|
The Complete TurtleTrader: The Legend, the Lessons, the Results (精装)
by Michael W. Covel
| Category:
Financial market, bond trading, Wall Street, Biography |
| Market price: ¥ 268.00
MSL price:
¥ 238.00
[ Shop incentives ]
|
| Stock:
Pre-order item, lead time 3-7 weeks upon payment [ COD term does not apply to pre-order items ] |
MSL rating:
 Good for Gifts |
| If you want us to help you with the right titles you're looking for, or to make reading recommendations based on your needs, please contact our consultants. |
|
| |
AllReviews |
1 Total 1 pages 8 items |
|
|
From the author, USA
<2008-01-25 00:00>
This is the story of how a group of rag tag students, many with no Wall Street experience, were trained to be millionaire traders. Think of Donald Trump's show "The Apprentice," played out in the real world with real money and real hiring and firing. However, these apprentices were thrown into the fire and challenged to make money almost immediately with millions at stake. They weren't trying to sell ice cream on the streets of New York City. They were trading stocks, bonds, currencies, oil and dozens of other markets to make millions.
This story blows the roof off the conventional Wall Street success image so carefully crafted in popular culture: prestige, connections and no place at the table for the little guy to beat the market and beating the market is no small task. Legendary investor Benjamin Graham always said that analysts and fund managers as a whole could not beat the market because in a significant sense they were the market. On top of that, the academic community has argued for decades about efficient markets, once again implying there is no way to beat the market averages.
Yet making big money, beating the market, is doable if you don't follow the herd, if you think outside the box. Anyone does have a chance to win in the market game, but he or she needs the right rules and attitude to play by. And those right rules and attitude collide against basic human nature. |
|
|
Publishers Weekly, USA
<2008-01-25 00:00>
Covel (Trend Following) revisits a famous financial trading experiment conducted by Wall Street trader Richard Dennis and extracts its lessons with mixed results. Dennis, who quickly learned how to trade after starting as a runner at the Chicago Mercantile Exchange in 1966 at age 17, had made a reported $200 million by 1983. To settle an argument with fellow trader William Eckhardt about whether trading ability was innate or could be taught, he put an ad in the Wall Street Journal offering to teach candidates how to trade in two weeks, and then backed them with his own money. Of the thousands of people who who applied, 23 turtles were accepted. Their trading made $100 million for Dennis, leading some to become highly successful traders in their own right. Having tracked down most of the people involved, Covel describes the turtle training, including rules for entering and exiting trades as well as Dennis and Eckhardt's personal lessons, and speculates on why some turtles succeeded more than others. However, there are too many characters with competing interests, and many missing facts. Covel's own strong views can also get more emphasis than the voices of the principals. Still, the book is a useful training manual distilling the lessons of a fascinating experiment.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
|
|
|
Bill Miller, Legg Mason Capital Management, USA
<2008-01-25 00:00>
If you want to beat the market, you have to do something different from what everyone else is doing, and you have to be right. In this fascinating and instructive book, Michael Covel tells how a group of novice traders used a system that generated trades that were both different and right, and which made them a lot of money. If you want to understand the real world of trading, read this book. |
|
|
SFO Magazine, USA
<2008-01-25 00:00>
Turtle Trader is a story. It's a beach-chair page-turner loaded with interesting, even offbeat, characters and, a fair dose of drama. It's part Chicago historical account and sociology text. |
|
|
Brett Steenbarger, author of The Psychology of Trading and Enhancing Trading Performance, USA
<2008-01-25 00:00>
Covel so clearly lays out [the] ingredients of success, his book is relevant ... to anyone who aspires to greatness in the markets. |
|
|
Bloomberg, USA
<2008-01-25 00:00>
Most beat-the-market books aren't worth my shelf space. This one is. |
|
|
Your Trading Edge, USA
<2008-01-25 00:00>
Tells the ‘real stories’ rather than just the glossy good bits - a thoroughly good read. |
|
|
K. Corn (MSL quote), USA
<2008-01-25 00:00>
In The Complete TurtleTraders, author Michael W. Covel tells the riveting account of a group of investors who were led by one remarkable man, Richard Dennis (with the help of his partner, William Eckhardt). Dennis was somewhat of an iconoclast, not brought up through the ranks of Fortune 500 company grooming programs, figuring out his own methods for making money.
Dennis was a successful investor who believed that investing
principles could be taught to anyone. His partner, William Eckhardt, disagreed, tending to believe that the talent was inborn. Their differing views formed the basis for a bet between the two men and led to one of the more remarkable experiments in investing history.
Basically, Dennis agreed to find a diverse group of individuals, give each recruit $1 million dollars, put them through two weeks of intensive training, teach them specific investing principles and methods and see how well they'd do after that. To add to the challenge, Dennis and his partner (who agreed to help teach the recruits) hired people from all walks of life.
Exactly how diverse was the group? Well, there was a security guard, a restaurant manger, an unemployed student, a bartender, kitchen cook, teacher and even a prison worker. Covel describes in detail how Dennis interviewed and selected each recruit, nicknaming them "The Turtles". He also chronicles their 14 days of intensive training. It wasn't easy but the potential rewards were great.
While the account of the Turtles' experiences is reason enough to buy this book, I want to stress that it is more than the story of that remarkable group of individuals. It is also the profile of Richard Dennis, his background and his own conflicting feelings as the experiment concluded and a second generation of Turtles came along. At times, it is hard to wonder if the Turtles succeeded too well, leading to mixed feelings in Richard Dennis as some of them surpassed him.
Covel also updates readers about some of the Turtles today. The book is so full of investing principles, guidelines and rules that I don't know how anyone with an interest in learning more about investing, trading or finances could pass this one up! |
|
|
|
1 Total 1 pages 8 items |
|
|
|
|
|
|
