David Ryan is an extremely successful investor profiled in Market Wizards. He worked closely with famed investor William O’Neil, and eventually became a professional money manager. In addition, Ryan won the stock division of the U.S. Investment Championships in 1995 and 1995, posting 161% and 160% returns respectively. Ryan has a detailed stock selection process that he outlines in Market Wizards.
Stock Selection Process
1. Ryan only buys stocks within a few percent of their base to control downside risk.
2. Another early step Ryan initially takes is to \examine charts and identify stocks of interest …

William O’Neil is another star investor profiled in the book Market Wizards. Mixing a unique quantitative and qualitative growth investment strategy, O’Neil achieved dramatic investing success. In 1963 at age 30, he capitalized on this success by launching the brokerage firm William O’Neil & Co, and became the youngest member of the New York Stock Exchange at the time.

In 1983, O’Neil launched Investor’s Business Daily, a popular investment publication that incorporates his investment philosophy. In Market Wizards, O’Neil shares some of the keys to his investing success.

Michael Steinhardt is a legendary investor. In 1967, Steinhardt founded the hedge fund Steinhardt, Fine, Berkowitz & Co. From 1967 to 1995, the hedge fund returned 24.5% annually after fees. After retirement in 1995, Steinhardt became chairman of Wisdom Tree investments, a company providing a variety of exchange traded funds. Steinhardt is profiled in Market Wizards, where he shares keys to his investing success that are summarized and analyzed below.

Marty Schwartz is another rock star trader profiled in Market Wizards. After completing his service in the Marine Corps, Schwartz earned a MBA at Columbia Business School. After graduation, Schwartz became a securities analyst. Following eight frustrating years as a securities analyst, Schwartz became a full time independent trader in 1979. The star trader achieved trading fame during the U.S Trading Championships, run by Norm Zadeh, a professor at Princeton University.

This is part of a series of future posts summarizing and analyzing key points made by traders interviewed in Market Wizards by Jack D. Schwager. Market Wizards is a collection of interviews with some of the world’s most successful traders and investors including Paul Tudor Jones, Michael Steinhardt, and Bruce Kovner. The book is widely recommended by traders and investment professionals and is included on the Sharpe Investing Recommended Reading List.
This first post focuses on a section about Larry Hite titled Respecting Risk. Managing risk is the key focus of Hite’s investment strategy. …