|
Synopsis:
What separates the world’s most successful investors from ordinary investors, and even the vast majority of professional fund managers?
In the third of the bestselling Market Wizard series, acclaimed trading expert Jack D. Schwager digs into the psyches, strategies, and true accounts from 12 legendary traders who survived the most dynamic bull market in U.S. stock history—as well as a collapse in commodity prices, dramatic failures in some of the world's leading hedge funds, the burst of the Internet bubble, and a fall into recession and the subsequent rumblings of recovery.
[Back to top]
Jacket Description:
FROM THE BACK COVER:
What separates the world’s most successful investors from ordinary investors, and even the vast majority of professional fund managers?
In the third of the bestselling Market Wizard series, acclaimed trading expert Jack D. Schwager digs into the psyches, strategies, and true accounts from 13 legendary traders who survived the most dynamic bull market in U.S. stock history—as well as a collapse in commodity prices, dramatic failures in some of the world's leading hedge funds, the burst of the Internet bubble, and a fall into recession and the subsequent rumblings of recovery.
What lessons can the average trader or investor learn from these exceptional traders?
In lively interviews with his all-star lineup, Schwager brings you true stories, invaluable market lessons, and the inside scoop on how to ride the bull, battle the bear, and still come out on top.
Jack Schwager serves as Investment Director at the Fortune Group, an alternative asset management firm, as well as lead portfolio manager for Fortune’s Managed Account Program. His bestselling books include Market Wizards, The New Market Wizards, and A Complete Guide to the Future Markets. His Schwager on Futures series includes Fundamental Analysis and Technical Analysis.
INSIDE FLAPS:
Wouldn’t you love to sit down with some of the world’s most successful investors and find out how they do it? Just how do they make millions of dollars a year—or even in hours? And how do they come back from just as colossal losses?
Market expert Jack D. Schwager dialogues with some of the industry’s most successful traders, including:
Mark Minervini—a junior high school dropout who averaged a 220 percent annual return in five years, while keeping his maximum quarterly loss to a fraction of one percent
Mark Cook—a Midwestern farmer who registered back-to-back annual gains of 563 and 322 percent in national trading contests
Steve Lescarbeau—whose computerized trading model earns him an average of 70 percent per year with an incredibly low drawdown of only 3 percent
Schwager asks the questions we all want to know—then pulls all the answers together, distilling essential advice and insights from 12 super-traders into a list of 64 invaluable market lessons for both novices and market professionals alike.
ABOUT THE AUTHOR:
Jack Schwager serves as Investment Director at the Fortune Group and is the lead portfolio manager for Fortune’s Managed Account Program, a 100% transparent portfolio of managed accounts in alternative strategies. 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. His bestselling books include Market Wizards, The New Market Wizards, and A Complete Guide to the Future Markets.
AUTHOR’S NOTE:
The interviews for this book were conducted from mid-1999 through early 2000—in other words, just before the major top in the stock market (March 2000). Since then, the S&P 500 has been nearly halved, while the NASDAQ has lost nearly three-quarters of its value (as of the end of September 2002). Thus readers of these interviews are likely to think: “Yes, but how have they done lately?” Fair question. In this revised edition, detailed answers to this question have been provided at the end of each chapter, along with short follow-up interviews focusing on the experience of the traders during this protracted bear market.
[Back to top]
Table of Contents:
Acknowledgments
Prologue: An Inauspicious Beginning
Stuart Walton:
Back from the Abyss
Steve Watson:
Dialing for Dollars
Dana Galante:
Against the Current
Mark D. Cook:
Harvesting S & P Profits
Alphonse “Buddy” Fletcher, Jr.:
Win-Win Investing
Ahmet Okumus:
From Istanbul to Wall Street Bull
Mark Minervini:
Stock Around the Clock
Steve Lescarbeau:
The Ultimate Trading System
Michael Masters:
Swimming Through the Markets
John Bender:
Questioning the Obvious
David Shaw:
The Quantitative Edge
Steve Cohen:
The Trading Room
Ari Kiev, M.D.:
The Mind of a Winner
Wizard Lessons
Appendix: Options—Understanding the Basics
Index
[Back to top]
|
(0 reviews)
