Masters in Business: Market Wizards by Jack Schwager (Audio) by Bloomberg View:
Barry Ritholtz interviews Jack Schwager.
Great advice for any kind of investor--well worth taking the time to listen to the whole interview:
Barry: hold "strong opinions, loosely held"
Jack Schwager, author of “Market Wizards: Interviews With Top Traders.” More than 25 years after the first book was published in 1989, the series remains one of the most widely read books on Wall Street trading desks.
There are consistent themes found in Schwager’s interviews: discipline, risk management and capital preservation, intellectual flexibility, personal responsibility and honest self-appraisal. William Eckhardt, who famously debated with Richard Dennis about whether trading could be taught, summed up many of these rules with the quote: “Amateurs go broke taking large losses, professionals go broke taking small profits.”
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