How to be successful in the market? - review of the book “Artyści Rynków”

Quite recently, a very inconspicuous (in appearance) book by Michael McCarthy was on my shelf. "Artists of Markets". At first glance, small in volume, makes up for the content from the first word read. If I were to define one sentence, it is something like a discovery of the backstage of the financial world with the presentation of eight different points of view on the market.

First, podcasts, then a book

Before the book appeared, it was released earlier a series of podcasts made by Michael McCarthy. They were available only in the English version. Only with time it was decided to release a book that would be their translation into Polish. The book is therefore quite characteristic in terms of the content itself. We will not read extensive explanations of stock market formulas or ways to analyze the market. The very form of continuous interviewing is very accessible, therefore the next pages of "Market Artists" are efficiently absorbed. The only thing that could be colloquially speaking is to stick to the length of conversations. Some of them could actually be slightly longer, which would considerably increase the content of interest for the recipient. Of course, I also understand the fact that this is a translation of podcasts into paper, therefore a slightly condensed form of the interview is desirable.

Behind the scenes of the traders' stage of fame

What interviews can we find? The book contains more precisely eight conversations. Michael McCarthy leads them with Raoul Pal, Ray Barros, Linda Raschke, Peter Cruddas, Jack Schwager, Ticky 'Fullerton, Brett Steenbarger and Graham O'Brien .

Each of the conversations reads very freely. An undoubted advantage is the opportunity to learn the specificity of the game of the above-mentioned people from the world of finance, their approach to work, motivation, idols, or a look at the market. Thanks to their stories, you can sketch in your mind the image of the industry in which they work on a daily basis and what it involves.

Summation

The book "Market Artists" in my opinion is an interesting position primarily for novice traders who want to get a certain picture of how the financial world operates on the level of multi-billion dollar companies managing customer funds to individual approaches of people who earn / earn on the stock market. For more experienced players it will be an opportunity to compare aspects of psychology, position management or approach to conducting and concluding transactions, confronting this information with your world of trading.

You can draw a lot of valuable lessons from it, for example regarding the time horizon of investment, approach to failures, the essence of data and how to make multi-million investments. The book shows that the trader is not just a man in front of the graph, armed with iron nerves. I would even be tempted to say that Michael McCarthy was conducting talks in such a way that not only to reach the maximum substantive value for the reader, but also to show the human side of trading. Reading "Market Artists" (at least a large majority of interviews), we can feel as if we were talking with a good coffee friend after work. Undoubtedly, the free style in which this work is developed favors a potential reader.