Market Wizards

A bestselling classic (more than 200,000 copies sold in hardcover and paperback) that delves into the minds of some of the world's most successful traders.

This decade has witnessed the most dynamic bull market in US stock history, a collapse in commodity prices, and dramatic failures in some of the world′s leading hedge funds. How have some traders managed to significantly outperform a stock market that,until recently, moved virtually straight up? This book will feature interviews with those traders who achieved phenomenal success, from an Ohio farmer who has constantly made triple-digit returns, to a Turkish �migr� who transformed a $16000 account into $6 million, to spectacularly successful professional hedge-fund managers such as Michael Lancer of the Lancer Group and Michael Masters of Capital Management. Today, the action is on the stock market. This book will be a must-have for that sector, as well as for the legions of individuals who eagerly bought Market Wizards.

REVISED PAPERBACK EDITION WITH NEW MATERIAL IN EVERY CHAPTER Jack D. Schwager has returned to the traders to ask them how they navigated the unprecedented markets of 2020–2022, including the pandemic bear market, an abrupt reversal to new highs, rising inflation, and the emergence of another bear market. All chapters updated with exclusive new interviews with the Unknown Market Wizards. The Market Wizards are back! Unknown Market Wizards continues in the three-decade tradition of the hugely popular Market Wizards series, interviewing exceptionally successful traders to learn how they achieved their extraordinary performance results. The twist in Unknown Market Wizards is that the featured traders are individuals trading their own accounts. They are unknown to the investment world. Despite their anonymity, these traders have achieved performance records that rival, if not surpass, the best professional managers. Some of the stories include: - A trader who turned an initial account of $2,500 into $50 million. - A trader who achieved an average annual return of 337% over a 13-year period. - A trader who made tens of millions using a unique approach that employed neither fundamental nor technical analysis. - A former advertising executive who used classical chart analysis to achieve a 58% average annual return over a 27-year trading span. - A promising junior tennis player in the UK who abandoned his quest for a professional sporting career for trading and generated a nine-year track record with an average annual return just under 300%. World-renowned author and trading expert Jack D. Schwager is our guide. His trademark knowledgeable and sensitive interview style encourages the Wizards to reveal the fascinating details of their training, experience, tactics, strategies, and their best and worst trades. There are dashes of humour and revelations about the human side of trading throughout. The result is an engrossing new collection of trading wisdom, brimming with insights that can help all traders improve their outcomes.

Praise for THE NEW MARKET WIZARDS "Jack Schwager simply writes the best books about trading I've ever read. These interviews always give me a lot to think about. If you like learning about traders and trading, you'll find that reading this book is time well spent." -Richard Dennis, President, The Dennis Trading Group, Inc. "Jack Schwager's deep knowledge of the markets and his extensive network of personal contacts throughout the industry have set him apart as the definitive market chronicler of our age." -Ed Seykota "Very interesting indeed!" -John Train, author of The Money Masters "Successful trading demands longtime experience because it requires firsthand knowledge. If there is a shortcut to this requirement, however, it is in reading about the experiences of others. Jack Schwager's book provides that shortcut. If you find yourself sweating upon occasion as you read, then you're as close to the trading experience as you can get without actually doing it yourself." -Robert R. Prechter, Jr., editor, The Elliott Wave Theorist THE NEW MARKET WIZARDS Some traders distinguish themselves from the herd. These supertraders make millions of dollars-sometimes in hours-and consistently outperform their peers. As he did in his acclaimed national bestseller, Market Wizards, Jack Schwager interviews a host of these supertraders, spectacular winners whose success occurs across a spectrum of financial markets. These traders use different methods, but they all share an edge. How do they do it? What separates them from the others? What can they teach the average trader or investor? In The New Market Wizards, these wildly successful traders relate the financial strategies that have rocketed them to success, as well as the embarrassing losses that have proven them all too human. Meet the Wizards of Wall Street: * Stan Druckenmiller, who, as manager of the Soros Quantum Fund, realized an average annual return of more than 38 percent on assets ranging between $2.0 and $3.5 billion * William Eckhardt, a mathematician who, in collaboration with trader Richard Dennis, selected and trained the now-legendary circle known as the Turtles * Bill Lipschutz, a former architect who, for eight years, was Salomon Brothers' largest and most successful currency trader * Blair Hull, a one-time blackjack player who began an options trading company with Asking the questions that readers with an interest in the financial markets would love to pose to the financial superstars, and filled with candid appraisals, The New Market Wizards takes its place as a classic.

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 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 they've learned over the course of their careers Includes interviews with Jamie Mai, Joel Greenblatt, Michael Platt, Ray Dalio, Colm O’Shea, Ed Thorp, and many more Explains forty key lessons for traders Joins Stock Market Wizards, New Market Wizards, and Market Wizards as the fourth installment of investment guru Jack Schwager's acclaimed bestselling series of interviews with stock market experts A candid assessment of each trader's 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 investor's 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.

A complete collection of Jack D. Schwager's bestselling Market Wizards series In his Market Wizards series, author and financial industry expert Jack D. Schwager reveals inside secrets, tips, and insight from the top traders in today's financial markets. Packed with winning advice for individual traders and professionals alike, this five-volume collection compiles Schwager's best in one package at one low price. The set includes: The hardcover edition of the original Market Wizards: Interviews with Top Traders featuring guiding trading principles based on firsthand interviews with successful traders in most financial markets The hardcover edition of The New Market Wizards: Interviews with America's Top Traders featuring even more invaluable insight from even more super-successful traders The hardcover edition of Stock Market Wizards: Interviews with America's Top Stock Traders featuring enlightening stories from successful stock traders, from self-taught traders to professional hedge fund managers The hardcover edition of Hedge Fund Market Wizards: How Winning Traders Win featuring a behind-the-scenes look at the world of hedge funds and fifteen traders who have consistently beaten the markets The Winning Methods of the Market Wizards DVD which reveals the key tactics and shared traits of the world’s most acclaimed traders

An accessible look at the art of investing and how to adopt the practices of top professionals What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages. In The Little Book of Market Wizards, Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results. Each chapter focuses on a specific theme essential to market success Describes how all market participants can benefit by incorporating the related traits, behaviors, and philosophies of the Market Wizards in their own trading Filled with compelling anecdotes that bring the trading messages to life, and direct quotes from the market greats that resonate with the wisdom born of experience and skill Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing.

The world's top trader's reveal the secrets of theirphenomenal success! How do the world's most successful traders amass tens,hundreds of millions of dollars a year? Are they masters of anoccult knowledge, lucky winners in a random market lottery,natural-born virtuosi—Mozarts of the markets? In search of ananswer, bestselling author Jack D. Schwager interviewed dozens oftop traders across most financial markets. While their responsesdiffered in the details, all of them could be boiled down to thesame essential formula: solid methodology + proper mental attitude= trading success. In Market Wizards Schwager lets you hear,in their own words, what those super-traders had to say about theirunprecedented successes, and he distils their responses down into aset of guiding principles you can use to become a trading star inyour own right. Features interviews with superstar money-makers including BruceKovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, EdSeykota, Marty Schwartz, Tom Baldwin, and more Tells the true stories behind sensational trading coups,including the one about the trader who turned $30,000 into $80million, the hedge fund manager who's averaged 30% returns everyyear for the past twenty-one years, and the T-bond futures traderwho parlayed $25,000 into $2 billion in a single day! "Market Wizards is one of the most fascinating books everwritten about Wall Street. A few of the 'Wizards' are myfriends—and Jack Schwager has nailed their modus operandi onthe head." --Martin W. Zweig, Ph.D., Editor, The Zweig Forecast