Jack Schwager, author of “Market Wizards,” discusses his advice for aspiring traders in a series of YouTube interviews. He emphasizes the importance of risk management, setting stop losses, and being objective when making decisions to exit a trade. He also discusses Bruce Kovner, Michael Marcus, compares fundamental and technical trading, and indexes like the Magnificent 7 and Russell 2000 as examples of the stock market.
Schwager was looking for traders who had spectacular records of performance, and he found some famous traders like Richard Dennis and Bruce Kovner. He was curious what other traders would recommend, and through research, he found other traders achieved remarkable victories. Overall, he knew that he wanted to provide readers with a creative view of the stock market and show how traders who are different from each other could have successful trading careers.