文档介绍：Stock Market
WIZARDS
Interviews with America’s
Top Stock Traders
Jack D. Schwager
In memory of my mother, Margaret Schwager, loved by all
who knew her for her kindness, empathy, and sincerity.
and
In memory of my brother, Kerwin Farkas, deeply loved by
family and many friends whose support never waned—
a reflection of a life well lived.
CONTENTS
Author’s Note to the Paperback Edition v
Acknowledgments vii
Prologue: An Inauspicious Beginning ix
Stuart Walton:
Back from the Abyss 1
Steve Watson:
Dialing for Dollars 34
Dana Galante:
Against the Current 56
Mark D. Cook:
Harvesting S&P Profits 79
Alphonse “Buddy” Fletcher Jr.:
Win-Win Investing 114
Ahmet Okumus:
From Istanbul to Wall Street Bull 136
Mark Minervini:
Stock Around the Clock 160
iv CONTENTS
Steve Lescarbeau:
The Ultimate Trading System 184
Michael Masters:
Swimming Through the Markets 206
John Bender:
Questioning the Obvious 222
David Shaw:
The Quantitative Edge 243
Steve Cohen:
The Trading Room 266
Ari Kiev, .:
The Mind of a Winner 280
Wizard Lessons 293
Appendix: Options—Understanding the Basics 319
Index 323
About the Author
Credits
Cover
Copyright
About the Publisher
AUTHOR’S NOTE
TO THE PAPERBACK EDITION
The interviews for this book were conducted from mid-1999 through
early 2000—in other words, just before the major top in the stock
market (March 2000). Since then, the S&P 500 has been nearly
halved, while the Nasdaq has lost nearly three-quarters of its value
(as of the end of September 2002).
Thus readers of these interviews are likely to think: “Yes, but
how have they done lately?” Fair question.
In the revised edition, detailed answers to this question have
been provided at the end of each chapter, along with short follow-
up interviews, focusing on the experience of the traders during this
protracted bear market.
v
ACKNOWLEDGMENTS
Although