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

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

Jack D. Schwager
4.5 out of 5 stars  See all reviews (40 customer reviews)
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Product Description

From Publishers Weekly

In these absorbing interviews with star performers in the financial markets, Schwager ( Market Wizards ) humanizes the mechanics and psychology behind billion-dollar daily world trading 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.
Copyright 1992 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Review

"Should be required reading for anyone who selects managers for institutional or even personal portfolios." -- --Futures Industry --This text refers to the Paperback edition.

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First Sentence
On the lecture tour following the completion of this book's prede , Market Wizards, certain questions came up with reliable frequency. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Back Cover
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Customer Reviews

40 Reviews
5 star:
 (26)
4 star:
 (10)
3 star:
 (2)
2 star:
 (2)
1 star:    (0)
 
 
 
 
 
Average Customer Review
4.5 out of 5 stars (40 customer reviews)
 
 
 
 
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1 of 1 people found the following review helpful
4.0 out of 5 stars Good book if you like to read interviews..., Mar 6 2004
By 
This review is from: New Market Wizards The (Paperback)
What is this book?

Jack D. Schwager interviewed some of the best traders in 1992 and compiled edited transcripts in this compelling book.

---------------------------

Who is interviewed?

From the currency market: Bill Lipschutz .

In Futures: Randy McKay, William Eckhardt, The Turtles, Monroe Trout and Al Weiss.

Various market times and fund managers: Stanley Druckenmiller, Richard Driehaus, Gil Blake and Victor Sperandeo.

Traders who play several markets: Tom Basso and Linda Bradford Raschke

"The Money Machines" such as: CRT (Chicago Research and Trading), Mark Ritchie, Joe Ritchie, Blair Hull and Jeff Yass.

Psyschology: Zen and the art of trading (person didn't want his name mentioned), Charles Faulkner, Robert Krausz.

---------------------------

I didn't recognize many of those names, probably because of these reasons:

* The book was written in 1992.
* I'm not into really into trading.

---------------------------

Nevertheless I think the book is a great learning experience. You won't learn how to trade from this book but it gives you insight into the trader's psyche. I like learning about people who have been successful, (think Leader's & Success page, of IBD) since I feel it motivates me to learn more and work harder towards reaching my goals.

My favorite chapter in this book is entitled "Closing Bell" and it is a recap of all lots of trading advice mentioned over and over by these trading experts. I feel reviewing this chapter over and over is worth the price of the book.

Reed Floren

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5.0 out of 5 stars Great Book - Must Read, May 20 2004
This review is from: New Market Wizards The (Paperback)
Great read. I've read this book so many times the pages are beginning to pull from the binding.

Great read.

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5.0 out of 5 stars Is Michael Lauer still in this edition?, April 18 2004
By A Customer
This review is from: New Market Wizards The (Paperback)
A great book and one that will teach you more about investing than most of the other so-called investment books that promise much and deliver little.

I'm not sure if Michael Lauer has been taken out of the book now. When I read his chapter I remember thinking he seemed a) extremely arrogant and b) extremely talented. Not sure what went wrong - maybe it was when he started trying to become a movie producer.

An essential book for any serious investor (or trader).

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