Trader Vic--Methods of a Wall Street Master Paperback – Aug 26 1993
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From Library Journal
By definition, investors' horizons are long-term (years) and traders' are short-term. This book is aimed at the latter, obviously limiting the scope of its applicability. Noted investment manager Sperandeo explains how he traces stocks and commodities using trends, Dow Theory, Fed-watching, stop-losses, charts, and the panoply of technical analysis combined with his own wrinkles. His chief antagonists are program traders (who move billions likewise in the short-term) and the whims of the market. In the second half, Sperandeo explores the psychology of trading and the use and importance of emotional discipline. He also stresses personal success, not just financial, and presents a solid condensed explanation of real economics, scathingly destroying the wishful-thinking economics of academics and politicians. First half fascinating + second half instructive = a buy for business collections.
- Alex Wenner, Indiana Univ. Libs., Bloomington
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
From the Back Cover
Trader Vic — Methods of a Wall Street Master
"Investment strategies from the man Barron's calls "The Ultimate Wall Street Pro" Victor Sperandeo is gifted with one of the finest minds I know. No wonder he's compiled such an amazing record of success as a money manager. Every investor can benefit from the wisdom he offers in his new book. Don't miss it!"
—Paul Tudor Jones, Tudor Investment Corporation
"Here's a simple review in three steps: 1. Buy this book! 2. Read this book! 3. See step 2. For those who can't take a hint, Victor Sperandeo with T. Sullivan Brown has written a gem, a book of value for everyone in the markets, whether egghead, novice or seasoned speculator."
—John Sweeney, Technical Analysis of Stocks and Commodities
"Get Trader Vic-Methods of a Wall Street Master by Victor Sperandeo, read it over and over and you’ll never have a losing year again."
—Yale Hirsch, Smart Money
"I have followed Victor Sperandeo's advice for ten years, and the results have been outstanding. This book is a must for any serious investor."
—James J. Hayes, Vice President, Investments Prudential Securities Inc.
"This book covers all the important aspects of making money and integrates them into a unifying philosophy that includes economics, Federal Reserve policy, trading methods, risk, psychology, and more. It’s a philosophy everyone should understand."
—T. Boone Pickens, General Partner Mesa Limited Partnership
"This book gave me a wealth of new insights into trading. Whether you’re a short-term trader or a long-term investor, you will improve your performance by following Sperandeo’s precepts."
—Louis I. Margolis, Managing Director, Salomon Brothers, Inc.
Top Customer Reviews
I am well aware of all the solid reviews on this book, so I keep thinking I've missed something in my reading. I gave the book 2 stars for content, 3 because it was [cost effective]. It is definitely well written by someone who has quite a track record in trading. The one chapter on Dow Theory, 2B, trendlines and trend reversals was the only one worth mentioning. The rest of the book is lengthy filler material. Some good, some bad, mostly "average".
me to this book. I read it and I learned many
things from it. The main topics in this book
include: Preservation of capital, consistent
profitability, technical analysis and trading
rules, etc. Trader Vic also talked about
macroeconomics and how it affects the stock
One doesn't have to agree on everything trader
Vic said in his book. And I personally believe
that the writing style could be better. The
outstanding points in this book are Mr.
Sperandeo's great insights about trading and
his very practical real-world trading strategies.
This is a book every trader should read.
Rating: 4 ½ Stars
I've read most books on trading and this one is neither exceptional nor terrible. Take from it what you will and apply it to your own knowledge.
His reasons for writing the book it seems is frustration with the image the world has of traders in which the unsung career pro goes unnoticed. Whatever his reasons are it is a privilege to gain an insight into the mind and methodology of a New Market Wizard.
His methods are a mixture of fundamental and technical analysis. He uses economics as a forecasting tool and says that cycle analysis actually just gets in the way. If you can understand the fundamentals of economics you can interpret government intervention in the market and profit from it.University taught economics is useless for this. All booms and busts are a result of credit expansion in an effort to lower interest rates, whereas Keynesian economics attempts to use interventionalist policy to smooth out the peaks and troughs but in fact is the predominant cause. Surplus production, savings and innovation create wealth as much for the individual as the economy on the whole. Wealth is actually consumed by government created prosperity via deficit spending.Read more ›
His observations on treating trading like a business are golden. The three principles (I won’t divulge them here because you really need to buy this book if you haven’t read it), are elegant and to the point. They are the cornerstone of my trading philosophy and methodology.
Sperandeo’s explanation of trends is clear and succinct, and he cuts through many misconceptions of how to draw a trendline. His 1, 2, 3 method for determining a change in trend is simple and useful- so simple and useful, in fact, that it has been co-opted, doctored up and flogged to death by a certain get rich quick huckster (many of this huckster's faithful mistakenly think 123 tops and bottoms are his personal invention- as if ...).
The 2B is a powerful and useful tool, but one that needs to be used judiciously and in line with the overall trend from what I can see.Read more ›
Most recent customer reviews
I am fairly new to trading concepts and been reading a few books. This one, although published in 1999, is has fundamental value about Dow theory, how the market works and the... Read morePublished 14 months ago by George Privett
This book was a good read. Its not the smoothest read if its your first book on investing, but its worth slugging it through. Read morePublished on May 6 2014 by james
Over the last two years I have read over 20 books focusing upon trading. This ranks only second to lefevre's Reminiscences of a stock Operator. Read morePublished on Feb. 27 2003 by i s richley
I am an equities trader and I have read over 20,000 pages about investing in the stock market, fundamental and technical analysis, and many related topics. Read morePublished on Nov. 1 2002 by Gregg Killpack
I like this book because Trader Vic really lets you into his head. He gives you a bird's eye view of the trading world, some of his strategies, trials and tribulations, and market... Read morePublished on July 24 2002
This sums it all up. Vic presents a thoughtful methodology for capital preservation. Violate his rules at your own risk.Published on June 11 2002 by nycbookreader