No trivia or quizzes yet. Goodreads helps you keep track of books you want to read. Want to Read saving…. Want to Read Currently Reading Read. Refresh and try again. Open Preview See a Problem? Thanks for telling us about the problem. Return to Book Page. Reminiscences of a Stock Operator 4. First published in , "Reminiscences of a Stock Operator" is the most widely read, highly recommended investment book ever.
Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life--and your portfolio. Hardcover , pages. All Editions Add a New Edition Combine. To see what your friends thought of this book, please sign up. To ask other readers questions about Reminiscences of a Stock Operator , please sign up.
Be the first to ask a question about Reminiscences of a Stock Operator. Lists with This Book. Jan 17, Duffy Pratt rated it really liked it Shelves: This book is a marvel. It clings very closely to the trade of a speculator, and barely touches on any personal life. For example, we only learn that the narrator has a wife when someone tries to use her to hook him into a stock manipulation. Everything focuses on the markets, and how the narrator interacts with the markets.
The technology, and the law, have changed enormously. But one of the central points of the book is that fear, greed, hope and ignorance will drive the marke This book is a marvel. But one of the central points of the book is that fear, greed, hope and ignorance will drive the markets for as long as humans make trading decisions.
It's true that the advent of computerized trading robots may take those emotions out of some trading nowadays, and may lead to problems of their own. But those factors still weigh as heavily on the markets as they did at that time.
And I don't think I've ever read a better explanation of how each of those things can impact trading decisions and price movements. As with many memoirs, the beginning is the most electric, and has the most personal interest. Here, we start with his experience in totally unregulated "bucket shops," where the businesses operate on extremely high margin, and actively take positions against their customers to fleece them.
People still accuse some online brokerage houses of working the same way. And the explanation of those mechanics showed me, for the first time, how it might still be possible though much more sophisticated nowadays.
Even more extraordinary, given the feeling of authenticity throughout this book, is that it is a fictionalized account. Lefevre was a journalist.
Apparently, he spent a few months with one of the leading speculators of the day. He talked with him, got to know him, and interviewed him extensively. The book is a distillation of that experience and those interviews. More than anything else, I think this book captures the mindset of a trader, and that is why it is still so admired.
It's well worth reading for anyone interested in trading, or generally in Wall Street. View all 8 comments. Jan 16, Saman rated it it was amazing Shelves: If you have the slightest interest in stock markets then you should read this book. Even though it got dry at some parts in the middle of the book, I truly enjoyed it. Aug 05, John Spillane rated it liked it Shelves: May 26, Bill rated it it was amazing.
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.
Or should I say continuing education. While the rules and regulations of Wall Street have changed dramatically since this book was first published in , human nature remains virtually unchanged. 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.
Fear, greed, hope and pride are the same today as they were in the early s and these core fundamental human emotions can account for the rise and fall of every Wall Street trader, from the tiny retail players to large hedge fund and private equity fund managers. The book is a non-fictional Wall Street primer about "Lawrence Livingstone", a pseudonym for Jesse Livermore, the legendary lone Wall Street trader whose personal fortune purportedly peaked between 1.
However, ignoring his own rules and falling to the emotions of hope, fear, greed and pride, Livermore was often flat broke during his career and entered bankruptcy in He had been suffering from depression and in his suicide note he describes his life as a "failure". I have been enamored with Wall Street since I was a high school kid, not necessarily exclusively for the profit potential although that is surely a major motivator, but more with the observation of the psychology of the marketplace.
Equity prices rise and fall according to vagaries of human emotions - think fear, hope, greed and pride. Remember Fed Chairman Alan Greenspan's famous "irrational exuberance" comment?
The cauldron of fear, hope, greed and pride at full boil! While this book is probably not a great fit for those with little or no Wall Street experience or interest, anyone who trades individual equities or commodities or is involved in overseeing a K account should give this investment classic a read Apr 22, Erwin rated it really liked it.
Reminiscences of a Stock Operator is the auto-biography of "Jesse Lauriston Livermore", a famous Wall Street speculator from years ago. 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. Now that the markets are all fully imersed in the information age, a single speculator would be hard pressed to use the exact tactics that Livermore used years ago, but the overall strategy and Reminiscences of a Stock Operator is the auto-biography of "Jesse Lauriston Livermore", a famous Wall Street speculator from years ago.
