- ISBN13: 9780061241710
- Condition: NEW
- Notes: Brand New from Publisher. No Remainder Mark.
Product Description
What happens when ordinary people are taught a system to make extraordinary money? Richard Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they inclu… More >>
The Complete TurtleTrader: How 23 Novice Investors Became Overnight Millionaires
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Covel’s book is an excellent, in depth look into the personalities of Dennis, Eckhardt and the “Turtles” they trained and mentored. We get a great view into the humanity of the organization that started large scale systematic trading in a time when most traders were addicted to fundamentals ( some things haven’t changed in that regard).
The emotional highs and lows, the risks, the luck, and the losses are methodically organized and documented. History was written as it happened on the trading floor. In short, its a clear, concise read and is a new addition to Covel’s first book, Trend following.
Rating: 5 / 5
Michael W. Covel has managed to master the art of writing about the stock market, namely the story of the infamous ‘Turtle Trader’ group, by including all the ‘in-house’ information and language and statistics while adjusting the significant bit of history into a narrative that reads like a novel. For the reader who knows little about the stock market and the means by which it trades and responds/creates the economic climate of this country, this book is a fascinating insight into an actual experiment where it was proven that financial wizards are not necessarily born (’nature’) to their wealthy destiny, but instead can be ordinary people (yes, like us) who can be ‘nurtured’ by wise teachers to learn the ropes of the sacrosanct.
Covel seduces us in his well-written Preface: ‘People do have a chance to win in the market game, but he or she needs the right rules and the attitude to play by. And those right rules and attitude collide head-on with basic human nature.’ And there he has us, as neophytes, well in hand into exploring his well documented, thorough, and (most important for neophytes) well written book THE COMPLETE TURTLE TRADER: THE LEGEND, THE LESSONS, THE RESULTS. What follows is a fine background of two big, philosophically disparate money men – Richard J. Dennis and William Eckhardt – who created the Turtle Traders in 1983, a group of men/women who responded to a newspaper ad, coming from widely different backgrounds, and learned the basic rules of trading and investing using the money of the mentors. How they did this and the success they achieved proved conclusively that learning to become wealthy in the money market CAN be learned.
To make this book interest sustaining in nature, Covel identifies the Turtle Traders and follows their group and individual histories in a manner that approaches a screenplay. We get to know them, feel their development, learn of their power plays that result in monumental gains and equally huge losses, and in doing so Covel personalizes his data, adding the follow-up history of this select group to bring a since of closure to his well researched book. And for a book about something as potentially obtuse and foreign to the market-challenged reader, Covel has succeeded in making a page-turner! This strongly written book should be in the library of every person who deals with the Wall Street life, but it is also a tantalizing insider’s look at how the mystique of the money baron bubble can be popped! Grady Harp, November 07
Rating: 5 / 5
I like the authors style in this book so much I read his other “Trend following” title. This is a fun story and seems to try to take an objective look at the events that transpired.
Rating: 5 / 5
I have spent decades investing/trading the markets, and along the way have read many books. I must say 99% of them I did not finish, because they were garbage, or did not provide any original thoughts with detail and explanation that kept you learning and wishing they did not end. This is the lone exception. The Turtle Trader opened my eyes to something I had never even heard of before. IT IS A MUST READ! I have bought at least 5-6 copies and handed them out to friends as gifts. If you are serious about learning instead of being told what to think (i.e. CNBC, and that gameshow host Jim Cramer), start here first!
Rating: 5 / 5
This book is unreal, never have I read a story that has open my eyes to different ways to create revenue for your self. This story is based on a true story in Chicago with one of the greatest money managers (trader) of all time. Richard Dennis put an ad in the Wall Street Journal, looking for people willing to learn how to trade money. There were no education requirements, so they were getting the average Joe blows off the streets and they were turning out over 100% return for this fund. This story shows that any man on this earth can learn any skill at any age and be profitable in the endeavor. Excellent read. At the age of 24 this story keeps my mind open to what I want to do in my life.
Rating: 5 / 5