Stock Market Wizards
Interviews with America's Top Stock Traders
by Jack D. Schwager · first published 2001
83% recommend17% neutral
Why HN recommends it
Interviews with top stock traders reveal how successful investors think about risk, discipline, and their approaches. Suits readers interested in trading mindset and practical market perspectives.
Summarised by Claude from recommending comments
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Market Wizards: Interviews with Top Traders by Jack D. Schwager Stock Market Wizards: Interviews with America's Top Stock Traders by Jack D. Schwager
on “Ask HN: Best books/source to learn about investing?” ↗…Tharp - the take away in this book is that active management by position sizing and risk setting dictates more of your return than your actual strategy. - Market Wizards, The New Market Wizards and the Stock Market Wizards, all by Jack Schwager. These books are all a series of interviews with top traders in commodities, currencies, funds, stocks and probably something I've forgotten. By understanding how an incredibly…
on “Ask HN: How did you learn about stock market/trading investing ?” ↗…https://www.youtube.com/watch?v=JVvwCkB-JLE https://www.youtube.com/watch?v=qTV7afiYE6A There's also a fantastic story about someone navigating an even more scary scenario in the first chapter of Schwager's _Stock Market Wizards_.
on “‘Crypto Ruined My Life’: The Mental Health Crisis Hitting Bitcoin Investors” ↗…Creative Cash Flow Reporting are where I'd start with that. To be really good you also need to read quite a bit about psychology/mental models. Look for speeches/lectures by Charlie Munger. Books like Stock Market Wizards/anything that contains a ton of interviews with investors are also great. Reminisces of a Stock Operator is pretty good for giving you an account of the ups and downs that come with investing -- the guy…
on “Ask HN: Steady 4-5% on $5 million?” ↗…Once you find an edge your irrational brain cuts in. Books: "Investing by the numbers" by Jarrod Wilcox. "Trend Following" by Covel. "The only three questions that count" by Fisher. And of course the "[Stock]Market Wizards" books. Typically the top traders seem to have read a couple of hundred books on the topic and have done thousands of hours of research. Your assumption that you will lose at first it probably right.…
on “Ask HN: Trading Algorithms” ↗Stock Market Wizards by Jack Schwager
on “Ask HN: What books are you currently reading?” ↗