THE NEW MARKET WIZARDS

CONVERSATIONS WITH AMERICA’S TOP TRADERS

JACK D. SCHWAGER

TO MY FAMILY

Jo Ann

Daniel

Zachary

Samantha

Who are all very special to me

With love

Contents

Epigraph

Preface

Prologue

PART I   Trading Perspectives

Misadventures in Trading

Hussein Makes a Bad Trade

PART II   The World’s Biggest Market

Bill Lipschutz: The Sultan of Currencies

PART III   Futures—The Variety-Pack Market

Futures—Understanding the Basics

Randy McKay: Veteran Trader

William Eckhardt: The Mathematician

The Silence of the Turtles

Monroe Trout: The Best Return That Low Risk Can Buy

Al Weiss: The Human Chart Encyclopedia

PART IV   Fund Managers and Timers

Stanley Druckenmiller: The Art of Top-Down Investing

Richard Driehaus: The Art of Bottom-Up Investing

Gil Blake: The Master of Consistency

Victor Sperandeo: Markets Grow Old Too

PART V   Multiple-Market Players

Tom Basso: Mr. Serenity

Linda Bradford Raschke: Reading the Music of the Markets

PART VI   The Money Machines

CRT: The Trading Machine

Mark Ritchie: God in the Pits

Joe Ritchie: The Intuitive Theoretician

Blair Hull: Getting the Edge

Jeff Yass: The Mathematics of Strategy

PART VII   The Psychology of Trading

Zen and the Art of Trading

Charles Faulkner: The Mind of an Achiever

Robert Krausz: The Role of the Subconscious

PART VIII   Closing Bell

Market Wiz(ar)dom

A Personal Reflection

Appendix

Glossary

Acknowledgments

About the Author

Other Books by Jack D. Schwager

Copyright

About the Publisher