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Market Wizards: Interviews with Top Traders

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4.18  ·  Rating details ·  4,779 Ratings  ·  103 Reviews
THE INVESTMENT CLASSIC

"I've read Market Wizards at several stages of my career as it shows the staying power of good down-to-earth wisdoms of true practitioners with skin in the game. This is the central document showing the heuristics that real-life traders use to manage their affairs, how people who do rather than talk have done things. Twenty years from now, it will sti
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Hardcover, 458 pages
Published February 1st 2006 by Marketplace Books (first published January 1st 1900)
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George Jankovic
Feb 28, 2016 rated it it was amazing  ·  review of another edition
This is a re-read of one of my top 10 investment books.

What do Bruce Kovner, Paul Tudor Jones and Jim Rogers have in common? They are some of the best investors of all time and they are among the hedge fund managers interviewed in this book. Imagine top investors explaining what they do! Well, that's what you get in here. Some of them give you more details, others less, but you still can learn a lot.

Most of these guys invest not only in equities, but also in currencies, commodities etc. as "ma
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Omar Halabieh
Jul 24, 2011 rated it it was amazing  ·  review of another edition
As the title indicates this book consists of a series of interviews with some of the best most successful traders in the world.

Not only does this book cover a wide variety of trading techniques, it also covers a wide variety of markets as well (treasuries, futures, commodities etc.). The book also sheds light on the personal traits and characteristics of successful traders. By reading the different interviews one starts to see the commonalities but also the differentiators between them. It is ve
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Jeff
May 27, 2014 rated it liked it  ·  review of another edition
This book was as interesting from the standpoint of character studies as it was from the subject matter of successful trading of financial instruments.
The summations at the end of the interviews were as valuable as the interviews themselves.
It is clear that no matter how spectacular and consistent the success of any of these traders, they all approach their mutual fascination from the standpoint that they are a work in progress, and that no one masters the market, any more than a surfer masters
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Chas Tomac
The book covers 17 different traders who share their successes and failure's encountered. Most started with very little capital and were able to build a successful trading mentality by developing a discipline that worked for them during certain market environments. Each trader has fundamental trading rules that are followed in a very strict sense. Some believe you must be disciplined and consistent others wait for price movement before trading than use fundamentals to make trades, still others s ...more
Terry Koressel
Market Wizards is a collection of interviews conducted by Jack Schwager, an excellent and knowledgeable investor himself. The subjects of the interviews are some of the best traders in the U.S...all hugely successful and consistent winners. The interviews were not designed to highlight specific trading techniques....at least not to the extent of instructional. The most valuable feature of the interviews was the common patterns in thinking found amongst these traders. For example, viewing trading ...more
Terry Kim
Aug 09, 2015 rated it it was amazing  ·  review of another edition
Probably the best book I've read on the Markets so far. I got so much out of this book, in a much deeper philosophical sense rather than actual techniques these traders employ.

If you're like me, who doesn't have friends that are serious Traders or Investors, let alone Legendary Status Traders as per the Market Wizards interviewed in this book, this book is the closest thing to meeting your life changing mentor. Plenty of different styles these millionaires use, different views to the market and
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Stephen Thomas
Oct 26, 2014 rated it it was amazing  ·  review of another edition
A must read for aspiring traders I think.
This book opened my eyes on how professionals think, and trade.
Nowdays people want to learn from forumes and youtube videos from the so-called "gurus" or "High impact members" etc. And this couldnt be farther from the truth.
After reading this book I decided that I wont hang on those crappy forums anymore, but I will read more intellectual material such as this book.

Thank you Mr. Schwager!
Tim O'Hearn
It really didn't do anything for me. The majority of the traders gave very dry and mostly-uninteresting responses. Despite Schwager's desperate attempts to paint colorful bios and make the traders more memorable, you're essentially reading the same thing over and over again. It's so repetitive that I'd recommend flipping to the afterword and memorizing the points in summary. Then, look up each trader and pick the ones that most interest you.
Cario Lam
This is not a how-to book rather it offers insights into what has made some of the most successful traders in the financial markets that way. The bottom line is there is only work, work and work. Also a little focus wouldn't hurt either. Despite what is portrayed in the popular media the traders interviewed in the book do not have expensive Ivy League educations for the most part.
Kacper
Jan 14, 2015 rated it really liked it  ·  review of another edition
This book is a collection of interviews! There are some real characters in this book including the guy who divorced his wife because she wanted a TV and a sofa but he refused because he wanted to invest that money!
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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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“Another way to determine the direction of the general market is to focus on how the leading stocks are performing. If the stocks that have been leading the bull market start breaking down, that is a major sign the market has topped. Another important factor to watch is the Federal Reserve discount rate. Usually, after the Fed raises the rate two or three times, the market runs into trouble.” 1 likes
“If you don’t stay with your winners, you are not going to be able to pay for the losers.” 1 likes
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