Episode description
Episode description
Today, we welcome legendary author Jack Schwager onto the show to discuss his new book ‘Unknown Market Wizards’ and a range of topics such as: what timeframe makes the most successful trader, how the best traders seem to have uncorrelated returns to the overall stock market, why elite traders can often have terrible starts to their careers, how embracing risk management can take returns to a much higher level, what investors should look for in a money manger, mean-reversion versus momentum trading, and a lot more.
-----
50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE
-----
Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.
IT’s TRUE ? – most CIO’s read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.
And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.
Learn more about the Trend Barometer here.
Send your questions to info@toptradersunplugged.com
And please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.
Episode TimeStamps:
00:00 – Intro
01:27 – Macro recap from Niels
02:17 – Weekly review of performance
05:01 – Niels: Where do systematic traders tend to rank in your book, compared to discretionary traders? What is the minimum length of track record you looked at, to be considered for inclusion in your book?
10:50 – Moritz: To what extent did mean reversion traders feature in your book, versus momentum-orientated traders?
16:47 – Niels: How much do you think luck played a part in the results of the traders in your new book?
23:01 – Moritz: When you were interviewing the traders in your book, did you, at any time, get the feeling that there were tailwinds, outside of their control, that helped their strategies?
27:41 – Niels: Some of the traders in your book blew up their accounts a few times, so can they still be called ‘wizards’ of the market?
34:37 – Moritz: There seems to be opposing views on diversification in your book. What are your thoughts on this?
39:07 – Niels: How do you think...