Trader Vic II: Principles of Professional Speculation

Mr. Sperandeo's books belong to the classics of trading literature, and yet or perhaps of this, they are not as widely known as they deserve to. They combine a superb research, common sense, and straightforward approach to trading that are far from ubiquitous in the literature that more and more frequently revolves about esoteric nonsense, hype, and self-promotion. Not so in these books, written by a master trader and fund manager with outstanding credentials. Anyone aspiring to successful trading should give these books more than a cursory consideration. There is something for everyone in his books, from beginners to advanced aficionados of trading, so nobody will feel disappointed. Their scope is broader than in many other books on trading, which certainly reflects author's great erudition. His gentle style and numerous personal stories from his trading career guarantee that the books are a pleasure to read. These are books that you may want to revisit time and again to learn more or to get a new perspective on things. There is some overlap between Vic I and Vic II, but definitely not great enough to dismiss Vic II as a rehash of Vic I. I recommend both of them highly to all of my clients and to everyone interested in intelligent, particularly long-term, speculation in the financial markets.

I'd like to comment on 2 things. First of all, Mr. Sperandeo is no joke and he has done all the things he says - He's not just some guy who writes books like a lot of so called "traders" out there. (there are WAY too many to name...!) Secondly, the 'reader' who commented on Mr. Sperandeos lack of formal/university education really has no clue as to what trading is or how it works. Plenty of traders "on the floor" have no extensive schooling. I don't & I traded options on the floor of the Amex (MY $$ - Not a firms) along with many other men who made high 6 figure incomes. Don't be so quick to criticize.

I was looking over the past reviews for this book, and noticed the one about Sperandeo's need for a formal education. I disagree completely. I have an MBA from Wharton in Finance. Mr. Sperandeo's command of economics seems rather sound. More importantly, Mr. Sperandeo delves into areas that academics won't delve into and give crucial information on developing a winning trading strategy. Take time to read this book if you are serious about the market.

This is a book you want to keep and never loan out. It can be read over and over. I liked the section regarding "time of day" which is crucial for short term and day traders.

The praise for this book by many professionals( e.g. Tudor Jones) is well understandable. Victor adds material to the one he has presented in his first book, and thus makes this one an even better read. His often cited calmness can be witnessed in his hardly matchable humour- and the excitement he has for superior returns on investment captures the reader, experienced or not , fast.