Now that the markets are all fully imersed in the information age, a single speculator would be hard pressed to use the exact tactics that Livermore used years ago, but the overall strategy and how the markets actually operate is surprisingly the same.
Reading, you very rarely feel that the book was written years ago it could have been 1 year ago. I was amazed at the similarities between the tactics that Livermore describes using, and the tactics that George Soros describes in The Alchemy of Finance Reading the Mind of the Market. The parallels far exceed the divergences. Livermore reminds us that, if you are going to engage in the markets, you should not listen to anyone. Most of the people are often wrong, as described in his favorite book Extraordinary Popular Delusions and the Madness of Crowds.
When the bureaucrat, be he corporate or government, assures you that "nothing is wrong", then get your money and run. When the insiders announce nothing, but are buying then you should be buying. The only way to get a stock price to move up is for people to buy it.
The only way to move it down is for people to sell it. It's when you actually think about who is buying and who is selling what quantity in this batch and what quantity in total at what time that's where the real story is. And there are some great speculators, like Soros and like Livermore that can just read the information available to everyone, but they are able to see the whole story or at least more of the story than the people around them.
Perhaps most importantly, the story really shows how empty the life of speculation is. Spending so much time and energy without changing anything, without creating anything. Considering that life is so short and time is so precious, the life of the speculator wouldn't be one of my first choices. Aug 30, Christian Cianci rated it really liked it. One of my favorites. I'm a big time Jesse Livermore fan.
For a guy like myself. I didn't come from a shiny university or have bankers as parents. Without those two credentials, breaking into high finance is hard.
His life is full of tragedy and redemption. He is a great American storyteller and turn of the century personality. More people should take the time to get to know the story behind Jesse Livermore. Oct 29, Subinjith Sukumaran rated it really liked it. What i think is he really was an heavy trader who cared more for the game of stock broking principles rather than the money part.
A detailed book of intrinsic thoughts and feelings as an stock broker experiences during the trade off from his early trading days itself and how it actually affected his trading actions. May 07, George Jankovic rated it it was amazing. This book is almost a hundred years old, but it's timeless.
It chronicles the life of one of the most legendary stock traders. It reads like a fiction book. One can learn and have fun. There can't be because speculation is as old as the hills. Whatever happens in the stock market to-day has happened before and will happen again.
I've never forgotten that. I suppose I really manage to remember when and how it happened. The fact that I remember that way is my way of capitalizing experience. They say there are two sides to ev 1- "Another lesson I learned early is that there is nothing new in Wall Street. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of Stock speculation.
The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with with plodding minds. It's the guessing that develops a man's brain power.
Just consider what you have to do to guess right. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win. Did you get that? You begin to learn! It never was my thinking that made the big money for me. It always was my sitting. It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets.
I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine—that is, they made no real money out of it.
Men who can both be right and sit tight are uncommon. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money. The market does not beat them.
They beat themselves, because though they have brains they cannot sit tight. It is the only way in which the meaning reaches me. I cannot get out of facts what somebody tells me to get. They are my facts, don't you see? If I believe something you can be sure it is because I simply must. And after he makes them he will ask himself why he made them; and after thinking over it cold-bloodedly a long time after the pain of punishment is over he may learn how he came to make them, and when, and at what particular point of his trade; but not why.
And then he simply calls himself names and lets it go at that. Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers or cousins of the original. The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line. The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear.
In speculation when the market goes against you you hope that every day will be the last day—and you lose more than you should had you not listened to hope—to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little.
And when the market goes your way you become fearful that the next day will take away your profit, and you get out—too soon. The successful trader has to fight these two deep-seated instincts. He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit.
It is absolutely wrong to gamble in stocks the way the average man does. A trader gets to play the game as the professional billiard player does—that is, he looks far ahead instead of considering the particular shot before him. It gets to be an instinct to play for position. There is no need to feel anger over being human.
