Please don't buy this book. It's better called the drama queens of wall street (or connecticut). Better investment is the laws of trading by Lebron. I will summarize the book for you: - Lots of time going nowhere - Got lucky, doubled down on successful approaches - Survived bad times - Kept doubling down - Drama queens galore
Do not envy success, if you work hard and with some luck, it will come. One of the best books I read on the subject.
Bought and read it two weeks ago when it came out, and disagree with your opinion. Leave it at that. As for Laws of trading. Yet another list book. No thanks.
Even the king of quants is clearly not winning the game from entry signals, otherwise they would have a high win rate. Renaissance searched for “overlooked” edges and joked about a 50.75% win rate while utilizing the law of large numbers to win in the long-run. Often times we get caught up searching for the holy grail or the perfect entry/exit for our trading or strategy development. But even with all these PhDs, RenTech was excelling trading a nearly 50% winning system to generate such astronomical returns. Much more can be gained by combining and adding unique smaller edges together than wasting time hunting for the perfect holy grail strategy! “We’re right 50.75 percent of the time… but we’re 100 percent right 50.75 percent of the time. You can make billions that way” (pg 272)
Interesting story - worth my time and money spent (not much of either). In no way was I expecting to find some great nuggets of trading knowledge to help me. But I was glad to see that what I am doing, cobbling together ideas from many areas, is what Simons did. Mostly math, as well, which I was never good at when I was back in school.