Now, Jack’s back — and he’s got a new book, “Unknown Market Wizards: The best traders you’ve never heard of.”
The premise of this book is unique. It focuses on “unknown” individual traders as opposed to the institutional traders featured in his previous books.
In today’s episode, co-hosts Kim Ann Curtin and Stephen Johnson are picking Jack’s brain about the new book and learning plenty of lessons along the way. Listen and learn — the stories in this book might just prompt an ‘aha’ moment in your trading!
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About Jack Schwager
In the world of finance writing, Jack Schwager is kind of a big deal.
SteadyTrade co-host Tim Bohen considers his original “Market Wizards” book a must-read for all traders. Jack was even featured in Kim’s book, “Transforming Wall Street: A Conscious Path for a New Future.”
Jack’s entry into the world of finance was the result of happenstance. He’d just finished grad school and he needed a job. The first promising one he found? A market/research analyst position on the futures side.
He went with it. He became fascinated with the world of finance and how it offers the opportunity for people to chart their own path. This led to his best-known work…
Bestselling Book Series
In the late 80s, Jack wrote the book that would become the cornerstone of his career: “Market Wizards: Interviews With Top Traders.”
He connected with prominent figures in the world of finance, picked their brains, and tried to see if top traders had anything in common.
The book was a runaway hit and led to a series of like-minded titles.
Making Friends in Finance
While Jack’s perhaps best-known as a writer, that’s not all he does. He’s also the co-founder and Chief Research Officer of FundSeeder, a firm that “seeks to find undiscovered trading talent worldwide via its trader platform.”
And he’s also worked at hedge fund advisory firms and spent more than two decades as a director of futures research for some of Wall Street’s leading firms.
He’s made a few friends along the way. It was these connections that led to the latest addition to his Market Wizards series…
“Unknown Market Wizards”
The “Wizard” tradition continues … But this time, there’s a twist.
For this book, instead of finding prominent hedge funders, Jack interviewed individual traders using their own accounts to build wealth.
They may be largely unknown to the investment world, but these traders have achieved great things. Here are some examples of stories from the book:
- A trader who turned a $2,500 account into $50 million.
- A trader who developed a unique approach to trading using neither fundamental nor technical analysis — yet still managed to make tens of millions of dollars.
- A trader who has developed a system that has earned them an average annual return of 337% — for more than a decade in a row.
And so many more…
Why This “Market Wizards” Book Matters for Traders
Jack Schwager’s latest book is perhaps his most relatable offering for the average SteadyTrade listener.
Most listeners are individual traders starting with smaller accounts. This book offers an inspirational example of how to grow a small account, think for yourself, and chart your own path.
What You’ll Learn
Here are some of the topics that Jack discusses with Kim and Stephen on the podcast:
- What defines a brilliant trader … and how can you adopt some of their key traits?
- How can the average trader develop an edge?
- Is ‘going with the flow’ of the market really the wisest path, or is there a benefit to a contrarian approach?
- Why flexibility is SO important for traders — and how to train yourself to lose gracefully.
- How to bypass the FOMO and avoid distraction.
Plus, learn why cutting losses is so important — or as Jack once famously wrote, “Being wrong is acceptable, but staying wrong is totally unacceptable.”
Ask Us Anything!
Are you a fan of Schwager’s “Market Wizards” series? If you’ve got a question or comment, please reach out!
Remember: if we select your question or comment as an on-air topic, you could win a SteadyTrade mystery gift box. Leave a comment below or on YouTube!
Thanks for tuning in to the SteadyTrade podcast. Stay tuned for weekly episodes featuring the hottest topics for aspiring traders.
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Kim Ann Curtin