- Gebundene Ausgabe: 352 Seiten
- Verlag: HarperBusiness (9. Januar 2001)
- Sprache: Englisch
- ISBN-10: 0066620589
- ISBN-13: 978-0066620589
- Größe und/oder Gewicht: 24,3 x 16,2 x 3 cm
- Durchschnittliche Kundenbewertung: 5.0 von 5 Sternen Alle Rezensionen anzeigen (1 Kundenrezension)
- Amazon Bestseller-Rang: Nr. 1.936.453 in Englische Bücher (Siehe Top 100 in Englische Bücher)
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Stock Market Wizards
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Amazon.co.uk
Stock Market Wizards looks at 15 of the men and women who have beaten the US indexes year in, year out--and tries to uncover their secrets. In a world of tracker funds, computer-generated buying decisions, and roller-coaster stock prices, the ability to consistently outperform the market is a precious commodity.
Each trader is interviewed at length. The dialogue is then presented Question and Answer style on the page, and at the conclusion of each chapter, Schwager summarises what lessons can be drawn from their replies. Unsurprisingly, perhaps, in a clutch of mavericks who beat the crowd, every one is different. There are obsessives like Mark Minervini, with his 14-hour trading days, who claims not to have taken a day off in ten years; but then there is Mark Cook, who combines caning the market with working on his farm. There is Ahmet Okumus, whose goal is to be the best money manager in the business, this year and every year; but there is Stuart Walton who walked away from trading for several years, and would rather be a writer and artist anyway. Schwager grills each on how they pick their stocks, the technical analysis they employ, how they choose to hold or sell, how they structure their portfolios. Each, it emerges, has his own "edge". Michael Lauer, with his constant search for value stocks, uses a six-step selection process that identifies stocks with good return and risk prospects; David Shaw invests heavily in research, and cuts his transaction costs to the bone, allowing him to profit from tiny market inefficiencies. Each, again, is different, but in the fascinating summary chapter, Schwager identifies the key qualities they all share. All have failed and come back better and wiser dealers. All, no matter how laid back or eccentric they may appear, have a rock-solid trading philosophy and strategy. All are flexible and responsive to change--and all work like demons.
It's a fascinating glimpse into minds of stock-market winners, and the 65 lessons he draws would form a good blueprint for anyone's forays into shares. But perhaps the best is No. 1: "There is no single true path". In the end, you have to do it yourself. --John Rennie -- Dieser Text bezieht sich auf eine andere Ausgabe: Gebundene Ausgabe .
Amazon.com
Newcomers to Jack Schwager's series on top traders, as well as fervent fans of his first two entries Market Wizards and The New Market Wizards, will find that Stock Market Wizards offers another revealing look at a wide spectrum of trading styles through the eyes of 15 extraordinarily successful individuals. Transcripts of incisive Q&A sessions between Schwager and traders--including Michael Lauer, Dana Galante, Alphonse "Buddy" Fletcher Jr., and Claudio Guazzoni--examine the ways each approaches their specialty, whether it be value stocks, mutual funds, short selling, options trading, or other market niches. After brief but interesting introductions that place the subjects' trading practices into perspective, Schwager coaxes from them penetrating observations on setting goals, finding opportunities, learning from mistakes, and operating on a day-to-day basis. While some participants refuse to divulge proprietary practices, and Anthony admits that many traders' activities hold little relevance to individual investors, the basic doctrines nonetheless contain nuggets of wisdom that can be applied by many nonprofessionals. And, in the final "Wizard Lessons" chapter, Schwager details the 65 overarching principles (such as Trade Your Personality, Be Willing to Take a Loss, and The Importance of Setting Goals) he culled from these extensive conversations. --Howard Rothman
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Einleitungssatz
In June 1999, at the peak of his career, after eight years establishing one of the most extraordinary stock trading track records of the 1990s, and with $150 million under management, Stuart Walton returned all money to his investors and walked away from trading completely. Lesen Sie die erste Seite
Buchdeckel | Copyright | Inhaltsverzeichnis | Auszug | Stichwortverzeichnis | Rückseite
In June 1999, at the peak of his career, after eight years establishing one of the most extraordinary stock trading track records of the 1990s, and with $150 million under management, Stuart Walton returned all money to his investors and walked away from trading completely. Lesen Sie die erste Seite
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Format:Taschenbuch|Von Amazon bestätigter Kauf
Natürlich lernt man aus den Interviews nicht wirklich DAS Geheimrezept für den Börsenerfolg. Man bekommt aber einen Einblick in völlig verschiedene Charaktere und Systeme. Viele der Gesprächspartner sind regelrechte Gambler, die mehrmals alles verloren haben, bevor sie ein System entwickelt haben, mit dem sie erfolgreich waren.
