- Format: Kindle Edition
- File Size: 8083 KB
- Print Length: 373 pages
- Page Numbers Source ISBN: 1118494563
- Publisher: Wiley; 1 edition (19 October 2012)
- Sold by: Amazon Asia-Pacific Holdings Private Limited
- Language: English
- ASIN: B009UG7DCS
- Text-to-Speech: Enabled
- Word Wise: Enabled
- Customer Reviews: 32 customer ratings
- Amazon Bestsellers Rank: #3,39,007 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Market Sense and Nonsense: How the Markets Really Work (and How They Don't) Kindle Edition
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About the Author
JACK D. SCHWAGER is a recognized industry expert on futures and hedge funds and the author of the widely acclaimed Market Wizards and Schwager on Futures book series. He is currently the co-portfolio manager for the ADM Investor Services Diversified Strategies Fund, a portfolio of futures and FX managed accounts. He is also an advisor to Marketopper, an India-based quantitative trading firm. Previously, Mr. Schwager was a partner in the Fortune Group, a London-based hedge fund advisory firm, which specialized in creating customized hedge fund portfolios for institutional clients, and also spent over twenty years as a director of futures research for some of Wall Street's leading firms. --This text refers to the hardcover edition.
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Top international reviews
However, a wide variety of topics were addressed which I felt were too advanced for a layman reader like me.
through all the crap from the finance industry. The stock market is peaking, and small investors are
entering the stock market again, at a time when they shouldn't. Read this book and get wiser
But Market Sense and Nonsense has nothing to do with how markets actually work today. Having read several books by both authors I got the impression this book was actually ghost written for them and the publisher changed the title of the book prior to publication to make it more marketable.
The information contained in this offering is so general that you can find it free on the internet.
The book really diminishes the Schwager and Greenblatt brands.
The book is broken into three sections.
1. Markets, Returns & Risk
2. Hedge Funds as Investments
3. Portfolio Matters
Parts 1 & 3 were strong and worked well together but the section on Hedge Funds feels wildly out of place. This book is more of a reality check for portfolio management than a trading book and is very different than any of his market wizard books (which are excellent).
If you're strictly a trader that watches intraday charts, this book has little value for you. If you manage a portfolio of assets and have been schooled on the modern portfolio theory taught in academia and broadly accepted by many professional long only money managers, this book will open your eyes to the fact that much of what you believe is built on false market assumptions.
Jack's latest book, Market Sense and Nonsense, is a very different book than his previous work. It differs from the interview style books for which he is primarily known. It also differs from the more text book style work he did in the past. This time, it's his own opinions. His own research.
In this book, Jack gives his views on what he believes to be important misconceptions and mistakes in the markets. He points out behavior of market professionals which make absolutely no sense. He shows how even seasoned investors often misunderstand important concepts. How they are guided by ideas and preconceptions which will end up hurting them.
That I'm a fan of Jack's is probably clear from this review. I own all his books and they are all excellent. With this new style, he does not disappoint. If it was up to me, this book too should be part of the mandatory curriculum in business schools.