The trading strategies of legends Jesse Livermore, Bernard Baruch, Gerald Loeb, and more provide ways to triumph in the market
Today's bookshelves are so laden with Johnny-come-lately experts, eager to sell their knowledge to any and all, that it's sometimes hard for traders to know which way to turn or whom to trust. Lessons from the Greatest Stock Traders of All Time makes the choice simple, examining the careers of five traders--Jesse Livermore, Bernard Baruch, Gerald Loeb, Nicolas Darvas, and Bill O'Neil--who, more than any others over the past century, demonstrated tremendous success at conquering Wall Street.
This technique-filled book presents numerous ways in which the timeless strategies of these investing icons can be used to tame today's high-speed, unforgiving marketplaces. Comparing and contrasting the successes--and occasional failures--of these five giants of finance, it reveals:
- What Jesse Livermore did to correctly call every market break between 1917 and 1940
- How Bill O'Neil stuck to basics to create his famously effective CANSLIM system
- The strategies Nicolas Darvas used to become a self-made millionaire several times over
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About the Author
John Boik is an active trader and former stockbroker. He is the former assistant controller and special finance project manager for Washington Mutual Finance. He lives in Atlanta.
Most Helpful Customer Reviews
Can ordinary people really make money in the stock market? The five famous traders author John Boik profiles here would probably answer 'yes,' but it would be a qualified yes. Beating the market requires more than just following a trading formula, as the stories of these traders¿ lives make abundantly clear. To win at the great game of Wall Street, a trader must learn from experience, and that means spending long hours studying. The trading rules and strategies in this book are enlightening, but most of them involve judgment calls that could only have been made by someone familiar with the daily rhythms of the market. Though the careers of the subtitle¿s 'Greatest Stock Traders of All Time' span more than a century, their personalities and strategies are strikingly similar, a fact that Boik highlights well. Their similarities suggest that successful traders may be born with the necessary high risk tolerance, but that to become sustained victors, they need to develop strong work ethics, cultivate independent minds and never give up. We suggest this book to active traders, not buy-and-hold investors - those with low risk tolerance need not apply.