Pit Bull: Lessons from Wall Street's Champion Trader Audio CD – Unabridged, June 1, 2013
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About the Author
Martin S. Schwartz is a legendary Wall Street trader who made his fortune successfully trading stocks, futures, and options. He has been profiled in Barron's and in the national bestseller Market Wizards by Jack D. Schwager.
Ian Esmo is an audiobook narrator who specializes in athlete and sports biographies.
- ISBN-10 : 1470888785
- ISBN-13 : 978-1470888787
- Item Weight : 9.6 ounces
- Dimensions : 5.4 x 1 x 5.5 inches
- Publisher : Blackstone Audiobooks; Unabridged edition (June 1, 2013)
- Language: : English
- Best Sellers Rank: #2,242,931 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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unfortunately the title is completely misleading, there are no real lessons here, just the same old sayings that have been used over and over,
-dont put your eggs all in one basket,
-trade to protect assets over making money
-if you day trade never leave your money in stocks futures or anything overnight
-hard work beats luck
-learn and rehearse your strategy before entering
- dont let your ego get the best of you
the list goes on
the book title made me think it would open the reader to his system, unfortunately it does not, it gives a very blurry insite to his trading strategy, he brings up his magic T and tells of his huge winnings but he doesnt really describe the magic t nor does he tell you how he arrived to his biggest winnings. example " i waited months for this setup, and in the end made 60k"
the back gives his trading tools which seems more like advertising than actual advice.
this book is a good read but dont expect any secrets or new information this is why i gave it 2 stars for its misrepresenting title
We're lacking another one of these books today. But, it took from 1923 to 1990's to get this one, so best to appreciate it because we're likely in for a very long wait.
Filled with wit, an active voice that you can truly appreciate that plays in your head as you read it, the life of Marty Schwartz is one of a man who wanted to succeed so much and his perseverance and an amazing and supportive wife that kept him on track and pushing forward.
His stories can be funny, insightful, and most of all can help you become a better trader if like Reminiscences, you actually read it, and appreciate it for what it's trying to say.
Get this book, read this book, enjoy this book.
This is the personal story of Maryin "Buzzy" Schwartz who rose from a lowly pit trader to champion trader, to hedge fund master.
This is an exploration in the life and times of one driven trader. If you are looking for a get rich quick scheme or trading strategy, this is not the right place. Buzzy does mention one or two strategies that he uses, one for trading S&P futures, and the Magic T Theory which he uses extensively throughout his career. However, this is more of a psychological study than a trading journal. How does Buzzy react to the pressure? How does he take it to the next level, and why? What does he do when he does occasionally lose and how does he pick himself up again? And how and why does he eventually wind down his long and successful career?
I was fascinated by this book, and I believe that you will be, too. If you are not sure, just read the first chapter. If at does not get you, put the book down and look elsewhere.
When I did put down the book, I felt, as one does after reading an exceptional biography, that I was saying goodbye to an old friend. I wish that I was able to give higher than 5 stars.
Best wishes, Buzzy, whatever you are doing now and happy trades!
Top reviews from other countries
I've just completed reading this book. I really liked it, found it hard to put down and have flagged it for a re-read in a year or two because I think the material deserves a re-read to re-absorb the many lessons.
I've also read some of the other negative reviews. Which I do agree with partly..
In short, this is a book for traders, I think there are many valuable lessons in here and perspectives in life from someone who has achieved far more than most people trading.. hence this is a useful insight into the issues we may face as we become more successful. E.g. he talks about what is most important in life, and his issues with health and trading addictions.. also managing other's money, which personally I've just started to do (on a small scale right now).
Some of reviews talk about his ego. I knew a trader who had made a number of million in the LIFFE pits in UK back in the days. He told me that in general, the biggest and best traders were arrogant and had big egos. I think it went with the territory, so I didnt judge Buzzy negatively on this.
Overall I rate this book based on how useful it was to me as a trader, and I found his life story very useful and insightful and I believe I have picked up some new insights that will help me. My book has a number of highlights in it!
That's my opinion, please let me know if this is useful to you as I have many more trading books I can also write a review for.
Schwartz counts himself as a 'street kid' - i.e. someone from an ordinary background, rather than a Wasp Ivy League family. His self-image is a little bit different from reality, in that his family did have a strong work ethic and an entrepreneurial streak. He may have done a lot of 'street' things in his youth, but his academic record is excellent. He was also in the Marine Reserves as an officer for five years. The combination of a sharp mind, a strong work ethic and the discipline and ability to stay calm under fire combined to make him an extraordinary trader. He was a true pioneer in terms of his trading. The book is an extraordinary read. Schwartz is brutally honest about his experiences. I think it's this ability to be absolutely honest with himself that was the cornerstone of his exceptional career as a trader. It's fascinating to see where he won and where he lost - and it's his analysis of his losing days that provide some of the most valuable lessons.
This is a must-read for anyone either trading, or even just investing for their pension.
... was told their story was interesting. It isn’t, because Schwartz just can’t provide the insights. Clever though he might be.