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Tricks

Jack Schwager’s hunt for mythical beasts

Jack Schwager’s vast knowledge of the trading landscape allows him unparalleled access to some of the greatest minds in investing. His best-selling book series, Market Wizards, explores the strategies of some of the best-known and most successful hedge fund managers of all time.

More recently, Schwager has added to his list of accolades in founding FundSeeder, a financial data and analytics platform that helps connect talented independent traders with financial institutions.

 

Listen to the interview:

Apple Podcasts

Spotify

 

In the most recent episode of Opto Sessions, Schwager explores one of the fascinating characters he profiled — Amrit Sall, the unicorn sniper.

“The essence of what he's doing is specialising in event trading,” Schwager explained, delving into Sall’s strategy. He recalled how Sall will focus on particular financial events, such as a Federal Reserve statement, and plan studiously.

“He has literally thousands of pages of notes that he's taken on his trades, what the circumstances are, what his strategy was, what worked, what didn't work,” Schwager said.

“He has literally thousands of pages of notes that he's taken on his trades, what the circumstances are, what his strategy was, what worked, what didn't work”

 

“He also categorises them into different types of situations. Whenever there's an event coming, he's able to draw on past analogues to that type of situation.”

Schwager explained that through this rigorous preparation, Sall has prepared a game plan for almost every eventuality.

“He'll really plan this out and puts a tremendous amount of work into these potential unicorns. These trades don't come along that often — there aren't a ton of them in a year. So every time there is one, he does extraordinary preparation, and knows exactly what he's going to do and has built up tremendous expertise in trading these events,” Schwager said.

“These trades don't come along that often — there aren't a ton of them in a year. So every time there is one, he does extraordinary preparation, and knows exactly what he's going to do and has built up tremendous expertise in trading these events”

 

But, there is more to the story that that, Schwager revealed. After all, Sall’s mental state when making these trades is just as important as the preparation.

 

To find out more about Sall’s strategy, and those of other fascinating characters Schwager has spoken to, listen to the full episode below.

 

Or for more ways to listen:

Apple Podcasts
Spotify
iHeart Radio
Stitcher
CastBox

 

Listen to the full interview and explore our past episodes on Opto Sessions.

Disclaimer Past performance is not a reliable indicator of future results.

CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.

The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.

CMC Markets does not endorse or offer opinion on the trading strategies used by the author. Their trading strategies do not guarantee any return and CMC Markets shall not be held responsible for any loss that you may incur, either directly or indirectly, arising from any investment based on any information contained herein.

*Tax treatment depends on individual circumstances and can change or may differ in a jurisdiction other than the UK.

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