Teilweise sind die Gespräche für meinen Geschmack etwas langatmig und zu persönlich. Ansonsten aber absolut empfehlenswert!
Teilweise sind die Gespräche für meinen Geschmack etwas langatmig und zu persönlich. Ansonsten aber absolut empfehlenswert!
Die hilfreichsten Kundenrezensionen auf Amazon.com (beta)
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54 Rezensionen
58 von 60 Kunden fanden die folgende Rezension hilfreich
Alas, it really isn't as good as I and II
4. April 2001
Format:Gebundene Ausgabe|Von Amazon bestätigter Kauf
I think the first two Market Wizards books are classics, I really like Schwager as a writer, and I really really really wanted this book to be as good. I resisted coming to the same conclusion as the other 2-or-3 star reviewers as long as I could, but you know what? Sadly, they're right. The first Market Wizards book is completely indispensable. The second, it's true, was not as good overall - but half of it was. This book isn't in the same league. The best I can call it is light entertainment, for those of us who find books about the markets entertaining. To Schwager's credit, his writing is consistently clear and readable. (To appreciate this better, take a look at the slapdash Market Wizards knockoff, "The Best: Conversations with Top Traders", which contains a few insights scattered amidst a great deal of repetition and incoherence.) But not only do most of the traders interviewed here not have nearly the track records of the original Market Wizards; they don't seem to have the same substance or depth either. There are no minds here of the calibre of an Ed Seykota or a Jim Rogers, just to name two. (I mean, of course, judging solely by these interviews). Not only that, but several display a distasteful absence of class. (I'm not talking about social class, I'm talking about that elusive quality of graciousness which makes a successful person seem deserving...) Nonetheless, I did enjoy reading several of the interviews, for example those with Fletcher and Galante.
38 von 39 Kunden fanden die folgende Rezension hilfreich
Unworthy of being associated with the prior "Wizards" books
31. Dezember 2001
Format:Gebundene Ausgabe
Mr. Schwager apparently needs to keep churning out more "Market Wizards" books in order to pay for his swank Martha's Vineyard address. Other than a few nuggets of trading/investing strategy contained in a couple of the interviews, this book has virtually no value to the individual trader or investor.
The majority of the interviews are with fund managers who manage hundreds of millions or billions of dollars, and whose trading strategies and access to information and CFO's are not applicable to the individual. Many of the interviews are with individuals who practice arcane strategies involving financing packages or interest-rate hedges with corporations designed to essentially eliminate any market risk. These strategies are of absolutely no value to the individual trader/investor. In one interview, the person not only refused to discuss any of his trading strategies or techniques, but also refused to even discuss what markets he traded. This of course immediately begs the question of why this interview was included in the book.
The author could have easily found many stock traders who trade for their own account, and whose trading strategies would have been of significant interest to the average reader. He fails almost completely in this regard. What a waste.
47 von 51 Kunden fanden die folgende Rezension hilfreich
Cut Your Losses Short by Not Buying This Book
29. Januar 2001
Format:Gebundene Ausgabe
Unlike the first two "Wizard" books, which were outstanding, this book is uninspired and a profound disappointment. Almost immediately after starting the book, I got the feeling that Jack Schwager wasn't terribly interested in writing it, but couldn't resist the temptation to cash in a final time by doing a dozen or so "quickie" interviews with traders.
The stock traders interviewed this time around are younger, cockier, and generally a lot less likeable than the futures traders in the old "Wizard" books. The most interesting chapter, and the only one on par with the original books' interviews, is with Mark Cook, who isn't really a stock trader, but is in fact a trader of S&P futures. Several of the chapters are almost unbearable to read, not because Schwager's writing is bad, but because the traders themselves are hugely pretentious (Michael Lauer) or plainly arrogant (Ahmet Okumus). Most of the interviewees would best be described as short-term investors, not traders, and a couple of them are exclusively involved in private equity financing (Fletcher, Guazzoni), which has nothing whatsoever to do with trading (filler, Jack?). If you think that you will be able to learn something about day to day trading from this book, then you will be sorely disappointed.
Lastly, there are practically none of the penetrating insights or revealing comments (except for the Cook interview) that made the first two "Wizard" books so educational and even inspirational. It's a shame that Schwager wrote this uninspired book and sullied the reputation that he built with his original "Wizard" books. He should have followed his own advice about "not getting greedy," and declined the publisher's advance in order to keep his position as an interesting writer intact.
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