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Zurich Axioms
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The 12 major and 16 minor Zurich Axioms contained in this work are a set of principles providing a practical philosophy for the realistic management of risk, which can be followed successfully by anyone, not merely the experts.
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Paperback
Published
September 17th 1992
by Souvenir Press
(first published 1985)
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Of course, everyone wants to get rich. Who doesn't?
This book contains a bunch of 'axioms' or maxims on risk management (aka speculation). I first read this book 17 years ago. In my 17+ years of experience as an investor and casual punter, I've relied on books, experience, and several sleepless nights to get to where I am today. I read this book again. I can say I'm glad I read it before starting out as an investor. And I'm glad I read it again. You bet I will read it again. And again.
For anyone ...more
This book contains a bunch of 'axioms' or maxims on risk management (aka speculation). I first read this book 17 years ago. In my 17+ years of experience as an investor and casual punter, I've relied on books, experience, and several sleepless nights to get to where I am today. I read this book again. I can say I'm glad I read it before starting out as an investor. And I'm glad I read it again. You bet I will read it again. And again.
For anyone ...more
A book based on a flimsy premise and hence, appealing to the masses.
Its a very engaging writing style and full of lessons - axioms - for how to grow wealth and blah blah.
It is for a novice trader or investor who invests without much diligence.
Stuff about not diversifying too much, no charting, how to bet heavily but not too heavily, etc.
Its a very engaging writing style and full of lessons - axioms - for how to grow wealth and blah blah.
It is for a novice trader or investor who invests without much diligence.
Stuff about not diversifying too much, no charting, how to bet heavily but not too heavily, etc.
The only reason I read this book is because one friend quoted a line from this book from memory. I thought it was impressive.
However, I totally forgot I can’t read books with millions of anecdotal evidence. For people like me, I suggest to just take note on the major and minor axioms. Those are descriptive enough.
However, I totally forgot I can’t read books with millions of anecdotal evidence. For people like me, I suggest to just take note on the major and minor axioms. Those are descriptive enough.
Good principles for most Axioms.
Don't agree with all of them.
The First Major Axiom: ON RISK
Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough.
- Minor Axiom I: Always play for meaningful stakes.
- Minor Axiom II: Resist the allure of diversification.
The Second Major Axiom: ON GREED
Always take your profit too soon.
- Minor Axiom III: Decide in advance what gain you want from a venture, and when you get it, get out.
The Third Major Axiom: ON HOPE
When the s ...more
Don't agree with all of them.
The First Major Axiom: ON RISK
Worry is not a sickness but a sign of health. If you are not worried, you are not risking enough.
- Minor Axiom I: Always play for meaningful stakes.
- Minor Axiom II: Resist the allure of diversification.
The Second Major Axiom: ON GREED
Always take your profit too soon.
- Minor Axiom III: Decide in advance what gain you want from a venture, and when you get it, get out.
The Third Major Axiom: ON HOPE
When the s ...more
There are some sound points, but mostly many ideas are wrong and could be risky indeed if following them. At the start, the book argues there is no difference in investment and speculation and gamble which I have to fundamentally disagree. Investment is about managing your risk. Speculation and gamble is about playing luck. When the author mixes the two, investment is like gamble.
Well, where do I start? Intrigued by the relevance of the axioms laid down by the Swiss for speculating in various asset classes.
The book is broadly divided into 12 axioms, which are thumb rules and many other sub -axioms that support these.Read together, they form the basis for evaluating speculative opportunities across various asset classes. While most of these are common sensical, the beauty in these axioms lie in the staggered explanation that Max Gunther gets into. You will face most, if ...more
The book is broadly divided into 12 axioms, which are thumb rules and many other sub -axioms that support these.Read together, they form the basis for evaluating speculative opportunities across various asset classes. While most of these are common sensical, the beauty in these axioms lie in the staggered explanation that Max Gunther gets into. You will face most, if ...more
Good to brush up on the basics of risk taking and avoidance, role of luck vs. skill, and a few other principles. Though I might not agree with all the axioms, but definitely a good read.
Every investor/speculator should be introduced to these axioms at an early stage.
