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Trader Vic: Methods of a Wall Street Master Paperback – August 12, 1993
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From Library Journal
- Alex Wenner, Indiana Univ. Libs., Bloomington
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
From the Back Cover
"Investment strategies from the man Barron's calls "The Ultimate Wall Street Pro" Victor Sperandeo is gifted with one of the finest minds I know. No wonder he's compiled such an amazing record of success as a money manager. Every investor can benefit from the wisdom he offers in his new book. Don't miss it!"
—Paul Tudor Jones, Tudor Investment Corporation
"Here's a simple review in three steps: 1. Buy this book! 2. Read this book! 3. See step 2. For those who can't take a hint, Victor Sperandeo with T. Sullivan Brown has written a gem, a book of value for everyone in the markets, whether egghead, novice or seasoned speculator."
—John Sweeney, Technical Analysis of Stocks and Commodities
"Get Trader Vic-Methods of a Wall Street Master by Victor Sperandeo, read it over and over and you’ll never have a losing year again."
—Yale Hirsch, Smart Money
"I have followed Victor Sperandeo's advice for ten years, and the results have been outstanding. This book is a must for any serious investor."
—James J. Hayes, Vice President, Investments Prudential Securities Inc.
"This book covers all the important aspects of making money and integrates them into a unifying philosophy that includes economics, Federal Reserve policy, trading methods, risk, psychology, and more. It’s a philosophy everyone should understand."
—T. Boone Pickens, General Partner Mesa Limited Partnership
"This book gave me a wealth of new insights into trading. Whether you’re a short-term trader or a long-term investor, you will improve your performance by following Sperandeo’s precepts."
—Louis I. Margolis, Managing Director, Salomon Brothers, Inc.
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Top Customer Reviews
What Sperandeo says about trading, discipline and risk management is a must read for all traders who hope to make it (and not just end up giving their money to professionals like Vic and me).
I have read more than 50 books on trading and this is in my top 5.
His reasons for writing the book it seems is frustration with the image the world has of traders in which the unsung career pro goes unnoticed. Whatever his reasons are it is a privilege to gain an insight into the mind and methodology of a New Market Wizard.
His methods are a mixture of fundamental and technical analysis. He uses economics as a forecasting tool and says that cycle analysis actually just gets in the way. If you can understand the fundamentals of economics you can interpret government intervention in the market and profit from it.University taught economics is useless for this. All booms and busts are a result of credit expansion in an effort to lower interest rates, whereas Keynesian economics attempts to use interventionalist policy to smooth out the peaks and troughs but in fact is the predominant cause. Surplus production, savings and innovation create wealth as much for the individual as the economy on the whole. Wealth is actually consumed by government created prosperity via deficit spending.Read more ›
Part I is all about building your trading knowledge from the ground up. Part II is about the commitment, change and emotional discipline required to transform trading knowledge into total success. That term includes both financial and emotional satisfaction with your life.
In a sense Sperandeo is a philosopher. He defines every noun of consequence so that there is no question what he means, no room for misinterpretation.
Other reviewers have nicely summarized the key components and value of the trading and economics chapters. What I find most fascinating and useful is the second part of the book that focuses on trader psychology.
Another market master, also interviewed by Jack Schwager in his book The New Market Wizards, says that your real trading system is the feelings you are unwilling to feel. Author Victor Sperandeo makes this point from a different angle by focusing on a person's "false pride," a state of mind that drives the trader to continually reach for an unattainable ideal of what they "should be" rather than who they are. This invariably leads to inconsistency and losses.
Sperandeo calls this phenomenon "the tyranny of the 'shoulds'." The author's presentation of this critical aspect of trading is especially valuable because he clearly describes methods that any trader can use to explore, assess and begin to rectify such issues that can impede trading performance.
This excerpt summarizes the author's advice about trading in a few words.Read more ›
Most Recent Customer Reviews
Helped me with my insomnia, cocaine and meth addictions problems, no need to take sleep medication.. After reading this book you cured!Published 4 months ago by Jbal Colgate
I was expecting just a trading book but Trader Vic did some amazing work not only letting you peek into his trading methods but his whole thought process in life. Read morePublished 6 months ago by Robert Kirk
Phenomenal! Victor Sperandeo is a genius, and I swear I will be star struck if I ever meet him. This is his BEST work, and if you study and really "get" what he says, you... Read morePublished 16 months ago by G. Faria
except dow theory everything else in the book in just fillersPublished 17 months ago by sandeep mallya
Great book Trader Vic. I'm 25 and I have learned a lot from this masterpiece.Published 18 months ago by brandon johnson
A very good and practical book giving you some of the insights of market trading . It's a bit more complicated and detailed than I expected , but its primal idea is very well... Read morePublished 18 months ago by Kenneth Suen