This week, we speak with Jack Schwager, author of various Market Wizard books. He is also the founder of Fund Seeder, a platform designed to match undiscovered trading talent with capital worldwide. His latest book is “Unknown Market Wizards: The best traders you’ve never heard of.”
He explains his process of interviewing traders: He spends a full day or two with them, tape recorder running, having a conversation, and firing questions at the traders, He has convinced reluctant traders to speak with him by giving them final edit on their chapter to correct or counter anything. Other than minor factual corrections (dates, locations, names) no one has objected to his analysis of their trading methodologies or track record.
The traders Schwager speaks with all have put up eye-popping performance numbers using very different approaches. Markets may have changed, but they are a puzzle to be deciphered. Those who figure out the key find great riches await them. But before you give up your day job, understand how daunting the odds are: the vast majority of speculative traders go bust.
You can stream and download our full conversation, including the podcast extras on iTunes, Spotify, Google, Bloomberg, and Acast. All of our earlier podcasts on your favorite pod hosts can be found here.
Be sure to check out our Masters in Business next week with Chamath Palihapitiya, founder of Social Capital. After a career as an engineer and team leader at AOL, Facebook, and Slack, he became one of the more successful VCs. He earned the nickname “SPAC King” for numerous successful deals he has done, and today is a part-owner of the Golden State Warriors.
Jack Schwager Authored Books
Market Wizards: Interviews with Top Traders by Jack Schwager
The New Market Wizards: Conversations with America’s Top Traders by Jack Schwager
Hedge Fund Market Wizards: How Winning Traders Win by Jack Schwager
Unknown Market Wizards: The best traders you’ve never heard of by Jack Schwager
Jack Schwager Fave Books
Influence, New and Expanded: The Psychology of Persuasion by Robert Cialdini
The River of Doubt: Theodore Roosevelt’s Darkest Journey by Candice Millard
Endurance: Shackleton’s Incredible Voyage by Alfred Lansing