In less than 200 pages, spanning into 23 chapters, this book—The little book of market wizards by Jack D. Schwager—tells you about the art of investing and how to adopt the practices of top professionals in your life. Do not treat this as a get rich guide, as Schwager does not promise you that. It is the work of a man who has managed some great hedge funds and has interviewed some of the most accomplished traders in the world, to frame this book with its telling and inspiring lessons.

For instance, cut to chapter nine, which is on ‘Discipline’. The lesson to learn from the author’s interaction with the wizards is that it is discipline that differentiates them from other traders in the market. One may argue this to be a very simplistic suggestion and being too obvious. But, read it to learn about Randy McKay, a very successful trader, who once lost millions over a few days just because he slackened a bit and let a losing position grow too large.

Understandably, each chapter focuses on a specific theme which is essential to understand to succeed in the markets. The detail is in the description of how all market participants can benefit by incorporating the related traits, behaviours, and philosophies of the Market Wizards in their own trading. The book is full of interesting anecdotes which makes for interesting reading laced with detailed trading messages and direct quotes from the market greats that resonate with the wisdom born of experience and skill.

A word of advice—do not rush into reading this book in one go—savour it over time. You willl have the time to pick some tricks on the way and use it when you invest.

Author : Jack D.Schwager

Publisher : Wiley India

Price : Rs299

olmdesk@outlookindia.com