New Market Wizards Book

ZBZB said:
Has anyone read it yet? How is it?
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I'd say good but not great. The first Market Wizard book continues to be the best of them all in my opinion. Maybe it's because I first read the original book 12 years ago, and was more excited about all things trading back then compared to today, where I'm a bit more cynical and jaded.

I dunno, but something about the first book and those stories of the trading pits, Commodities Corporation, and rags to riches tales just come across as much more exciting than a small retail guy today discussing how he waits in front of his computer screen for an ECB announcement. Richard Dennis, Seykota, and Mike Marcus seemed like they offered much more trading depth (psychology, interesting stories, etc) than these interviews.

With that said, the best part of the book is that it really does give the small retail trader hope that it really can be done - the "little guy" really can get rich from trading, as these interviewees prove. Don't expect them to spill all the beans in the way of actual strategies to achieve that goal, however....unless "buy 100 bunds contracts after the ECB announcement" is an actual strategy.

I was amazed at how many times central banks were mentioned in these interviews (which is probably just a sign of the times that traders live in today) compared to the earlier books. I also could not help but think a couple of the interviewees had a real "blow up risk" that might be exposed in due time, that they did not appreciate, just by the way they discussed some of their blunders.

Anyway, I might be a bit too critical of the book....I just find that most sequels never really live up to the original.
 
I just picked it up and made it through two chapters already. So far, so good! :)

What I like about this book and also Hedge Fund Wizards is that it describes events which happened in the most recent past and markets which I myself have been part of and witnessed myself. As such, I can more easily relate compared to the older books.
 
Just got the book yesterday. Started reading, I'll give a review once I'm done.

But jeez, a lot of insecure "traders" in this thread.

Its like successful traders can't exist.

Jack writes books for entertainment purposes. But its also an educational tale with audited returns to back the stories. Schwager has given us book after book of classics. I enjoy his work.

Idk if you guys have read other trading books where interviews are conducted. While their are some gems out there, most of those books don't come close to the Wizard content.
 
guowei58 said:
did you guys read the original post? this new book has the following superstars!

- 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%.

tell me again how these guys are comparable to the traders in the first two books? THESE GUYS ARE MUCH BETTER. ED THORP AND THOSE CC SCHMUCKS are cold product. ho's don't want 'em no more. i can't wait until these new guys open up for outside investors :)
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Okay, you convinced me. You shouldn't read this book.
 
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