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4 of 5 people found the following review helpful
4.0 out of 5 stars Great book but probably not the right title
This is an great book on the psychology of risk and how it applies to one's personal life, financial life, and business actions. It has a good down to earth explanation of several behavioral biases that people and companies encounter, and presents a compelling argument for taking managed risks.

That said, it isn't a book about trading, but it purports to be...
Published on December 14, 2009 by Chris Bouzek

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44 of 50 people found the following review helpful
1.0 out of 5 stars Definitely NOT "Way of the Turtle" or "Complete Turtle Trader"
I've read three of the "Turtle" books, two by Curtis Faith and one (Complete Turtle Trader) by Michael Covel. And, the other two were just much better in many ways than "Inside the Mind of the Turtles." I was expecting this book to cover the idea of risk in trading from the "Turtle" perspective, and while some digressions into other types of risk (skydiving, emergency...
Published on May 19, 2009 by G. M. Wooden


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44 of 50 people found the following review helpful
1.0 out of 5 stars Definitely NOT "Way of the Turtle" or "Complete Turtle Trader", May 19, 2009
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
I've read three of the "Turtle" books, two by Curtis Faith and one (Complete Turtle Trader) by Michael Covel. And, the other two were just much better in many ways than "Inside the Mind of the Turtles." I was expecting this book to cover the idea of risk in trading from the "Turtle" perspective, and while some digressions into other types of risk (skydiving, emergency rooms, business start-ups) are fine, Faith spends way too much time on these subjects. Obviously, to some degree, they are related to risk in trading, but I would like to have read more about market risk management than spending more than half the book on these slightly-off-topics which have not-quite-enough relevance.
One other thing that bothered me is organization of the book. Faith often lists 3 or 4 bullet points which are easy enough to understand, but then goes into more detail than necessary explaining each point. The entire book is structured like this, and due to the topics mentioned above, the stories of personal success, as well as the structure, I felt like I was reading someone's self-glorifying high-school essay.
To be fair, Faith does stick with the topic of risk and I did get a little bit of useful information, but this book is just nothing compared to the other two "Turtle" books. They are more well-written, more informative, more useful, and more fun to read. This one was kind of a disappointment.
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24 of 28 people found the following review helpful
1.0 out of 5 stars Why is this a book?, May 6, 2009
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
I am torn writing this review. As an aspiring author myself I understand what it takes to put a book together. You give your life to the text and spend hours looking for exactly the right word to use at the right place. At least this is what I do....

This book was poorly written and provided very little information that was relevant to the title. The author provided explanations about your other business adventures that were not related to trading. I bought the book because your "claim" to fame is the most successful Turtle. Certainly providing more detail about your trading experience would have made for a better read. After all your trading experience is what we want to know about - not other exploits.

The book touts the names of other Turtles - ones that are actively managing money now. I expected quotes and insights from these people. What I got was 10 - 15 word quotes that could have been found in magazines or other places. There was nothing new in this book - or insights from other traders.

Traders and aspiring traders should use their time on another text. I got very little out of this book and I would not recommend it to anyone else.
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11 of 13 people found the following review helpful
3.0 out of 5 stars Disappointing, especially compared to "Way of the Turtle", July 8, 2009
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
I was happy to see this book, having greatly enjoyed, admired, and learned from Faith's first book, "Way of the Turtle." I was looking to learn more about risk and risk management in both investing and in gambling (poker). When I thumbed through the book and examined the contents, I thought it would be just what I was looking for.

The book disappoints. While it does deliver 7 rules for handling uncertainty and risk, and provides what I consider to be a superior definition of risk, overall it falls well short of what I hoped for.

Some specifics. First, lots of the book is not about trading or handling risk in investing, which is Faith's claim to fame. It meanders into and out of various subjects. In Faith's mind--and his intent for this book--I think the common thread is that all the stories are tied together in that they involve uncertainty and risk. Well, lots of life's decisions involve risk, so he's right about that. But as soon as he wandered into non-trading subjects, the quality of writing plunged, became almost like a high-school term paper rather than the observations of a mature and polished professional.

Second, I use words like "meanders" deliberately. About a dozen times throughout the book, I suddenly realized the subject had changed, segued from, say, trading into entrepreneurship. More than once I had to check to see whether two pages had stuck together and I had inadvertently jumped ahead and missed a transition. That was disconcerting. No pages had ever stuck together. Rather, the author just changed subjects without warning or transition.

Third, since I was interested mainly in the ideas of risk as applied to trading and investing, and finding his digressions to be unhelpful, after awhile I just skimmed through the off-point stories (to be sure I didn't miss a dropped-in sentence about trading). I did not find any of the other subjects to be helful, and the stories weren't that interesting.

