Jack Schwager presents: 15 Hedge Fund Market Wizards trading secrets & insights in their own words
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- Опубликовано: 22 май 2024
- 00:00 - Intro
00:34 - Interviewing top traders to learn from them.
The difference between Schwager's four Market Wizard books.
Markets have changed, but the typology of successful traders not.
04:18 - The Genius of Michael Platt (Bluecrest) and ED Thorp.
07:03 - Three of the 40 Market Wizard Lessons.
For Traders: 1.Find your own style 2. Be flexible.
For Investors: Volatility and risk are not synonymous.
14:04 - Ray Dalio's Bridgewater: How to consistently achieve outsized, uncorrelated returns
Jimmy Balodimas:The most unconventional of the successful traders
20:47 - Joel Greenblatt: Why value investing still works
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Matthias Knab meets Jack Schwager who unveils his fourth Market Wizards book: "Hedge Fund Market Wizards" with fascinating insights into 15 hedge fund traders who consistently outperform the markets -- all in their own words! While they all approach their field in radically different ways, each of them has brought new and unique insights and developed distinct strategies that have allowed them to repeatedly outperform the markets.
The book features:
* "Macro Men": Colm O'Shea, Ray Dalio, Larry Benedict, Scott Ramsey, Jaffray Woodriff
* Multistrategy Players: Edward Thorp, Jamie Mai, Michael Platt
* Equity Traders: Steve Clark, Martin Taylor, Tom Claugus, Joe Vidich, Kevin Daly, Jimmy Balodimas, Joel Greenblatt
* 40 essential lessons to be learned from the market luminaries
This Opalesque.TV BACKSTAGE interview further highlights:
* The difference between Schwager's four Market Wizards books
* Markets have changed, but the typology of successful traders not
* The genius of Michael Platt (Bluecrest) and Ed Thorp
* Three of the 40 Market Wizard Lessons - For Traders: 1. Find your own style 2. Be flexible 3. For Investors: Volatility and risk are not synonymous
* Ray Dalio's Bridgewater: How to consistently achieve outsized, uncorrelated returns
* Jimmy Balodimas: The most unconventional of the successful traders
* Joel Greenblatt: Why value investing still works
Jack D. Schwager is a recognized industry expert on futures and hedge funds, and the author of a number of widely acclaimed financial books. He is currently the co--portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to MarkeTopper Securities, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm that specialized in creating customized hedge fund portfolios for institutional clients. His prior experience also includes over twenty years as a director of futures research for some of Wall Street's leading firms.
For more details on the Hedge Fund Market Wizards book see the publisher's press release here: eu.wiley.com/WileyCDA/WileyTit...
fantastic interview. a tip for future videos: if you record about a minute or two of audio in the room when no one is talking and then add it over the sound of people talking, it'll be less jarring when a person stops talking--the audio won't go totally silent. That technique is called adding "room tone"; I learned about it while making short films in college.
Kool.qhjm.mmvlnlnnn
such an unbelievably important book.
Very well said selling insurance --selling options the rare event that Talibi speaks about. It happens more often than you think. Buying options -- options usually expire out of the money so they usually lose but you limit your losses are limited to the option cost. But the occasional win outweighs the limited losses because the profits can be inifinite ( at least with calls). The return can be asymptotic because as they approach the money the delta increases or the rate of return increases.
Fascinating insight into Ray Dalio and Bridgewater's search for the best diversification, namely market drivers that are truly uncorrelated trades.
I love that guy Jack that market wizards is a must read for inspiration!
Jack has truly read the mind of the best traders for everyone to learn from
Excellent insights presented ..
Good Traders Liquidate when wrong ..GREAT traders reverse.. !! AWESOME !!
Thanks for the feedback Chris, much appreciated
Matthias
Great questions from the interviewer and insightful answers from Mr. Schwager. Good job
many thanks for these quality interviews and your great website
Every financially successful individual must write a book on his journey, the mishaps and the unexpected good fortunes. They owe it to us wannabees.
@GD i pray to mullah everyfucking day, i love me some moneyyyyy
How are you doing nowadays ?
Thank you very much for the feedback!
Awesome music ending !! Great video... tks
Ur text book on technical analysis of the commodities and financial mkts is a great book to learn to trade the mkt
@ aqeel3344: Jack obviously answered this question right at the beginning of the video. He basically started to write the Market Wizards books in order to learn from the best.
That is correct Tony, Arnold was born in Southern Austria and I in Southern Germany, so for us German is the first language. I didn't make it to Hollywood though, just to Opalesque.TV ;-)
Great suggestion, thanks Nathan
learn from this 8:53 guys ;)
Risk is a distribution function as it is taught in statistics courses but volatility is just one single piece of information (second moment) about that very risk distribution above , hence risk of any investment always exist but volatility (SD) may or may not exist depending on the type of distribution function and if this distribution even exists
You are an exceptionally well interviewer
Hi Mathias . As far as reversing your position. This reminds me of the trade I put on last night. I was long gbp/jpy there has been a good support zone. So I set my stop below the support zone and also entered a limit order right below my stop {meaning short order if support is broken} My stop was hit my new position entered and due to the majority of traders being long with stops near mine along with short orders for a downside breakout in 5 minutes pound was down 100 pips.
