THE MARKET WIZARD THREAD

Quote from JT47319:

I believe Jesse Livermore, in R.o.S.O., put some cash in his wife's and son's trust with explict orders to his lawyer to NEVER allow him to touch it. After going bust so many times, he wanted to be sure his wife and son would always be provided for.
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Yes, but he went for it anyway. Lost it, and committed suicide. Kids had nothing but wife took a garbage bag filled with cash and ran off.
 
vishnu,

You mean Lancer? I heard a lot of posh people got their heads handed to them. Britney Spears is reported among the investors. Byron, is doing a great job of covering the story, as usual.

Okumus? I have my doubts about that guy. He's just a kid. But then again Sir John trusts him.

Mike Weinstein? Last I heard is he is in semi-retirement and writting an inst. newsletter. Which right now is calling for a cyclical bull mkt to power the mkt much higher.

Like a lot of people on this thread have said, reading all the replies makes me want to dust the books off for another reading. :)

Quote from Vishnu:

updates and thoughts on various Market Wizards:

a. Nobody has mentioned on this thread the Michael Lauer scandal that has occurred after Stock Market Wizards. Basically his entire fund is being accused of being a complete scam and the supposed $1B in assets his fund is worth has basically gone to 0. He's being implicated in various penny stock manipulations and people can't get their money out. NY Post has done a series of articles on him by Chris Byron.
......


e. Ahmet Okumus, from Stock Market Wizards, had a bad year last year. I think down over 20%. But he is a deep value guy which has worked huge every year since he started except for last year.

f. Is Mark Weinstein legit? Other than the book I have not read or heard anything about this guy. And yet, I believe it. I think if one is going for small scalps with not so much money and wait for extreme moments (like VIX > 50 and QQQ down 3% intraday, buy QQQ and go for 1/2 %) you can have close to 100% success but just not make many trades and thats the impression I got from that chapter.

This thread has gotten me thinking I should reread these books. Good stuff.
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Quote from candletrader:

I am pretty confident that most of you have read Schwager's two seminal and classic works on trader interviews, Market Wizards and New Market Wizards...

Please discuss which, if any, of the following characters have had a profound effect on your trading and/or motivation...

Market Wizards:

1) Michael Marcus
2) Bruce Kovner
3) Richard Dennis
4) Paul Tudor Jones
5) Gary Bielfeldt
6) Ed Seykota
7) Larry Hite
8) Michael Steinhardt
9) William O'Neil
10) David Ryan
11) Marty Schwartz
12) James B Rogers
13) Mark Weinstein
14) Brian Gelber
15) Tom Baldwin
16) Tony Saliba
17) Dr Van K Tharp

New Market Wizards:

18) Bill Lipschutz
19) Randy McKay
20) William Eckhardt
21) Monroe Trout
22) Al Weiss
23) Stanley Druckenmiller
24) Gil Blake
25) Victor Sperando
26) Tom Basso
27) Linda Bradford Raschke
28) Mark Ritchie
29) Blair Hull
30) Jeff Yass
31) Charles Faulkner
32) Robert Krausz
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Bill Lipschutz
 
Quote from Baruch:

Bill Lipschutz
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Yeah, Bill. Amazing guy!

He had $3 billion short USD when Gorbachoff made a speech - the market started climbing quite a number of points.

Anyway... *yawn* is this thread gunna be moved to chit chat too?

Sam
 
Quote from gamalruach:

Yeah, Bill. Amazing guy!

He had $3 billion short USD when Gorbachoff made a speech - the market started climbing quite a number of points.

Anyway... *yawn* is this thread gunna be moved to chit chat too?

Sam
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Yeah, but he did the right thing, and took his loss.
 
Quote from The Answer:

Baldwin retired from the Bond pit several years ago with about 30 million. He promptly sunk almost all of it in a publicly traded tech (forgot the name, it's history) and lost it all. Now he's back in the pit trying to scrape out a living. Very Sad.
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He's broke???

Well, not exactly, he owns a office building (not space... building) in Chicago's Financial District. But yes, I have heard he lost quite an amount with IT Bubble Burst. It's all 2nd hand info anyways.
 
paul tudor jones, richard dennis..and william eckhart ...of course...

funny nobody mention the first two..

contrary to many others, I didn't like the seykota interview for some reason, come off as really cocky to me..

and all that psychological musings aren't going to help YOUR trading anyway, very subjective and open to interpretation. voodoo stuff if u ask me.

I think echkart's insights on the trading psychology is much more concrete.
 
I like the following

6) Ed Seykota
7) Larry Hite
20) William Eckhardt
21) Monroe Trout
25) Victor Sperando
27) Linda Bradford Raschke


and also Mark Cook and SAC in the SMW.


9) William O'Neil

He is one of my least favorite. He gives me an impression that we should only buy stocks. Short sell or derivatives are not good nor ethical. Just like Peter Lynch.
 
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