Autorentext

JACK D. SCHWAGER is a recognized industry expert on futures and hedge funds, and the author of a number of widely acclaimed financial books. He is currently the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to MarkeTopper Securities, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm that specialized in creating customized hedge fund portfolios for institutional clients. His prior experience also includes over twenty years as a director of futures research for some of Wall Street's leading firms.

Klappentext

Fascinating insights into the hedge fund traders who consistently outperform the markets, in their own words

From bestselling author, investment expert, and Wall Street theoretician Jack Schwager comes a behind-the-scenes look at the world of hedge funds, from fifteen traders who've consistently beaten the markets. Exploring what makes a great trader a great trader, Hedge Fund Market Wizards breaks new ground, giving readers rare insight into the trading philosophy and successful methods employed by some of the most profitable individuals in the hedge fund business.

• Presents exclusive interviews with fifteen of the most successful hedge fund traders and what they've learned over the course of their careers
• Includes interviews with Jamie Mai, Joel Greenblatt, Michael Platt, Ray Dalio, Colm O'Shea, Ed Thorp, and many more
• Explains forty key lessons for traders

• Joins Stock Market Wizards, New Market Wizards, and Market Wizards as the fourth installment of investment guru Jack Schwager's acclaimed bestselling series of interviews with stock market experts
  A candid assessment of each trader's successes and failures, in their own words, the book shows readers what they can learn from each, and also outlines forty essential lessons-from finding a trading method that fits an investor's personality to learning to appreciate the value of diversification-that investment professionals everywhere can apply in their own careers.

  Bringing together the wisdom of the true masters of the markets, Hedge Fund Market Wizards is a collection of timeless insights into what it takes to trade in the hedge fund world.

  Inhalt

  Foreword ix

  Preface xiii

  Acknowledgments xvii

  Part One Macro Men 1

  Chapter 1 Colm O'Shea: Knowing When It's Raining 3

  Chapter 2 Ray Dalio: The Man Who Loves Mistakes 47

  Chapter 3 Larry Benedict: Beyond Three Strikes 77

  Chapter 4 Scott Ramsey: Low-Risk Futures Trader 103

  Chapter 5 Jaffray Woodriff: The Third Way 129

  Part Two Multistrategy Players 159

  Chapter 6 Edward Thorp: The Innovator 161

  Chapter 7 Jamie Mai: Seeking Asymmetry 223

  Chapter 8 Michael Platt: The Art and Science of Risk Control 261

  Part Three Equity Traders 285

  Chapter 9 Steve Clark: Do More of What Works and Less of What Doesn't 287

  Chapter 10 Martin Taylor: The Tsar Has No Clothes 323

  Chapter 11 Tom Claugus: A Change of Plans 359

  Chapter 12 Joe Vidich: Harvesting Losses 385

  Chapter 13 Kevin Daly: Who Is Warren Buffett? 405

  Chapter 14 Jimmy Balodimas: Stepping in Front of Freight Trains 423

  Chapter 15 Joel Greenblatt: The Magic Formula 451

  Conclusion 40 Market Wizard Lessons 489

  Epilogue 507

  Appendix A The Gain to Pain Ratio 513

  Appendix B Options-Understanding the Basics 515

  About the Author 519

  Index 521