---
product_id: 4025890
title: "Pit Bull: Lessons from Wall Street's Champion Day Trader"
price: "NT$1225"
currency: TWD
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reviews_count: 10
url: https://www.desertcart.tw/products/4025890-pit-bull-lessons-from-wall-streets-champion-day-trader
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---

# Pit Bull: Lessons from Wall Street's Champion Day Trader

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- **What is this?** Pit Bull: Lessons from Wall Street's Champion Day Trader
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Pit Bull: Lessons from Wall Street's Champion Day Trader [Schwartz, Martin] on desertcart.com. *FREE* shipping on qualifying offers. Pit Bull: Lessons from Wall Street's Champion Day Trader

Review: Entertaining and educational - Pit Bull is a very entertaining book about a real trader. So far I have never read a book I didn't like that was actually written by a real trader. As opposed to someone who does "research" or just writes a market letter or better yet a trading coach. If you can get past his massive ego you can really learn tons and be entertained all at the same time. He says many times in the book that he liked selling his favorite commodity: which was Martin Schwartz. It wasn't surprising to me that he never made money trading until Audrey (his wife) told him to make a plan. He never had a plan to make money and he never did until his wife told him to. The second thing I learned from this book is how he has a lot of self-confidence in himself which is a nice way to say that he has a big ego. But the bottom line was that he knew that he could make money because he had a plan and worked hard to achieve it. Another tidbit learned was that he was always prepared for the market and on days in which he wasn't he didn't trade well. The bottom line is if you are looking for the same indicators, ratios, or methods that he uses this book won't teach you that. We probably wouldn't even make money off them even if he spelled them out for us. The real secret is the attitude and the other stuff that so many traders don't do or take for granted. He took notes on the market and recorded them so he could refer back to his feelings and learn from his mistakes to be a better trader. These types of things are the real secret but most people want to look for the magic indicator that will take them to the promised land. If you want to look inside the mind of a real trader and want to be entertained at the same time you should buy this book.
Review: If there are is a better trader let her or him come forward. - What experience is shared by the former Shah of Iran, Andy Warhol, Jackie O., and Martin Schwartz? Ans: they all died, or in Martin's case nearly died, at NY Hospital. Count your self lucky Martin. I used to be there when you were a patient. Just ask any Cornell Medical student about NY Hospital for more cocktail conversation. This book is engaging, although some of his old strategies like linking after hours trading in T-bonds to S&P futures the next morning no longer hold in 24-hr markets. But of course he had numerous other fast turn around strategies that worked for him. So why did Mr. Schwartz decide to become a hedge fund manager? As clever as he was, Mr. Schwartz should have known better. As far as I know hedge fund managers do not generally outperform the S&P 500. Hedge fund performance only averaged about 16 or 17% in 1995 & 96 (WJS, 16 Nov. 98). In fact nearly all fund managers under perform the S&P for almost any extended period of time. Remember what Gordon Gekko said to Bud Fox in 1987: "Sport why is it that most fund managers cannot even get the total return of the S&P 500"? Probably more true today than it was in 1987---There are only about 40 equity funds that have exceeded the S&P during the past 15 years or so (the S&P has averaged about 17.5 % per yr. since 1980). The story for hedge funds is pretty much like the LTCM story but without quite so much damage. The Greenwich-based fund had done really well for a year or so, but then there was bit of bad timing and some missing leverage on interest rate differences and various derivatives and poof, LTCM exploded like a supernova locking the Danish mortgages and tequila floaters in the risk-assessment PCs and setting off a world-wide financial catastrophe. Everyone lost 90%. Scandal-prone Johnnie Meriwether, who was "trained" at Salomon, was "managing" this hyperbolic casino-floater fund, and Johnnie was paid quite well for loosing everyone's money. In fact he is still being paid huge sums, and my guess is that wealth people are standing in line in Greenwich to invest more when Johnnie is free again. You would think Frank Partnoy of FIASCO would be bristling, esp. since the LTCM scandle involved Nobel laureates and their risk-free Option Pricing Model (derivatives again Frank). Apparently some of those derivatives weren't risk-free after all, and remember OPM also stands for Other People's Money! Not exactly like the Mexican peso being devalued, except no investment bank caused that Frank, but Johnnie is responsible for LTCM. Mr. Schwartz's personal return was evidently way ahead of any of the known hedge fund managers, and he had done that for years, so what was he trying to prove as a Hedge fund manager? As a manager, it necessarily means its no longer your money, and there will be lots of inquiries from shareholders. Goldman Sachs is in the process of making this discovery now.

