S01E14: “Profiling the Profiler” with Jack Schwager
Some books take legendary status because of the breadth and depth of the content and their ability to become a guiding force for their readers. On one end, we have books like “The Intelligent Investor” and “Security Analysis” by Benjamin Graham which are always on investors’ reading lists. Similarly, if you ask the traders, two books are always on their list. One is “The reminiscence of Stock Operator“ and the other one is “The Market Wizards“. Almost every market participant who has read the book has enjoyed it. The book has inspired and guided millions of traders & what differentiates these books from other profiling attempts – is the amount of depth that the interviewer goes into. Today, we have with us the Man behind Market Wizards – Mr Jack Schwager.
Mr Schwager is a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books like:
Market Wizards (1989, 2012)
The New Market Wizards (1992)
Stock Market Wizards (2001)
Hedge Fund Market Wizards (2012)
Market sense & Non sense (2012)
A Complete Guide to the Future Market (1995)
Getting started with technical analysis (1999)
He is one of the founders of FundSeeder, a platform designed to find undiscovered trading talent worldwide and connect unknown successful traders with sources of investment capital. Previously, Mr Schwager was a partner in the Fortune Group (2001-2010), a London-based hedge fund advisory firm. His prior experience also includes 22 years as Director of Futures research for some of Wall Street’s leading firms, most recently Prudential Securities.
Without much delay, let’s profile the profiler:
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Jack Schwager is a recognized industry expert in futures and hedge funds and the author of a widely acclaimed financial book, “Market Wizards”
[4:00]: The transition from a Fundamental Analyst to a Technical Analyst.
[6:00]: Does Fundamental analysis contradicts Risk Management ?
[11:00]: Can one person wear both the hats of Trader & Investor ?
[17:30]: Views on averaging up & averaging down ?
[24:00] : Views on achieving Ed Thorp kind of returns ?
[27:00]: “The best trader that I ever interviewed”
[29:00]: Don’t judge things on Returns alone – without understanding the underlying Risks taken.
[36:30]: Are great traders born or is it a skill that can be cultivated ?
[43:00]: Is there a universality in technical strategies & are they equally valid in all markets of the world ?
[46:30]: Where to look for inefficiencies while developing an indicator ?
[1:00:30]: Process followed to interview the Legends of Investing.
[1:03:00]: What things that didn’t worked during previous interviews ?