Hedge Fund Market Wizards

Jack D. Schwager 지음

Wiley 2012년 04월 25일 출간

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Fascinating insights into the hedge fund traders who consistently outperform the markets, in their own wordsFrom bestselling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from fifteen 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.Presents exclusive interviews with fifteen of the most successful hedge fund traders and what they've learned over the course of their careersIncludes interviews with Jamie Mai, Joel Greenblatt, Michael Platt, Ray Dalio, Colm O'Shea, Ed Thorp, and many moreExplains forty key lessons for tradersJoins Stock Market Wizards, New Market Wizards, and Market Wizards as the fourth installment of investment guru Jack Schwager's acclaimed bestselling series of interviews with stock market expertsA 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 forty essential lessonsm-from finding a trading method that fits an investor's personality to learning to appreciate the value of diversificationm-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.

Foreword ixPreface xiiiAcknowledgments xviiPart One Macro Men 1Chapter 1 Colm O&'Shea: Knowing When It&'s Raining 3Chapter 2 Ray Dalio: The Man Who Loves Mistakes 47Chapter 3 Larry Benedict: Beyond Three Strikes 77Chapter 4 Scott Ramsey: Low-Risk Futures Trader 103Chapter 5 Jaffray Woodriff: The Third Way 129Part Two Multistrategy Players 159Chapter 6 Edward Thorp: The Innovator 161Chapter 7 Jamie Mai: Seeking Asymmetry 223Chapter 8 Michael Platt: The Art and Science of Risk Control 261Part Three Equity Traders 285Chapter 9 Steve Clark: Do More of What Works and Less of What Doesn&'t 287Chapter 10 Martin Taylor: The Tsar Has No Clothes 323Chapter 11 Tom Claugus: A Change of Plans 359Chapter 12 Joe Vidich: Harvesting Losses 385Chapter 13 Kevin Daly: Who Is Warren Buffett? 405Chapter 14 Jimmy Balodimas: Stepping in Front of Freight Trains 423Chapter 15 Joel Greenblatt: The Magic Formula 451Conclusion 40 Market Wizard Lessons 489Epilogue 507Appendix A The Gain to Pain Ratio 513Appendix B Options&m-Understanding the Basics 515About the Author 519Index 521

"A must-read for all would-be traders...while the book's focus is clearly on trading and investing, there is more than enough human interest on offer for the general reader.... Like Schwager's other works...Hedge Fund Market Wizards looks set to become a classic." (Money Week, June 2012)"Offers valuable guidance and timeless insights for both investment professionals and market enthusiasts looking to improve their trading abilities by learning from the best." (trade2win.com, July 2012)"This book is destined to be a classic just like the others by Jack. But the latest goes one step further, these traders aren't just at the top of their game, they have defined it. What can I say? This book was so good it almost made me want to get back into the game again!"&m-Paul Wilmott, mathematician and ex-hedge fund manager"Brilliant! Brilliant! Brilliant! Another book about true traders by a true trader. Jack Schwager has become the official author of traderdom for this and future generations. Not only does Hedge Fund Market Wizards deserve a spot in every respectable trader&'s book collection, but the entire series should be read annually by both professional and aspiring traders. Timeless wisdom, priceless concepts!"&m-Peter Lewis Brandt, Futures Trader, Stableford Asset Management, and Author of Diary of a Professional Commodity Trader"I read Jack Schwager's first Market Wizards book when I was just starting out as in investor more than 20 years ago. It put into brilliant focus the importance of trading psychology and knowing thyself. His latest work is yet another masterpiece. It brings to light new concepts in the world of investing that apply to all investors in today's markets. Anyone who reads this work will immeasurably enrich themselves on many levels because trading is life and life is trading."&m-Dr. Chris Kacher, Founder of www.Self

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저자(글) Jack D. Schwager

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JACK D. SCHWAGER is a recognized industry expert on futures and hedge funds, and the author of a number of widely acclaimed financial books. He is currently the con-portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to MarkeTopper Securities, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm that specialized in creating customized hedge fund portfolios for institutional clients. His prior experience also includes over twenty years as a director of futures research for some of Wall Street's leading firms.

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