。 。。。more
Dawei Liu
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A similar vibe to Market Wizards， this time entirely focused on stock traders。 A lot of the individuals interviewed in this book are day traders with a few that are a bit longer term。 Overall， some of them have views that are antithetical to my own， but still， quite interesting and relevant given how Schwager deliberately covers a wide swath of “strategies”。 Again， his skill in getting interviewees to drop their guard and provide more interesting commentary is quite evident。 I hesitate to rate t A similar vibe to Market Wizards， this time entirely focused on stock traders。 A lot of the individuals interviewed in this book are day traders with a few that are a bit longer term。 Overall， some of them have views that are antithetical to my own， but still， quite interesting and relevant given how Schwager deliberately covers a wide swath of “strategies”。 Again， his skill in getting interviewees to drop their guard and provide more interesting commentary is quite evident。 I hesitate to rate this higher as there really isn’t much relevant “analysis” or true educational parts of the book。 I’d say every person probably gets a different lesson or takeaway from these interviews。 Overall， it’s still worth reading as the chapters speed by， but I wouldn’t consider this a core text by any stretch of the imagination。 Also， the focus on Cohen is a bit off-putting again given what we now know today。 。。。more
Sangam Agarwal
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Best book。 It is like reading multiple biographies at the same time。
Leon
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The book contains great stories by many individuals that have made it in the stock market。 The last chapter where the author summarizes his findings and thoughts is useful to me。
Tony WANG
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The fourth edition of the Market Wizard series offered some unique perspectives from a rather diverse pool of stock traders in the market。 The diversity in this book， for the first time includes a successful female， an African American， a Turkish and Italian immigrant and a quant hedge fund money managers。 Kudos to Schwager for his never-ending quest to educate the main-street about the Market through conversations with the professionals。 However， only less than half a dozen of the case studies The fourth edition of the Market Wizard series offered some unique perspectives from a rather diverse pool of stock traders in the market。 The diversity in this book， for the first time includes a successful female， an African American， a Turkish and Italian immigrant and a quant hedge fund money managers。 Kudos to Schwager for his never-ending quest to educate the main-street about the Market through conversations with the professionals。 However， only less than half a dozen of the case studies in this book I find interesting particularly Minervini and Lescarbeau。 A lot of the Wizards did not disclose any specifics about their trading regiment。 （which is understandable） Thus some interviewees offered little to no value/insight apart from some anecdotes and generic advices。 Nonetheless， a solid 4/5。 。。。more
Raphael de Ocampo
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“There’s no definite path to success” Schwager’s Stock Market Wizards echoes the idea that there is no singular path to being a successful trader。 The fifteen interviewees， from quantitative traders to gut-feel corporate raiders， demonstrates the aforementioned idea nicely。 That being said， Schwager states that there are fundamental qualities and habits which merit success in trading， or in any endeavor。 After reading this book， I concur。
Peter Lange
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Very good and diversified book。 However - readers should in my opinion keep in mind that there is a difference between investing in trading。 This book is about trading but it does make this clear。
Sal Fernz
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First Market Wizards read in early 1990。
Sanford Chee
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Steven A。 Cohen: "If I am in the trade because of a catalyst， the first thing I check is whether the catalyst still applies。""If you think you’re wrong， or if the market is moving against you and you don’t know why， take in half。 You can always put it on again。 If you do that twice， you’ve taken in three-quarters of your position。 Then what’s left is no longer a big deal。 The thing is to start moving your feet。 I find that too many traders just stand there and let the truck roll over them。 A com Steven A。 Cohen: "If I am in the trade because of a catalyst， the first thing I check is whether the catalyst still applies。""If you think you’re wrong， or if the market is moving against you and you don’t know why， take in half。 You can always put it on again。 If you do that twice， you’ve taken in three-quarters of your position。 Then what’s left is no longer a big deal。 The thing is to start moving your feet。 I find that too many traders just stand there and let the truck roll over them。 A common mistake traders make in shorting is that they take on too big of a position relative to their portfolio。 Then when the stock moves against them， the pain becomes too great to handle， and they end up panicking or freezing。"“The basic idea is that you trade your theory and then let the market tell you whether you are right。” 。。。more
CaptainWolfsborg
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Schwager interviews and reviews the absolute top stock market traders providing a unique insight direct into the mindsets of the very best performers of this domain。 Some traders interviewed in the book are very restrictive on disclosing their strategies due to the fear of losing the functioning of their carefully polished strategies when the masses start copying them， and I agree on that consideration。 However， there are still many very useful hints and trading philosophies， behavior considerat Schwager interviews and reviews the absolute top stock market traders providing a unique insight direct into the mindsets of the very best performers of this domain。 Some traders interviewed in the book are very restrictive on disclosing their strategies due to the fear of losing the functioning of their carefully polished strategies when the masses start copying them， and I agree on that consideration。 However， there are still many very useful hints and trading philosophies， behavior considerations， habit descriptions revealed by clever questioning and comment of the author。Each trader has their own style and edge， many of their suggestions and theories are contradictory， but all of them， no matter those differences， are making huge amounts of money， just proving the point that everybody must have their own style to succeed in this hard endeavor。 Some of the traders in the book seem to be so unbelievably stupid in their decisions that you really wonder how they survived， maybe， it was just a pure luck in some cases。 And then， there are many traders interviewed in this book that will really inspire the reader。 For example， Mark Minervini， one of my favorite traders is one among them。It is a must-read trading book。 Read it carefully and find your gems which has a huge potential of improving your way of thinking and your trading process。 。。。more
