Reminiscences of a stock operator
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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....
- Jesse Livermore
A timeless classic on the stockmarket, first printed in 1923.
These are the reminiscences of Jesse Livermore - written when he was at the height of his game. There is nothing else on trading quite like this in print.
Livermore started off with a job in his teens chalking up the changing stock prices on the board. (You have to remember there were no computers etc back then). He had an intuitive sense for the patterns and behaviours of the numbers he encountered daily. Eventually, he developed a kind of sixth sense on these numbers which allowed him to anticipate their next move. Naturally he put his new found skill to work by speculating in the bucket shops of the day.
Bucket shops then were like venues for spread betting nowadays. Before long, he had $1000 in his back pocket (equivalent to more than $20,000 in today's money). And this when he was still only a mere 15 years old.
The book ends at the height of his fame. It does not cover the later sad period where he was to end his life by committing suicide in a hotel. And that after another period when he had won and lost a fortune.
The strange thing about Livermore is that he was a guy who played by the odds. When the odds were in his favour he would bet big. As a young man betting in the bucket shops he was known as the "boy plunger". Yet he chose to marry somebody, Harriet Noble, whose previous FOUR husbands had committed suicide. FOUR! That doesn't sound like respecting the odds to me. What gives?Read more ›
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 months ago by Rik Muschamp
Absolutely classic piece of literature on investment/trading. My favorite book ever on the subject of the markets.Published 7 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 9 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 9 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 10 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 11 months ago by Ron W.