Rating: 
Summary: Overall good book
Review: After reading most of the reviews I was not expecting this book to be as good as his first two books. However, after reading it and going back to take notes of what I highlighted I have to admit that I enjoyed this book just as much as the first two. Perhaps because the first two were geared to the futures market and the new book is all stocks. I also agree with some of the other reviews about some of the interviews being weak. Although I am a growth/momentum trader I was really looking forward to the interview with Mark Minervini but after reading it I was very disappointed. If his account size is the half the size of his ego then he would be the richest man in the world. I am automatically suspicious of someone who has a goal of being interviewed as a "market wizard". Although I did write a few notes from his interview I noticed that he really didn't have anything new to say that he didn't get out of a book like How to Trade in Stocks or How to Make Money in Stocks. He almost quoted these books to the letter. He also didn't give any background of how he got started trading, how he trades, or his "secrets". (for all you new traders out there are no secrets just hard work) I am sure his "secrets" are nothing more than patterns he read in a book. I am not expecting to reveal everything you do but why even include him in the book if he is such a difficult person to talk to. After reading his interview I decided to check out his website and I had to laugh at the returns he has on it. From 1995-1999 he has averaged a 220% compounded annual return. While this is a great number it also happens to be the greatest bull market in history during that time. I started trading in 1998 and in 98 and 1999 I had triple digit returns. So if someone just starting out can make those type of returns what makes him so special? What would really be interesting is to see how he has done since spring 2000 to the present but that is conveintely left off his site. There were some other interviews worth reading like Mark Cook and Stuart Walton. Both of whom know there are no "secrets" to trading. Also the interview with the pure short seller was interesting. She said that she didn't like to trade on the long side because making money didn't seem like work to her but selling short in a bull market takes a lot of work. I kept asking myself during the interview if because she is a woman she feels she needs to "work" at her job in order to be respected. From my point of view she seems like she needs to prove something to somebody or mayber to herself. Although some of the interviews could have been deleted this is a good book especially if you trade stocks you can relate to stories better than the first two books. I agree with one of the other reviewers I would like to see a follow up on the market wizards of all three books to see how they have done and what has or hasn't changed.
Rating: 
Summary: what a joke!!
Review: What is the point of doing an interview with traders who act like they have some kind of secert. Wake up people, there is no secret. the secret is mastering yourself. once you have done that and you follow the basic rules of trading, the money will follow. It cracks me up when these traders say they do not want to talk about thier methods. The trend I see is these traders get burned out and go on to writing books and doing seminars and teaching. If they are so successful, lets hear how they became successful. The only part about the book I enjoyed was on Mark Cook. About his persistence to do well. Save your money and learn how to master your own mind. Get trading for a living by mark douglas.
Rating:
Summary: not a masterpiece but better than expected
Review: I bought this book partially out of homage to Schwager, as the first two market wizards had such a powerful effect on my methodology and mindset (though ironically, not until the third or fourth reading of each after two or three years of having them on my shelf). But mostly I bought SMW because I wanted to read the interview with Mark Cook, an exceptional trader who I have heard a fair bit about through the grapevine. Cook aside, my intuition told me that this book would be a letdown overall, and that's what it is when compared to the first two. Being prepared for this before shelling out my couple bucks tempered my disappointment though, and allowed me to get more enjoyment out of the occasional bright spots. After reading a few of the interviews a second time, I have to revise my earlier poor impression and give Schwager more credit. I have to upgrade my initial assessment from mild disappointment to worthy and interesting read, which is why I changed my mind on the initial three stars and gave it four. Some of the guys in here were pretty weak- like the one who basically buys bludgeoned value stocks and waits for them to come back, or the guy who calls CFO's for trade ideas, or the italian buyout guy who sounded more like he belonged in a corporate finance book'but a few of them were really pretty interesting and made up for the poor fits. The measure of interview books is whether those being interviewed have unique and interesting things to say, or a fresh angle on a subject to give it a new or insightful perspective. I thought that Minervini had some interesting commentary on why papertrading is a poor substitute for the real thing, and how skilled traders can use their gut feel after developing it while novices have to fight it. Bender's perspective on options pricing was fascinating and rooted in common sense that most quants overlook. Walton was interesting because his psychological background was so refreshingly atypical, and Cook just comes off as a candid, open and great guy all around. So when all is said and done it's a step down in quality from MW I and II but still worth the time and cash to read. Two interesting thought paths that I found developing further after reading this book: what are the psychological implications of the fact that so many successful traders blew out or went through severe financial pain early in their careers; is this some kind of necessary catharsis that leads to greater chance of success, and if so what are the deeper implications. Secondly, why does it seem to be a common theme of successful short term traders (who tend to be more consistent than long term players and sometimes much more profitable) that they have to 'work on taking profits too quickly.' In other books as well, Marty Schwartz from the first MW for example, and one or two guys in here, taking profits too quickly is something they chide themselves for and say that they have to work on. But is this tendency somehow related to their success? I think it's at least a possibility, because the thought of taking profits off the table ('making the cash register ring,' as Schwartz so aptly puts it) has been so vilified and rejected by the common wisdom that there just about has to be some value in it.
Rating: 
Summary: You will always get what you want in the markets
Review: I highly recommend this compilation of interviews for anyone remotely interested in trading, whether a novice or a pro. Many pearls of wisdom from several of the best traders ever, across many markets. Driven home to me is the fact that investing and trading is all about psychology and the ability to confront one's weaknesses head on. The ironies are numerous. For example, one of the underlying themes is that you can't win in the markets until you learn how to lose, and lose often. This is counter-intuitive as are many of the necessary ingredients for successful trading. This book is a gem and so is the sequel.
