Reminiscences of a Stock Operator - Softcover

Lefevre, Edwin

Softcover

ISBN 10: 1946963062 ISBN 13: 9781946963062

Publisher: Albatross Publishers, 2017

Synopsis

Facsimile of 1923 Edition.  First published in 1923, Reminiscences is a fictionalized account of the life of the securities trader Jesse Livermore.  Despite the book's age, it continues to offer insights into the art of trading and speculation. In Jack Schwager's Market Wizards, Reminiscences is quoted as a major source of stock trading learning material for experienced and new traders by many of the traders who Schwager interviewed.  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.  Along the way, Livermore learns many lessons, which he happily shares with the reader.  The book is considered an investment classic.

About this title

Review

Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.

Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. For example:

It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! 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.

If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. --Harry C Edwards

Review

"...certainly one of the most entertaining books ever written about stock trading..." ( Money magazine, November 2007) "...is a classic that gives readers a sense of a trader′s mind..." ( Wall Street Journal , August 7, 2006) " an engaging read, chock–full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." ( Money Week , October 2006) contains timeless advice on the markets. ( The Independent, Extra , Thu 13th March)

"...is a classic that gives readers a sense of a trader′s mind..." ( Wall Street Journal, August 7, 2006)

" an engaging read, chock–full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." (Money Week, October 2006)

contains timeless advice on the markets. (The Independent, Extra, Thu 13th March)

Edition details

• Publisher: Albatross Publishers
• Publication date: 2017
• Language: English
• ISBN 10: 1946963062
• ISBN 13: 9781946963062
• Binding: Paperback
• Number of pages: 250