Fourth, I usually don't like boxed-in quotes (from another person) that are placed nearby relevant text. They interrupt the flow, and I often consider the technique lazy: In a non-fiction book where you are developing a theory, it's the author's job to develop that theory in a sequential fashion. The dropped-in quote allows the author to get in an idea that doesn't quite fit without really explaining it. And the quotes themselves were mostly low quality. The book would have been better without them.

Finally, in the last 3 chapters (or so), the author attempts to develop theories about how handling uncertainty and risk can make for a better world. The effort seemed juvenile, again like a term paper.

Bottom line: If you are looking for a book about how the Turtles handled risk and uncertainty in their trading, you will find it (somewhat) in this book, but you will have to find it among lots of off-topic, poorly developed writing. About half the book is for you, but it's spread around among the whole book. You'll have to search for it among the irrelevant stuff.
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6 of 7 people found the following review helpful
1.0 out of 5 stars DON'T BUY THIS BOOK!, May 5, 2010
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
This was a horrible book. It was so bad that I HAD to write a review (1st time) so that others wouldn't be scammed by the misleading title.

This is one of those books that the proverb, "You can't judge a book by it's cover" was said about. The title should have been, "Pointless Ramblings of a Former Turtle." I completely agree with the other reviews except where they give the book 3 stars (or higher). They were being generous (3 stars generous).

I'm not even sure how this book got published - oh yeah to scam you out of money because you believe there will be semblance to the title - there isn't.
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4 of 5 people found the following review helpful
1.0 out of 5 stars Very Disappointing, August 24, 2011
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This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
This book by one of the few Turtles who didn't make it big, is just a long monologue on the author's view of risk. There are some good points and things to think about but it's mostly a lot of words around a few simple principles. It's a real disappointment. I had to give up after four chapters.
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4 of 5 people found the following review helpful
4.0 out of 5 stars Great book but probably not the right title, December 14, 2009
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
This is an great book on the psychology of risk and how it applies to one's personal life, financial life, and business actions. It has a good down to earth explanation of several behavioral biases that people and companies encounter, and presents a compelling argument for taking managed risks.

That said, it isn't a book about trading, but it purports to be. If it were called something like "Risk Management, Innovation, and Life Choices from the Perspective of a Turtle Trader" it might be more accurate (although too long for a title.

If you want to learn about risk, how to mentally handle it, and how decisions about risk made by you and others affect your life, you will find this a worthwhile read.
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3 of 4 people found the following review helpful
1.0 out of 5 stars waffle, December 12, 2009
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what a disappointment!

I rate The Way of the Turtle by Curtis as amongst the absolute best books that I've read about trading.

Inside the Mind of the Turtles is merely a self indulgent rant and of almost NO value in relation to trading.
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5 of 7 people found the following review helpful
3.0 out of 5 stars Pearls of wisdom, May 11, 2009
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This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
Curtis Faith demonstrates he is well accomplished in dealing with risky situations. Experienced with human psychology in terms of dealing with risk in a broad spectrum of endeavors; the author here offers the reader pearls of wisdom to contemplate. The title is not truly befitting the books content. The content however should not be judged on that account, but by its worth and potential value. So while if one is expecting to find "how to" solutions, they will be disappointed. I however had no pre conceived expectations and thus can recommend the book for its hidden value and interesting insights.
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4 of 6 people found the following review helpful
2.0 out of 5 stars Please, October 23, 2010
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
I disliked this book. It is poorly organized. There are supposedly seven risk principles. Some take one chapter and then some are spread across several chapters. I actually gained more by reading the summary here on Amazon - and I just finished reading this thing.

Also, Curtis Faith takes an entire book ("Way of the Turtle") to say that only fools try to predict the market's direction - the reasoning being that it is far too complex. I couldn't agree more. I was shocked then when I got to the end of this book and he begin making broad predictions about the state of the world in the next few decades (i.e., cities will be under water because of global warming, etc.). Now, from the text of this book, I can tell he has a high opinion of himself.... but PLEASE! Talk about a massive self-contradiction and blatant ego stroking.

Do yourself a favor: skip this one. Read "Trend Following" by Michael Covel and "Way of the Turtle" by Curtis Faith.
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4 of 6 people found the following review helpful
2.0 out of 5 stars nor really Turtle related, May 8, 2009
This review is from: Inside the Mind of the Turtles: How the World's Best Traders Master Risk (Hardcover)
This is a beginners book about risk in general. Not much trading related info and no Turtle related info at all.
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