Pit Bull: Lessons from Wall Street's Champion Trader

Overview

Schwartz makes us a part of the action as we follow his career from his first gut-wrenching day trading options on the American Stock Exchange to his enormous successes trading futures, his pursuit of secretive foreign money for his hedge fund, the night he spent trading bonds during the Gulf War (in that first tumultuous night, he made $1.2 million by dawn), and the often painful yet valuable personal lessons he learned the hard way. Appended to each chapter are fascinating "lessons" Schwartz has learned about ...
See more details below
This Audiobook (MP3 on CD - Unabridged) is Not Available through BN.com
Sending request ...

Overview

Schwartz makes us a part of the action as we follow his career from his first gut-wrenching day trading options on the American Stock Exchange to his enormous successes trading futures, his pursuit of secretive foreign money for his hedge fund, the night he spent trading bonds during the Gulf War (in that first tumultuous night, he made $1.2 million by dawn), and the often painful yet valuable personal lessons he learned the hard way. Appended to each chapter are fascinating "lessons" Schwartz has learned about the financial markets - where you'll learn about the attitude, style, and strategies that make Schwartz a winner. for the real nuts and bolts, turn to the end of the book and plunge into "The Pit Bull's Guide to Successful Trading," a manual covering Schwartz's favorite trading methods, market analysis tools, newsletters, and indicators.
Read More Show Less

Editorial Reviews

Publishers Weekly - Publisher's Weekly
After working several years in what he considered to be a dead-end job as a financial analyst at E.F. Hutton, Schwartz quit the firm, accumulated a nest egg of $100,000 and on August 13, 1979, bought a seat on the American Stock Exchange where he began trading stocks, options and futures. He quickly became an expert at trading S&P futures, and in his first full year as an independent trader made $600,000 and a year later earned $1.2 million. Schwartz's style was to get in and out of positions in a hurry; he rarely held on to any financial instrument for more than a day. As his success on Wall Street grew, he began his own fund in which he would manage other people's money as well as his own, a move he would regret. The stress of running the fund contributed to his developing pericarditis, which nearly killed him. His doctors advised him to slow down his lifestyle, so at the age of 48, Schwartz, along with his wife and two children, moved to Florida where he took up golf and developed a daily routine that allowed him to keep trading, but at a more relaxed pace. This is one of those rare autobiographies where the subject unintentionally portrays himself in an unfavorable light. As he grew ever richer, Schwartz became consumed with generating even more money and prestige so that he could "run with the top dogs." Inadvertently, he has written a cautionary tale on the dangers of being addicted to money and power. Coauthors Morine and Flint are freelancers. (Apr.)
Library Journal
A top trader offers an insider's story.
Library Journal
Schwartz narrates his personal account of trading big-money options on several financial exchanges. Options trading is very risky, and the average investor won't ever be involved with it. In the rapid-fire narration, Schwartz comes across as money-driven and obnoxious. He sprinkles vulgar words in an attempt to be humorous. The self-absorbed content won't help those who are looking for practical investment tips. Unfortunately, while bragging about his money and trading deals, the author doesn't tell the listener how to make some money. Instead, Schwartz goes off into details about his stress-related health problems. The promised investing lessons in the subtitle are not delivered. No sale.--Mark Guyer, Stark Cty. Dist. Lib., Canton, OH
Booknews
A candid, autobiographical narrative of financial securities trader Martin "Pit Bull" Schwartz. Beginning with his decision to become a trader after nine plus-years as an stock analyst, Schwartz describes, without censorship, his professional development from a timid and terrified "Newboy," to a yelling and cussing, quick thinking and fast dealing trader. His style is neither for the prudish, nor for the financially faint of heart. Clearly, a life in the pits is not for everyone. Annotation c. by Book News, Inc., Portland, Or.
Kirkus Reviews
A Wall Street trader exercises a rich man's prerogative and offers financial advice and his life story. "See how much money I made!" is the message. "I'm pretty smart and damned tough, too." To be sure, Schwartz ("Buzzy" to his pals) is the prototypical hard driver, a truly successful day trader, buying and selling in lightning strokes for his own account. His is a talent for exquisite market timing, a tricky game for even the most proficient professionals. His specialty is S&P futures, a technique using the marvel of leverage to greatly multiply the chances for gainþor lossþon each tick. It requires an inordinate amount of research as well as stamina, acumen, and nerve, but it can be worth millions every year. The alternative, as Buzzy frets, is "going tapioca." Buzzy dearly wanted his kids to say, " `My daddy's the Champion Trader!' That was all I cared about," he admits. With success came LutŠce lunches, expensive artworks, Armani suits, Bally alligator shoes, and other trophies. Schwartz essays a little false humility, but the book's evasive charm is based on chutzpah. In an effort to leverage with OPM (other people's money), the author established his own hedge funds until investors (the bastards) pestered him about their money. Don't be surprised to learn the result was heart disease. Now in Florida, trading again for himself, the quondam Champion Trader reveals, with some repetition, his story. It moves nicely, though, with a certain egomaniacal verve. An appendix gives the author's daily schedule (e.g, "7:20-7:30 Clean out the plumbing"). His investment methodology is also appended, but only the most devoted professional will utilize this rigorous lesson. Anarchetypal text, true to life on the Street, destined to be discussed over drinks at trader hangouts after the market closesþand better than going tapioca. (Author tour; radio satellite tour)
Read More Show Less

Product Details

  • ISBN-13: 9780786174683
  • Publisher: Blackstone Audio, Inc.
  • Publication date: 4/28/2006
  • Format: MP3 on CD
  • Edition description: Unabridged
  • Product dimensions: 5.30 (w) x 7.54 (h) x 0.60 (d)

Meet 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.
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)