Bidhan
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A delightful read！Focuses on how there is no hard and fast rule for successful investment/trading other than having the right mentality， discipline and hard work。 The interviews included are not necessarily on how successful individuals have invested to teach the reader their methods but rather how important it is to build and evolve your own investment philosophies and not take things at face value （reports will tend to be biased / when an investor is being interviewed either most seem to have A delightful read！Focuses on how there is no hard and fast rule for successful investment/trading other than having the right mentality， discipline and hard work。 The interviews included are not necessarily on how successful individuals have invested to teach the reader their methods but rather how important it is to build and evolve your own investment philosophies and not take things at face value （reports will tend to be biased / when an investor is being interviewed either most seem to have already picked a side / popularity can destroy a sound approach / it is important to analyze your own past trades to understand where the mistakes lie）。 Will definitely be referencing this book in the future。 。。。more
Lucas
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Is a nice book， although it is not mind blowing。It give a wide perspective of the found managers and tries really hard to take those thoughts to the small trader。 Which is imposible is you as me。
Terry Kim
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Yet another great Market Wizards book。 My review is pretty much the same as previous market wizards， great insights from great traders。 One thing that got me really inspired is that many of these very successful traders， failed a lot more than others and a lot bigger as well （i。e。 half million dollar losses）。 However these individuals did not call it quits and rather came back for more， stronger each time。 I really think this is one of the biggest keys to success。 Having that attitude of never q Yet another great Market Wizards book。 My review is pretty much the same as previous market wizards， great insights from great traders。 One thing that got me really inspired is that many of these very successful traders， failed a lot more than others and a lot bigger as well （i。e。 half million dollar losses）。 However these individuals did not call it quits and rather came back for more， stronger each time。 I really think this is one of the biggest keys to success。 Having that attitude of never quitting。 Good read。 。。。more
erjan avid reader
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i skipped factual q/a parts。 I only read the summary of each trader's vision。Everybody trades differently。 Find your personality in the market， find your edge and stick to it。 i skipped factual q/a parts。 I only read the summary of each trader's vision。Everybody trades differently。 Find your personality in the market， find your edge and stick to it。 。。。more
John Richards
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Real stories for serious market participents
Ian Cassel
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Interviews with the best traders and investors。
Scott G。
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This is actually a fantastic book for anyone who is interested in the financial markets， investing， or trading in general。 It showcases the lives， backgrounds， and styles of a multitude of investors， hedge fund managers， traders， etc。 Basically， a variety of different people who have made their fortunes in which their careers revolve around the financial markets。 Some good principles and interesting stuff。
Perry
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the last chapter， Wizard Lessons， alone is worth the price！
Khairul Bashar
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This is one remarkable book which contains interviews of 15 top traders。 Each trader has some common traits and each trader some unique philosophy about the market。 Everything is so well articulated throughout the book by Jack D。 Schwager that I could feel the blood pumping through my veins while reading the experiences and methodologies used by these traders。 People who have passion for stock market should find this book thrilling。
Greg Talbot
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If you lost $350，000 in trading， would you have what it takes to move back to the farm， and milk cows after your day job？ Well that's just what Mark Cook did， and his story while very unique and full of personality has the trajectory of a lot of traders in this book。 They all put in inordinate amount of time， perfected a method and style that matched their personalty，and learned how to read through the indicators， past the Wall Street choir， and make it their own way。Schwager's book both won't m If you lost $350，000 in trading， would you have what it takes to move back to the farm， and milk cows after your day job？ Well that's just what Mark Cook did， and his story while very unique and full of personality has the trajectory of a lot of traders in this book。 They all put in inordinate amount of time， perfected a method and style that matched their personalty，and learned how to read through the indicators， past the Wall Street choir， and make it their own way。Schwager's book both won't make you millions， but it will give fairly candid profiles of the people who did make it in a big wayDavid Shaw's chapter "The Quantitative Edge" was really fascinating。 He took a high-tech approach， and is looking for market irregularities through pattern recognition。 Dana Galante's chapter on options trading was great too， since she has a blunt and pragmatic perspective。 Really every chapter has its gems。Read it to the end， it's a page turner， and the appendix has a great list of recommended books。We are living in some troubled financial times， and has given more credence toward the need to be self-reliant on personal finance and investing。 This book gives us insight into the character to succeed an the breadcrumbs that lead ot success。 。。。more
Karl Kranich
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Fascinating to read about how successful traders do it！
Loh
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Good book that outlined to me the emotional discipline ， as well as emotional tenacity to accept failure when dealing with stocks。 I have also learnt how important it is to treat stock trading as a vocation， and I hope to review my own career plans as well， hopefully aligning them to the real pressures of the corporate world。 Books was made better by the fact I got it for $2 lol。
Jeremy Raper
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