Stock Market Wizards : Interviews with America's Top Stock Traders

Rating:
Summary: Worthwhile although not as great as first two
Review: While I enjoyed this book and would recommend it to stock market investors, I didn't think it had the same depth and level of insight as Schwager's first two Market Wizards books, which I consider two of the most valuable volumes in my investment library. There were a few interviews that I liked, though, such as the one with Ahmet Okumus, the Turkish immigrant who buys quality stocks he thinks have been punished too much and will eventually turnaround. Furthermore, he sells puts on them when he thinks they're still overvalued for the options income, and if the stock declines to that level, he's actually delighted to have the stock "put" back to him since he really wanted to own the stock at that price anyway. This means he does exhaustive fundamental research and must be very accurate and confident in and of his valuation of the company for this to work, and his historical returns show he can make this work, too, as it significantly added to his overall performance. I thought that was an interesting strategy and an example of someone with a niche that they're able to exploit. I still found most of the other interviews worthwhile, though, and I would recommend this book to stock market investors since there is a lot of good advice about the pitfalls of investing there, too.