On the online shelves of the Maklerska bookstore you can find “Masters of financial markets” by Jacek Schwager. This position is included in the canon of books about investing in the United States. It contains numerous and informative interviews with professional investors, whose common element is success on the market. The book can be summed up in three words “fun, informative and invaluable”.
Discipline is the key to success in the financial markets
The book “Masters of Financial Markets” is undoubtedly a must-read for anyone interested in what the profession of a stock market investor/speculator looks like “from the inside”. It includes interviews with prominent investors and traders such as William Eckhardt. Bill Lipschutz, Victor Sperandeo, Linda Raschke, Tom Basso, Stanley Bruckenmiller. They share with the reader their investment strategies, market approach, time horizon, or ways to control risk. Each of these outstanding people operates in the market in its own individual way, but they all have in common the effectiveness in earning. “During the interviews in the book, I learned that winning the market is a matter of skill and discipline, not luck. The scale of the transactions and the profits made by those I spoke to mean that not everything can be attributed to luck. I hope that my book will make readers aware of what it takes to win in the market. Those looking for a quick buck will probably get discouraged after the first few chapters, wrote Jack Schwager in the introduction. – I tried to reach two groups of readers: professionals who have connected their careers with the market or deal with research on market behavior, and ordinary readers interested in financial markets and curious about the fate of those who managed to win in an arena where the vast majority loses – he added. What are the decisive factors for success in investing? The answer to this question is not simple, but the publication shows examples of making money on the market through the use of, among others, technical and fundamental analysis. However, the real key to success lies in the specific qualities and skills that investors possess. Thanks to reading Jack Schwager’s book, you can get to know them. – To make the book understandable for non-professionals, I have avoided particularly difficult topics to understand, and added explanations where necessary. At the same time, I tried to convey everything that would be interesting for readers with a lot of practical knowledge about the market. I think this book will be equally useful to laypeople as well as professionals, because the elements that determine success in the stock market game are important for success in any field or achievement of any important goal – reassures the author.
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