5th,6th and 10th major axioms offer insights which should be remebered throughout one's investing journey. ...more
5th,6th and 10th major axioms offer insights which should be remebered throughout one's investing journey. ...more
This was a tough read for me, since most axioms go against my (and most people I admire) investment philosophies. Mainly, Gunther recommends the following: don’t diversify (Axiom 1), don’t hold positions for the long term, but rather sell once you’re satisfied with your gains (Axiom 2), sale assets as soon as prices start falling (Axiom 3), etc... Imagine following Axiom #3 this year in March and missing out on the sharp market recovery or imagine following #2 and selling Amazon late 1990’s afte
...more
It is the second time o read this book. The first time was more than 15 years ago and I really liked, however this time I loved. The book is simple, but provide you the best insights that you can have to develop a good especulativa behavior, in other word to pursue money and profits. I fully recommend it to everyone.
A few interesting points, but could be better...
Impressively enlightening. But some Axioms could be misinterpreted if the reader lacks some experience and other readings to build a base.
At its core this is a book containing 12 rules – or axioms - for speculation in financial markets in the same vein as previous learning’s about risk, reward and human behavior that have been passed on by the likes of Jesse Livermore, Gerald Loeb and Bernard Baruch, i.e. the notorious financial speculators of the early part of the twentieth century. It is the investment philosophy of a former group of Swiss bankers.
The Zurich Axioms also comes with a quite fascinating background story. Max Gunte ...more
The Zurich Axioms also comes with a quite fascinating background story. Max Gunte ...more
The “Zurich Axioms” are a good set of guidestones on investing, less axiom, and more dictums, these statements mostly focus on when to take profit, how to be a keen contrarian, and most importantly, how to govern your own decision-making to ensure you’re not being overly optimistic (or pessimistic). There are 12 major axioms and 16 minor ones. To be honest, I didn’t perceive much substantive difference to explain why a statement fell into “major” or “minor”, except that the author choose to orga
...more
A very interesting take on money management problem.
Clear and inspiring, however not to be taken for granted. Well-recommended to anyone who is still searching for a personal financing strategy and wants to evaluate various angles. Tackles some of the key components related to money management:
1. worry - a sign of health; 2. greed - cashing out too soon; 3. hope -jumping immediately from the sinking ship; 4. forecasts - counting in inability to predict future; 5. patterns - how dangerous if it i ...more
Clear and inspiring, however not to be taken for granted. Well-recommended to anyone who is still searching for a personal financing strategy and wants to evaluate various angles. Tackles some of the key components related to money management:
1. worry - a sign of health; 2. greed - cashing out too soon; 3. hope -jumping immediately from the sinking ship; 4. forecasts - counting in inability to predict future; 5. patterns - how dangerous if it i ...more
The book 'Zurich Axioms' is about intelligent risk taking. The swiss are considered to be the best in the world at managing their risks and at the same time increasing their wealth. The book consists of 12 major rules (called axioms) and 16 minor axioms that helps one in managing risk.
I liked reading such bullet list kind of books. It makes you feel good that you have read so many number of rules and you feel like a wise person.
One crib for me is that this book doesn't consider investment. It ...more
I liked reading such bullet list kind of books. It makes you feel good that you have read so many number of rules and you feel like a wise person.
One crib for me is that this book doesn't consider investment. It ...more
A pretty good book for both novice and well acquitted traders. The Book mentions Axioms or rules followed by Swiss Bankers for making substantial profits and saving them from enlarging their losses on any kind of Investments. The book mentions many Axiom some of which on many parts I disagreed with too, But they did present a new perspective to my own Investing Ideologies. Reading this book also helped me to finally pen down the Investing rules that I want to follow. All in all a good one time r
...more
This is the kind of book that slaps you hard on the cheek, looks directly into your eyes and berates you for speculating/gambling the wrong way. I loved the characters and their financial misgivings, even the author admits to once believing in superstition but the axioms have have made him wiser. It spoke to my heart and I believe it can cleanse the soul of any would be speculator. To keep one on the straight and narrow where investing money is concerned.
Jul 14, 2020
Leonardo Figueiró
rated it
really liked it
·
review of another edition
Shelves:
non-fiction,
finance
There's a lot of people complaining about the fact that this is so simple, easy and shallow. Is not. Is simple,easy to understate and comprehend, but the majority of people, i include myself in that list, don't apply to their daily life and in their own financial planning.
