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Marty "Pit Bull" Schwartz — from failed analyst to U.S. Investing Champion
The arc of Marty Schwartz's trading career is not the usual prodigy story. He spent close to a decade as a securities analyst at major Wall Street firms, losing money throughout, before quitting his salaried career, taking the savings he had managed to keep, and buying a seat on the American Stock Exchange to trade fo…
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Martin S. Schwartz, known as "Buzzy," won the U.S. Investing Championship in 1984 with a result that, according to several public accounts, exceeded the combined gains of every other contestant in his division. A former Amex options floor trader who switched to a personal account after the 1979 oil crash, Schwartz became one of the most-quoted figures in Jack Schwager's "Market Wizards" (1989).
He is the author of "Pit Bull: Lessons from Wall Street's Champion Day Trader" (1998), the autobiographical account of his career as a discretionary day trader of S&P futures and equities. His core trading rule — "I don't want to be a hero. I want to be the unsung guy who's home counting his money" — is one of the most-cited pieces of trading psychology advice in the post-1990s retail era.
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