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Stock Market Wizards: Interviews with America's Top Stock Traders

4.26  ·  Rating details ·  1,373 ratings  ·  39 reviews
The third in the bestselling Market Wizards series, this time focusing on the barometer of the economy - the stock market.

It has been nearly a decade since the publication of the highly successful The New Market Wizards. The interim has witnessed the most dynamic bull market in US stock history, a collapse in commodity prices, dramatic failures in some of the world′s leadi
Paperback, 352 pages
Published April 15th 2003 by Harper Business (first published January 1st 2001)
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Average rating 4.26  · 
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 ·  1,373 ratings  ·  39 reviews

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Jun 04, 2018 rated it really liked it
Shelves: 0-favorites
Schwager interviews and reviews the absolute top stock market traders providing a unique insight direct into the mindsets of the very best performers of this domain. Some traders interviewed in the book are very restrictive on disclosing their strategies due to the fear of losing the functioning of their carefully polished strategies when the masses start copying them, and I agree on that consideration. However, there are still many very useful hints and trading philosophies, behavior considerat ...more
Raphael de Ocampo
Nov 19, 2019 rated it really liked it
“There’s no definite path to success”

Schwager’s Stock Market Wizards echoes the idea that there is no singular path to being a successful trader. The fifteen interviewees, from quantitative traders to gut-feel corporate raiders, demonstrates the aforementioned idea nicely. That being said, Schwager states that there are fundamental qualities and habits which merit success in trading, or in any endeavor. After reading this book, I concur.
Jason Comely
Apr 24, 2020 rated it really liked it  ·  review of another edition
Shelves: reference, philosophy
Instructive, especially for a naive like me who has fumbled many lucrative deals and opportunities. Mastering trade in the markets requires self-cultivation (something I'm big on) and that's where the appeal is to me. That's where the real riches are. ...more
Sanford Chee
Dec 11, 2018 rated it really liked it
Steven A. Cohen: "If I am in the trade because of a catalyst, the first thing I check is whether the catalyst still applies."

"If you think you’re wrong, or if the market is moving against you and you don’t know why, take in half. You can always put it on again. If you do that twice, you’ve taken in three-quarters of your position. Then what’s left is no longer a big deal. The thing is to start moving your feet. I find that too many traders just stand there and let the truck roll over them. A com
Sep 25, 2014 marked it as next  ·  review of another edition
Shelves: investors
the last chapter, Wizard Lessons, alone is worth the price!
Ian Cassel
Jan 16, 2016 rated it it was amazing
Interviews with the best traders and investors.
John Richards
Feb 15, 2016 rated it it was amazing
Real stories for serious market participents
Jul 29, 2020 rated it really liked it
Shelves: 2020
One of the better books about trading. You will pretty much get 1-2 good tips from each interview. I actually was hesitant going into a book which is just interviews but it is actually an genius template for even other industries. Reading interviews of the best people in your field is just an amazing resource.

Some of the traders's returns sounded crazy unrealistic and I could not dig up anything about them in the internet which is weird but most of them have some articles or bloomberg about the
Dawei Liu
Mar 27, 2020 rated it liked it
A similar vibe to Market Wizards, this time entirely focused on stock traders. A lot of the individuals interviewed in this book are day traders with a few that are a bit longer term. Overall, some of them have views that are antithetical to my own, but still, quite interesting and relevant given how Schwager deliberately covers a wide swath of “strategies”. Again, his skill in getting interviewees to drop their guard and provide more interesting commentary is quite evident.

I hesitate to rate t
The fourth edition of the Market Wizard series offered some unique perspectives from a rather diverse pool of stock traders in the market. The diversity in this book, for the first time includes a successful female, an African American, a Turkish and Italian immigrant and a quant hedge fund money managers. Kudos to Schwager for his never-ending quest to educate the main-street about the Market through conversations with the professionals. However, only less than half a dozen of the case studies ...more
Mar 20, 2018 rated it really liked it
A delightful read!

Focuses on how there is no hard and fast rule for successful investment/trading other than having the right mentality, discipline and hard work.

