on 2 November 2012
I have read all of Schwager's Market Wizards book and actually think this is the best. I would give the other 3 books 4/5 stars also but I found this one more relevant to the current state of the markets, indices, bonds, forex and commodities. I looked forward each evening to reading more and then got the audio version to listen again. You must know that I read about 50 trading books at least per year and 45 of them will be rubbish with 4 being worth finishing and occasionally a rare gem. The variety of traders interviewed gave the book a more 'statistical trading' or 'quantitative' feel which suits my trading style. I was blown away with the quality of the interviews and although all of the wizard book have been excellently pursued I found this one particularly insightful. So far it rates second in my trading library to Reminiscences of a Stock Operator and I do not say this lightly. I was left wanting more when it was finished and wondering more about the various talented, prodigious and interesting individuals we are all trying to emulate. Happy reading (or listening)
on 16 March 2014
The book is a series of interviews with particular hedge fund managers that have the absolute best track records. Most of whom ran funds with a quantitative or statistical flavour. Schwager knows the subjects well enough to ask the right questions. The interviews seem natural although I suspect there has been a moderate amount of editing to ensure readability.
In short the book is highly readable and shouldn't cause any problems if you already have a fair grounding in the markets. Some of the terminology or concepts will sound esoteric to newcomers but I wouldn't say that the language nor much of the content is particularly abstruse. This book will appeal to those who enjoy reading about markets and/ or hedge funds, particularly those hedge funds that have run "obscure" strategies (this is more advanced than 'simple' equity long / short methods).
Content wise I'd say I learnt a lot about how each of the managers think, so a lot of the content was new to me. There is a lot of ideas to learn here and I now have a lot of extra reading I want to do in order to find out more. I've already started to read up more on interest rates.
My favourites: Colm O'Shea, Ed Thorp, Jamie Mai.
on 9 January 2014
Almost all the guys he interviews have something useful you can get . Usually you can get one or two interesting ideas in a book an later the autor repeats itself, but with this book you will get many ideas and as the profiles of the managers interviewed differs at least a few will match your trading style.
I miss some recomendations of books to read or advisors to follow that in previous wizzards schawger request to the managers, it looks like they just read Schwager books :)
on 21 May 2013
For someone who has little knowledge of the world of high finance and the associated background, I inevitably found some concepts difficult to grasp, but all in all, the interviews with the different traders and Jack's analysis were very interesting.