Jack Schwager, author of Market Wizards, is a recognized expert in the futures and hedge fund industry. He is the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund and is a Co-Founder and Director of Trader Development at FundSeeder.
Jack has previously spent 22 years as a director of futures research at some of Wall Street’s leading firms and 10 years as a partner in a hedge fund advisory firm.
Jack’s name is synonymous with futures and trading, due to his compelling books that are frequently cited by the trading community. Perhaps Jack is best known for his Market Wizards series books in which he interviews some of the greatest hedge-fund managers. Altogether, his books have sold nearly 2 million copies worldwide. He is credited by many traders as being instrumental in the launch of their trading career.
Jack is a frequent seminar speaker and has lectured on a range of analytical topics including the characteristics of great traders, investment fallacies, hedge fund portfolios and technical analysis.
Jack holds a BA in Economics from Brooklyn College and an MA in Economics from Brown University.
Economic and Finance Themes:
In this interview, Jack mentions and discusses: chartists, technical analysis, fundamentals, futures, normal distribution curve, options, Black-Scholes Options Pricing Model, option warrant trading, efficient market hypothesis, probability, negative externalities, fiscal responsibility, Keynesianism, deficits and demand.
- why Jack chose economics at University.
- about the similarities between Physics and Economics and why they are so different as a science.
- if there is a certain personality that is required in trading financial markets.
- if there is a holy grail to trading the markets.
- about the importance of discipline.
- how an $18 'Job Wanted' ad in the New York Times landed Jack a position as a key analyst.
- the one trader that particularly impressed Jack.
- about the different strategies of some of Jack's Market Wizards.
- why normal distribution tail events can have a higher probability of occurrence than is lead to believe.
- about the tragic ending of Market Wizard John Bender and the current case against his wife by the Costa Rican authorities for his 'murder'.
- about Fundseeder - the world's first search engine for undiscovered trading talent.
- about Jack's forthcoming book with the working title 'Undiscovered Market Wizards' and how you could possibly feature it.
- about the Market Wizards Roadshow coming soon in 2015.
- why Jack wrote his book 'Market Sense and Nonsense'.
- about the debunking of the efficient market hypothesis.
- what a negative externality is in the context of economic theory.