Rating: 
Summary: One word: Horrible!!!
Review: "Education of a Speculator" a very poor read, rambles on endlessly without point or object. I am myself a professional trader and an avid reader of a spectrum of financial literature ranging from classics like "Reminiscence of a Stock Operator" to modern works like "Alchemy of Finance." The book itself, in the fashion that it was written, lacks the very skills that are invaluable to all traders: Focus, continuity, objective and clarity. As a teaching aid, "The Education of a Speculator" certainly does not teach by example. "There is the everyday fool who does everything wrong all the time and then there's the Wall Street fool who makes a buck an feels compelled to write about it" (an adaptation from Reminiscence). If you could trade this book I would definitely short the market! I SELLLLLL!!!!
Rating:
Summary: Victor -Victorius?
Review: I purchased Mr. Niederhoffer's book after his much publicized debacle in the stock market in October, in an attempt to understand what could have motivated him to take the risks that brought his trading career to an end. What I got out of the book, besides a plethora of shameless self-aggrandizement was reinforcement to the old adage that sometimes, it is better to take than to give advice. Mr. Niederhoffer's herky-jerky style and numerous tangential forays into the "academic & philosophical " foundation of speculation do nothing to keep the readers attention or interest and at best comes across as intellectual chauvanism. This approach to the subject, liberally sprinkled with accounts of what a big lasagna he is (was?), makes for a tedious and sometimes annoying read. A point worth highlighting was, his accurate description of the "HOO-DOO" or "tipster" (in laymans parlance) and his recollection of meeting Ivan Boetsky, in the prime of his career, and regarding him in this light. From Niederhoffer's accounts of how many times he was closing to losing the "farm" and his repeat mistakes in the markets, calling Boetsky a HOO-DOO smacked a bit hypocritical. To say that Victor Niederhoffer was an accident waiting to happen is a fair assesment of the book. (Ironically, his best friend George Soros seemed to think so, as Niederhoffer so proudly boasts in the opening chapter.) Playing the absent-minded professor in the reality of the modern financial world can exact a tremendous price. Sadly, Niederhoffer was too busy telling everyone else this, and forgot to take into account his same weaknesses.
Rating:
Summary: What an ego!
Review: If he's such a hot-shot, why does he have the time to write a book? Shouldn't he be trading
Rating: 
Summary: Great for context
Review: I had no idea who Victor Neiderhoffer was before I read this, and so was pleasantly surprised when I found he had something to offer. This book is not a how to guide but rather a set of guiding principles that can be used to shape a strategy. Well worth the effort
Rating: 
Summary: Self-congratulatory---self-delusional?---biography
Review: You only have to read the Wall Street Journal of 9/10/97 to learn that the author--actually his hedge fund investors--were almost totally wiped out in the recent Southeast Asian currency and market collapse.Victor claims in the WSJ that George Soros told him to remain in the Thai market after it started its meltdown. Hmmm, what about Victor's individual responsibility for such a decision? It is always quite telling to have the opportunity to judge the future performance of a supposed investment genius, especially when the publication of a self-congratulatory biography coincides in time with a total reversal of his/her investment fortunes. Wonder what Victor will call his sequel--"Flunking out of a Speculator", perhaps? As a final note, since Victor repeatedly links himself to George Soros in his book, please note that Soros got out of Southeast Asia unscathed, and has now reentered it to "pick the bones" of failed investors such as Niederhoffer
Rating: 
Summary: New Traders Start Here
Review: Most books for daytraders/ speculators offer "guaranteed profits". Yawn! Far more important than reading about absolete trading strategies is to understand what makes a great trader. This book reveals a mega-trader's mind, and how it evolved. I no longer discuss trading with anyone until they have read this book
Rating:
Summary: Educate yourself!
Review: As a professional violinst, I related to the musical references in this book! From Beethoven to Bach, bookies to checkers, poker to race tracks; Dr. Niederhoffer knows what he is talking about. And what a lucky fellow! To have perfect pitch and keyboard skill on the one hand, and to have been a championship sportsman and professorial academic on the other, bespeaks a marvellously broad education. This is a man to learn from. A principle of commonality underlies the topics covered. The author's incisive style ties his many varied experiences into a neat bundle of lessons. Read this book and learn to profit from your own experiences. Finally, when it comes to the arcane subject of speculation, honesty of the author is of the first importance. Thankfully, the gifts presented in this book are illuminated by sharp wit and a sincere desire to educate.
Rating:
Summary: Great Book! - 250 pages "Packed" into 444! (sic)
Review: Long on insight, but you will NOT have it spoon fed to you. Don't look for trite examples of how to invest. The book helps get the reader into the mind of a successful speculator. If you believe that success is its own justification, then Niederhoffer needs no justification - his trading is proof of his theories of market inefficiencies and speculators' contrarian attitudes. I would challenge my academic colleagues to prove, with their own trading, why he is wrong.
I am sure that the book, if widely read, will rattle some cages and ruffle some feathers. Unfortunately, to get to the meat the reader must both slog through some redundancy in the presentation of the mind of the speculator and the history of V.Niederhoffer. After that, you still must be able to read through the lines and think for yourself - this is not a "do it yourself" manual.
Excellent Chapter 15 on the "Ecology of Markets." I use the feeding chain chart (Figure 15-1) in lecturing to university classes on Investments. Explains what every "local" I met in the futures pit knew, but never told.
Could have benefitted from some judicious editing, but I still couldn't put it down and was disappointed when it was finished.
Rating: 
Summary: Full of juicy tidbits but steeped in egotism.
Review: The author obviously knows his subject but is overawed by his own expertise. A trend spotter par excellence, this book both makes a mockery of trends (he always bets against) and also subjects trend analysis to the kind of stupefying statisitical fury which is at core devoid of meaning. In a fit of Wall Street honesty he reminds us that no book of this price would detail any effective scheme of success even if it was available, which perhaps it isn't. (Note: in Niederhoffers World, that conclusion would probably spawn a derivative) Suffice it to say that if you can't spot the fool in this book, then you are the fool. Norm Marcu
Rating:
Summary: No one-line summary.
Review: I was more impressed with Victor's Squash championship (which he endlessly describes) than his trading strategies. On the other hand, he made honest and reasonable efforts to describe complexity. His best assest seems to be having lost serious amounts of his own and other people's money. Its quite distrurbing to read his descriptions of massive sessions (40+ hours) in front of trading terminals.
I am old
but I sure don't trade the yen :-)
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