Trading Sardines

Hey everyone. Remember me? It’s been a while. I’m glad to see that you’re still around.

I’m sorry for the radio silence in the past year. It was for many reasons, a strange year. At first, I had a bit of a health scare in the first part of the year. I won’t scare you with the details, but while the recovery process took quite a few months, I’m back in better shape than ever. Since I was allowed to start exercising again, I’ve been averaging 5-6 days a week in the gym, trying to prove that the old man still got it.

Interestingly, my worst health year turned out to be my best business year. The hard work we had put in the previous years really paid off, and we have been expanding rapidly. Our newest product went nine figures and performance has never been better. Who would have known that long term planning and hard work would actually pay off.

I also spent considerable time last year writing on a new book manuscript. I had some ideas floating around for years, but I lacked a clear focus point of the book. Last summer, I finally found that focus point and started hammering out words. At this point, I’ve got some 100k+ words knocked out, and I hope to get it out the door before summer.

It is actually the topic of books that lead me to start writing another post, after so long time. But not my book. Linda’s book.

One of the best things about being an author is that you get to know a lot of interesting people out there. Simply being in the financial industry is not enough. It’s not even enough to be on a reasonably high level or fairly successful. After all, we in the financial markets are naturally territorial, sectarian and downright malevolent towards each other. Welcome to finance.

But between authors, there is some unspoken camaraderie. Even towards authors, from other market participants. My books have opened so many interesting doors for me. I became personal friends with trading legends, market wizards, billionaires and famous authors. Some I meet from time to time and have gotten to know well, while others I know only from bouncing emails between us.

Linda is one of those that I have not yet met, but hope to meet soon at one of those conferences where most of us tend to gather. She contacted me recently and asked me to give a comment on her new book. And that’s why I’m writing this post.

Linda Bradford Raschke is a name that many of you recognize. Among other things, she published a great book back in 1996, and since she was featured in Jack’s 1994 book, she’s a bona fide Market Wizard.

Her new book, Trading Sardines, is light and funny. I don’t mean light in terms of content, but rather in that it’s a personal story and one which is hard to put down. You can’t really say that about most finance books, can you. This book, is essentially the story of her professional life. Her career from the start. How she worked the open outcry pits and the utter chaos and madness of that part of the industry.

There are some chapters in there with detailed trading methodology as well, but speaking only for myself, I was far more interested in the story as such. But perhaps that’s because I’m already old in the business and set in my ways.

Her story is an inspirational one. It gives a unique insight into a life and a career with humble beginnings, lots of ups and downs, disasters and victories, and I don’t think I’m spoiling the ending by hinting that it is a story of success.

So yes, clearly I am endorsing this book. You may ask why, or rather what I’m getting out of it. Fair enough question. We are working in the financial industry after all. But sadly, I don’t get paid for it. And besides, there’s no money in books anyhow. Unless you write about wizards, vampires or BDSM of course.

No, I have more devious plans. After all, I have my own book coming out soon. And perhaps this article gets me a Market Wizard endorsement.

And besides, I actually like this book.

This is where you buy the book.