Stock Market Wizards: Interviews with America's Top Stock Traders

This decade has witnessed the most dynamic bull market in U.S. stock history, a collapse in commodity prices, and dramatic failures in some of the world's leading hedge funds. How have some traders managed to significantly outperform a stock market that, until recently, moved virtually straight up? This book will feature interviews with those traders who achieved phenomenal success, from an Ohio farmer who enjoyed triple-digit returns to a Turkish émigré who transformed a $16,000 account into $6 million, to professional hedge-fund managers such as Michael Masters of Capital Management. Today, the action is on the stock market. This book will be a must-have for that sector, as well as for the legions of individuals that eagerly bought Market Wizards. Publishers Weekly In 1989, professional futures trader Schwager wrote the electrifying Market Wizards, featuring incisive interviews with some of the world's most successful traders, discussion of a wide variety of techniques and markets, and a detailed chronicle of various traders' track records. It quickly became a bestseller. Five years later, Schwager published The New Market Wizards, less detailed and with more generic interviews. Now, six years after, the third installment continues this unfortunate trend. The subjects of Schwager's new interviews are less than impressive, and his questions have gone soft. To make matters worse, subjects were allowed to amend their words later, resulting in many lifeless, boilerplate responses. Instead of analyzing specific trading decisions, theories or track records, subjects spend most of the interviews talking about their childhoods or disparaging ex-bosses and co-workers. Even this dirt fails to engage the reader, since Schwager has changed the names of the maligned parties. Only the author's brief, energetic commentaries on the interviews display the insight of Schwager's earlier work. Inexperienced traders may benefit from some of the platitudes in these interviews, but experienced traders already know to cut their losses. (Jan. 31) Forecast: Bolstered by an author tour (with guest appearances by some of the "wizards") to New York City, Chicago and Boston and a syndicated radio feature, Schwager's third book may get some initial sales from fans of Market Wizards and those looking for more up-to-date trading information. Poor reviews and word-of-mouth, however, probably will hurt this book's sales, as they did the previous sequel. Copyright 2000 Cahners Business Information.