Unknown Market Wizards
Schwager returns three decades after Market Wizards to ask a different question: who are the great traders nobody has heard of? Solo operators trading their own money from home offices, with track records he checked against their account statements, some compounding at rates the famous names never matched. The lessons converge where they always have, on risk and self-knowledge, reached this time without an institution's net.
Series veterans read this as the weakest installment, comparing it against the earlier Market Wizards books, and one reviewer admits reaching for “the latest edition mainly just to complete the saga.” The traders here run smaller accounts than the hedge-fund names in prior volumes, and one reader complains this crop “doesn’t seem to have the same calibre of traders the others did.” The lessons pile up until they flatten into “be prepared, practice, and use risk management techniques,” the whole book reduced to three instructions. Futures-market interviews land duller than the stock-picking chapters and get skipped. Peter Brandt’s chapter draws suspicion that friendship with the author mattered more than his results, and the closing synthesis chapter retreads ground the profiles already covered. The lineup skews so heavily male that one reader asks outright, “Are there no strong women trader?”
The case for it and the rest of the canon open with Pro.
