Quote:
Originally Posted by Mark Laszczuk
Have seen the Jesse Livermore biography get a few mentions in the last little while online. Seems to have some good info in there. Have you read it? If so, is it any good? I was thinking about grabbing it, even though I'm not a trader.
Mark
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Mark,
Are you talking about ‘Reminiscences Of A Stock Operator’ - by Edwin Lefevre?
I do have it. It is kind of fictionalized biography of Jesse Livermore. Top book !!!!!
According to J. Schwager :
‘First published in 1923, it remains one of the most highly regarded financial books ever written and seems all but certain to enter the 21 century as a volume still in print.’
I would strongly suggest to read it!!!
Jesse Livermore - Famous stock market trader and investment author. Jesse Livermore Biography
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Jesse Livermore is a stock market legend, known as the “great bear of Wall Street”. In a life spent on Wall Street, he made and lost four fortunes.
A quick study of the Stock Market will often reveal stories of Jesse Livermore a renowned and legendary stock trader. He was a well known man in his time rubbing shoulders with the elite, including famous and powerful people and also to the average person through newspapers that covered stories on him.
Livermore left home in 1891 at the tender age of 14 with nothing more than 5 dollars in his pocket. Livermore soon started as a board boy in the offices of Paine Webber and was eventually banned from working in the ‘Bucket Shops’ of New York and Boston due to him making such a large amount of money on the stock market. In the Wall Street crash of 1907 Livermore was asked to stop pounding the market into oblivion. He made 3 million dollars in one day during the panic. He made a fortune in the crash only to lose it soon after.
Livermore later sold the market short before the crash in 1929, and entered the depression with $100 million in cash. Livermore’s timing techniques, money management systems, and high-momentum approach to trading was innovative and still remains well-founded today. Being a mysterious trader, he worked out of a secure office penthouse on Fifth Avenue where he traded in secrecy.
Livermore had a turbulent personal life, being a womanizer who could never remain faithful. A succession of failed relationships lead to several divorces and animosity with his ex wives. Livermore lived a lavish lifestyle, but his relationship with money was the most interesting aspect of his life. He made himself rich and then broke again on three occasions. It's said that he was a manic depressive or similar which would explain his often erratic behaviour. Without ever getting help for his problems, he took his own life in New York in 1940.
Livermore wrote the classic "How to Trade in Stocks" with his exploits recorded in one of the greatest book on speculation of all time.
