stocks

As one of the included "wizards" I suppose my opinion is biased. But know this. It was because of Jack's second book "The New Market Wizards" that I got interested in trading. His newest book is every bit as good. These books are for the trader who wants to get to the next level of success. I was amazed at how much certain traders revealed about how they traded. There's no question that I'll be studying certain subjects that were discussed. All very successful traders have certain things in common and one is they're all very analytical. Jack has an ability to tap into how a person thinks about the markets. I found the book very motivational in that I feel I need to continue to perform at a very high level to justify my inclusion. Readers can see how great traders make decisions and ask themselves if they have the ability to be as decisive and disciplined as the top traders. I read "Stock Market Wizards" from cover to cover and consider all three of Jack's books along with others required reading. I've read his first two at least tree times. If you're a dabbler in the market, don't bother. If you're serious about making trading a living you have to own this work.

I think the first two Market Wizards books are classics, I really like Schwager as a writer, and I really really really wanted this book to be as good. I resisted coming to the same conclusion as the other 2-or-3 star reviewers as long as I could, but you know what? Sadly, they're right. The first Market Wizards book is completely indispensable. The second, it's true, was not as good overall - but half of it was. This book isn't in the same league. The best I can call it is light entertainment, for those of us who find books about the markets entertaining. To Schwager's credit, his writing is consistently clear and readable. (To appreciate this better, take a look at the slapdash Market Wizards knockoff, "The Best: Conversations with Top Traders", which contains a few insights scattered amidst a great deal of repetition and incoherence.) But not only do most of the traders interviewed here not have nearly the track records of the original Market Wizards; they don't seem to have the same substance or depth either. There are no minds here of the calibre of an Ed Seykota or a Jim Rogers, just to name two. (I mean, of course, judging solely by these interviews). Not only that, but several display a distasteful absence of class. (I'm not talking about social class, I'm talking about that elusive quality of graciousness which makes a successful person seem deserving...) Nonetheless, I did enjoy reading several of the interviews, for example those with Fletcher and Galante.

The highly anticipated 'update' to the Wizard series.

Some problems:

- Some of the interviewees weren't really traders!?!??!
- Expected more 'modern' trading info. For example, what about some discussion on how technology enhances or is used by day traders who trade from home on private accounts?

Nonetheless a good book:

- Great writing style. I just love it. It's easy to read and has great clarity.
- Been waiting for aaaaaaaages for this update, and it hasn't disappointed.

Definitely worth reading if you're into the previous 2 wizard books.