From bestselling author and investment expert Jack D. Schwager, you can now get the follow-up to his first bestseller “The Market Wizards”, where some of the best investment experts reveal how they have consistently beaten the market over a longer period.
Author: Jack D. Schwager
Subjects: (1) Finance, (2) Trading, (3) Biography
Year: September 30, 2008 (1st edition)
Number of Pages: 608
Language: English
Publisher: Wiley
Summary
“The New Market Wizards” is the sequel to Jack D. Schwager’s first acclaimed (bestseller) book “The Market Wizards”, in which he interviewed a plethora of super traders and spectacular winners across various asset classes and investment styles. You can find our review of his first book, “The Market Wizards”, here. Like its predecessor, “The New Market Wizards” is a collection of interviews with successful traders and investors, covering a wide range of topics, including their backgrounds, trading philosophies, and approaches to risk management.
One of the key themes in “New Market Wizards” is the importance of adaptability in the financial markets. Many of the traders profiled in the book discuss the need to be flexible and open to new ideas and to be able to adapt to changing market conditions.
Another important theme is the role of technology in the financial markets. The traders interviewed in the book discuss how advancements in technology have changed the way they trade and how they use technology to gain an edge in the markets.
Overall, “New Market Wizards” is a valuable resource for traders and investors who want to learn from the experiences and insights of successful practitioners in the field. It provides valuable lessons on how to navigate the ever-changing financial markets and achieve long-term success as a trader or investor.
As with “The Market Wizards”, the real value of “Market Wizards” is in the individual pieces of valuable information that each expert provides, which can be implemented in one’s own approach to the financial markets. In addition, the conversational format means that the book is relatively interesting all the way through. However, I would point out that the book is over 500 pages, which makes it a book that requires a little extra energy to get through, but it is well worth it considering the valuable information.
If you already have your own investment process, and way of doing things, this book is definitely recommendable as a supplement, where you can steal information from the individual chapters. But if you are relatively new and looking for information that can help build an investment framework, there are probably other books I would start with. In any case, I would definitely recommend reading the book at some point, as you end up with nuggets of wisdom from some of the best investment experts in the world, which in itself is valuable.
Rating
We have chosen to give “The New Market Wizards” the following rating:
Overall rating: ★★★★☆
Overall, it is a highly recommended book where you get the opportunity to learn different aspects of the investment world from some of the most competent investment experts.
Style: ★★★★☆
It is a relatively easy book to understand in terms of language. It is presented in interviews, which definitely aids in comprehension.
Structure: ★★★★★
The structure is perfect. Chapters are divided based on different investment categories, making it relatively easy to understand where the author wants to lead the reader.
Level: ★★★☆☆
It is evident that when you take some of the world’s best investment experts and start discussing their investment approaches, it will involve language and terms that require prior knowledge. This means that if you are a beginner in this world, it will require extra time to get through the book.
Technical: ★★★☆☆
Some of the chapters can become a bit technical, especially when it comes to explaining why the experts acted as they did at a specific time and how they structured their investments.