Hedge Fund Market Wizards: How Winning Traders Win
By Jack D Schwager
In Hedge Fund Market Wizards, a part of the Market Wizard series, Jack D Schwager applies his trading advice and insight to the Hedge Fund market, with a sort of zen-like grace and guidance that comes in an almost philosophical form.
The information held within Hedge Fund Market Wizards, is essentially the distillation of research and analysis derived from interviews with some of the leading figures in the market. The book illustrates different strategies and scenarios in which basic trading tenements stay true. Jack offers insightful long-term advice which will prove invaluable to both the professional in capital management, as well as the individual looking to more skillfully manage capital.
The book is broken into three easily digestible parts each containing chapters based around market leaders, illustrating a trait or skill that makes them especially successful in their given market.
- Chapters 1-3, Jack packs in information from luminaries in the field such as Colm O’Shea, Ray Dalio, founder of the world’s largest hedge fund, and Larry Benedict. The author skillfully merges each interviewees back story and financial growth while relating them to tenements that make them successful.
- Chapters 4-5, Jack introduces us to Scott Ramsey Jaffray Woodriff, these chapters help to give readers an insight into low-risk versus low volatility investments, the distinction between the two will be a future key to success for aspiring capital mangers.
- Chapters 6-8 offer up advice from distinguished financial figures that operate with multiple strategies to maximize efficiency of capital management. Edward Thorp is interviewed as one of the innovators of multi-strategic management, while Jamie Mai graces readers with the importance of adaptability within a multifaceted strategy; finally, Michael Platt dishes on the nature of risk control, which he presents as both an art and a science.
- Chapters 9-12 have insight from Steve Clark, Martin Taylor, and Tom Claugus these chapters offer great practical advice on making your money work harder through a diversified system of smart investments, a conclusion which is even more essential in today’s volatile market place.
- In Chapter 13, Kevin Daly has a valuable adage about doing nothing, a strategy which has kept his money safe, avoiding investments at those crucial times when market conditions are unfavorable and the risk to reward ratio is insufficient to necessitate large trades.
- Chapters 14 and 15 offer pragmatic wisdom Jimmy Balodimas, who downplays risky trades which have a high possibility for reward, in favor of more sustainable trades which prompt consistent growth; Joel Greenblatt is as kind to give readers his magic formula in order to give them the tools to manage capital like the professionals.
- The final chapter of the book contains forty lessons for successful capital management, which every reader will find useful for their long-term capital goals; it serves as a great resource readers can return to again and again.
With overwhelmingly positive reviews from the Amazon community of readers as well as distinguished industry professionals, this book is a safe bet and a wise investment for future capital strategy.
In conclusion, Hedge Fund Market Wizards is a wealth of information, giving the reader the magic necessary to succeed in today’s market place. The purchase of this book is a low-risk investment, with the potential to have you managing capital like a professional, add it to your collection-today!
Reviewed by William Oscar Updyke: