Think of it as Wall Street’s “instruction manual”…
Jack Schwager’s 1989 book, Market Wizards, is one of the most underlined books in my library.
It’s also a classic on Wall Street.
And it teaches a vital lesson about how to make money in the markets over time.
Take it to heart, and you’ll be able to grow your wealth… even when stocks are in a bear market, like they are today.
Ignore it, and you’re unlikely to make and hold on to gains. You could even wind up poorer, not richer, as an investor.
Let’s dive in…
Market Wizards proves the academics wrong…
The big question for us as investors is, “Can you beat the market?”
Finance academics say, “No, not unless you’re very lucky.”
If that’s right, anyone trying to beat the market is delusional.
But Schwager was a trader, not an academic. He knew other traders had proven the academics wrong. And he set out to find them and learn their secrets.
For Market Wizards – and its four follow-up books – he talked to the greatest moneymakers on Wall Street.
Take Paul Tudor Jones… He shot to fame after making about $100 million from the 1987 “Black Monday” market crash.
Or Jim Rogers… In the early 1970s, he cofounded the Quantum Fund with George Soros. It gained 4,200% over 10 years.
Schwager also talked with Richard Dennis. He’s the Chicago-based commodities trader who made a personal fortune of $200 million from his speculations.
And there’s a chapter featuring Ray Dalio. He runs the world’s largest hedge fund, Bridgewater Associates.
Larry Benedict also made the cut…
As regular readers will know, Larry is a friend of Legacy Research and one of America’s most prolific moneymakers.
Between 1990 and 2010, he didn’t have a single losing year as a hedge fund manager.
That includes 2008. In a year when most American households lost 25% to 30% of their net worth, Larry’s hedge fund generated $95 million.
How did Larry notch this legendary winning streak?
In a word, discipline.
Most folks think traders take big risks to earn big rewards. But that’s just the Hollywood version. In real life, great traders like Larry are obsessed with managing their risk.
That’s the most important lesson of the book…
Schwager’s super-traders all said finding a discipline that works – and sticking to it – was the key to their success.
When Larry was running his hedge fund, Banyan Capital, he’d sell his entire portfolio if he went down more than 2.5% in a month. Then he’d start with a clean slate the next day with more conservative trades.
And he’s continued that conservative approach at his Trading With Larry Benedict advisory business.
In 2022, he made 11 trade recommendations at his One Ticker Trader advisory… and every single one was a winner. And if you’d followed them all, you’d be sitting on a 240% return on your money.
Larry isn’t resting on his laurels…
His goal is to bring his subscribers new ways to trade and invest that most folks have no clue exist.
It probably won’t shock you to hear it, but hedge funds have ways of making money few regular investors know about.
But Larry knows all about them after 35 years as a professional trader and hedge fund manager… and he’s sharing them with his readers.
And one of them is how to trade what Larry calls “Money Shocks.”
These happen on 32 prescheduled days.
On Money Shock days, Larry has given his followers the chance to make returns of…
53% in 1 day
100% in 1 day
115% in 6 days
175% in 1 day
100% in 1 day
69% in 50 days
100% in 1 day
47% in 1 day
100% in 2 days
38% in 2 days
That’s just a small sample. He’s had 89 winning trades in his model portfolios since the start of 2022.
And this strategy has proved so successful, he’s put together a Money Shock Calendar. It marks the 32 days to pay attention to this year.
Larry will be sharing even more about these dates… and how to trade them… next Wednesday, February 22, at 8 p.m. ET.
So if you’re interested in hearing from this Market Wizard… and learning how to make gains like these in your portfolio… make sure to tune in.
To RSVP with one click, go right here.
And make sure to tune in for tomorrow’s dispatch. You’ll hear more from Larry about these Money Shocks… the driving force behind them… and his strategy to play the opportunity.
Editor, The Daily Cut