Schwager is a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder FundSeeder. Previously, Mr. Schwager was a partner in the Fortune Group , a London-based hedge fund advisory firm. Common Denominators of the Market Wizards This talk seeks to answer the question: What traits set apart those individuals who have achieved extraordinary success in the markets from everyone else?
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Shelves: finance Jack Schwager, an American trader born in Antwerp, Belgium, is a recognized industry expert in futures and hedge funds. In this book, he covers a wide range of investment insights and strategies; and in the process, dusts 55 investment misconceptions in the dust bin. Jack Schwager, an American trader born in Antwerp, Belgium, is a recognized industry expert in futures and hedge funds.
Anyone making investments personally or managing investments professionally would hugely benefit from this book. This is for two reasons. A new book from Jack Schwager is always something to look forward to. He has done the Investment Management industry tremendous service through his educational and entertaining in-depth interviews with knowledgeable, passionate money managers.
These interviews make it obvious to me, that the market is not efficient if you have a well thought-out investment philosophy, a coherent process, strong work ethics and discipline. I was excited when I first heard about this book.
Few are more appropriate for this kind of analysis than Schwager. Some stated misconceptions are quite obvious to the experienced investor, e.
But the discussions on the misconceptions are usually straightforward and logical. I doubt an experienced investor would disagree with the conclusions. For example, instead of just listing and discussing hidden risks, he could have tried to quantify their importance and occurrence. It is a bit sad because I believe Schwager, with his potential, had a golden opportunity to write a new Investment Classic with this great idea and missed it.
An advanced study of market truths based on market realities and long-term price action instead of theories from academia based on artificial assumptions is still very much in demand. I cannot help being annoyed in my suspicion that Schwager needed to meet a strict deadline or something similar. The setup of the book is somewhat ad-hoc, too. The part on hedge funds does have its merits, especially the more advanced chapters, and it could very well have made a book on its own.
More focus on the stated purpose would have enhanced my impression of the book. If I have been too harsh in my critique, it is because of my high expectations of a favorite author.
There are several chapters that caught my attention, e. I quickly reread the part on Portfolio Matters. Also, almost anyone can learn from Schwager how to evaluate a portfolio manager including assessing his performance and risk taking. Schwager summarizes his book with 32 Investment Observations.
There is lots of market wisdom here to assimilate. Despite some objections to this book, I still regard Schwager to be one of the most able professionals in our industry.
I will read his next book, too.
Market Sense and Nonsense: How the Markets Really Work (and How They Don't)
Prices and offers may vary in store about Bestselling author, Jack Schwager, challenges the assumptions at the core of investment theory and practice and exposes common investor mistakes, missteps, myths, and misreads When it comes to investment models and theories of how markets work, convenience usually trumps reality. The simple fact is that many revered investment theories and market models are flatly wrong—that is, if we insist that they work in the real world. Unfounded assumptions, erroneous theories, unrealistic models, cognitive biases, emotional foibles, and unsubstantiated beliefs all combine to lead investors astray—professionals as well as novices. In this engaging new book, Jack Schwager, bestselling author of Market Wizards and The New Market Wizards, takes aim at the most perniciously pervasive academic precepts, money management canards, market myths and investor errors. Like so many ducks in a shooting gallery, Schwager picks them off, one at a time, revealing the truth about many of the fallacious assumptions, theories, and beliefs at the core of investment theory and practice. A compilation of the most insidious, fundamental investment errors the author has observed over his long and distinguished career in the markets Brings to light the fallacies underlying many widely held academic precepts, professional money management methodologies, and investment behaviors A sobering dose of real-world insight for investment professionals and a highly readable source of information and guidance for general readers interested in investment, trading, and finance Spans both traditional and alternative investment classes, covering both basic and advanced topics As in his best-selling Market Wizard series, Schwager manages the trick of covering material that is pertinent to professionals, yet writing in a style that is clear and accessible to the layman read more About The Author JACK D. He is also an advisor
Market Sense and Nonsense: Why Almost Everything You Know about Investing Is Wrong
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