by Victor Sperandeo
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Product Description
Trader Vic -- Methods of a Wall Street Master Investment strategies from the man Barron's calls "The Ultimate Wall Street Pro" "Victor Sperandeo is gifted with one of the finest minds I know. No wonder he's compiled such an amazing record of success as a money manager. Every investor can benefit from the wisdom he offers in his new book. Don't miss it!" --Paul Tudor Jones Tudor Investment Corporation "Here's a simple review in three steps: 1. Buy this book! 2. Read this book! 3. See step 2. For those who can't take a hint, Victor Sperandeo with T. Sullivan Brown has written a gem, a book of value for everyone in the markets, whether egghead, novice or seasoned speculator." --John Sweeney Technical Analysis of Stocks and Commodities "Get Trader Vic-Methods of a Wall Street Master by Victor Sperandeo, read it over and over and you'll never have a losing year again." --Yale Hirsch Smart Money "I have followed Victor Sperandeo's advice for ten years, and the results have been outstanding. This book is a must for any serious investor." --James J. Hayes, Vice President, Investments Prudential Securities Inc. "This book covers all the important aspects of making money and integrates them into a unifying philosophy that includes economics, Federal Reserve policy, trading methods, risk, psychology, and more. It's a philosophy everyone should understand." --T. Boone Pickens, General Partner Mesa Limited Partnership "This book gave me a wealth of new insights into trading. Whether you're a short-term trader or a long-term investor, you will improve your performance by following Sperandeo's precepts." --Louis I. Margolis Managing Director, Salomon Brothers, Inc.
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Average Customer Review:
0 of 0 people found the following review helpful:
 A foundation for trading and investing success, 2008-06-22
"A trader and money manager, Victor Sperandeo has 38 years' experience in Wall Street. He has managed money and traded for institutional accounts and well-known professionals such as George Soros and Lee Cooperman. He is especially known for his ability to make money in declining financial markets."
At its core this book converts the nebulous world of the stock market into one that can be defined in terms of clear risks and rewards. It is about helping investors use mathematical probability and a disciplined approach to investing to put the odds in their favor time and time again. In many ways that it was successful investment is all about: finding a system or a theme that is likely to work for the long haul.
However, this is not a boring academic text. The simple math is there to achieve real world results. For example, he argues that he enters a position when the risk/reward is 1:3 or lower; when the likely loss is 1/3 the likely target, often based on support/resistance areas.
The book is much more comprehensive than just defining risk/reward metrics. It discusses Dow theory and provides insight into some important technical and trend analysis that has stood the test of time. It goes into the emotional aspects of trading and how to turn emotion from a potential burden into a boon.
Just as importantly this book looks a bit at the why? behind things. Some people may think that the concepts of how money is controlled, what role the Fed plays, etc. are boring. Guess what? This book was written in 1993... which goes to show in today's credit crisis just how much this guy knows. When people lose sums of money because they don't understand the basics of credit and money supply as it pertains to the market perhaps such "boring" topics become more poignant?
I love this book. It has a little bit of everything yet, thank goodness, is not the next 'War and Peace' (in terms of length). No book suits everyone and I'm sure that there are people out there who will not be satisfied by this book. However, I think that everyone other than perhaps the most seasoned investors/traders (i.e 15+ years of extensive market experience) can at the very least gain from Sperandeo's point of view. In terms of his viewpoints being for beginners or amateurs I just have one claim to make... if the principles laid out here are good enough for Soros, Cooperman, and other top money managers... perhaps I'm unclear on what an "amateur" really is....
2 of 3 people found the following review helpful:
 Of all the books on investing........this is one of 'em, 2008-01-21
I've read many, many investing books and trade stocks, options, and etf's. I figured that after the reviews this book would have some new, fresh ideas. The only thing I got out of it was the correct way to draw trendlines. Everthing else was pretty much the same stuff most beginner investing books have to say.
2 of 9 people found the following review helpful:
 The absolutely unbelievable Vic, 2008-01-06
I went to junior high with Vic S. (PS145 in Jackson Heights, NY) While he was a very good athlete, NOBODY who knew him then could possibly believe he would end up as Trader Vic. Shows what a great country we have. Anyone can do almost anything.
1 of 2 people found the following review helpful:
question, but will revise review in the future, 2007-05-18
I think this is a very good book. well worth $10 you might pay for a used copy. I will revise my review in the future.
Please answer this question: it is easy to determine resistance, but what about a run away stock? For example, Sperandeo recommends a risk:reward of at least 1:3. But how can you determine an upside target on a stock that's going to new highs that is not totally arbitrary? Please leavea comment.
1 of 3 people found the following review helpful:
 ok, 2006-10-26
He has very some very intresting concepts in this book that can help your trading out allot but i felt the book could have been a bit shorter.
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