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

توضیحات

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


Jack Schwager is a managing director and principal of The Fortune Group, an alternative asset management firm regulated in the UK and the United States. Schwager is the Senior Portfolio manager for Fortune's Market Wizards Funds of Funds, a broadly diversified series of institutional hedge fund portfolios. He also serves on the board of Fortune's research affiliate Global Fund Analysis, a leading source of independent hedge fund research. His prior experience includes 22 years as the director of futures research for some of Wall Street's leading firms and 10 years as the co-principal of a commodity trading advisory firm.

Mr. Schwager is perhaps best known as the author of the best-selling Market Wizards (1989), and the equally popular The New Market Wizards (1992). A third volume in this series, Stock Market Wizards, published by HarperCollins, was released in early 2001. Mr. Schwager's first book, A Complete Guide to the Futures Markets, which was published in 1984, is considered to be one of the classic reference works in the field. More than a decade later he revised and expanded this original work into the three-volume series, Schwager on Futures, consisting of the following titles: Fundamental Analysis (1995), Technical Analysis (1996), and Managed Trading: Myths and Truths (1996). He is also the author of Getting Started in Technical Analysis (1999), which is part of John Wiley's popular "Getting Started" series.

Mr. Schwager is a frequent seminar speaker and has lectured on a range of analytical topics with particular focus on the characteristics of great traders, hedge fund investment, performance measurement, technical analysis, and trading system evaluation. He holds a B.A. in Economics from Brooklyn College and an M.A. in Economics from Brown University.

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.