?。?)Market Wizards: Interviews with Top Traders(1988)
《金融怪杰》(臺(tái)灣)
(2)The New Market Wizards: Conversations with America's Top Traders(1992)
《新金融怪杰》(臺(tái)灣)《華爾街點(diǎn)金人》(大陸)
?。?)Stock Market Wizards: Interviews with America's Top Stock Traders(2001)
《股市奇才》
三本書一定要全讀,作者采訪了各種風(fēng)格的投資/交易者,對(duì)我們來說是一座金礦,總能找到你想要的。
在這3本書出版十幾二十幾年后的今天,有幾個(gè)人依然在forbes 2011 美國(guó)最富400人富豪榜上。
32位 Steve Cohen 73億美元
69位 Bruce Kovner 41億美元
110位 Paul Tudor Jones 31億美元
119位 Stanley Druckenmiller 29億美元
164位 David Shaw 22億美元
- What other mistakes do people make?
- They don’t approach trading as a business. I’ve always viewed trading as a business.
- How do you achieve that balance?
- I focus my total attention on trading well, and let the results take care of themselves.
-The 1979-80 silver market was one of the great bull markets of all time. [Silver soared from $5 per ounce to $50 per ounce in a little over a year.] Did you have any inkling of how high prices might go?
-None whatsoever. In fact, even $10 per ounce seemed extremely far fetched. I don’t know anybody who bought silver at relatively low prices and got out at over $20. The traders who bought silver at $3, $4, $5, and $6 did one of two things. Either, by the time silver got up to $7, $8, or $9 they got out, or they rode the position all the way up and all the way down. I’m sure there are exceptions, but I’ve never met one. I did, however, know traders that went short silver at $9, $10 because the price seemed to ridiculously high and ended up riding the position until they had lost their entire net worth. That happened to some of the best professionals I knew in the silver market.
A lot of innocent parties were hurt by the Hunt activity. For example, take a mine down in Peru whose cost of production is under $5 per ounce. When the price gets up to $15, the mine decides to lock in a huge profit by hedging their next two years’ worth of production in the silver futures market. This makes all the economic sense in the world. However, when the price keeps on going up to $20, $25, $30, $35, they have to keep putting up more and more variation margin on their short futures positions. Eventually, they run out of money and are forced to liquidate their position, going broke in the process.