So... Stop complaining, spend 2-3 hours reading the book and try to be more pro-active while deciding on how to manage your finances. ...more
So... Stop complaining, spend 2-3 hours reading the book and try to be more pro-active while deciding on how to manage your finances. ...more
Some interesting stuff (that you probably already know if you have any experience investing), and some very arguable ideas, too.
Pretty readable and somewhat short, though. The anecdotal evidence is entertaining, but like the book itself mentions, one should be careful when taking stories about investments or any kind of speculation, for a single failure or win might be just an illusion of logic, instead of a important principle.
Pretty readable and somewhat short, though. The anecdotal evidence is entertaining, but like the book itself mentions, one should be careful when taking stories about investments or any kind of speculation, for a single failure or win might be just an illusion of logic, instead of a important principle.
May 24, 2018
Kiril
rated it
it was amazing
·
review of another edition
Shelves:
worth-rereading,
trading-system
It is more like a 4.5 star, but I have it 5 because I think it doesn't deserve such low average rating.
The book is full of gems on luck, probability and other things from daily live, that you might be biased about. One minor remark is that it could have been 50 pages shorter with the same content. ...more
The book is full of gems on luck, probability and other things from daily live, that you might be biased about. One minor remark is that it could have been 50 pages shorter with the same content. ...more
It's no gospel, but it is subversive and so, me like.
It is probably based around what mistakes people do, following conventional wisdom in investment and speculation and what one can do to avoid it.
It is a good read, some important practical things to keep in mind while speculating are written.
Good book, thumbs up. ...more
It is probably based around what mistakes people do, following conventional wisdom in investment and speculation and what one can do to avoid it.
It is a good read, some important practical things to keep in mind while speculating are written.
Good book, thumbs up. ...more
Unmissable. Simple to understand and follow.
Unmissable. Simple to understand and follow.
The major and minor Axioms can be collected at one place and reviewed everyday for reinforcement.
Unmissable. Simple to understand and follow.
The major and minor Axioms can be collected at one place and reviewed everyday for reinforcement.
Great advice. Evey axiom has wisdom that you may not gain elsewhere or even if you have the opportunity to learn them by your own, each one may cost you more than if you have read this.
For me it did not add much new, since I've been living by most of these axioms already. ...more
For me it did not add much new, since I've been living by most of these axioms already. ...more
-“I’m keeping giraffes away”, the fellow explains. “But we’ve never had any giraffes around here”, says the cop. “Doing a good job ain’t I?” says the fellow.
-Cogito, ergo sum – “I think, therefore I am.”
-Cogito, ergo sum – “I think, therefore I am.”
The book make you think about speculation in a rational way. As being rational is the number one requirement for an investor, the book is a must for everyone who seeks to understand some behavioral traps and work on it effectively.
A Very compact book that emphasizes the most important ideias behind long-term investments and the importance to take risks in a intelligent way. Most billionaires talk about this book and it indeed go in the opposite of many mainstream recommendations. A must read.
Blantly written
Some greedy life philosophy
Contains some sound advice and some heavily opiniated as well but this is not bad at all.
Take it for what it is.. In general recommend (only) if you are into investing.
Some greedy life philosophy
Contains some sound advice and some heavily opiniated as well but this is not bad at all.
Take it for what it is.. In general recommend (only) if you are into investing.
Excellent book especially people who invests in stock markets
This books is recommended read for everyone who is involved in some kind of speculative activity like stock market, commodity market, etc where luck or uncertainty plays big role in outcomes.
This books is recommended read for everyone who is involved in some kind of speculative activity like stock market, commodity market, etc where luck or uncertainty plays big role in outcomes.
The smartest people I know think for themselves before they ask others. Zurich Axioms is a set of rational advice for how to think about investment opportunities and bulld your own speculating confidence.
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Max Gunther was an Anglo-American journalist and writer. He was the author of 26 books, including his investment best-seller, The Zurich Axioms.
Born in England, Gunther moved to the United States at age of 11 after his father, Franz Heinrich became the manager of the New York branch of a leading Swiss bank, SBC.
Gunther graduated from Princeton University in 1949 and served in the United States Ar ...more
Born in England, Gunther moved to the United States at age of 11 after his father, Franz Heinrich became the manager of the New York branch of a leading Swiss bank, SBC.
Gunther graduated from Princeton University in 1949 and served in the United States Ar ...more
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