The interviews included are not necessarily on how successful individuals have invested to teach the reader their methods but rather how important it is to build and evolve your own investment philosophies and not take things at face value (reports will tend to be biased / when an investor is being interviewed either most seem to have
Oct 24, 2021 rated it liked it  ·  review of another edition
Shelves: trading, finance
I am a fan of the Market Wizards series - but honestly if you have read the other ones (the original Market Wizards or Hedge Fund Market Wizards) then this one is worth a skip. Beyond the cliches and traditional lessons (hard work, loss management), the interviewees here do not really elaborate much and stick to the aforementioned topics. I was excited to read the interview with Shaw, but it was slightly disappointing. Which is kind of my feeling as a whole for the book.
Styron Powers
Jan 07, 2021 rated it it was amazing  ·  review of another edition
Excellent Summary of lessons From Top Stock Traders

Several interviews with some of America’s top stock traders. An opportunity to learn similar strong traits and divergent strategies. Highly recommend for any individual who wants to educate self about successfully investing in the stock market.
Sal Fernz
Aug 18, 2019 rated it it was amazing
First Market Wizards read in early 1990.
Peter Lange
Nov 01, 2019 rated it it was amazing
Very good and diversified book. However - readers should in my opinion keep in mind that there is a difference between investing in trading. This book is about trading but it does make this clear.
Sangam Agarwal
Feb 24, 2020 rated it really liked it  ·  review of another edition
Best book. It is like reading multiple biographies at the same time.
Gurmukh Sandhu
Jun 01, 2020 rated it really liked it
Full of useful nuggets on Trading process
Jul 23, 2020 rated it it was amazing
This is essential
Nov 01, 2020 rated it did not like it
it is quite weak compared the others. most of them dont say anything useful at all. only alphonse fletcher and john bender parts are interesting and useful otherwise it is a sham.
Nam KK
Aug 07, 2021 rated it liked it
There were a few gems I picked up when I was reading the book - just can't remember what they were. ...more
Greg Talbot
Aug 16, 2013 rated it it was amazing
If you lost $350,000 in trading, would you have what it takes to move back to the farm, and milk cows after your day job?
Well that's just what Mark Cook did, and his story while very unique and full of personality has the trajectory of a lot
of traders in this book. They all put in inordinate amount of time, perfected a method and style that matched their personalty,
and learned how to read through the indicators, past the Wall Street choir, and make it their own way.

Schwager's book both won't m
Feb 08, 2017 rated it liked it
Is a nice book, although it is not mind blowing.
It give a wide perspective of the found managers and tries really hard to take those thoughts to the small trader. Which is imposible is you as me.
Terry Kim
Oct 08, 2016 rated it really liked it
Yet another great Market Wizards book. My review is pretty much the same as previous market wizards, great insights from great traders.

One thing that got me really inspired is that many of these very successful traders, failed a lot more than others and a lot bigger as well (i.e. half million dollar losses). However these individuals did not call it quits and rather came back for more, stronger each time. I really think this is one of the biggest keys to success. Having that attitude of never q
Khairul Bashar
Mar 21, 2014 rated it it was amazing
This is one remarkable book which contains interviews of 15 top traders. Each trader has some common traits and each trader some unique philosophy about the market. Everything is so well articulated throughout the book by Jack D. Schwager that I could feel the blood pumping through my veins while reading the experiences and methodologies used by these traders. People who have passion for stock market should find this book thrilling.
Scott G.
Oct 05, 2015 rated it really liked it
Shelves: trading
This is actually a fantastic book for anyone who is interested in the financial markets, investing, or trading in general. It showcases the lives, backgrounds, and styles of a multitude of investors, hedge fund managers, traders, etc. Basically, a variety of different people who have made their fortunes in which their careers revolve around the financial markets. Some good principles and interesting stuff.
Jul 16, 2009 rated it it was amazing  ·  review of another edition
Shelves: investing
Excellent book, some of the investor/traders interviewed in the market where extreamly motivational.

In this book Mr. Schwager not only interview these investors before the great Bull run of the era but also followed up on these investors after the great crash. I found this to be an excellent part of the book. Showing how great investors can handle both the upside and downside.
Alvin Lim
Sep 05, 2012 rated it it was amazing
The third in the bestselling Market Wizards series, this time focusing on the barometer of the economy - the stock market.

It has been nearly a decade since the publication of the highly successful The New Market Wizards. The interim has witnessed the most dynamic bull market in US stock history, a collapse in commodity prices, dramatic failures in some of the world′s lea
Dec 25, 2012 rated it it was amazing
Good book that outlined to me the emotional discipline , as well as emotional tenacity to accept failure when dealing with stocks. I have also learnt how important it is to treat stock trading as a vocation, and I hope to review my own career plans as well, hopefully aligning them to the real pressures of the corporate world. Books was made better by the fact I got it for $2 lol.
Carl Yang
Jul 27, 2011 rated it it was amazing
Despite being 10 years old, still a great read. I recommend the interviews with David Shaw, Alphonse Fletcher, and John Bender. I read this 5 years ago, then took it with me on a flight and still was able to get a lot of new insight.
Jeremy Raper
Nov 24, 2012 rated it really liked it
Another one of Schwager's interview books - this one focuses exclusively on those who trade stocks. I found it pretty interesting, with a number of useful tidbits and nuggets to use in my own trading. ...more
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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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