Summary of Jack D. Schwager's The Little Book of Market Wizards

Please note: This is a companion version & not the original book.

#1 On April 15, 1959, Bob Gibson played his first major league game, coming in as a relief pitcher for the Cardinals. He gave up a home run to the very first batter he faced. In the next inning, Gibson gave up another home run. He was sent back to the minors after that game.

#2 The story of Michael Marcus is a classic example of how some of the most successful traders started with failure. Marcus was a college junior who was persuaded to trade futures by a friend of a friend. He lost money on every trade, and when his adviser came up with the idea to trade contracts based on corn blight fears, Marcus lost his entire $30,000.

#3 Marcus learned to combine his innate talent as a trader with experience and risk management, and was incredibly successful. He took a trading job at Commodities Corporation, and in about 10 years’ time, he turned those modest allocations into $80,000,000.

#4 Many of the Market Wizards had a difficult start in their careers, with some losing a lot of money. However, they were persistent and learned from their mistakes.

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E-raamat: 19. aprill 2022