The Education of a Speculator by Victor Niederhoffer

[Soultrader 12]

You will either love this book or hate it. This book is more of Victor's personal blog writing about his early days as a squash player to his victories as a speculator. One might find his ego a bit annoying. The author jumps from topic to topic, some relavant to speculation and some not. Overall there is alot of good trading wisdom.

 

This book is not meant to be read to learn about trading strategies or market tactics. What you will learn is Victor Niederhoffer's autobiography. However, I have to admit he is one brilliant guy and alot of the tips and advices in the book is priceless. If you are looking to invest in the markets, read this book. If you are looking for a good trading story to read pick this book up as well.

 

I wouldnt quite say this is a modern day Reminiscence of a Stock Operator but it is definitely a book one should read.

[Guest cooter]

And here's a link to the original:

 

Scribd - Reminscences of a Stock Operator

 

Free to download and enjoy at your convenience.

[darthtrader 10]

"You will either love this book or hate it"

 

that pretty much sums it up but i would first recommend Practical Speculation over this book. I think if you get anything from that book the probability you will like this book increases exponentially.

If you have any bent towards value investing the thing to watch is this book on amazon used, i got a hard copy from a library for 99 cents .

 

I love Niederhoffer and dailyspeculations so i cant rate this book without bias, hes my original hero.

 

soultrader do you have any knowledge of how Vic actually trades? I assume he stat arbs options? that i soppose is the best thing about Vic's books, nothing could be farther from "how to make money" as he basically tells you nothing in that area.

[dalby 10]

considering neiderhoffer blew out his own account (as well as others) selling index puts and trading asia, and IGNORING risk, i have little respect for him. it's not that i love or hate the book, it's just that i believe that he outs himself as a pompous know-it-all who doesn't practice sound risk management, which is a primary rule of trading.

[darthtrader 10]

dalby, "You will either love this book or hate it."

 

To me Niederhoffer is a genious, you can gain from this book if you see that his weakness is that he speculates like hes playing squash. he wants to win and beat everyone no matter what. I want my equity curve to be nice and smooth but i'm under no delusion ill ever be as rich as Vic. If i had his brain i would do the same thing, but since i don't you can still learn from him as long as you see what his downside is.

[darthtrader 10]

also everyone should check out his reading list

The Speculator's Reading List

 

I also pitty the poor soul that ever has my children

2_vic_template