The new market wizards
conversations with America's top traders
by Jack D. Schwager · first published 1992
86% recommend14% neutral
Why HN recommends it
An interview collection featuring successful traders, offering a broad view of trading styles and market thinking. It serves as an overview for readers before they dive into specific areas.
Summarised by Claude from recommending comments
In The New Market Wizards, successful traders relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager encourages these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic.
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…a New Elite" https://www.amazon.com/More-Money-Than-God-Relations/dp/0143... Market Wizards, Updated: Interviews With Top Traders https://www.amazon.com/Market-Wizards-Updated-Interviews-Tra... The New Market Wizards: Conversations with America's Top Traders https://www.amazon.com/New-Market-Wizards-Conversations-Amer... Hedge Fund Market Wizards: How Winning Traders Win https://www.amazon.com/Hedge-Fund-Market-Wizards-Winning/dp/...
on “Ask HN: Books you wish you had read earlier?” ↗…These aren't really textbooks, but regardless, the Market Wizards series by Jack Schwagger is highly recommended: https://www.amazon.com/Market-Wizards-Updated-Interviews-Tra... https://www.amazon.com/New-Market-Wizards-Conversations-Amer... https://www.amazon.com/Hedge-Fund-Market-Wizards-Winning/dp/...
on “Ask HN: What are the best textbooks in your field of expertise?” ↗In the primary market, when debt is first issued through a syndicate of banks, there is not really much of a problem. There is a really great chapter about this process I think in the "The new Market Wizards" book by Schwager, though it might be in the first book, "Market Wizards." The banks call all of their customers and get commitments for dollar amounts towards the deal. Then they put together the paperwork…
on “The Blockchain Revolution Gets Endorsement in Wall Street Survey” ↗…Financial Freedom by Dr Van 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…
on “Ask HN: How did you learn about stock market/trading investing ?” ↗…digit returns are not unheard of. Most of the people making big money don't exactly advertise and some are downright reclusive. But they certainly do exist. I recommend reading http://www.amazon.com/The-New-Market-Wizards-Conversations/d... and the other versions in the series - I think there is 4 now. These are candid interviews with the individuals involved. They are good reading just for the interested entrepreneur.
on “Why I don't trade stocks and (probably) neither should you” ↗…perspective from which you can dive deeper into areas that you think might be especially interesting to you. [1] Market Wizards - https://www.amazon.com/Market-Wizards-Jack-D-Schwager/dp/088... [2] The New Market Wizards - https://www.amazon.com/New-Market-Wizards-Conversations-Amer... [3] Hedge Fund Market Wizards - https://www.amazon.com/Hedge-Fund-Market-Wizards-Winning/dp/...
on “Ask HN: Whats the best way for a Software Engineer to learn finance?” ↗…wouldn't exist, or at least not to the degree they do today. - As an aside, if anyone has an interest in trading and hasn't read them, I highly recommend Market Wizards: Interviews with Top Traders and The New Market Wizards: Conversations with America's Top Traders, by Jack D. Schwager. They were published in 1993 and 1994, respectively. Although written in a period where automated systems trading was in its infancy (HFT…
on “Why I don't trade stocks and (probably) neither should you” ↗…words https://www.amazon.com/The-Money-Masters-John-Train/dp/08873... https://www.amazon.com/Money-Masters-Time-John-Train/dp/0887... https://www.amazon.com/New-Money-Masters-John-Train/dp/08873... Market Wizards; The New Market Wizards; Hedge Fund Market Wizards, by Jack D. Schwager. Interviews of successful traders https://www.amazon.com/Market-Wizards-Jack-D-Schwager/dp/088... https://www.amazon.com/The-New-Market-Wizards-Conversations/... https://www.amazon.com/Hedge-Fund-Market-Wizards-Winning/dp/...…
on “Ask HN: What are the must-read books about economics/finance?” ↗The Market Wizards books are a bit dated, but still do a good job of profiling various trader mindsets across a number of markets. http://www.amazon.com/The-New-Market-Wizards-Conversations/d... http://www.amazon.com/Market-Wizards-Interviews-Weinstein-Hi...
on “Ask HN: How did you learn about stocks and the market?” ↗