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Jack D.Schwager

Hedge Fund Market Wizards

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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.
Ova knjiga je trenutno nedostupna
641 štampana stranica
Godina izdavanja
2009
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Citati

  • Fkh chaosje citiraoпре 6 година
    Traders who are successful over the long run adapt. If they do use rules, and you meet them 10 years later, they will have broken those rules. Why? Because the world changed. Rules are only applicable to a market at a specific time. Traders who fail may have great rules that work, but then stop working. They stick to the rules because the rules used to work, and they are quite annoyed that they are losing even though they are still doing what they used to do. They don’t realize that the world has moved on without them.
    Besides failure
  • Fkh chaosje citiraoпре 6 година
    In a situation like this where there is a binary outcome that is highly uncertain, but the probabilities are different from what the market seems to be pricing, do you participate in the market?
    That is the main part of what I do. I look for deviations between the fundamental probability distribution I perceive and the probability distribution priced in by the market.
    Being short Spanish debt is a trade where the downside is limited to the annual carry, but the upside can be very substantial. It seems that an inherent characteristic of most of your trades is that they have an asymmetric quality—the maximum loss is limited, but the profit potential is open-ended.
  • Fkh chaosje citiraoпре 6 година
    The economic downturn led to a big move in fixed income that provided a much calmer way to play that idea than a direct trade in equities.
    So rather than consider the short side of the Nasdaq, you traded the long side of the bonds.

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