Editorial Reviews. From the Inside Flap. Reminiscences of a Stock Operator is the fictionalized Jesse Livermore won and lost tens of millions of dollars playingthe stock and commodities markets during the early s, at onepoint making ten. Reminiscences of a Stock Operator, by Edwin Lefevre, is a classic investing Which is really a depiction of Jesse Livermore, one of the most. Reminiscences of a Stock Operator has ratings and reviews. Jesse Livermore was one of the most infamous ‘stock operators’ who ever lived.

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Of course, the -bucket shops never ask for more margin. It’s a long story. The prosperity of the country was unprecedented. The beauty of doing business with a crook is that he always forgives you for catching-him, so long as you don’t stop doing business with him.

I should have read this book a long time ago. Also, no welsher could ever get back in the game. Whenever I have lost money in the stock market I have always considered that I have learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. Carefully laid plans will miscarry because the unexpected and even the unexpectable will happen. I must take my chances with the market.

Still, that was the only bucket shop that would take my business Reminiscences of a Stock Operator at all, and I had to accept their terms or quit trading. I had had time to think calmly of some of my foolish plays; and then, one can see the whole better when one sees it from a little distance.

Aug 30, Christian Cianci rated it really liked it. Fear, greed, hope and pride are the same today as they were in the early s and these core fundamental human emotion 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.

Livermore’s advice about how to make market profits is not to get in the market at the right place or to get out at the right time, but to be able to sit on a position long enough to earn profits. But soon had to declare personal bankruptcy on over a million dollars. In a bucket shop where your margin is a shoestring you don’t play for long pulls.

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One was the J. Just consider what you have to do to guess right. You cannot prevent people from guessing wrong no matter how able or how experienced they may be.

I’m pretty well-acquainted with stocks and the market and still parts of this book lost me. Livermore describes many of the tactics that he would use to drive prices, either up or down, and most importantly, how he would use the tape to understand prices. On a certain day at a fixed hour the agents all bought jezse much of a certain stock as the managers would let them.

I thought I ought to get out of the market.

Reminiscences of a Stock Operator Quotes

Wikiquote has quotations related to: So I told him: But if something was coming and I didn’t know where from, I couldn’t be on my guard against it. They were one of the oldest of that class of firms. In booms, when the public is in the market in the greatest numbers, there is never any need of subtlety, so there is no sense of wasting time discussing either manipulation or speculation during such times; it would be like trying to find the difference in raindrops that are falling synchronously on the same roof across the street.

I got up to fifty thousand dollars and two days later that went. I was going to play dead safe carefully and conservatively. He talked pretty big for a ot in his position. In other words, the market may at times not behave randomly because people are able to band together to scheme, but over the long run the schemers themselves get undone because human behavior is inconstant. He gets so successful that he has to rotat A fascinating look at stock trader Jessie Livermore, a self-made speculator who made and lost fortunes repeatedly in the early s, before the advent of the Great Depression and securities regulations no accident, I might add.

Losing money is the least of my troubles.

Reminiscences of a Stock Operator. First published inReminiscences is a fictionalized account of the life of the securities trader Jesse Livermore. Suppose Smith is away on a holiday when the selling time comes around? Jan 03, Jamie Beach rated it really liked it.


Reminiscences of a Stock Operator

I escaped because of one of my hunches. Rather reminiscencse tread over ground that has already been thoroughly covered by others, this review focuses on the differences among versions to hopefully assist you in deciding which one to purchase. More than anything else, I think this book captures the mindset of a trader, and livermoree is why it is still so admired. I can’t tell you how it came to take me so many years to learn that instead of placing piking bets on what the next few quotations were going to be, my game was to anticipate what was going to happen in a big way.

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Reminiscences of a Stock Operator by Edwin Lefèvre

I think it was a long step forward in my trading education when I realized at last that when old Mr. He didn’t give me a chance, but began delivering a speech. I didn’t come from a shiny university or have bankers as parents.

There was fifty-one hundred dollars coming to me. 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. I got back to New York, paid Fullerton his five hundred, and started trading again with the St. But, of course, if I had got to operating on such a scale as I do now, for instance, the system would have equally failed me, on account of the effect of my own trading on prices.

Still, they didn’t mend their ways, and so I worked that trick on them several times. Rreminiscences the other end wanted to know what I looked like. Apr 22, Erwin rated it really liked it.

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