Are you still trading ?
He's absolutely right about the challenge facing traditional trend-following models. They no longer work as well as they did before due to choppier conditions and false breakouts.
Are you still trading ?
Intriguing introspect into R.Dalio and Bridgewater Pure Alpha..My portfolios annualized net gains with Brevan Howard are the best..seems they have talent finding asymmetrical outcomes in equity others just cant match.
What are the names of the songs played in this video? Does anybody know? Thanks!
Sure. Long gets reversed to short, or short to a long position.
Didnt get it? If your long and find out your wrong - if your a good trader you liquidate, if your a great trader you liquidate and go short.
thank you for this video//
I did not catch what jack said on the great trader part. He said great traders liquidated when they are wrong.
Cool.
ok what's the fund's name please ?
the people who talk down here the supertraders in that book, not only they didn't read any page in that book, they wouldnt understand what is written even if they tried to read it, because you need to actually know trading before reading schwager book, that text is not for everyone
yet everyone can comment here on youtube, poor fools
@lafayette mitchell the interviews in the book are NOT about any methods or ''techniques'', you didn't even open a page in that book
Sure. For example long becomes short, short becomes long.
at 6:15 - 6:30 "he ( Ed Thorpe ) was using the B - S formula and making so much money , he didn't want to publicize it" -
That's what happens in the real world. All these people that want to 'sell' or teach you their secret of making money or winning in the markets AREN'T really making money in the markets..they are making money SELLING their idea of "making money in the market' to suckers like you. If they were really earning from the market, they wouldn't waste time to teach or sell their method or "technique" to anyone .
I agree on some levels, but its not true that successful traders wouldnt want to teach others how to trade.. its just that there are many sharks who actually know little and try to con so many.
Not true at all. Some people are making loads of money in obscurity. But desire some recognition. Look at Toby Crabel, he published a book, then realized that was a mistake and refused to reprint it. That book goes for upwards of $2000.
Exactly, very wise and true words, fuckers like Cameron Fous and Tim Sykes take advantage of peoples stupidity.
Wrong. Ed Thorpe is in a completely different industry than most 'Gurus'. Most gurus operate im the retail space, theres only so much money to be made due to capital limitations and selling courses can become a major income source for some. However hedge funds dont publicize because they are making hundreds of millions of not billions with theit secret formula. These are 2 completely different spaces.
Traders biggest enemy is trend flipping on A dime(e.g. 1H/lower time frame trend).Trend on 4H chart is the best trend guide for majority of forex traders( if one keeps trades for 2-5 days). By the time trader realizes that trend on daily chart is up, market has already gone up about 3-5 days & if you ask supercomputer for the mathematical odds, computer tells you that odds are negative right from the start.Trend based on the last 5-10,four hourly candles has enough players/juice behind it so that it would not flip on A dime, so trader has decent chance to make something without buying overpriced asset. We seek your wisdom?
10:00 !!!
Joel Greenblatt 3
wow that would hard to do. Reverse ?
Thats why you dont need to be a trader, but a great trader to do it ;)
? I fail to see the connection between how much I or you trade per day and what Mr. Schwager sais about great traders.
if your success trader why issue books ?
A note to Jack draw down verse percentage gains should not be looked at the same in the options markets especially just buying calls and puts. Due to the opportunity to gain several times your risk alters the relativity. I can risk 2% and bag several time my investment. Coming back from a drawdown even minimizing risk to do so can be much faster then the same percentage down trading stocks. So you can have drawdowns that may look worse then stock traders but in reality your trading is less risky
Jack Schwager, are you making any money on the markets ?
good traders liquidate. great traders reverse their positions.
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check his fund he's managing...!
So what he really is saying is go all in on Bitcoin?
I'd like to see theses expert traders start with $500 put in a room and try to trade with a retail account and not start with other peoples millions.
You can't turn 500$ into a lot of money anymore. You probably need to start with at least 100k in order to do something big.
Check out Mark Minervini, Jesse Stine, Dan Zanger, ...
Hahaha Awesome! love the Accent
sounded black-swanish somewhere there
lol if u are a trader u know it is very hard to reverse tour trade! I have met many traders in life plus myself, none have gone reverse the trades. It is easy to say than get it done.
By the time you try to reverse. The energy and courage it takes just to take losses is a handfull by itself already, and to reverse after that is too much for some people. I can relate. Dont know if we're on the same page here.
Legends brazil ?
My question is why do these pros who know so much about the market need to sell books for their money.
+Karim Byasse That's easy. Jack Schwager is a writing and research pro, so this is what he does. The people he writes about do not publish themselves.
Love looking at the cute girl sitting at the background :)
lol how much $ u have ever traded? think before u talk i traded least 100k per day
must take your winners and let ur losers run and come back
It's the opposite actually.
What about the scammer Al Brooks MD? He claims to be the greatest day trader of all time.
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