The first part focuses on the firm’s business model, which was developed by two winners of the Nobel prize in economics as well as PhDs from Harvard, and explains its early success in delivering returns of more than 40% between 19. 'When Genius Failed' charts the rise and fall of Long-Term Capital Management (LTCM) – a hedge fund that had more than $120 billion under management before it collapsed in 1998, prompting a bailout by the Federal Reserve.
Peter Hanks, DailyFX analyst Discover what forex trading is It provides great insights on the mindset required to be a profitable trader.' Why was it chosen? '"Market Wizards" is one of my favourite trading books – the interviews with a variety of legendary investors reveal the characteristics and internal drive required to execute a host of investment strategies, across a variety of asset classes.'ĭavid Joseph, Head of DailyFX USA 'The tales and tribulations of some of the trading world’s best minds is what makes "Market Wizards" worthy of a spot on the list. Schwager, in which he reveals what he learnt in the 22 years after the book was first printed.
#Stock investment guide books update
The 2012 edition features an update from author Jack D. The book features interviews with 17 investing heavyweights including Bruce Kovner, Richard Dennis and Paul Tudor Jones, and covers markets including forex, stocks, futures and bonds.
These show that it’s not luck or rare personal attributes that determine success on the markets, but rather a solid methodology and the right mental attitude. While these stories make for an entertaining read, the book’s real value lies in the commonalities it reveals between the interviewees. These include the stories of a T-bond futures trader who turned $25,000 into $2 billion in a single day, and a hedge-fund manager who averaged an annual growth rate of 30% for 21 years. 'Market Wizards' is an anthology of interviews with the world’s best traders, in which they reveal what it is that separates them from the masses and tell the stories behind their biggest trading coups.
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