Jack Schwager is the author of the widely acclaimed financial books including the timeless series Market Wizard. Jack is also an industry expert on markets, hedge funds, and trading. He is the co-founder of FundSeeder – a platform designed to find undiscovered trading talent and connect successful traders with capital from investors.
Jack’s introduction to market
Jack was first introduced to markets after his graduation when he was looking for a job. With a Masters in Economics and Minor in Maths from Brown University and Brooklyn College of the City University of New York respectively, it was not difficult to get a job. He was recruited as a phenomenal analyst in the future research department which was completely new and unknown to Jack back then.
Jack was recruited by the research director to replace the analyst, who Jack refers to in the first chapter of his first book as Michael Marcus. This job eventually got him into writing his first journal. Throughout his life, Jack worked with multiple firms but kept on writing books all along his career. Gradually, he started writing books as the main job just before he joined FundSeeder. During this period, he wrote dozens of books.
Jack’s career of 40-years mainly revolved around working at different firms and simultaneously writing and publishing his books one after another. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm from 2001 to 2010. His prior experience includes 22 years as Director of Futures research for some of Wall Street’s leading firms, including the most recent one, Prudential Securities.
The Market Wizard and more:
Jack’s bestseller series Market Wizard is a compilation of interviews of several top traders across financial markets. The books talk about successful traders and their journeys in the making of tens, hundreds of millions of dollars a year. Is it their occult knowledge, years long experience, luck, or naturally gifted talent that make them the Mozarts of the markets?
Jack compiles interviews of these talents who differ in their way of thinking, market study, methodologies, and hence trading success. The goal of the book series is to share the secrets of these super-traders and their unprecedented success.
Some of the featured money-makers in Jack’s bestsellers include Bruce Kovner, Richard Dennis, Paul Tudor Jones, Michel Steinhardt, Ed Seykota, Marty Schwartz, Tom Baldwin, and more. Jack distils down the responses of these traders into a set of guiding principles to help a beginner be a trading star.
The books also feature true stories behind sensational trading coups including one trader who turned $30,000 into $80 million, the hedge fund manager who has been making an average of 30% returns every year for the past twenty-one years, and the T-bond futures trader who parlayed $25,000 into $2 billion in a single day!
30+ years of Market Wizard first edition:
It’s more than three decades since the first edition of Jack’s first book was released. Markets did change since then, so did specific techniques or systems that work best for the market trends. But the underlying core principles that ultimately lead to a successful trading stay the same throughout these years.
Jack also believes that though the growing role of algorithmic trading may have eliminated some market inefficiencies as sources of profitable strategies, and it may even have impacted the efficacy of some trading systems, the fundamental market behaviour remains unchanged.
In all his books, including Market Wizards: Interviews with Top Traders, Jack reveals the basic trading methodologies that fit individual personalities leading to successful trading. He also pinpoints reasons why most traders fail – they listen to "experts" and chase trading fads instead of doing the hard work of developing their own methodology.
Jack Schwager at Bull Run Summit:
At Bull Run Summit 2021, Jack Schwager joins us as an experienced writer and guide to successful trading methods. He talks about his latest book Unknown Market Wizards which follows the typical pattern of his previous books. What sets this book apart is that the featured leaders in this are individual traders running their own accounts. Although they are unknown to the investment community, these traders have achieved remarkable performance.
Schwager says, “I never thought I would again find traders whose records matched those of some of the traders in the first Market Wizards book. To my great surprise, some of the traders I found in writing “Unknown Market Wizards” may well have the best performance records I have ever encountered.”
At Bull Run Summit, Jack highlights the human side of trading with a dash of humour. Join Jack Schwager at Bull Run Summit from 23rd to 25th July. Book your slot at https://bullrunsummit.com.
Mahendra Kumar Jajoo is the Head of Fixed Income of Mirae Asset Investment Managers (India) Pvt Ltd. Jajoo has an experience of over two decades in the field of financial services, including 12 years of experience in Fixed Income funds management. He is responsible for supervising all debt schemes of Mirae Asset Investment Managers (India) Pvt Ltd.
Prakarsh Gagdani is the new age investor who believes that there are no shortcuts for success with money. As an investor, one has to have the basic principles that govern wealth the right way, and patience is certainly the key. He is the Founder and CEO at 5Paisa.com, India’s first listed fintech company.
Nikhil Kamath is a financial wizard and the Co-Founder of Zerodha, India’s first online brokerage firm in 2010. The bootstrapped startup which Nikhil started along with his brother Nithin has a valuation of over INR7000 crores making Zerodha the largest retail brokerage platform of the country.