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4.7 out of 5 stars
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4.7 out of 5 stars
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on 24 February 2004
This book saved me from the drudgery of a 12 hour train journey one day. I was absolutely enthused by its storyline and the advice given on financial speculation.
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.
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on 16 March 2001
This book is, if understood and followed correctly, ALL one needs to be a successful trader.
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....
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on 16 February 2006
Edwin Lefèvre published this classic in 1923. His subject is Jesse Livermore, an infamous speculator and the world’s first documented successful day trader. Lefèvre thinly disguises Livermore, assigning him the fictional name Larry Livingston. First published as a series of Saturday Evening Post articles, this book explores greed, fear, envy and the relentless pursuit of fame and fortune, all as relevant today as in 1923 – one reason that this remains required reading for investors. The writing style is quaintly dated and Runyon-esque. Lefèvre’s use of old market jargon ("plungers," "bucket shops," "bear raids" and stock "operators" instead of brokers) reminds readers that this is a journalistic, a novelistic and a fiscal period piece. The illustrations by M.L. Blumenthal evoke its original publication date. Interestingly, market bubbles, whether in high-tech, railroads or real estate, remain basically as emotional and nonrational as they were in the early 1920s, so the lessons here remain meaningful. Speaking from that more innocent time, Lefèvre provides lasting market insights, including Livermore’s investing secrets. He distills the eternal truth that markets only go up or down, and that investors run on fear and greed. We strongly suggest this classic to serious investors and financial reporters. As you read it, you will hear the voice of its time and its lessons for today.
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on 5 March 2016
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 and is generally of a lower standard than I would expect.
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on 9 June 2002
Superb tale that's relevant and informative to anyone trying to extract money from the markets. An excellent insight into the traps and pitfalls we all make whilst developing our own style or system.
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on 24 November 2000
I'm on my second read through this book and think it's absolutely great. Easily the best book on investing advice I have read. And it was written by a guy who was trading 100 years ago - A MUST READ for any serious investor
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TOP 1000 REVIEWERon 14 January 2015
"I learned early that there is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again. I've never forgotten that."
- 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?

Yet another thing that stands out about the life of Jesse Livermore - at the time of his greatest coup and consequent great wealth it does not seem to have led to any great happiness. For him or his family.
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on 24 November 2011
this is a genuine classic of the trading world and should be on all investors/traders bookshelf. it tell's a an autobiographical account of jess livermoores career as a trader. it tells the highs and lows and his approach to earning fortunes by riding the waves of the market.

i am unsure if his approach would work today - against the algorythms and black boxes, but it is a great historical account. the main points he makes about being a successful trader are all internal - be in control of yourself, leave emotion at the door, if you have a strategy stick to it, don't take advice from anyone - as their advice willsuit their personality and most important of all cut your losses...
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on 14 April 1998
Reminiscences was a very interesting book and a nice change from more technical or even psychologically oriented ones. I would never recommend it as the first book on trading you should grab, however. Much of the insight would be lost on you unless you had at least given some blood to the markets. One thing that makes the book so great is that the reader gets to see examples of why the old trading maxims are what they are by the way they in which they are used.
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on 17 March 1999
and I still belive I haven't gleaned everything from the book. I first bought the book before I started investing and thought it very intriguing as a story. After starting to invest as a professional I have since then gone back and re-read it many times over. For like those hidden 3-D pictures, you never see the hidden picture(s) unless you have the experience of market involvement on your side. Its that simple.
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