The Market Wizards PDF

Market Wizards – Jack D. Schwager

Jack D. Schwager is a well-known expert in futures and hedge funds and has authored several acclaimed financial books. Currently, he serves as the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund, which manages a range of futures and FX accounts.

Additionally, he advises Marketopper, a quantitative trading firm based in India. Before this, Mr. Schwager was a partner at the Fortune Group, a hedge fund advisory firm based in London that created custom hedge fund portfolios for institutional clients. He has also spent over twenty years as a director of futures research at prominent Wall Street firms.

The Investment Classic, Updated with a New Preface and Afterword

“I’ve read the book at several stages of my career as it shows the staying power of good down-to-earth wisdoms of true practitioners with skin in the game. This is the central document showing the heuristics that real-life traders use to manage their affairs, how people who do rather than talk have done things. Twenty years from now, it will still be fresh. There is no other like it.”
—Nassim N. Taleb, former derivatives trader, author of The Black Swan, and professor, NYU-Poly

Praise for the First Edition

“Market Wizards is one of the most fascinating books ever written about Wall Street. A few of the ‘Wizards’ are my friends—and Jack Schwager has nailed their modus operandi on the head.”
—Martin W. Zweig, PhD, Editor, The Zweig Forecast

“It is difficult enough to develop a method that works. It then takes experience to believe what your method is telling you. But the toughest task of all is turning analysis into money. If you don’t believe it, try it. These guys have it all: a method, the conviction, and the discipline to act decisively time after time, regardless of distractions and pressures. They are heroes of Wall Street, and Jack Schwager’s book brings their characters vividly to life.”
—Robert R. Prechter Jr., Editor, The Elliott Wave Theorist

Featuring interviews with seventeen of the most successful market-beaters—including Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michael Steinhardt, Ed Seykota, Marty Schwartz, and Tom Baldwin—*Market Wizards* is filled with real-life stories from the trading industry. This book showcases remarkable journeys, from an MIT electrical engineer whose computerized trading yielded returns of 250,000% over sixteen years to a trader who, after facing several setbacks, transformed a $30,000 investment into an $80 million fortune. Schwager uncovers the key elements that make a true Market Wizard.