The Zurich Axioms (Harriman Classics): The Rules of Risk and Reward Used by Generations of Swiss Bankers

By Max Gunther

Book Overview

If you want to get rich, no matter how inexperienced you are in investment, this book can help you. Its message is that you must not avoid risk, nor court it foolhardily, but learn how to manage it - and enjoy it too.

The 12 major and 16 minor Zurich Axioms contained in this book are a set of principles providing a practical philosophy for the realistic management of risk, which can be followed successfully by anyone, not merely the 'experts'. Several of the Axioms fly right in the face of the traditional wisdom of the investment advice business - yet the enterprising Swiss speculators who devised them became rich, while many investors who follow the conventional path do not.

• Format: Paperback
• Language: English
• ISBN: 0857198637
• ISBN13: 9780857198631
• Release Date: October 2020
• Publisher: Harriman House
• Length: 192 Pages
• Weight: 0.67 lbs.
• Dimensions: 0.6" x 5.0" x 7.9"

Customer Reviews

More Wisdom than most trading Libraries

Each principle deals with an emotion, and a possible error. Some of his language you may quibble with. Investments involve chance and probability, like gambling, but the expectations are on your side and you might be doing collective economic good, rather than just your entertainment. I am a managed futures investor, and find this a useful book to read every few years to reground my perspective on risk management. You can do all the calculations and due diligence you like, but in the end it is your judgment, instinct and probabilities. The book has become rare a few times and quite expensive at the rare book shops.

A great book to learn about the importance of risk taking

This book really opened my eyes to the importance of taking risks and taking one's losses gracefully and quickly. The book also speaks about the risks of so-called low risk approaches. If one doesn't have much calculated risks are the way to go. The book is positive and upbeat. I read it more than 10 years ago and it is a book I turn to again and again.

A great book on investment strategy.

No nonsense clearly articulated principles of investing, devoid of technical jargon, unsupported theories and self-congratulatory braggadocio. The book is written in an engaging, mildly cynical way that resembles a father teaching his son the main principles of the investing process - as the author apparently learned them from his Swiss banker father. The main topic is the mindset and philosophy of successful speculators and investors and the major traps to watch out for when engaged in this activity. Very general advice - there are no spesific recommendations for any stocks, etc. This is an outstanding book for individuals who want to develop a rational basis for their investment activities.