The book details the true story of how Schwartz became considered one of the best traders in the world, and the tricks and techniques he used along the way. 'Pit Bull: Lessons from Wall Street’s Champion Day Trader' is a walk through of the career of Martin 'Buzzy' Schwartz, who earned the nickname 'Pit Bull' after years of successfully trading on Wall Street. Pit Bull: Lessons from Wall Street’s Champion Day Trader If you want to understand more about why the global economy is in the shape it is, this is a must-read – and re-read for those that haven’t touched it in years.'Ĭhristopher Vecchio, DailyFX currency strategist Martin Essex, DailyFX content manager 'Twenty-five years later, Jim Rogers’s book still reveals insights into the populism sweeping Western economies. Why was it chosen? 'This is one of those rare books that combines investment advice with adventure, written by one of the towering figures in the financial industry.' It encourages adventure in both experiences and investment opportunities – so much so that Rogers has been heralded as the 'Indiana Jones of finance' by Time magazine. For traders, the book provides an interesting take on the future of international economies and gives advice on what opportunities can be found in foreign markets. He analyses the market value of each nation, in order to paint a picture of the state of the global economy.Ī mix between travel writing and investment advice, the book has piqued the interest of motorcycle enthusiasts and market participants alike. It follows the Wall Street legend Jim Rogers – co-founder of the Quantum Fund – throughout his 22-month motorcycle ride through 52 countries. 'Investment Biker: Around the World with Jim Rogers' explores the world of finance in a completely unique way. In other words, it’s 'collecting pennies in front of a steamroller' for beginners. John Kicklighter, DailyFX chief strategist 'This book is volatility selling 101. It draws many parallels to so many tipping points in the global financial system.
Why was it chosen? 'The story is very compelling. First published in 2000, it foreshadowed the 2008 financial crash and continues to serve as a reminder of what can happen when complacency enters a trader’s mindset. The book is based on interviews with former LTCM employees, the Federal Reserve, banks involved in the rescue and one of the firm’s founding partners. The second part, of course, charts its downfall as the models developed by the 'geniuses' fail to keep pace with the ever-changing markets. 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.
INTRO STOCK TRADING TEXTBOOK 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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