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Trader Vic II: Principles of Professional Speculation
Victor Sperandeo
A sequel to Victor Sperandeo's well-regarded *Trader Vic — Methods of a Wall Street Master*, this book lays out his broader philosophy of professional speculation. Rather than chasing tips or systems, Sperandeo builds a framework from the ground up: a sound investment philosophy, the economics behind market forecasting, the interplay of money, credit, and the business cycle, and the political forces that shape it, before turning to technical risk-reward analysis, options strategy, day-trading method, and — tellingly — the character and psychology a trader needs to survive. Written for the serious student rather than the casual investor, it treats speculation as a discipline demanding both macroeconomic literacy and rigorous self-management. Dated in its market specifics but durable in its emphasis on risk control and temperament, it remains a respected entry in the trading-book canon.
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The author
Victor Sperandeo (b. 1945) is an American trader, money manager, and author who built a long Wall Street career, founding options and trading firms and managing institutional portfolios. His first book, Trader Vic — Methods of a Wall Street Master, was widely praised, establishing him as a thoughtful voice on speculation as a craft.
The book
Trader Vic II: Principles of Professional Speculation (Wiley, 1994) is the more philosophical follow-up, ranging across investment philosophy, business-cycle economics, technical analysis, options, day-trading, and trader psychology.
How it has aged
The specific market examples, instruments, and data are firmly of the early 1990s, and nothing here should be read as current or personalized financial advice. What endures is the emphasis on risk management, macroeconomic context, and psychological discipline — themes later trading literature has only reinforced. As with any market book, readers should treat its methods as one perspective and make their own informed decisions.
For more context
Sperandeo's first volume and the broader literature on trading psychology and risk complement it.
Sources - Trader Vic II — Wiley - Trader Vic II — Internet Archive
- Type
- Book
- Author / Maker
- Victor Sperandeo
- Publisher
- John Wiley & Sons
- Year
- 1994
- ISBN
- None
- Shelf
- Reference
- Location
- Colorado