But the inverted tip that is, the explanation that does not explain—serves merely to keep you from wisely selling short. The natural tendency when a stock breaks badly is to sell it. There is a reason—an unknown reason but a good reason; therefore get out. But it is not wise to get out when the break is the result of a raid by an operator, because the moment he stops the price must rebound.
There are people who go on hope sprees periodically and we all know the chronic hope drunkard that is held up before us as an exemplary optimist. Tip-takers are all they really are. The behaviour of a certain stock is all you need at times. Then experience shows you how to profit by variations from the usual, that is, from the probable. On the other hand there is profit in studying the human factors—the ease with which human beings believe what it pleases them to believe; and how they allow themselves— or by the dollar-cost of the average man's carelessness.
Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. It isn't desirable that it should. It cannot be checked by warnings as to its dangers. You cannot prevent people from guessing wrong no matter how able or how experienced they may be.
Carefully laid plans will miscarry because the unexpected and even the unexpectable will happen. Disaster may come from a convulsion of nature or from the weather, from your own greed or from some man's vanity; from fear or from uncontrolled hope. But apart from what one might call his natural foes, a speculator in stocks has to contend with certain practices or abuses that are indefensible morally as well as commercially.
It requires more time and more work to keep posted and to that extent stock speculation has become much more difficult for those who operate intelligently. Feb 24, Rohan rated it it was amazing. One of the best books I have read. He does not feel the difference much —that is, he does not vividly remember how it felt not to be a millionaire.
He only remembers that there One of the best books I have read. He only remembers that there were things he could not do that he can do now. It does not take a reasonably young and normal man very long to lose the habit of being poor. It requires a little longer to forget that he used to be rich. I suppose that is because money creates needs or encourages their multiplication.
I mean that after a man makes money in the stock market he very quickly loses the habit of not spending. But after he loses his money it takes him a long time to lose the habit of spending. It cost me millions to learn that another dangerous enemy to a trader is his susceptibility to the urgings of a magnetic personality when plausibly expressed by a brilliant mind. It has always seemed to me, however, that I might have learned my lessons quite as well if the cost had been only one million.
But fate does not always let you fix the tuition fee. She delivers educational wallop and presents her own bill, knowing you have to pay it, no matter what the amount maybe.
Whenever I have lost money in the market I have always considered that I have learned something; that I have lost money I have gained experience, so that the money really went for a Tuition fee. A man has to have experience and he has to pay for it.
The money a man loses is nothing; he can make it up. But opportunities do not come everyday. Oct 03, Walter rated it really liked it Shelves: This book is one of the premier works about the trading of stocks and commodities.
Written by Edwin Lefevre, a business writer of the era, it is actually the story of Jesse Livermore, one of the greatest stock traders of all time. Livermore started trading at the age of 15 and became known as the "Boy Plunger" because he was famous for taking huge short positions in the market, hoping to profit from price declines.
Livermore was an active trader on the NY Stock Exchange for 40 years, a This book is one of the premier works about the trading of stocks and commodities. Livermore was an active trader on the NY Stock Exchange for 40 years, and during that time he made and lost 4 different multi-million dollar fortunes.
During the great crash of October , Livermore 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.
In , Livermore's attempt to corner the post WWI cotton market caused President Wilson to invite him to the White House to try to persuade him to remove his corner for the sake of the struggling post-war economy. By , Livermore had lost the whole sum. In , he walked into a NY hotel, sat in the coat room and killed himself. Such was the life of the trading genius. In this book, Livermore gives us his trading tips and experiences. Written in s street slang, without much of a structure, the book is still relevant today.
This is not because Livermore teaches the reader how to use options to hedge a position, nor is it a how-to manual on how to corner a commodities market. Rather, it is a very abstract book of advice on how to be a disciplined trader. Livermore tells the reader that quick profits in the market are a fairy tale. Nobody can time the market well enough to maximize profits, and there are some markets that are so bad that the good trader is best advised to just get out and enjoy a vacation.
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. He says that there were many times that he sold right at the peak of a market, but it did him no good because he didn't stay short long enough to profit from the fall.
