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The Zurich Axioms [Paperback]

Max Gunther (Author)
4.7 out of 5 stars  See all reviews (31 customer reviews)
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"If you have got the price of this book, stake it." -- Investors Chronicle "Investors Chronicle"

Product Description

NOTE: THIS BOOK IS ONLY AVAILABLE FOR PURCHASE TO PEOPLE LIVING OUTSIDE THE UK AND BRITISH COMMONWEALTH COUNTRIES

If you want to get rich, no matter how inexperienced you are in investment, this book can help you. Its message is that you must learn neither to avoid risk nor to court it foolhardily, but to manage it - and enjoy it too.

The 12 Major and 16 minor Zurich Axioms contained in this book are a set of principles providing a practical philosophy for the realistic management of risk, which can be followed successfully by anyone, not merely the 'experts'. Several of the Axioms fly right in the face of the traditional wisdom of the investment advice business - yet the enterprising Swiss speculators who devised them became rich, while many investors who follow the conventional path do not.

Max Gunther, whose father was one of the original speculators who devised the Axioms, made his first capital gain on the stock market at the age of 13 and has never looked back. Now the rest of us can follow in his footsteps. Startlingly straightforward, the Axioms are explained in a book that is not only extremely entertaining but will prove invaluable to any investor, whether in stocks, commodities, art, antiques or real estate, who is willing to take risk on its own terms and chance a little to gain a lot.

Product Details

  • Paperback: 130 pages
  • Publisher: Harriman House (June 3, 2005)
  • Language: English
  • ISBN-10: 1897597495
  • ISBN-13: 978-1897597491
  • Product Dimensions: 8.9 x 6 x 0.5 inches
  • Shipping Weight: 6.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (31 customer reviews)
  • Amazon Bestsellers Rank: #70,230 in Books (See Top 100 in Books)

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Max Gunther
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Customer Reviews

31 Reviews
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Average Customer Review
4.7 out of 5 stars (31 customer reviews)
 
 
 
 
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24 of 25 people found the following review helpful:
5.0 out of 5 stars thin book, but jam-packed with value and wisdom!, October 15, 2006
By Jaronimo (NJ, the garden state) - See all my reviews
(VINE VOICE)   
Amazon Verified Purchase(What's this?)
This review is from: The Zurich Axioms (Paperback)
I love books on risk management, especially when they differ from mainstream opinion of what is correct. And they are even better when they make total sense like this book does.

Max Gunther writes about the 12 major and 16 minor axioms handed down to him by his father, a swiss banker/speculator. I believe if you follow these axioms you can be very successful, or at least not lose everything you have worked hard to gain.

The first axiom is on risk. Max tells some good stories about people that risked, alongside those that played it safe. You can probably guess who did well in the long run. The minor axioms for risk talk about always play for meaningful stakes and resisting the allure of diversification. Meaningful stakes is a problem for many traders/investors. They take trades that are low risk and low reward, when there are plenty of slightly higher risk and much higher reward trades available on a daily basis. And lets not even get into the subject of diversification, that kills many accounts. Most truly successful people take the opposite aproach to diversification, they put all their eggs in one basket, and then keep a very close eye on that basket.

The second axiom is greed, one of my personal favorites. Max talks about always taking your profit too early! I really like his take on profits. I have had way too many times where I was making great money on trades and then sat on my hands waiting for it to go higher. Thats usually when the bottom falls out and you end up with less than half the profit you would have had if you got out "too soon". The minor axiom for greed is to know what your target profit level is in advance, then to get out once that number is hit. Great advice.

The other axioms are on;

-Hope - When the ship starts to sink, don't pray, jump.

-Forecasts - Human behavior cannot be predicted, distrust anyone who claims to know the future.

-Patterns - Chaos is not dangerous until it begins to look orderly.

-Mobility - Avoid putting down roots, they impede motion.

-Intuition - A hunch can be trusted if it can be explained.

-Religon and the occult - It is unlikely that Gods plan for the universe includes making you rich. (plus God must really love poor people, afterall he made so many of them)

-Optimism and pessimism - Optimism means expecting the best, but confidence means knowing how to handle the worst.

-Consensus - Disregard the majority opinion, it is probably wrong.

