I started reading Market Wizards by Jack D. Schwager a few days ago and, to some extent, the book is interesting and quite handy for someone willing to do good as an investor, but on the other hand, it's not anything mind-blowing... Or maybe I had too high expectations from it.
The book was written in the late '90s, I guess, but the stories of the ones being interviewed in the book and lots of the things, trading techniques, and procedures that are tackled there are outdated. We literally have bots trading 24/7 nowadays, and you can even buy fractions of a stock if you want to.
Back in the day, trading was way more demanding than it is right now. You kind of had to be involved 24/7 in order to make it. Now it is way easier to become a trader; it's not that easy to be a good one, though...
While eating through it, somehow the image of my long-time deceased uncle got to my mind. He lived a simple life in the countryside, left this world probably twenty years ago, but was such a curious mind...
I remember that at some point when I was still a teenager and visiting him once in a while during my vacations at my grandma's, he asked me to explain to him what a computer was...
All he used his entire life in terms of technology was a damn radio and a black-and-white old TV. He never had a phone, he never talked on a mobile phone, but somehow he was born ahead of his time. I did my best explaining to him what a computer was, and then he asked me...
"What is the internet?" This one put me a bit in difficulty because I had to serve him an explanation of a thing that was connected to another thing I just finished explaining, and he got in touch with neither of them until he passed away. He left the world passing us a quite accurate prediction: Saddam Hussein will be killed by the Americans.
So it happened... But let's get back to Market Wizards, shall we? On the one hand, it does not make much sense to continue reading the book, but on the other, it's like getting back in time. Like learning how an engine works before actually driving a car.
We've come so far in terms of technological advancements, and we are at the same time so early in time. AI hasn't yet exploded, so to speak, and while some of us are fearful about AI stealing our jobs, others are thrilled about AI being able to create even the stuff they don't know yet they will wish to have in the not-so-distant future.
You know...
"Nothing that I have ever imagined came true"... It's probably time I should embrace the moment fully and just ride the waves of change... Have a great day, people, and see you all next time.
Thanks for your attention,
Adrian