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Hedge Fund Market Wizards

“Schwager’s unique ability to illustrate winning strategies and interweave personal backgrounds and emotional highs and lows makes Hedge Fund Market Wizards both a highly entertaining read and learning experience” – Stanley Druckenmiller

From the author of the bestselling and successful Market Wizards series comes another epic volume to complement the entire collection – Hedge Fund Market Wizards!

Jack Schwager is back, and this time, he interviews fund managers who consistently outperformed the market over the span of their careers with exemplary return-to-risk records.

His criteria for selecting the investors featured were:

(i) the managers had superior return / risk track records for significant length periods – usually (but not always) 10 or more years and often much longer

(ii) the managers were open enough to provide valuable advice about trading

(iii) the interviews provided sufficient color to allow for a readable chapter

Hedge Fund Market Wizards covers a wide assortment of fund managers with different trading / investment themes and styles – from Macro to Statistical Arbitrage to traditional Value Investing. Some of them are entirely top-down and fundamentally orientated while some only use technical analysis.

The book is well paced, and the questions are excellent – typical of Schwager’s ability to draw insights from the managers who were interviewed.

Here are the names of the hedge fund managers interviewed:

Colm O’Shea, Ray Dalio, Larry Benedict, Scott Ramsey, Jaffray Woodriff, Edward Thorp, Jamie Mai, Michael Platt, Steve Clark, Martin Taylor, Tom Claugus, Joe Vidich, Kevin Daly, Jimmy Balodimas, Joel Greenblatt

At the end of the book, Schwager distills the important general lessons learnt from the interviews with the market wizards. It provides a succinct summary of the traits that all successful investors possess and practice, despite the seemingly vast differences among the investing styles of all of them.

This book is highly recommended for anyone interested in investing. It is very readable and serves as a timeless classic for those who are on their quest for Alpha. It would delight the amateur trader, excite the finance enthusiast and refresh the veteran investor.