"Reminiscences of a Stock Operator"

[Rocky2008]

I just finished reading "Reminiscences of a Stock Operator and it's a very good book. I think it's a good book for anyone that wants to become a trader or if they are really involved in the markets. The stock trader Larry Livingston in the book (his real name is Jesse Livermore) is a big trader back in the late 1800’s and early 1900’s. The good thing about the book is that he talks about the psychology of trading and market timing. He started off trading or “gambling” in bucket shops and then he learned that he needed to start speculating. He knew he needed to start looking at the underlying conditions and not just the “ticker tape.” He learned from his own mistakes and others and he capitalized on them. After you read the book you will realize that the same mistakes and thinking traders/investors are doing today they did in the past ("Those who forget the past are doomed to repeat it"). They did mention that this memoir is a fictitious account of his early and ascendant years but you don't know how much is true or false.

 

[Disanddat]

I always find it fascinating that the same problems, and ways of making money existed before antiquity, we keep thinking that everything was invented yesterday.

Another interesting story and I recommend googling it as there are many sources and books is how Sir Isaac newton lost 20,000 pounds (around 3 million dollarsed) with the "South Sea Bubble" , he even took his money out and put it back after.

I think the right strategy for a $52,000 portfolio at this time is to buy $2000 worth of good stocks that appear undervalued every week, until a reversal.
Think about it.

 

[Rocky2008]

I always find it fascinating that the same problems, and ways of making money existed before antiquity, we keep thinking that everything was invented yesterday.

Another interesting story and I recommend googling it as there are many sources and books is how Sir Isaac newton lost 20,000 pounds (around 3 million dollarsed) with the "South Sea Bubble" , he even took his money out and put it back after.

I think the right strategy for a $52,000 portfolio at this time is to buy $2000 worth of good stocks that appear undervalued every week, until a reversal.
Think about it.

You are right. We automatically assume that things nowadays didn't exist back then but this book talks about calls, shorting, and manipulating the markets. Also, he talks about how people stayed in the market to long b/c they got greedy and of course they got burned.

 

[Disanddat]

I just ordered it, it got crazy reviews on amazon.

 

[Rocky2008]

Those reviews are usually good b/c his other book "How to Trade Stocks" was written by Richard Smitten and not Jesse Livermore got mixed reviews. When I found out Livermore didn't write it I didn't buy it.

I just ordered "A Random Walk down Wall Street" by Burton G. Malkiel but I haven't read it yet. My friend said it was a good book so I bought it.

 

[Disanddat]

So far it is an interesting, doesn't show its age at all, seems very relevant. Alot of the psychological aspects of trading have already been covered (first 4 chapters) Already I can also recommend reading it.

 

[Rocky2008]

So far it is an interesting, doesn't show its age at all, seems very relevant. Alot of the psychological aspects of trading have already been covered (first 4 chapters) Already I can also recommend reading it.

He's in his teens when he first made his first bet (his moms got to tripping when he brought home so much money). Eventually he will start mentioning his age. The more you read the more it gets interesting. Also he's a very good writer so he knows how to keep your attention.

 

[Disanddat]

He's in his teens when he first made his first bet (his moms got to tripping when he brought home so much money). Eventually he will start mentioning his age. The more you read the more it gets interesting. Also he's a very good writer so he knows how to keep your attention.

It was not written by Livingston but by a talented writer, Edwin Lefevre, but it was from interviews though, since Lefevre knew NOTHING about the stock market.

In the audio version they talk about this at the start. They mentioned that Lefevre was the type who in 30min talking to someone he would know almost everything about them.

Good looking out though , happy to stumble on this.

The complete book can be found online (for free) at http://www.mypivots.com/articles/booktext.aspx?bookname=Reminiscences of a Stock Operator


From my research alot of people think it Edwin Lefevre was just a pseudonym for Livingston but it is not the case.
.

 

[Rocky2008]

It was not written by Livingston but by a talented writer, Edwin Lefevre, but it was from interviews though, since Lefevre knew NOTHING about the stock market.

In the audio version they talk about this at the start. They mentioned that Lefevre was the type who in 30min talking to someone he would know almost everything about them.

Good looking out though , happy to stumble on this.

The complete book can be found online (for free) at http://www.mypivots.com/articles/booktext.aspx?bookname=Reminiscences of a Stock Operator


From my research alot of people think it Edwin Lefevre was just a pseudonym for Livingston but it is not the case.
.

It's hard to believe that the Lefevre wasn't Jesse b/c you can't talk about the market like that just from interviews. Some of that stuff was very complicated. Did you buy the audio version or the book?

Good looking out on the link but I have to buy the actual book b/c I read it on the bus and train. Looking at the computer that long will hurt your eyes. It was a good book and one that I'll keep reading b/c it was written so well. I stumbled on it when I was reading Jim Cramer's "Sane investing in a insane world." He mentioned it but he did not recommend it. Have you read "A Random Walk Down Wall Street?"

 

[Disanddat]

Cosign about the author, they say it was an interview but more than likely he jesse spoke from start to end and maybe the other guy gave some story telling tips.

I bought both (audio and the actual book). I useonline versions to browse and if I like the book I get it.

I signed up with audible, they have some special there.

I have not read "random walk ...". It will probably be next on the list.