This book is more about the discipline of trading than about any particular trading method. That's what makes the book enduringly relevant. One of the interesting things about this book is the obvious gambler's mentality that he uses to trade. Livermore began trading in "bucket shops", which are essentially gambling parlors where people can bet on stock and commodity prices. Livermore made so much money in the bucket shops by his 20th birthday that he was banned from bucket shops in Boston and Missouri.
So he moved to New York and began trading actual stocks and commmodities. Livermore's approach to trading is almost purely technical. He tracks stock movements and does not concern himself all that much with actual market fundamentals.
Although toward the end of the book he does explain that tracking market fundamentals did help him later in his career. Another intersting aspect of the book is how many ways Livermore describes to manipulate the market through buying pools, insider trading, stock swapping and other activities that are completely illegal in today's market, but were perfectly fine and even expected in the market that Livermore lived in. If you do not have a good understanding of stock and commodity trading then you will probably not understand this book, since the author uses trading terminology all the time without defining his terms.
But if you are a trader, this is probably the best book that you can read on the subject. Aug 16, Vladimir Vereshchak rated it it was amazing Recommends it for: Certainly one of the greatest traders the history has ever known.
Shall I say that? What's hard to tell, however, is how a novice-trader would perceive this writing. See, I've read it only after I've been on the market for about six years. And as I was reading, it felt as I was talking to my pal who's just gone through the same things. Every other line would make so much sense to me Jesse Lauriston Livermore.
Every other line would make so much sense to me Here's something I've written out: All through time, people have basically acted and reacted the same way in the market as a result of greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis.
Over and over, with slight variations. Because markets are driven by humans and human nature never changes. But what the dickens does that matter?
Your business with the tape is now - not tomorrow! The reason can wait. But you must act instantly or be left. Whatever happens in the stock market today has happened before and will happen again. What he desires is to be told specifically which particular stock to buy or sell. He wants to get something for nothing. He does not wish to work. It is too much bother to have to count the money that he picks up from the ground.
And when a millionaire is right his money is merely one of his several servants. Losing money is the least of my troubles. A loss never bothers me after I take it. I forget it overnight. But being wrong—not taking the loss—that is what does damage to the pocketbook and to the soul. 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.
May 26, Stuart rated it liked it Shelves: 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. The first part of the book is very interesting, covering his early swashbuckling days making money from "bucket shops", essentially unregulated stock gambling establishments where the house bets against unsuspecting customers.
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.
He gets so successful that he has to rotate among different locations and use disguises to avoid being discovered a lot like modern-day card sharks or the movie "21". Once he moves into more legitimate brokerage trading, the story gets quite repetitive detailing his various trading schemes, along with successes and failures.
We do gain great insight on trading psychology and market behavior mainly greed and fear, as Warren Buffet has explained , and it's ironic to realize that nothing has changed on the human side, just the technology and market complexity. I couldn't give it a higher rating though since it doesn't go anywhere further with the story, and unless you actually are a trader, the thrill of beating your rivals gets old after a while.
Numerous newsletters and authors have urged me to read this book. Jesse Livermore was one of the most infamous 'stock operators' who ever lived. He began trading professionally at the age of just fifteen, and was active for over 45 years. It really is an extraordinary read, and completely timeless.
This is part-biography, part-guide to speculation, part-warning to the public about the tricks companies and Wall Street pull on private investors to part them from their money. What's remarkable is tha Numerous newsletters and authors have urged me to read this book. What's remarkable is that he was calling these 'old tricks' and referring to behaviour in the s.
Top Stock market Wall Street Books - Market Timing Strategies
This book was written in the mids. Here we are nearly a century on and nothing in human behaviour has changed. The same tricks that he asserts should be legislated against are still used today - stock splits, for example, are still something Wall Street uses to con investors. Apple - one of the world's top ten stocks by market capitalisation at the time of writing - underwent such a pointless split just two months ago June and the investing public loved it like the suckers they we are.
Why bother reading the current slew of books about Wall Street cons when you can buy this classic for pennies? Or is that another Walls Street con? Jan 15, James Lan rated it it was amazing Shelves: This book offer me a whole new perspective of how to handle market intelligently, 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. This is a great book suitable for those who are either experienced or not experienced ,which wish to venture into the financial w "To be the best, you must learn from the best" and sure it seems like I have really learned from the best through reading this book.
