Hedge Fund Market Wizards: How Winning Traders Win by Jack D. Schwager (English)

Description: Hedge Fund Market Wizards by Jack D. Schwager, Ed Seykota Fascinating insights into the hedge fund traders who consistently outperform the markets, in their own words From bestselling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from fifteen traders whove consistently beaten the markets. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description Fascinating insights into the hedge fund traders who consistently outperform the markets, in their own words From bestselling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from fifteen traders whove consistently beaten the markets. Exploring what makes a great trader a great trader, Hedge Fund Market Wizards breaks new ground, giving readers rare insight into the trading philosophy and successful methods employed by some of the most profitable individuals in the hedge fund business. Presents exclusive interviews with fifteen of the most successful hedge fund traders and what theyve learned over the course of their careersIncludes interviews with Jamie Mai, Joel Greenblatt, Michael Platt, Ray Dalio, Colm OShea, Ed Thorp, and many moreExplains forty key lessons for tradersJoins Stock Market Wizards, New Market Wizards, and Market Wizards as the fourth installment of investment guru Jack Schwagers acclaimed bestselling series of interviews with stock market experts A candid assessment of each traders successes and failures, in their own words, the book shows readers what they can learn from each, and also outlines forty essential lessons—from finding a trading method that fits an investors personality to learning to appreciate the value of diversification—that investment professionals everywhere can apply in their own careers. Bringing together the wisdom of the true masters of the markets, Hedge Fund Market Wizards is a collection of timeless insights into what it takes to trade in the hedge fund world. Back Cover Praise for HEDGE FUND MARKET WIZARDS "Traders regularly use passages and chapters from Schwagers books as a reference for their own methods and to guide their own trading. His work is an inseparable part of the consciousness and language of trading itself. Schwagers books are essential reading for anyone who trades, wants to trade, or wants to pick a trader."--From the Foreword by Ed Seykota "Jack Schwager is the eras premier chronicler of financial talent. When historians look back at this mad time and wonder who the key players were, they will turn to Schwagers books." -- Robert R. Prechter, Jr. , Editor, The Elliott Wave Theorist "Hedge funds have evolved into a market force, and the timing of Hedge Fund Market Wizards is as valuable as the lessons it contains. Jacks book excels in knowledge and insight, rather than specific rules that are short-lived. Among the gems are mistakes are the catalyst for improvement, stable returns are suspicious, and you cant succeed without embracing the risk inherent to your trading style. As you would expect, the book is masterful." -- Perry J. Kaufman , Managing Director, Kaufman Analytics, Ltd., and author of New Trading Systems and Methods "Great traders are almost always fascinating human beings. Jack Schwager is the perfect interviewer, equally adept at eliciting life stories and professional secrets. A must-read." -- William Poundstone , author of Fortunes Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street Flap Praise for HEDGE FUND MARKET WIZARDS "Traders regularly use passages and chapters from Schwagers books as a reference for their own methods and to guide their own trading. His work is an inseparable part of the consciousness and language of trading itself. Schwagers books are essential reading for anyone who trades, wants to trade, or wants to pick a trader."--From the Foreword by Ed Seykota "Jack Schwager is the eras premier chronicler of financial talent. When historians look back at this mad time and wonder who the key players were, they will turn to Schwagers books." -- Robert R. Prechter, Jr. , Editor, The Elliott Wave Theorist "Hedge funds have evolved into a market force, and the timing of Hedge Fund Market Wizards is as valuable as the lessons it contains. Jacks book excels in knowledge and insight, rather than specific rules that are short-lived. Among the gems are mistakes are the catalyst for improvement, stable returns are suspicious, and you cant succeed without embracing the risk inherent to your trading style. As you would expect, the book is masterful." -- Perry J. Kaufman , Managing Director, Kaufman Analytics, Ltd., and author of New Trading Systems and Methods "Great traders are almost always fascinating human beings. Jack Schwager is the perfect interviewer, equally adept at eliciting life stories and professional secrets. A must-read." -- William Poundstone , author of Fortunes Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street Author Biography JACK D. SCHWAGER is a recognized industry expert on futures and hedge funds, and the author of a number of widely acclaimed financial books. He is currently the co–portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to MarkeTopper Securities, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm that specialized in creating customized hedge fund portfolios for institutional clients. His prior experience also includes over twenty years as a director of futures research for some of Wall Streets leading firms. Table of Contents Foreword ix Preface xiii Acknowledgments xvii Part One Macro Men 1 Chapter 1 Colm OShea: Knowing When Its Raining 3 Chapter 2 Ray Dalio: The Man Who Loves Mistakes 47 Chapter 3 Larry Benedict: Beyond Three Strikes 77 Chapter 4 Scott Ramsey: Low-Risk Futures Trader 103 Chapter 5 Jaffray Woodriff: The Third Way 129 Part Two Multistrategy Players 159 Chapter 6 Edward Thorp: The Innovator 161 Chapter 7 Jamie Mai: Seeking Asymmetry 223 Chapter 8 Michael Platt: The Art and Science of Risk Control 261 Part Three Equity Traders 285 Chapter 9 Steve Clark: Do More of What Works and Less of What Doesnt 287 Chapter 10 Martin Taylor: The Tsar Has No Clothes 323 Chapter 11 Tom Claugus: A Change of Plans 359 Chapter 12 Joe Vidich: Harvesting Losses 385 Chapter 13 Kevin Daly: Who Is Warren Buffett? 