- Audio CD
- Publisher: John Wiley & Sons; Abridged edition (15 Oct. 2004)
- Language: English
- ISBN-10: 1592801943
- ISBN-13: 978-1592801947
- Product Dimensions: 13.7 x 1.7 x 19 cm
- Average Customer Review: 4.7 out of 5 stars See all reviews (54 customer reviews)
- Amazon Bestsellers Rank: 514,528 in Books (See Top 100 in Books)
Reminiscences of a Stock Operator (Wiley Trading Audio) Audio CD – Abridged, Audiobook
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More About the Author
Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. For example:
It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon.
If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. --Harry C Edwards --This text refers to an out of print or unavailable edition of this title.
"...certainly one of the most entertaining books ever written about stock trading..." ( Money magazine, November 2007) "...is a classic that gives readers a sense of a trader′s mind..." ( Wall Street Journal , August 7, 2006) " an engaging read, chock–full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." ( Money Week , October 2006) contains timeless advice on the markets. ( The Independent, Extra , Thu 13th March)
"...is a classic that gives readers a sense of a trader′s mind..." ( Wall Street Journal, August 7, 2006)
" an engaging read, chock–full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." (Money Week, October 2006)
contains timeless advice on the markets. (The Independent, Extra, Thu 13th March)--This text refers to an out of print or unavailable edition of this title. See all Product Description
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Top Customer Reviews
This book teaches you that the way traders think, the way they behave and the reasons for their behaviour are the same now as they were back at the turn of the 20th century. It is not an easy read for those not keen on investment speculation. But if you intend to speculate with your own money, you should allow Jesse Livermore's lessons to sink into your subconcious. It is a book you need to read more than once to gain the most from it.
I am surprised nobody has made a film based upon this book.
It is the best observation of human nature displayed as a mass that has ever been written, and, as such, should be read by anyone interested in markets or psychology.
One of the most striking impressions it gives you is the realisation that NOTHING changes. The markets may be 24 hour, global and electronic now, but they will always move in the same fashion because they will always be driven by the two human emotions of fear and greed.
Run your winners, cut the losers....
Trading will never be the same without this book. The way the author describes every individual trades, it just bring you back into the 1920s. Be it how Livermore decide on a long or short position or how he managed to corner the July Cotton.
Below is two of my favorite quote, among many other interesting one you find in the book.
"Fundamental conditions were fighting for me. It was not difficult to be both fearless and patient. A speculator must have faith in himself and in his judgment. With me, I cannot fear to be wrong because I never think I am wrong until I am proven wrong." (paperback p228)
"I have to do my own seeing and my own thinking. But I can tell you after the market began to go my way I felt for the first time in my life that I had allies-the strongest and truest in the world: underlying conditions. They were helping me with all their might. Perhaps they were a trifle slow at times in bringing up the reserves, but they were dependable, provided I did not get too impatient." (p101)
If you will to read between the lines and it sounds familiar with what you had just done not long ago, then it pays to check out this book.
Most Recent Customer Reviews
Good story, not much in the way of advice but an interesting insight into the world of stock trading - especially 100 years ago.Published 5 days ago by Rik Muschamp
Absolutely classic piece of literature on investment/trading. My favorite book ever on the subject of the markets.Published 1 month ago by Richs
This book is very old and based on a hugely successful stock investor. This is recommended reading for anyone who is interested in trading or investing. Read morePublished 3 months ago by Tom
The best book ever,even now in 2015. Tricks, techniques,philosophy, and most importantly,you can come back from anything. A fascinating exploration of a great trader's mind.Published 3 months ago by Thierry Vidal
This is simply a fantastic book. It may take a while to get into it and to get your head around some of the terminology and references, but the nuggets of wisdom simply fall out of... Read morePublished 4 months ago by qbit
Very interesting and a very good read. I would have given it four stars, but sadly the kindle version has just too many errors. Read morePublished 5 months ago by Ron W.