This is a great book suitable for those who are either experienced or not experienced ,which wish to venture into the financial world of success. Jesse Livermore ,or Livington, an author of this amazing, compelling, easy-to-understand book has implemented tips and tricks of how to beat the market and knowing ahead of the "stock manipulators" through story-telling about his life as an independent trader.
Not only you would get to know tips and tricks from reading this book, but also a life of one of the most talented trader of all time as well. This book is a "must" have for traders who are seriously planning on making a fortune through this dynamic-volatile stock market. You will surely not regret reading this book. Oct 17, Federico Salinas rated it liked it. I'm writing this review two years after I read the book, so I'm going here by impression and memory.
It takes you back to an era where there were few rules to regulate trading, so a lot of the ways to make money back then would be majorly illegal today.
Be that as it may, the book is refreshing in showing that even an unregulated market is not a market of thieves: It is still difficult to make money because the market itself has punishing mechanisms that may reflect the vagaries of hu A classic. It is still difficult to make money because the market itself has punishing mechanisms that may reflect the vagaries of human nature.
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.
The character in the book always seeks clarity and is wonderfully aware of his own limitations -- but that doesn't stop him from trying to beat the market. Fascinating insights into human nature from a journalist who understood the character about which he wrote this book. That character was a remarkable man. One man and one mind against the world - and the only way to prove that he is right is to make money. While the second half of the book tends to focus on general principles of stock speculation and will probably interest only a reader familiar with the trading business, the first half offers a really engaging, personal story of a brilliant man's journey through the bucket shops of the late 19th century towards his spectacular ups and downs in Wall Street.
It is also a nostalgic trip to the good old times of pre-SEC markets, of the unprecedented rise of American industry, of names like Kuhn-Loeb-Harriman or Bethlehem Steel, of days when Livermore could note that the capitalisation of US Steel exceeded the size of the entire government debt - well, good times. Dec 20, Grant Palmquist rated it it was amazing. This is a great book, expertly written, that takes you inside the mind of stock speculator Larry Livingston AKA Jesse Livermore , who made and lost fortunes in the stock market in the early s.
The narrator is a great writer, who guides the reader through Livingston's ups and downs, speculations, and the logic behind all of it. There is a lot of useful investment advice to be gleaned from this book, but you must know investment terminology. Without it, a lot of the book's informat 4. Without it, a lot of the book's information might fly right over the reader's head; hence, 4. I'm pretty well-acquainted with stocks and the market and still parts of this book lost me.
It reads as if he's speaking to a fellow trader. Sep 06, Hari rated it it was amazing Shelves: This is only the second book that I've read about Stock Market speculation , but I'm pretty sure that it'll be hard to find any better. While the second half of this book pretty much flew right over my head, I'm sure that there's something in the first half for everyone - especially amateurs or beginners such as myself. Even though this book was written such a long time ago, I think the basic principles discussed here are still valid - many reviews echo this sentiment.
I suppose the biggest plus a This is only the second book that I've read about Stock Market speculation , but I'm pretty sure that it'll be hard to find any better. I suppose the biggest plus about this book is that these principles aren't discussed in a dry, theoretical fashion, but instead, delivered through a series of entertaining experiences recounted by the narrator.
Reminiscences of a Stock Operator - Edwin Lef?vre - Google Livres
If you're new to the stock market game , read this book. And if you're not, and you still haven't read this book, you probably should. Jan 25, Sujata Sahni added it. The book talks of his experiences from his first trade on Burlington and his profit of 3.
Larry was wiped out clean several times which taught him his lessons and have been narrated in detail in the book. There is no asphalt boulevard to success in Wall Street or anywhere else.
Of all speculative blunders there are few greater than trying to average a losing game. My experience of 30 years as a trader is to always follow the line of least resistance. People who look for easy money invariably pay for the privilege of proving conclusively that it cannot be found on this sordid earth. Aug 12, David rated it it was ok.