Rating: 
Summary: Not as good as the previous two wizards
Review: I really enjoy the two Market Wizards by Schwager and learned a lot from them. And I was waiting the third one in the series for a long time. Unfortunately, this one is not as good as the previous two. The price is higher and the contents are less useful. There are quite a lot of irrelevant questions. And some of the interviews do not give any insight about the methods used by the traders. One of them denied disclosing anything about his system! Another guy said he would hold a position as long as he thought it was ok and he didn't use stop loss. But he also said there were two trades nearly killed him and he lost 30% of his capital!!! Is this a wizards? When I was reading the previous Wizards, I needed to highlight the critical points and there were plenty of them. I also read them over and over. But I did not need to do that this time. You can skip quite a lot of the questions and only read the few that are related to trading. My conclusion is if you can borrow this book from the library then it is still worth reading. If you need to pay for it, buy the previous two books instead.
Rating:
Summary: Better than ever!
Review: As a professional equity trader, this latest book from Jack Schwager is my favorite.
Rating: 
Summary: Rushed to get this one in
Review: Schwager has probably been too busy trading or better said trying to trade to devote himself to this book in the same way he did to the last ones. He had to do it fast because "in a rare speaking event, Jack Schwager - Being presented the 'Trader's Hall of Fame' award." Which is given out by one of the booksellers of trading books. The trader's hall of fame award, Please! May I suggest that you dig out Jesse Livermore and give him the award first? I liked the first book. The second book was okay. This book is a waste of money. Sorry Jack, but you ruined a good success story by publishing this mediocare book!
Rating:
Summary: THIS BOOK IS NOT ABOUT TRADING
Review: This book is about anything and everything EXCEPT trading. It is about how Jack Schwager, the author, is late for planes (this is the subject of the introduction), how Jack is late for interviews, where various traders have worked and how they liked their previous jobs, what their offices look like, etc. This book reads as though it was assembled very hastily. The interviews are short and very, very shallow. This book is so far below what Jack Schwager is capable of... $ can be much better spent elsewhere... This book was a frustration and disappointment for me.
Rating:
Summary: Rare Access to Valuable Information
Review: First of all, as I write this, the cost of the book is $22.40 plus S&H. Many of the other reviews suggest that it fails to provide sufficient value. Apparently I don't understand something. How much is it worth to gain direct access to the intelligence and experience of some of the most successful stock traders? In any event, this is one of three books by Schwager which have been highly praised by others. (I plan to review the other two, Market Wizards and The New Market Wizards, in the near future.) In it, he provides introductory comments on and then interviews of 15 stock market "wizards." For each, he offers clever as well as relevant phrases which differentiate them. For example, for Stuart Walton ("Back from the Abyss"), Mark D. Cook ("Harvesting S&P Profits"), Mark Minervini ("Stock Around the Clock"), and Claudio Guazzoni ("Eliminating the Downside"). Revealingly, although the 15 stock traders have significantly different perspectives on investment and (sometimes reluctantly) divulge different strategies, they seem to share certain common beliefs which Schwager characterizes as "Wizard Lessons." They include: 1. There is no single "truth." 2. Her or his trading style must be appropriate to each trader's personality. 3. Perseverance usually separates "winners" from "losers." 4. Great traders are flexible and resilient. 5. It takes time (probably many years) for a trader to succeed. 6. It is imperative to formulate a trading philosophy which integrates market concepts and trading methods. 7. Every great trader has a specific "edge." (What are your answers to the questions listed on page 301?) 8. Great traders develop and then sustain a high level of self-confidence. 9. Successful trading requires a FULL-TIME commitment. 10. Market "wizards" are bold and innovative but not reckless and impulsive. 11. They are willing to accept a loss while rigorously controlling risk. 12. They may view undervaluation as a necessary condition for purchasing a stock but never as a sufficient condition. 13. Their transactions are guided and informed by a trading model based on catalysts. 14. Market "wizards" pay at least as much attention to "when to get out" as they do to "when to get in" 15. Market "wizards" know themselves (warts and all), work very hard, trust their own judgment, constantly review/evaluate decisions, and are patient. For about the cost of a breakfast at a restaurant in the Wall Street area, Schwager introduces his reader to 15 immensely successful stock traders and then allows the reader to "eavesdrop" on in-depth interviews of them. Schwager also helps his reader to compare and contrast their mindsets, strategies, and convictions. A value-added benefit is the provision an Appendix in which Schwager discusses "Options: Understanding the Basics." For novice investors, this book is an invaluable source of wisdom on HOW NOT TO THINK and WHAT NOT TO DO. I presume to suggest that there is another audience for this book which Schwager may not have had in mind when writing it. I refer to those who are now involved in start-up preparations or who have already launched a new company. Whether or not an IPO is one of their objectives, they can learn a great deal of value from the "Stock Market Wizards" in terms of allocation of resources (especially human capital), "early-warning signs", and crisis management. To them I also highly recommend Rob Ryan's Entrepreneur America.
Rating:
Summary: Not bad
Review: This book made for interesting and inspirational reading, but clearly lacked the substance of the first two. Several of the traders interviewed used "buy weakness" strategies, but their trading histories are only composed of bull market conditions. A far cry from the people in the first two books who had seen and survived numerous cycles of bull and bear markets.
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