## Technical Specifications

| Specification | Value |
|---------------|-------|
| Best Sellers Rank | #185,604 in Books ( See Top 100 in Books ) #310 in Stock Market Investing (Books) #318 in Investment Analysis & Strategy #509 in Introduction to Investing |
| Customer Reviews | 4.5 4.5 out of 5 stars (690) |
| Dimensions  | 5.31 x 0.72 x 8 inches |
| ISBN-10  | 0887309569 |
| ISBN-13  | 978-0887309564 |
| Item Weight  | 2.31 pounds |
| Language  | English |
| Print length  | 320 pages |
| Publication date  | March 24, 1999 |
| Publisher  | Harper Business |

## Images

![Pit Bull: Lessons from Wall Street's Champion Day Trader - Image 1](https://m.media-amazon.com/images/I/61EberhFQlL.jpg)

## Customer Reviews

### ⭐⭐⭐⭐⭐ Entertaining and educational
*by E***R on September 21, 2001*

Pit Bull is a very entertaining book about a real trader. So far I have never read a book I didn't like that was actually written by a real trader. As opposed to someone who does "research" or just writes a market letter or better yet a trading coach. If you can get past his massive ego you can really learn tons and be entertained all at the same time. He says many times in the book that he liked selling his favorite commodity: which was Martin Schwartz. It wasn't surprising to me that he never made money trading until Audrey (his wife) told him to make a plan. He never had a plan to make money and he never did until his wife told him to. The second thing I learned from this book is how he has a lot of self-confidence in himself which is a nice way to say that he has a big ego. But the bottom line was that he knew that he could make money because he had a plan and worked hard to achieve it. Another tidbit learned was that he was always prepared for the market and on days in which he wasn't he didn't trade well. The bottom line is if you are looking for the same indicators, ratios, or methods that he uses this book won't teach you that. We probably wouldn't even make money off them even if he spelled them out for us. The real secret is the attitude and the other stuff that so many traders don't do or take for granted. He took notes on the market and recorded them so he could refer back to his feelings and learn from his mistakes to be a better trader. These types of things are the real secret but most people want to look for the magic indicator that will take them to the promised land. If you want to look inside the mind of a real trader and want to be entertained at the same time you should buy this book.

### ⭐⭐⭐⭐ If there are is a better trader let her or him come forward.
*by L***A on September 10, 1999*

What experience is shared by the former Shah of Iran, Andy Warhol, Jackie O., and Martin Schwartz? Ans: they all died, or in Martin's case nearly died, at NY Hospital. Count your self lucky Martin. I used to be there when you were a patient. Just ask any Cornell Medical student about NY Hospital for more cocktail conversation. This book is engaging, although some of his old strategies like linking after hours trading in T-bonds to S&P futures the next morning no longer hold in 24-hr markets. But of course he had numerous other fast turn around strategies that worked for him. So why did Mr. Schwartz decide to become a hedge fund manager? As clever as he was, Mr. Schwartz should have known better. As far as I know hedge fund managers do not generally outperform the S&P 500. Hedge fund performance only averaged about 16 or 17% in 1995 & 96 (WJS, 16 Nov. 98). In fact nearly all fund managers under perform the S&P for almost any extended period of time. Remember what Gordon Gekko said to Bud Fox in 1987: "Sport why is it that most fund managers cannot even get the total return of the S&P 500"? Probably more true today than it was in 1987---There are only about 40 equity funds that have exceeded the S&P during the past 15 years or so (the S&P has averaged about 17.5 % per yr. since 1980). The story for hedge funds is pretty much like the LTCM story but without quite so much damage. The Greenwich-based fund had done really well for a year or so, but then there was bit of bad timing and some missing leverage on interest rate differences and various derivatives and poof, LTCM exploded like a supernova locking the Danish mortgages and tequila floaters in the risk-assessment PCs and setting off a world-wide financial catastrophe. Everyone lost 90%. Scandal-prone Johnnie Meriwether, who was "trained" at Salomon, was "managing" this hyperbolic casino-floater fund, and Johnnie was paid quite well for loosing everyone's money. In fact he is still being paid huge sums, and my guess is that wealth people are standing in line in Greenwich to invest more when Johnnie is free again. You would think Frank Partnoy of FIASCO would be bristling, esp. since the LTCM scandle involved Nobel laureates and their risk-free Option Pricing Model (derivatives again Frank). Apparently some of those derivatives weren't risk-free after all, and remember OPM also stands for Other People's Money! Not exactly like the Mexican peso being devalued, except no investment bank caused that Frank, but Johnnie is responsible for LTCM. Mr. Schwartz's personal return was evidently way ahead of any of the known hedge fund managers, and he had done that for years, so what was he trying to prove as a Hedge fund manager? As a manager, it necessarily means its no longer your money, and there will be lots of inquiries from shareholders. Goldman Sachs is in the process of making this discovery now.

### ⭐⭐⭐⭐⭐ Both inspiring and funny story on the life of a legendary trader
*by Z***D on June 12, 2023*

Like the majority of readers, I first read his story from the first Market Wizards book. But it wasn't until 20 years later when I read Pitbull (there was a Kindle discount 2.99 or so). His story is engaging and tells the readers how he got started. More importantly it showcase his frame of mind when trading. Which to me can be a little manic and exhaustive. Yet that is a style which worked for him. Though he makes $60,000 in 5 minutes sound as routine as putting on a shirt, he does in fact explain in detail the great amount of work and preparation that goes into his trading. Its just something that a lot of people overlook or they know about it but are just not willing to put in the time and effort. I loved the book so much that I bought a hardcopy and will soon be reading it again. Thanks Marty for writing the book.

## Frequently Bought Together

- Pit Bull: Lessons from Wall Street's Champion Day Trader
- Market Wizards, Updated: Interviews with Top Traders
- The New Market Wizards: Conversations with America's Top Traders

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*Last updated: 2026-03-13*