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Inside the Mind of the Turtles: How the World's Best Traders Master Risk Hardcover – April 15, 2009
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From the Back Cover
Take control of risk . . . before it takes control of you
Don't like uncertainty? Doubt makes you nervous? Most people are averse to it, but risk is unavoidable to the serious investor. In this groundbreaking book, Curtis Faith helps you not only form a truce with risk, but actually make it your ally.
One of Chicago's famed Turtle traders, Faith credits his group's unprecedented trading success with its mastery over the psychology of risk. In Inside the Mind of the Turtles, he explains how to view risk as an asset-and invest accordingly. Covering his own techniques, plus those of other traders, speculators, hedge-fund billionaires, and venture capitalists, Faith teaches you the seven rules for mastering risk:
- Overcome fear
- Remain flexible
- Take reasoned risks
- Prepare to be wrong
- Focus on market realities
- Respond to change quickly and decisively
- Concentrate on decisions, not outcomes
Only those who can control their fear of risk will move forward in the investing world. This has never been truer than it is in today's topsy-turvy global economy. Read Inside the Mind of the Turtles and never again hide inside your shell in the face of risk.
About the Author
Top Customer Reviews
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.
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.
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.Read more ›
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.
Most Recent Customer Reviews
The book by Curtis Faith, Inside the Mind of the Turtles, was well-written and thoughtful. It focused on the correct view of 'risk' when investing in business or in the stock... Read morePublished on April 22, 2012 by Michael Grant
Bueno, pues me acabo de leer este bodrio y aprovecho para deciros que podeis ahorraros el tiempo y el dinero. Read morePublished on September 3, 2011 by Antonio Mangas
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. Read morePublished on October 23, 2010 by D. Patterson
This book is about risk management in all areas of life not just trading. The author does a good job of explaining risk by using examples from emergency room doctors and... Read morePublished on March 21, 2010 by Steve Burns
what a disappointment!
I rate The Way of the Turtle by Curtis as amongst the absolute best books that I've read about trading. Read more
I was browse though the book store when I came upon this book. I have learned about the name of the Turtle for quite a while, although not really a fan, I am interested to know... Read morePublished on December 10, 2009 by Denzuko1
The follow up book to the Way of the Turtle, which takes a more rounded view of the role of risk and the impact of risk avoidance on modern life. Read morePublished on November 26, 2009 by Reg Nordman
If you're expecting a "How-To" practical approach, forget about it. Faith's indifference was evident in his borrowed platitudes and anecdotes. Read morePublished on August 13, 2009 by TweatyB
Inside the Mind of the Turtles is a great companion book to the author's first, more technical discussion of Turtle trading. Read morePublished on July 10, 2009 by Anonymous