Join Now
Books

Book Review: Hedge Fund Market Wizards By Jack Schwager

As a full time investor I’m always interested in learning from other investors.  It has been a long time since I read a 500-page book in a week, so that should tell you off the bat what I thought of the book.  Jack Schwager is one of the leading

As a full time investor I’m always interested in learning from other investors.  It has been a long time since I read a 500-page book in a week, so that should tell you off the bat what I thought of the book.  Jack Schwager is one of the leading experts on trading and has written several books on the subject.  This book, Hedge Fund Market Wizards (2012), is a 4th edition of sorts.  Jack originally wrote Market Wizards (1989), The New Market Wizards (1992), and Stock Market Wizards (2001) that are a series of interviews with the greatest stock traders and hedge fund managers of the last few decades.

In Hedge Fund Market Wizards, Jack Schwager interviews 15 more hedge fund managers that have had superior returns over a long time period.  Interviews in this book include the founder of the largest hedge fund in the world ($120 billion in assets and 1,400 employees) down to a single trader/fund manager that goes it alone managing $50 million.

The three main criteria for selecting interviews to be included in this book:

  1. The managers had superior return/risk track records for significant length periods, normally 10+ years.
  2. The managers were open enough to provide valuable advice about trading
  3. The interviews provided sufficient color to allow for a readable chapter.

Each chapter interview starts off with an overview of the interviewee’s performance, trading style, and history.  Then the rest of the chapter reads like a interview transcript where Schwager drills down in more detail across a number of topics normally first with the background of the trader/investor and moves chronologically forward from there.

I found the book very educational and highly thought provoking which is why Jack Schwager started these series of books in the first place.  I would highly recommend the book to anyone.

[BUY THE BOOK HERE]

Here is a good interview from a month ago with author Jack Schwager:

===> Interact and learn with 250+ of the best microcap investors on the planet. [Join Us]

MicroCapClub is an exclusive forum for experienced microcap investors focused on microcap companies (sub $500m market cap) trading on United States, Canadian, European, and Australian markets. MicroCapClub was created to be a platform for experienced microcap investors to share and discuss stock ideas. Since 2011, our members have profiled 1000+ microcap companies. Investors can join our community by applying to become a member or subscribing to gain instant view only access. MicroCapClub’s mission is to foster the highest quality microcap investor Community, produce Educational content for investors, and promote better Leadership in the microcap arena. For more information, visit http://microcapclub.com and https://microcapclub.com/summit/

Share
Sign up for more like this.

Get Alerted to our Next Educational Blog Post

Related posts
Grow Yourself

Grow Yourself

You must always be growing yourself ahead of your portfolio.

7 min read
Gambler

Gambler

Both stock picker and gambler need to develop a systematic approach to become consistent enough to take money from the casino, sportsbook or the stock market over the long-run.

6 min read