My guest today is Jack Schwager, a recognized industry expert in futures and hedge funds and the author of a number of widely acclaimed financial books. Schwager is one of the founders of Fund Seeder, a platform designed to find undiscovered trading talent worldwide and connect unknown successful traders with sources of investment capital. Previously, Schwager was a partner in the Fortune Group (2001-2010), a London-based hedge fund advisory firm.
The topic is his book Market Sense and Nonsense: How the Markets Really Work (and How They Don’t).
In this episode of Trend Following Radio we discuss:
- How Schwager was able to make “Market Sense and Nonsense” accessible to both professionals and laymen and touch on some of the subjects contained within: market fallacies and misconceptions
- The idea of cable news “experts”, and what would happen if you actually followed all of the picks made by people like Jim Cramer and other talking heads
- Comparing performance streams against each other, and why you have to consider more than just the number
- Volatility vs. risk
- If coming to a good risk adjusted return is based more on a scientific approach or personal preference
- Leveraged ETFs
- The fear of hedge funds
- The idea of leverage and why much of “Market Sense and Nonsense” was built around trying to understand it
- Why fund-to-fund managers putting a large group of trend following traders together in one portfolio might not be a wise move
- Presidential election and discuss why whoever is selected to be the next president might not make much of a difference in the markets
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