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Market Wizards: Interviews With Top Traders, By: Jack Schwager | SterlingTerrell.net

Market Wizards: Interviews With Top Traders, By: Jack Schwager

 

Market Wizards: Interviews With Top Traders
By: Jack Schwager
Wiley; 1 edition (February 7, 2012)
512 pages

As a trader, this is one of those books you wish you had read when you were 18. Quite simply, if you want trading advice from some of the best in the world, this is the book to read. Do not miss the wisdom found here.

One of my favorite quotes:

"What makes this business so fabulous is that, while you may not know what will happen tomorrow, you can have a very good idea what will happen over the long run. The insurance business provides a perfect analogy. Take one sixty-year-old guy and you have absolutely no idea what the odds are that he will be alive one year later. However, if you take 100,000 sixty-year-olds, you can get an excellent estimate of how many of them will be alive one year later. We do the same thing; we let the law of large numbers work for us. In a sense, we are trading actuaries."
--Larry Hite