An interesting insight into the work of Jesse Livermore, one of the most prominent stock speculators of the early 20th century. Given that this book is primarily an account of his numerous failures, contradictions, and his total inability to ever enjoy a vacation with his endlessly acquired, and then destroyed fortunes, the only thing I'm left confused by is why any sane human in their right mind would ever read this book as investment advice, which it seems that a good many confused people have An interesting insight into the work of Jesse Livermore, one of the most prominent stock speculators of the early 20th century.
Given that this book is primarily an account of his numerous failures, contradictions, and his total inability to ever enjoy a vacation with his endlessly acquired, and then destroyed fortunes, the only thing I'm left confused by is why any sane human in their right mind would ever read this book as investment advice, which it seems that a good many confused people have. Read only for novelty, or as a moral fable against the hazards of stock market gambling.
It's regrettable that this biography did not detail the end of Livermore's life, where he finally shot himself in the head, a deeply depressed and unhappy man. I liked the book. As many authors stated, the rules of stock exchanges are much different than they are today.
For example, insider trading was rife before the Great Depression and many of the best stocks were locked up by insiders or groups. This second example does happen today Sears Holdings anyone? I really enjoyed learning how large blocks of stock are traded and being reminded that large blocks of stock are best sold I liked the book.
I really enjoyed learning how large blocks of stock are traded and being reminded that large blocks of stock are best sold piecemeal rather than in a big chunk so the price point is not upset by the trade. Options are covered but I think they were relatively relegated to the commodities market during this time. A very good book and I wish I had read it in my 20s when I first started trading. Jan 03, Jamie Beach rated it really liked it.
I had a slight interest in stocks and trading before I read this and then got even more interested. Of course, this book has a significantly different bend - with the narrative primarily being about huge sums of money won and lost through big and mostly bearish stock market trades. I enjoyed it thoroughly and finished reading it in February while walking down the I had a slight interest in stocks and trading before I read this and then got even more interested.
I enjoyed it thoroughly and finished reading it in February while walking down the beach in St Petersburg FL on a sunny, cool and blustery day. If you have a remote interest in the stock market, I recommend this read. Aug 10, Dustin rated it really liked it.
I read this book after seeing it on a "must read" list for every investor. Given that I am just beginning to familiarize myself with the world of stocks and speculators, I found several terms throughout the book that I was unfamiliar with, and spent quite some time trying to learn their meaning. That being said, I found the book to be fascinating, and I am certain I will re-read it in the future.
There are several pearls of wisdom throughout that one can apply to life in general.
Reminiscences of a Stock Operator - Wikipedia
I did find myse I read this book after seeing it on a "must read" list for every investor. I did find myself re-reading quite a few paragraphs in an effort to understand what was taking place, but it was due to my own ignorance.
I can definitely see why this one is on a must read list for investors. Feb 27, erjan avid reader rated it liked it. The biggest lesson from this book: My expectations from it were pretty high - i thought there would be some strategy, but it comes down to fundamental knowledge of the market conditions, where it s going overall. The markets of course have changed a lot in terms of the since this book is "must read classic" all recommend to read, I have glanced inside and skimmed some usecases.
The markets of course have changed a lot in terms of the rules, regulations etc. The memoir is still valid to read. Nov 19, David rated it it was amazing. Seems to indicated that being famous and having a reputation for making money is an important part of winning on wall street. I enjoyed the explanation of how stock prices are manipulated in order to sell in bulk without sending prices lower. Also I liked how he tried to be aware of the underlying conditions so that he could speculate intelligently.
He notes that it was simpler when there were fewer companies traded on the exchange than there are now. Sounded like the bull markets were the easy Seems to indicated that being famous and having a reputation for making money is an important part of winning on wall street. Sounded like the bull markets were the easy times, but bear markets had more action. The decision to sell is harder than the one to buy. Aug 15, ACT rated it really liked it. There's an edition of the book that includes commentary at the beginning of each chapter about the real Livingston.
While the book certainly holds on its own, the extra backstory adds another layer to it. I saw this book on multiple "must read" finance book lists. I was not expecting much from a story about some dude in the market nearly years ago, but it has been a great read. It is so well written, much of his philosophy is still very valid, and at times hard to believe its true. I totally get why it's on all those lists!
This should be required reading for every trader. It's important to understand the up's and down's even the most successful traders experience, it's simply part of the learning process.
