First published in , “Reminiscences of a Stock Operator” is the most widely read, highly recommended investment book ever. Generations of readers have. And thanks to American journalist Edwin Lefevre’s Reminiscences of a Stock Operator, a work of “fiction” that is in fact a thinly veiled biography. The Paperback of the Reminiscences of a Stock Operator by Edwin Lefevre at Barnes & Noble. FREE Shipping on $ or more!.

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That’s what makes the book enduringly relevant. Jesse would be broke and earn millions multiple times reminiscenes then, even though he would become more famous by making a killing with a huge short position in the market inthe start of the Great Depression.

Be that as it may, the book is refreshing in showing that even an unregulated market is remoniscences a market of thieves: There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. The book tells the story of Livermore’s progression from day trading in the then so-called “New England bucket shops ,” to market speculator, market maker, and market manipulator, and finally to Wall Street where he made and lost his fortune several times over.

Reminiscences of a Stock Operator. Livermore was an active trader on the NY Stock Exchange for reminiscdnces years, a This book is one of the premier works about the trading of stocks and commodities. Sep 06, Hari rated it it was amazing Shelves: Once, when someone cornered a commodity, he broke it by shorting a related commodity, causing the whole edifice to crumble and allowing him to get out, at his own price.


Old man Partridge’s insistence on the vital importance of being continuously bullish in a bull market doubtless made my mind dwell on the need above all other things of determining the kind of market a man is trading in. The Mistake family is so large kefevre there is always one of them around when you want to see what you can do in the fool-play line. This book is one of the premier works about the trading of stocks and commodities. It is no trick at all to be right on the ledevre.

But it only worked well at bucket shops, where he could get an instant fill at the desk, because the order was never actually sent to the exchange floor to be executed. My experience of 30 years as a trader is to always follow the line of leffevre resistance.

Men who can both be right and sit tight are uncommon.

Reminiscences of a Stock Operator – Wikipedia

Once he moves into more legitimate brokerage trading, the story gets quite repetitive detailing his various trading schemes, along with successes and failures. Lists with This Book. If the market traded a quarter of a million shares, it was a huge day.

I made up my mind to be wise and play carefully, conservatively. Or is that another Walls Street con? This is a great book, expertly written, that takes you inside the mind of stock speculator Larry Livingston AKA Jesse Livermorewho made and lost fortunes in the stock market in the early s.

I read this book virtually every summer, not only as a very interesting historical account of the life of a famous Wall Street trader in the early s, but also as a learning tool.

Reminiscences of a Stock Operator

In real life, Livermore lost it all one last time, and shot himself, the decade after this book first reminizcences out. Did you get that?


There is nothing like losing all you have in the world for teaching you what not to do. I didn’t come from a shiny university or have bankers as parents. This difference between the professional and the amateur or occasional trader cannot be overemphasised. This book offer me a whole new perspective of how to handle market lfevre, how to stay confident in your position without wavering by words of others or rumors, or how to be calm and patient under pressure of the market and so on.

News was routinely withheld until insiders finished trading. During the great crash of OctoberLivermore made his first million dollars in the market, taking a short position that was so large that JP Morgan himself asked Livermore to stop shorting stocks for the sake of the market.

Reminiscences of a Stock Operator by Edwin Lefèvre

Written in s street slang, without much of a structure, the book is still relevant today. From Wikipedia, the free encyclopedia. If you like books and reminiscwnces to build cool products, we may be looking for you.

It always the play itself: Although toward the end of the book he does explain that tracking eswin fundamentals did help him later in his career. It reads like a fiction book. He must not only observe accurately but remember at all times what he has observed.