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Hedge Fund Market Wizards

4.36 of 5 stars 4.36  ·  rating details  ·  527 ratings  ·  27 reviews
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 who've consistently beaten the markets. Exploring what makes a great trader a great trader, "Hedge
ebook, 544 pages
Published April 25th 2012 by Wiley (first published January 1st 2012)
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(showing 1-30 of 1,114)
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This is excellent; the best one yet in the series. Following are notes from the various interviews -- simply what I picked up as relevant on this round of reading, not indicative necessarily of what is most generally important or essential. The top three interviews to me were probably Ray Dalio (Bridgewater), Joel Greenblatt (Gotham) and Jamie Mai (Cornwall). I liked many of the others too. A few -- e.g. Jimmy Balodimas, Jeff Woodriff, Edward Thorp -- felt less relevant as their style is beyond ...more
Greg Barabas
One of the best book with interviews with top hedge fund managers, absolute stars in achieving extraordinary results over many years. There are many histories, anecdotes and advice and lessons you can learn from those wizards, the most important ones in my opinion are the following:

- Find a niche you can specialize in that fits your personality.

- Trade within your comfort zone but try to expand it constantly.

- Be flexible and open to new information and ideas and have courage to change your mind
Andrew Tollemache
Most books about trading are total garbage, you can troll through B&N or this bootleg Russkie site I know with tons of trading books and find only a handful of worthy reads. That's what makes Jack Schwager unique. In the last 25 years he has written 4-5 solid books on trading and traders that thru a series of interviews with traders of all pedigrees he uncovers all types of useful insights and outlooks. "Hedge Fund Market Wizards" is no different. Once again I found myself reading chapters h ...more
Este libro es una colección de entrevistas a un grupo de selectos gestores de Hedge Fund. Algunos de ellos son verdaderos gigantes, como Thorp, Greenblatt o Dalio. El resto no son tan famosos. El autor intenta hacer un esbozo de las estrategias de cada uno de ellos, que son verdaderamente heterogéneas, aunque desde luego hay mucho más trader que inversor en el libro, quizá porque debe ser más excitante para el lector. El libro para mi es un poco una decepción, puesto que el proceso de una gran p ...more
Carl HT
Hedge Fund Market Wizards has some of the most interesting interviews I have come across - most notably Jamie Mai, Michael Platt, Colm O'Shea, Scott Ramsay and of course Ray Dalio. If one were to optimize the read I would select those chapters.

The interview with Jamie Mai is of particular interest to me because I also trade a long volatility book, not a tail risk fund, but one which buys vol when it's "cheap". One simple message sits with me, which I think is very timely, roughly: "the best ind
very well written and the writer is a wonderful interviewer. makes me believe that there are some very select people who can recognize patterns in the cacaphony of financial data and real world news and transform them into transaction-byte statements on reality. The traders interviewed all have long successful track records.

Nice takeaways: you should have a observable fact about the world or data that tells you that your macro views on the world are wrong. You have to be comfortable with your s
Leo Bharata
Finished this book once. A re-read is a must to capture its wisdom. Although this is not a book which explain how to execute a trade, the insights shared by many traders will be great input to trading
Keith Amberg
A good book although some of the more technical stuff was a little beyond me at this point. I did, however really enjoy the Ed Thorpe and Joel Greenblatt. I think if you're an active trader you'd like it even more than I did.
Great book not because it will teach you how to trade, rather it does you the thought process of some of the most respected traders. in fact O'Shea and Thorp (two of the better interviews) are the importance of finding your own style and not imitating someone else's. Dalio's interview is one of the best in regards to macro themes, in fact many of his predictions were spot on.

Must read simply for the great diversity of views and styles. Schwager had done a great job encapsulating the key points.
great. must read if interested in trading, esp. automated trading.
Not really useful if you are a fundamental investor.
Lyndon Antcliff
Real traders at the top of their field telling it all.
Nizami Shirinov
i really liked the booked. there are a lot of advice you can get from different hedge fund managers. they may not be your trading style, but you can adjust the way, it works for you.
Liked it, got some useful ideas out...but probably the biggest lesson it taught me is that, temperamentally, I'm just not a trader. The market contains a healthy dollop of irrationality, with idiots jumping in and out of positions, and I'd hate to have my daily job satisfaction wrapped up in that (it's bad enough managing my 401K money where I'm watching the returns on a quarterly or annual basis).
Alvin Lim
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 who've consistently beaten the markets. Exploring what makes a great trader a great trader, "Hedge
Brian Zheng
Jack Schwager came back with another great book for his 'wizards' series. Well edited, the book brought you to some very thoughtful interviews with a list of carefully selected outperforming managers, including more investors instead of just traders in his previous books. Five star book.
Wes Devauld
Jan 03, 2013 Wes Devauld rated it 5 of 5 stars  ·  review of another edition
Recommends it for: Anyone interested in Trading
Shelves: finance
Schwager has been getting better over time. His most recent Market Wizards book is amazing. The interviews are very well done, and the environment in which these guys work is mind boggling. I would recommend this book to anyone interested in trading.
Charles Chu
Although I can't get over the sinking feeling that one or more of the interviewees might just be fools that got lucky, the book was fantastic. I read it as an ebook and will be buying a paper copy to scribble over.
Andrew Brady
Good book, first of the market wizard books I have read. I enjoyed the interviews, which gave good insight to the individual traders though processes as they go through their trades.
David O'Neill
If you like the rest of the books in the series you'll like this more modern update. Should be on any traders reference bookshelf.
Julian Bu
not hugely relevant to how I invest, although the list of the 40 trading lessons in the back of the book can be helpful.
Simply brilliant! really awesome! comment that applies to all the series of market wizards from Schwager!
Rahman Rahimi
Awesome book for those who want to have a great start in financial market.
Steve Hall
The interview with Ray Dalio alone is worth the price of this book.
Really great book, very practical. Very interesting interviews.
Amazing Hedge Fund Overview
Axel marked it as to-read
Jul 30, 2015
Jacob Bernknopf
Jacob Bernknopf marked it as to-read
Jul 28, 2015
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Jack Schwager is a recognized industry expert in 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. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm, which special ...more
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“you have enough monkeys randomly striking keyboard keys (they have recently traded in their typewriters for PCs), one of them will eventually type Hamlet” 0 likes
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