Larry,
I am just finishing up Market Wizards by Jack Swager. Its a fairly interesting book about traders, most of which are achieving 100%+ gains in the market. However I noticed that the interviews occurred in the middle of the bubble when a lot of people were attaining 100% gains. Notwithstanding that there are many good principles that these traders use, I was wondering if you happen to know how any of them have fared since the bubble burst? There was one lady that mostly trades on the short side and I suspect she's probably doing great, but I wonder about some of the others.

Gary

Which book did you read, Gary? "Market Wizards" was originally published in 1989. "New Market Wizards" was published in mid-1995 (well before the bubble). If it was only "fairly interesting" it couldn't have been either one of those books. I think there was one specifically about stock market wizards that I haven't read, but I understand that it's not nearly as good as the other two. What is the exact title of the one that you read?

Larry

I read the revised and updated Stock Market Wizards book and thought it was very good. Especially if you have read Trade Your Way to Financial Freedom by Van K Tharp. Most of the traders use techniques such as position sizing/money management, controlled exits...but they ALL have trading systems that are unique to their individual personalities. When they ventured away from their systems due to investor complaints or tips they lost money.

The revised book talks about how everyone has done for 2.5 years after the beginning of the bear market (April 2000) Most people's returns are lower, but are far better than the S&P, and most people credit that to cutting losses short and letting profits ride. Dana Galante's fund was up 89% or 119% before fees. She still is on the short side of the market, but claims that it is much harder to find stocks to short in the bear market because most stocks have lower valuations.

Kevin

For the benefit of anyone reading this post, here are the market wizard books by Jack Schwager that I'm familiar with...

1. Market Wizards: Inverviews With Top Traders

2. The New Market Wizards: Conversations With America's Top Traders

3. Stock Market Wizards: Interviews With America's Top Stock Traders

I suspect that y'all are talking about #3. I'm sure it's a worthwhile book, but the one that is absolutely a must and absolutely indispensable is the original one, #1 - "Market Wizards: Interviews With Top Traders". The hardcover was published in 1989. The paperback was published in 1990.

I just want to make sure that we're talking about the same book. I suspect the reason that the first one is so good is that in that one he was able to interview the very best in the business.

Larry

I just finished the latest Market Wizards book (paperback) a few weeks ago. It includes updates since the crash. It's a great read. Especially when I'm traveling.

I liked the comment that he made about a major portion of the people interviewed enjoyed playing poker. This fits me also. I'm excited that I may have a quality in common. (Although I'm not thrilled reading about the number of hours each one works a week plus the lack of vacation time.)

Dave

I read the 3rd book in the seris. Maybe I was misunderstood when I said it was fairly interesting. I thought it was a very interesting book, I was just wondering if the methods used by those particular traders still worked for them post bubble.

Gary

P.S.
I will now go to the library and find the first book. Thanks Larry, because of you I have a never ending seris of books to read