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Reminiscences of a Stock Operator (A Marketplace Book) Hardcover – 11 May 1994
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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.
"..this book has stood the test of time..." -- Financial Mail on SundaySee 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....
Livermoore (Livingston) was ahead of his time, an elite among the elites. I have no doubt that if alive today, he would be the richest man alive.
Most Recent Customer Reviews
I know a lot of people believe this book to be like the bible for finance but I personally disagree. Read morePublished 2 months ago by Dorson
Whilst the content of the book is exemplary and of great benefit to anyone interested in trading today's markets, it is full of grammatical and syntax errors, missing paragraphs... Read morePublished 10 months ago by Confuserated
Good story, not much in the way of advice but an interesting insight into the world of stock trading - especially 100 years ago.Published 11 months ago by Rik Muschamp
Absolutely classic piece of literature on investment/trading. My favorite book ever on the subject of the markets.Published 12 months 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 15 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 15 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 16 months ago by qbit
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