The key is not to go bust. It shows how Jesse Livermore continued to hone his skills and learn from his mistakes. There are multiple relevant lessons that still apply today, like cut your losses ASAP, ride the winners and don't follow the herd or take tips. Great book for your library and worth multiple reads. Dec 22, John Maxim rated it it was amazing. I'm surprised how much I liked this book.
Its probably in my top 5. A valuable tool in understanding the phycology of investing. Not just stock trading but I think it applies to all types of investing. It reads like a novel, like you get to sit down and talk with a genius in his field and instead of boring you with percentages and dollars he tells you a bunch of great stories.
Oct 09, Dinesh Bhandari rated it really liked it Shelves: This book is about early 19th century stock market trading. It really impresses how the author makes a killing in the market by litening to his gut feelings and acting on it. He is gullible often but learns from his mistakes. Oh if i have to summarize this book to anyone i would just say this line from the book-- 'A man who doesn't make a mistake will own the world in a month but one who doesn't learn frm his mistakes wont earn a damn thing.
Also included is the Livermore Market Key, the first and still one of the most accurate methods of tracking and recording market patterns Jesse Livermore is a stock market legend who made and lost four stock market fortunes in 40 years.
His other books include How to Trade Like Jesse Livermore and a number of novels About The Author: Jesse Livermore is a stock market legend who made and lost four stock market fortunes in 40 years. Emotion is the enemy of successful trades. Hungarian by birth, Nicolas Darvas trained as an economist at the University of Budapest. Reluctant to remain in Hungary until either the Nazis or the Soviets took over, he fled at the age of 23 with a forged exit visa and fifty pounds sterling to stave off hunger in Istanbul, Turkey.
During his off hours as a dancer, he read some books on the market and the great speculators, spending as much as eight hours a day studying. Darvas ploughed his money into a couple of stocks that had been hitting their week high.
He was utterly surprised that the stocks continued to rise and subsequently sold them to make a large profit. At the age of 39, after accumulating his fortune, Darvas documented his techniques in the book, How I Made 2,, in the Stock Market. The book describes his unique "Box System", which he used to buy and sell stocks.
Covers all the popular technical approaches to futures, options and stock markets including Elliott Wave, oscillators, moving averages, Market Logic, point-and-figure charting.
Explains why most traders sabotage themselves and how to avoid doing the same. Trade Your Way to Financial Freedom also addresses reward to risk multiples, as well as insightful new interviews with top traders, and features updated examples and charts. Author Steven Drobny demystifies how these star traders make billions for well-heeled investors, revealing their theories, strategies and approaches to markets.
Whether Russian bonds, Pakistani stocks, Southeast Asian currencies or stakes in African brewing companies, no market or instrument is out of bounds for these elite global macro hedge fund managers.
Highly accessible and filled with in-depth expert opinion, Inside the House of Money is a must-read for financial professionals and anyone else interested in understanding the complexities at stake in world financial markets. Fascinated by traders that quietly generate spectacular returns, those going against the grain of investment orthodoxy, he has uncovered astonishing insights about how they think, strategize and execute their systems.
China Asset Management Co. He also has the distinction of interviewing four Nobel Prize winners in economics, including Daniel Kahneman and Harry Markowitz and has been featured by major press, including: The Wall Street Journal, Bloomberg, CCTV, The Straits Times and Fox Business.
He splits his time across USA and Asia and sees location independence as our future. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety. Since its introduction in , this book has charted and followed this volatile world of financial markets. Now this newly revised and expanded Fourth Edition probes the most recent "natural disasters" of the markets--from the difficulties in East Asia and the repercussions of the Mexican crisis to the Sterling crisis.
His sharply drawn history confronts a host of key questions. Kindleberger Boston, MA was the Ford Professor of Economics at MIT for thirty-three years. He is a financial historian and prolific writer who has published over twenty-four books.
The Art of Short Selling by Kathryn Staley, an expert in the field, uses examples and instructions to show how it can be done successfully--while cautioning that it "is not for the faint of heart. John Train, Train, Thomas, Smith Investment Counsel, and author of The New Money Masters "Kathryn Staley has done a masterful job explaining the highly specialized art of short selling.