-Stubbornness - If it doesn't pay off the first time, forget about it.

-Planning - Long-range plans engender the dangerous belief that the future is under control. It is important never to take your long-range plans, or others plans seriously.

This book is packed with value. It will not lead you to investments or speculations, but it does lay down some of the all-important groundwork so you can go into money making opportunities with the correct mental outlook. This book has earned a place on my very short list of important books.
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13 of 14 people found the following review helpful:
5.0 out of 5 stars A great book to learn about the importance of risk taking, November 5, 2000
By David Enzel (Chevy Chase, MD USA) - See all my reviews
(VINE VOICE)    (REAL NAME)   
This review is from: The Zurich Axioms: Investment Secrets of the Swiss Bankers (Paperback)
This book really opened my eyes to the importance of taking risks and taking one's losses gracefully and quickly. The book also speaks about the risks of so-called low risk approaches. If one doesn't have much calculated risks are the way to go. The book is positive and upbeat. I read it more than 10 years ago and it is a book I turn to again and again.
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8 of 9 people found the following review helpful:
5.0 out of 5 stars A great book on investment strategy., May 26, 1998
This review is from: The Zurich Axioms: Investment Secrets of the Swiss Bankers (Paperback)
No nonsense clearly articulated principles of investing, devoid of technical jargon, unsupported theories and self-congratulatory braggadocio. The book is written in an engaging, mildly cynical way that resembles a father teaching his son the main principles of the investing process - as the author apparently learned them from his Swiss banker father. The main topic is the mindset and philosophy of successful speculators and investors and the major traps to watch out for when engaged in this activity. Very general advice - there are no spesific recommendations for any stocks, etc. This is an outstanding book for individuals who want to develop a rational basis for their investment activities.
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Most Recent Customer Reviews

5.0 out of 5 stars This book is indispensible for your knowledge
This book is a classic. It's why I became a stock trader.
It's advice is invaluable.

You need to memorise the advice in this book.
Seriously.
Published 3 months ago by Emmet O'Riordan

5.0 out of 5 stars The Zurich Axioms
This is one of the best books I have ever read. Thanks to Dan Murphy of [...] who recommended this. Very concise, resourceful and beautifully put. Read more
Published 5 months ago by Jayaram N. Rao

5.0 out of 5 stars I recommend this book to any beginner investor!
I'm a beginner investor in real estate, and I'm self-taught in most of the things I do. This book is a good book, which I keep on my bed table together with other essential books... Read more
Published 8 months ago by N. Nguyen

5.0 out of 5 stars Nice read. The axioms although kind of general they offer good guidance
Although the axioms are kind of general they nevertheless offer some good guidance to those who would like to build on that foundation. Read more
Published 17 months ago by EGH

3.0 out of 5 stars Read The Axioms, Then Create Your Own
Everyone's got to start somewhere and Max Gunther helped me get my start in the world of speculative investing. Read more
Published on July 23, 2008 by Gary O. Clement

5.0 out of 5 stars logical, brilliant, and an enjoyable read
I've read hundreds of investment and speculations books. The Zürich Axioms is the best, bar none.

I have a web site, Speculation Rules, you will find these axioms... Read more
Published on June 3, 2008 by Allan Wallace

4.0 out of 5 stars Good basic philosophy, haughty tone.
Pretty good book so far. Nothing Earth-shattering, but good supplement to a financial library.
Published on February 13, 2008 by W. Skidd

5.0 out of 5 stars READ IT TODAY!
Completely worth it! You can read this in one weekend; worth so much more than that!!! Fantastic book, so true it does indeed make you think about the "accepted" investment... Read more
Published on November 1, 2007 by PHD

2.0 out of 5 stars Too Generic
This book was a bit of an enigma to me. The Axioms themselves are great. However, the stories/illustrations given are so terribly generic any 1/2-creative storyteller could come... Read more
Published on September 22, 2007 by J. Johnson

5.0 out of 5 stars Contrarian views on wealth accumulation
I bought this book based on a recommendation from a part-time trader friend. He mentioned that Zurich Axioms will be one book that should be re-read during tumultuous times to... Read more
Published on September 6, 2007 by Hoe Siu Loon

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