Unknown Market Wizards: The best traders you've never heard of Paperback – November 7, 2023

This is the first book by Jack Schwager that I have read, and I immediately bought everything else he's ever written.I read roughly 50-75 books per year, with about 30 being finance-related books, so I'm no stranger to this type of content. Some books capture our hearts with mesmerizing prose, some hook us with larger-than-life characters, this book does it with nothing more than authenticity. And maybe more than any other finance book I have read recently, Schwager lit a fire under my feet and made me want to be a better person. Not a better trader (there's little hope for that /s), but a better person.Wallstreet is famously elitist. When I read about Jim Simmons in The Man Who Solved the Market, I was blown away by the intellectual behemoth that leveraged their deep mathematical insights into the most profitable hedge fund ever. When I read about LTCM in When Genius Fails, I felt tiny in comparison to such megalithic minds (the likes of which I know I could never be). When I read Unknown Market Wizards, I saw a version of myself that I would like to be.This book is full of success stories from normal people. Most the traders interviewed in this book did not come from insane money or an uncommon educational background, they were all real people. Real people who obtained nearly unfathomable success (and therefore freedom) by sheer willpower and focus. While reading this book, my mind constantly lingered on an old Thoreau quote, "I know of no more encouraging fact than man's unquestionable ability to elevate the soul by means of conscious endeavor."Each trader interviewed was emphatically clear: success is the byproduct of hard work and focus (dedication). The sentiment was ubiquitous, they were all successful because they found their own way of trading, and they did it through trail and error, leveraging nothing by their attention. Furthermore, each trader also maintained the importance of responsibility. When they made a mistake, it was exactly that, THEIR mistake. Not the high-frequency traders' fault for pushing out the institutional traders, not the hedge funds' fault nor the market makers fault. Their shortfalls were their own fault and thus they could overcome their failures by studying them and learning.If you're anything like me, you likely feel as though you're capable of 'great' things. This book, more than anything, motivated me to live a more disciplined life and to refuse to predicate my success (or failures) on things outside of my control. This book inspires diligence and introspection, two things which often go overlooked when we are taught about the Warren Buffetts' or the Stanley Drukenmillers' of this world. You don't have to be larger than life to win, you just have to be dedicated.A note on the author -- Schwager is the perfect man for the interview format this book takes. He is clearly knowledgeable and uses this knowledge to further the conversation and elucidate the points which ought to be elucidated. Not once did I feel like he was talking over a trader (even when I got the sense that he knew more than the trader) or even eluding to the trader being wrong in any way. Jack was nothing but benevolent and encouraging. His questions were refreshing and I gained just as much insight from them as I did the answers that the 'Unknown Market Wizards' provided. I'm grateful for his wherewithal to put a synopsis at the end of the book with all the major points touched upon throughout each interview.Its easy to tell that this book was written for ME, the reader. Jack did not set out to paint a picture of world that doesn't exist, he aimed at showing things as they are (and he nailed it). I read all 300+ pages of this book in a day and a half, and I plan on reading every other Market Wizard book this week. I'm hooked.Great book, great quality, and great value. Could not recommend more

Excellent. All traders need to read.

Definitely interesting and fun to see all the ways that traders make consistent money in the markets. That being said, there were too many traders with similar methodologies and traders that even knew each other and traded together. I was expecting more of the rogue trade-from-home types that were self-taught and didn’t actually work in the industry, based on the title of the book.I also felt the political opinions were random and unnecessary. Especially the one in Pavel’s chapter. 🤷🏼‍♂️Still really good and entertaining though. Finished it within 2 weeks.

Well written and entertaining with a ton of insight and applicability.

The Market Wizard Series is THE collection of books which have 100% changed the course of my life and career (Yes, one day I hope Jack interviews me for his next book - Please don't retire writing by then; give me max 2 years).I have been waiting for this book since I first found out about it in 2018. I even met Jack and Peter Brandt. I didn't even know who Peter was till I met and saw his presentation. I was just blown away. Funny thing is Jack mentioned a "trader" during his conclusion portion of the interview in his previous Market Wizards book and I am assuming it is Peter Brandt. Jack has known him for a while. I knew Peter was going to be interviewed for this book after meeting him in person and I have been waiting anxiously to read this interview.This book is filled with amazing traders and is the most unique book of the series. I am reading about traders who made it in the markets by using the most unconventional ways of trading. It is quite mind blowing to see this. These Market Wizards are still trading their style which is just epic. I have been reading non stop ever since the book got released - I have Audibook, Kindle and Hardcopy. Yes all 3. Why? Because I love Market Wizards books and I STUDY them anytime I want, anywhere I go.If you always wanted to know how some traders make it big and you want to become a Market Wizard yourself - Read this book and all his other books in the Market Wizards Series.Yes, I do personally know a few of the Market Wizards profiled in his books - All have read his books.This book and the entire series is absolutely legendary. Jack's book will stand the test of time.Very grateful to you Jack for writing this book for all of us.Thank You,Your Next Market Wizard to be interviewed by you

I followed the buildup of the much-anticipated release of this, the 5th book in the 'Market Wizards' series. It landed on my Kindle on Tuesday and I devoured it. Jack is a master of his craft and put a lot of time and passion into this. I have read all the books in the series and have enjoyed a long trading career, yet I found this book extremely useful. I could relate to a lot of what was being spoken about, yet the book filled with so many additional insights. I underlined a lot of sentences, including Jack's take-outs (in the summary sections at the end of each chapter). My favorite chapters were: Peter Brandt, Richard Bargh and Chris Camillo. This, however, is a personal preference related to my own trading style. Thanks for including Peter Brandt - he is just an incredible individual with amazing humility and profound, helpful advice. Jack did well to include a diverse range of traders from all parts of the world, each with their own style. I am about to do my debrief of the learnings and the physical copy is en route from Amazon too in order to fill its place on my trading bookshelf!