405 Chapter 14 Jimmy Balodimas: Stepping in Front of Freight Trains 423 Chapter 15 Joel Greenblatt: The Magic Formula 451 Conclusion 40 Market Wizard Lessons 489 Epilogue 507 Appendix A The Gain to Pain Ratio 513 Appendix B Options—Understanding the Basics 515 About the Author 519 Index 521 Review "A must-read for all would-be traders...while the books focus is clearly on trading and investing, there is more than enough human interest on offer for the general reader.... Like Schwagers other works...Hedge Fund Market Wizards looks set to become a classic." (Money Week, June 2012) "Offers valuable guidance and timeless insights for both investment professionals and market enthusiasts looking to improve their trading abilities by learning from the best." (trade2win.com, July 2012) "This book is destined to be a classic just like the others by Jack. But the latest goes one step further, these traders arent just at the top of their game, they have defined it. What can I say? This book was so good it almost made me want to get back into the game again!" —Paul Wilmott, mathematician and ex-hedge fund manager "Brilliant! Brilliant! Brilliant! Another book about true traders by a true trader. Jack Schwager has become the official author of traderdom for this and future generations. Not only does Hedge Fund Market Wizards deserve a spot in every respectable traders book collection, but the entire series should be read annually by both professional and aspiring traders. Timeless wisdom, priceless concepts!" —Peter Lewis Brandt, Futures Trader, Stableford Asset Management, and Author of Diary of a Professional Commodity Trader "I read Jack Schwagers first Market Wizards book when I was just starting out as in investor more than 20 years ago. It put into brilliant focus the importance of trading psychology and knowing thyself. His latest work is yet another masterpiece. It brings to light new concepts in the world of investing that apply to all investors in todays markets. Anyone who reads this work will immeasurably enrich themselves on many levels because trading is life and life is trading." —Dr. Chris Kacher, Founder of , and Author of Trade Like an ONeil Disciple Author Jack Schwager seems to have built his career on the market wizardry of others. Based on this fourth wizard book—interviews with 15 hedge-fund managers who recount their careers and strategies—Schwagers long experience with wizardry has served him well. Readers captivated by the hedge-fund mystique wont be disappointed. Readers looking for insight into exactly how successful hedge-fund managers achieve success will have plenty to chew over. Schwager attempts to boil down the interviews into 40 "Market Wizard Lessons." Examples: Value investing works. Position size can be more important than entry price. Sometimes its useful to do nothing. But the one that may ring truest is this: There is no Holy Grail in trading. What works for one may not work for another, or for you. Fortunately for us, theres a wide enough variety of portraiture in Hedge Fund Market Wizards that at least a few lessons should resonate. —Barrons.com "Determining how great traders acquire and use their special skills has been an elusive quest. We have no shortage of cookbooks on how to trade, but only a limited number of books describe the decision processes of those who speculate as a profession. Trader confessionals exist often as testimonies to egos, but few focus on the details of decision making. Material that does successfully capture the essence of how speculators think is the Market Wizards series by Jack D. Schwager…. Even in the interviews of well-known traders, Schwagers probing questions extract many new insights." —FAJ Book Review "Even in the interviews of well-known traders, Schwagers probing questions extract many new insights. The Ed Thorp interview, which is the longest, is almost worthy of a book in itself." —CFA Institute review Long Description Praise for HEDGE FUND MARKET WIZARDS "Traders regularly use passages and chapters from Schwagers books as a reference for their own methods and to guide their own trading. His work is an inseparable part of the consciousness and language of trading itself. Schwagers books are essential reading for anyone who trades, wants to trade, or wants to pick a trader."