Quotes About Jack D. Schwager

Kovner lists risk management as the key to successful trading; he always decides on an exit point before he puts on a trade. He also stresses the need for evaluating risk on a portfolio basis rather than viewing the risk of each trade independently. This is absolutely critical when one holds positions that are highly correlated, since the overall portfolio risk is likely to be much greater than the trader realizes.

Debussy's quote that "Music is the space between the notes," because an analogous statement about trading—Trading is the space between trades—is so strikingly apropos.