A Sucker's Diary

by Matthew Katzman


Formats

Softcover
£11.58
Softcover
£11.58

Book Details

Language : English
Publication Date : 01/05/2001

Format : Softcover
Dimensions : 5x8
Page Count : 212
ISBN : 9781585004669

About the Book

A Sucker's Diary chronicles the author's disastrous personal experience with stock market gambling addiction. It contains very accurate and thorough recollections of his involvement in the stock and option markets on money borrowed from credit cards at teaser rates; his insidiously slow transformation from a cautious investor to a reckless compulsive gambler; the eventual wipeout; and the hangover, during which he has had to repay an amount greater than his gross annual salary at regular credit card interest rates.

Readers of this shockingly revealing account have the chance to learn from the mistakes of their next-door neighbor, since the author preceded the majority of today's day traders in sentiment and experience by at least three years. Embarrassed to reveal anything about the biggest financial blunder of his life, he had to overcome a lot before writing about it.

Day trading catapults to emotional extremes. A Sucker's Diary exposes the emotional roller coaster of a compulsive day trader and the possible social implications of the explosion in online day trading. The book delivers a rare bold message about the enormous risks and poor rewards of day trading, opening peoples' eyes to the perils of the online world.


About the Author

Matthew Katzman is signing this book with a pseudonym because he is too embarrassed to come out in the open as a gambler whose addiction to day trading caused him to lose an amount almost twice his gross annual salary borrowed from credit cards in 1996.

One of the first stock market investors to experience electronic day trading at the advent of the web, Matthew Katzman traded borrowed funds mostly during his hours at work as a transportation and logistics analyst. He published articles in The Petroleum Economist and other trade journals and holds an MA and a Ph.D. from a Top 5 US Business School.