Bernstein, author of The Investor's Quotient , is the president of a Chicago commodity advisory firm specializing in cyclic analysis, forecasting and personal psychology for traders in a notoriously precarious market--the buying and selling of contracts for future delivery of crude oil, pork bellies, eggs, grain, Treasury bonds and foreign currencies. He does not deal here with actual Board of Trade operations or even with the many trading systems because, he notes, the trading system is no better than the trader who uses it. Instead, through eight interviews with successful participants in a business that can generate millions in gain or loss overnight, Bernstein emphasizes the importance of such essential trader characteristics as studiousness, persistence, courage and decisiveness. Clearly the guide is not designed as a vade mecum for beginners, but it is a useful commentary for those already engaged in sophisticated investment activity.
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