The New Market Wizards is a book by Jack D. Schwager published in 1992. The format is very similar to his 1988 Market Wizards, with a new selection of interviews with super-traders.
As in the previous volume, Schwager starts with a frank discussion of his own trading experience, followed by a surprising diversion comparing Saddam Hussein's invasion of Kuwait with a trade that went wrong.
The rest of the book is broken into five parts including interviews with different types of traders and brief discussions of the lessons to be learnt from them, plus a part on trading psychology and a final part summarising the wisdom gained from all of the interviewees in 42 golden rules.
Famous quotes containing the word market:
“When General Motors has to go to the bathroom ten times a day, the whole country’s ready to let go. You heard of that market crash in ‘29? I predicted that.... I was nursing a director of General Motors. Kidney ailment, they said; nerves, I said. Then I asked myself, “What’s General Motors got to be nervous about?” “Overproduction,” I says. “Collapse.””
—John Michael Hayes (b. 1919)