--From the Foreword by Ed Seykota "Jack Schwager is the eras premier chronicler of financial talent. When historians look back at this mad time and wonder who the key players were, they will turn to Schwagers books." -- Robert R. Prechter, Jr. , Editor, The Elliott Wave Theorist "Hedge funds have evolved into a market force, and the timing of Hedge Fund Market Wizards is as valuable as the lessons it contains. Jacks book excels in knowledge and insight, rather than specific rules that are short-lived. Among the gems are mistakes are the catalyst for improvement, stable returns are suspicious, and you cant succeed without embracing the risk inherent to your trading style. As you would expect, the book is masterful." -- Perry J. Kaufman , Managing Director, Kaufman Analytics, Ltd., and author of New Trading Systems and Methods "Great traders are almost always fascinating human beings. Jack Schwager is the perfect interviewer, equally adept at eliciting life stories and professional secrets. A must-read." -- William Poundstone , author of Fortunes Formula: The Untold Story of the Scientific Betting System That Beat the Casinos and Wall Street Review Text "A must-read for all would-be traders...while the books focus is clearly on trading and investing, there is more than enough human interest on offer for the general reader.... Like Schwagers other works...Hedge Fund Market Wizards looks set to become a classic." (Money Week, June 2012) "Offers valuable guidance and timeless insights for both investment professionals and market enthusiasts looking to improve their trading abilities by learning from the best." (trade2win.com, July 2012) "This book is destined to be a classic just like the others by Jack. But the latest goes one step further, these traders arent just at the top of their game, they have defined it. What can I say? This book was so good it almost made me want to get back into the game again!" ?Paul Wilmott, mathematician and ex-hedge fund manager "Brilliant! Brilliant! Brilliant! Another book about true traders by a true trader. Jack Schwager has become the official author of traderdom for this and future generations. Not only does Hedge Fund Market Wizards deserve a spot in every respectable trader?s book collection, but the entire series should be read annually by both professional and aspiring traders. Timeless wisdom, priceless concepts!" ?Peter Lewis Brandt, Futures Trader, Stableford Asset Management, and Author of Diary of a Professional Commodity Trader "I read Jack Schwagers first Market Wizards book when I was just starting out as in investor more than 20 years ago. It put into brilliant focus the importance of trading psychology and knowing thyself. His latest work is yet another masterpiece. It brings to light new concepts in the world of investing that apply to all investors in todays markets. Anyone who reads this work will immeasurably enrich themselves on many levels because trading is life and life is trading." ?Dr. Chris Kacher, Founder of , and Author of Trade Like an ONeil Disciple Author Jack Schwager seems to have built his career on the market wizardry of others. Based on this fourth wizard book?interviews with 15 hedge-fund managers who recount their careers and strategies?Schwagers long experience with wizardry has served him well. Readers captivated by the hedge-fund mystique wont be disappointed.Â Readers looking for insight into exactly how successful hedge-fund managers achieve success will have plenty to chew over. Schwager attempts to boil down the interviews into 40 "Market Wizard Lessons." Examples: Value investing works. Position size can be more important than entry price. Sometimes its useful to do nothing.Â But the one that may ring truest is this: There is no Holy Grail in trading. What works for one may not work for another, or for you. Fortunately for us, theres a wide enough variety of portraiture in Hedge Fund Market Wizards that at least a few lessons should resonate. ?Barrons.com ?Determining how great traders acquire and use their special skills has been an elusive quest. We have no shortage of cookbooks on how to trade, but only a limited number of books describe the decision processes of those who speculate as a profession. Trader confessionals exist often as testimonies to egos, but few focus on the details of decision making. Material that does successfully capture the essence of how speculators think is the Market Wizards series by Jack D. Schwager?. Even in the interviews of well-known traders, Schwager?s probing questions extract many new insights.? ?FAJ Book Review ?Even in the interviews of well-known traders, Schwager?s probing questions extract many new insights. The Ed Thorp interview, which is the longest, is almost worthy of a book in itself.? ?CFA Institute review Â Review Quote A must-read for all would-be traders…while the books focus is clearly on trading and investing, there is more than enough human interest on offer for the general reader…Like Schwagers other works…Hedge Fund Market Wizards looks set to become a classic. (Money Week, June 2012) Offers valuable guidance and timeless insights for both investment professionals and market enthusiasts looking to improve their trading abilities by learning from the best. (trade2win.com, July 2012) Details ISBN1118273044 Year 2012 ISBN-10 1118273044 ISBN-13 9781118273043 Format Hardcover DEWEY 332.632 Short Title HEDGE FUND MARKET WIZARDS Language English Media Book Pages 544 Subtitle How Winning Traders Win Edition 1st UK Release Date 2012-05-22 US Release Date 2012-05-22 NZ Release Date 2012-05-11 Author Ed Seykota Publisher John Wiley & Sons Inc Publication Date 2012-05-22 Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States Audience Professional & Vocational AU Release Date 2012-05-10 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:40737538;

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