“Market Wizards: Interviews with Top Traders” by Jack D. Schwager is a classic book that features interviews with some of the most successful traders of our time. Here is a chapterwise brief summary of the book:
Chapter 1: “Making It in America” – This chapter features an interview with Michael Marcus, who started as a commodity broker and became one of the most successful traders at Commodities Corporation.
Chapter 2: “The Art of Survival” – This chapter features an interview with Bruce Kovner, who started trading with borrowed money and became one of the richest men in America. He discusses the importance of risk management and the psychological aspects of trading.
Chapter 3: “The Midas Touch” – This chapter features an interview with Richard Dennis, who made a fortune trading futures and then started a program to teach others his trading methods.
Chapter 4: “A New Breed of Trader” – This chapter features an interview with Paul Tudor Jones, who made a fortune trading futures and became known for his aggressive trading style.
Chapter 5: “The Alchemist” – This chapter features an interview with Gary Bielfeldt, who made a fortune trading options and futures and discusses his approach to risk management.
Chapter 6: “The Battle for Sugar” – This chapter features an interview with Blair Hull, who made a fortune trading options and discusses his use of statistical models to predict market movements.
Chapter 7: “The Sky’s the Limit” – This chapter features an interview with Tom Baldwin, who made a fortune trading Treasury bonds and discusses the importance of discipline and self-control in trading.
Chapter 8: “The Man Who Moves Markets” – This chapter features an interview with Mark Weinstein, who made a fortune trading commodities and discusses his approach to market analysis and risk management.
Chapter 9: “The Power of Positive Thinking” – This chapter features an interview with William O’Neil, who founded the investment research firm, Investor’s Business Daily, and discusses his approach to stock market investing.
Chapter 10: “The Psychology of Trading” – This chapter features an interview with Marty Schwartz, who made a fortune trading stocks and futures and discusses the psychological aspects of trading.
Overall, “Market Wizards” offers valuable insights into the approaches and strategies of some of the most successful traders of our time, and provides valuable lessons for traders of all levels.