Tice, Portfolio Manager, Prudent Bear Fund "Selling short is still a misunderstood discipline, but even the most raging bull needs to know this valuable technique to master the ever-changing markets.
Jim Rogers, author, Investment Biker On the investment playing field, there is perhaps no game more exciting than short selling. With the right moves, it can yield high returns; one misstep, however, can have disastrous consequences. Despite the risk, a growing number of players are anteing up, sparked in part by success stories such as that of George Soros and the billions he netted by short selling the British pound.
In The Art of Short Selling, Kathryn Staley, an expert in the field, examines the essentials of this important investment vehicle, providing a comprehensive game plan with which you can effectively play? Whether used as a means of hedging bets, decreasing the volatility of total returns, or improving returns, short selling must be handled with care? Samuelson, First American Nobel Prize Winner in Economics "The best book there is about the stock market and all that goes with it.
His thorough knowledge of financial affairs gives his observations a great degree of authenticity. But the joy of reading this book comes from his delightful sense of humor. He is a lively and ingeniously witty writer who never stoops to acerbity.
None of the solemn, sacred cows of Wall Street escapes debunking. How has the psychology of investing changed--and not changed--over the last five hundred years? A contributing writer to The Financial Times and The Economist, looks at both the psychological and economic forces that drive people to "bet" their money in markets; how markets are made, unmade, and manipulated; and who wins when speculation runs rampant.
Drawing colorfully on the words of such speculators as Sir Isaac Newton, Daniel Defoe, Ivan Boesky, and Hillary Rodham Clinton, Devil Take the Hindmost is part history, part social science, and purely illuminating: This updated edition includes new concepts, improved chart graphics and new research tools.
New Foreword by renowned economist Paul Volcker "An extraordinary. Dubbed by BusinessWeek as "the Man who Moves Markets," Soros made a fortune competing with the British pound and remains active today in the global financial community. Now, in this special edition of the classic investment book, The Alchemy of Finance, Soros presents a theoretical and practical account of current financial trends and a new paradigm by which to understand the financial market today.
He also describes a new paradigm for the "theory of reflexivity" which underlies his unique investment strategies. Filled with expert advice and valuable business lessons, The Alchemy of Finance reveals the timeless principles of an investing legend.
This special edition will feature a new chapter by Soros on the secrets of his success and a new Foreword by the Honorable Paul Volcker, former Chairman of the Federal Reserve. George Soros New York, NY is President of Soros Fund Management and Chief Investment Advisor to Quantum Fund N. Besides his numerous ventures in finance, Soros is also extremely active in the worlds of education, culture, and economic aid and development through his Open Society Fund and the Soros Foundation.
Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures.
From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets.
Regulation, disclosure, and other things may change, but the general approach and mindset to successful investing are timeless. An essential read for every amateur and professional investor. A readable, authoritative guide.
The updated version of The Aggressive Conservative Investor is very much a value-added proposition. Based on the assumption that stock price rarely reflects real value, authors Whitman and Shubik use numerous case studies to present risk-minimizing methods that also provide high rewards. Still relevant today, this classic work includes a new introduction discussing the dramatic changes that have taken place in the value investing world since its first publication in His father had sent Edwin to the United States when he was a boy and he was educated at Lehigh University where he received training as a mining engineer.
However, at the age of nineteen, he began his career as a journalist and eventually became a stockbroker, as well. Lefevre did work as a broker on Wall Street and was the financial writer for the New York Sun newspaper. He later returned to his home in Vermont where he resumed his literary work, providing short stories for magazines such as The Saturday Evening Post and writing novels.
Share on your website title link preview: Reminiscences of a Stock Operator avg rating preview: Reminiscences of a Stock Operator Goodreads rating: Trivia About Reminiscences of Quotes from Reminiscences of To know what I was capable of in the line of folly was a long educational step. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.
Just a moment while we sign you in to your Goodreads account. Original Title Reminiscences of a Stock Operator ISBN ISBN Less Detail edit details Get a copy: Koyal Info Mag Tokyo Financial Economy Warning News: Reminiscences of a Stock Operator.