The New Market Wizards: Conversations with America's Top Traders

ISBN-13: 9781592803378 / Angielski / Twarda / 2008 / 624 str.

Jack D. Schwager

Opis

Taps into the minds of today's trading superstars to reveal the secrets of their astonishing success In these absorbing interviews with star performers in the financial markets, Schwager humanizes the mechanics and psychology behind the trading world in such sophisticated instruments as currencies, stock options, commodity futures, and mutual-fund accounts by individuals, investment firms and group-trading computerized -money machines.- One trader focuses on market response to news events, another calculates mathematical probabilities--one even cocks an ear to the noise level on the exchange floor. All rank assiduous research, self-confidence, a specific plan and the courage to cut losses among essentials to success. Few consider their work gambling, but Schwager entertainingly argues that a successful trader needs many of the qualities of a good poker player. Though the subject matter is esoteric, there is much here to attract the general reader, and Schwager appends a -primer- of technical basics. You may not know their names, but they are the trading elite--a select group of super-money makers whose trading prowess has become the stuff of legend. They are speculators in everything from stocks and bonds to options and commodity futures who make millions--often in a matter of hours--and leave their peers in the dust. In this enthralling sequel to his international bestseller, Market Wizards, Jack Schwager interviews these stars, asking the questions that everyone with an interest in the financial markets would love know the answers to and receiving the kind of frank, occasionally bewildering answers that make this book as much a page-turner as its predecessor.

• Interviews with spectacular winners across the full spectrum of financial markets, revealing how they do it and what, personally, separates them from the herd
• Superstar traders describe the financial strategies behind their phenomenal successes, as well as the painfully instructive lessons learned from their worst losses
• Reveals that, despite their various quirks and differences, all the biggest winners rank diligent research, self-confidence, a specific plan and the courage to cut losses as the keys to winning big
• Throughout, Schwager provides valuable insight and analysis to help put interviewees responses into perspective, and he provides a technical basics primer at the end of the book

Spis treści

TRADING PERSPECTIVES.

Misadventures in Trading.

Hussein Makes a Bad Trade.

THE WORLD′S BIGGEST MARKET.

Bill Lipschutz: The Sultan of Currencies.

FUTURES––THE VARIETY–PACK MARKET.

Randy McKay: Veteran Trader.

The Silence of the Turtles.

Al Weiss: The Human Chart Encyclopedia.

FUND MANAGERS AND TIMERS.

Gil Blake: The Master of Consistency.

Victor Sperandeo: Markets Grow Old Too.

MULTIPLE–MARKET PLAYERS.

Tom Basso: Mr. Serenity.

THE MONEY MACHINES.

CRT: The Trading Machine.

Mark Ritchie: God in the Pits.

Blair Hull: Getting the Edge.

THE PSYCHOLOGY OF TRADING.

Zen and the Art of Trading.

Charles Faulkner: The Mind of an Achiever.

CLOSING BELL.

A Personal Reflection.

Appendix.

Glossary.

O autorze

Jack Schwager is a recognized industry expert on futures and hedge funds and the author of the widely acclaimed Market Wizards and Schwager on Futures book series and Market Sense and Nonsense. He is currently the co–portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. Previously, Mr. Schwager was a partner in the Fortune Group, a London–based hedge fund advisory firm, which specialized in creating customized hedge fund portfolios for institutional clients, and also spent over twenty years as a director of futures research for some of Wall Street′s leading firms.

Blurb

Praise for The New Market Wizards

"Jack Schwager simply writes the best books about trading I′ve ever read. These interviews always give me a lot to think about. If you like learning about traders and trading, you′ll find that reading this book is time well spent."
Richard Dennis, President, The Dennis Trading Group, Inc.

"Jack Schwager′s deep knowledge of the markets and his extensive network of personal contacts throughout the industry have set him apart as the definitive market chronicler of our age."
Ed Seykota

"Very interesting indeed!"
John Train, author of The Money Masters

"Successful trading demands longtime experience because it requires firsthand knowledge. If there is a shortcut to this requirement, however, it is in reading about the experiences of others. Jack Schwager′s book provides that shortcut. If you find yourself sweating upon occasion as you read, then you′re as close to the trading experience as you can get without actually doing it yourself."
Robert R. Prechter, Jr., Editor, The Elliott Wave Theorist

"Are great traders born or do they acquire their skills on the way up? . . . The New Market Wizards provides some interesting insights."
The Wall Street Journal

"Provides unique insight into the arcane world of currency trading as well as other fast–moving markets such as options and commodities."
U.S. News & World Report

"Should be required reading for anyone who selects managers for institutional or even personal portfolios."
Futures Industry