This audiobook provides fascinating insights into the hedge fund traders who consistently outperform the markets, in their own words.
From best-selling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from 15 traders who've consistently beaten the markets. Exploring what makes a great trader a great trader, Hedge Fund Market Wizards breaks new ground, giving readers rare insight into the trading philosophy and successful methods employed by some of the most profitable individuals in the hedge fund business.
A candid assessment of each trader's successes and failures, in their own words, the book shows readers what they can learn from each, and also outlines 40 essential lessons - from finding a trading method that fits an investor's personality to learning to appreciate the value of diversification - that investment professionals everywhere can apply in their own careers.
Bringing together the wisdom of the true masters of the markets, Hedge Fund Market Wizards is a collection of timeless insights into what it takes to trade in the hedge fund world.
©2012 Jack D. Schwager (P)2012 Audible, Inc.
AMAZING ! I read all other Market Wizards. This one is as good as others. Reforced my Ray Dalio's admiration.
Worth 1000 times each cent spent.
This is probably the most useful audiobook I have listened to so far. You get a lot of interesting, and sometimes conflicting perspectives from the various fund managers that were interviewed. Each manager has their own advice to give based on what has worked for them, but the key is that it worked for them and would not necessarily work for another fund manager.
My favorite interview in this book is with Kevin Daly since his approach aligns most with my own inclinations.
I like the way that the narrator adjusts his pace and tone to reflect the characters of the different fund managers that were interviewed.
-Determine what approach to trading best suits you as a trader-Stop doing what doesn't work, do more of what works
I have read 'Market Wizards' and 'The New Market Wizards' and I think that this newer book is worth reading also. The interviews reinforce some of the insight from the earlier books while adding context from the 2008 market crash and plenty of fresh insight.
From general to specific tips on investing, this book got it all. The interviewer is thorough with his line of questions that he was able to extract the most useful information about investing. Some of the specific ideas are a bit over my head since I'm just starting to learn, but the general ideas are just superb. Moreover, listening to the real technical stuff is making me feel like I'm more knowledgeable about investing in general, even though the first 4 chapters (that's how far I am in the book) dealt mostly with macro economics, and credit, fixed income, & FX markets. These hedge fund managers are brilliant, makes me jealous, haha.
I would say this would rank behind to Market Wizards but it's currency/recency makes up for it. Market Wizards is definitely in my top 3 trading books.
Ray Dalio's insight on the world is amazing, I like his perspective on leveraging/deleveraging and inflation/deflation. It basically predicts our course via his historical knowledge. I also picked up great trading tips such as predefining your risk from putting a stop in an area that would get hit ONLY if you are wrong and THEN decide your position size based on the losses incurred from that stop. There are many gems like this and many perspectives and interesting autobiographies.
Narration felt boring at first but then it grows on you as you see more vocal variety. I still like Jack D. Schwager's narration of his own Market Wizard's book more. It sounded more 'chummy/unique?', but of course, no one can narrate a book as well as its author as they met with the characters personally.
Definitely the risk management techniques.
I would also look further in Ray Dalio's work, he has a 120 pager he makes his employees read.
Not every interview is for everyone, but if you have even the slightest interest in the markets, you'll find many useful insights in this inspiring volume.
Offers several different perspectives on being successful in the market. You are sure to take away a few nuggets about successful investing.
Great book to generate investing ideas and hear how the pros have done it.
great to hear the story of large hedge funds managers
the new market wizards
the narrator could have been much better - less boring
no way, too boring narrator
I've worked in the financial services industry for about 20 years and have read and recommended Market Wizards and New Market Wizards countless times. However, this book, which follows the same format, falls very, very short due to its horrible narration. Clinton Wade obviously knows nothing about the business as he cannot correctly pronounce arbitrage or muni. It's very distracting to listen to someone repeatedly say arbitrij and moonie. He does however change his voice somewhat effectively from question to answer, but his tone is so docile, it can lull you to sleep. I listen to books while I drive and over the years have listened to hundreds. Books on trading are at the top of my list and this one just fell so short. To be fair though, I read his other books, so I will read this and try to get past the horrible narration.
Dull, slow, littered with mispronunciations and just an overall poor choice of narrator.
This book is just a transcript of several interviews. Thank goodness the people being interviewed have lively stories. The book literaly says Hello Mr X. Tell me about x..... then a response, then a question, and on and on. Not even an attempt at a story line. There are chapter summaries at the end of each chapter too with highlights. If you want to read this book, get the print versions and skip to the summaries. The rest is best for skimming only.
To make an audio version better, there would need to actually be a plot or story. Something that allowed the chapters to flow together and not be an anthology of interviews. There is no context to make me care about what these people say
Provide more background to market conditions, sense of common time and place, etc... The book Quants covered similar events in a much more enjoyable fashion. It had pace and urgency that an interview transcript really lacks.
Probably, he did well considering the format of the book.
There is no cohesion between chapters. Each chapter is like, meet Mr X. Mr X tell me about your investing strategy.... Q&A, Q&A, Q&A, over and over again. Difficult to listen to. Probably ok to skim read, but not for the car ride listen.
The title is the main premise of this excellent book. The writer does an outstanding job reviewing, through personal interviews, the varied investment strategies of a handful of famous traders. It was amazing to me that the writer was able to get interviews with all of these people, and that they appeared to be quite open about their general investment philosophies. Equally amazing was that while all were extremely successful, many had very different attitudes and styles of investing. The author summarizes his findings in the end. Other than the title of this review, the other consistent theme, although not universal, was that these hedge fund managers stick with their trades, even when they are going against them. Well worth the read.
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