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Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore

4.14  ·  Rating Details ·  7,527 Ratings  ·  252 Reviews
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 ...more
ebook, 448 pages
Published June 15th 2010 by Wiley (first published November 30th 1922)
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(showing 1-30 of 3,000)
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Duffy Pratt
Mar 14, 2011 Duffy Pratt rated it really liked it  ·  review of another edition
Shelves: trading, memoir
This book is a marvel. It's well written. 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
...more
Saman
Sep 25, 2015 Saman rated it it was amazing  ·  review of another edition
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.
John Spillane
1) This is a 300 page bull-sesh

2) Good to audiobook in order to run the gamut of market reactions on yourself on somebody else's dime

3) Make no mistake this is not a good book, really dull compared to More Money Than God, When Genius Failed, or The Black Swan; less so than what little I read/remember of The Intell. Inv., but obvi RSO is addressing something wholly different than any of those

4) Definitely could have used this when I was a wannabe day trading teen, would have hated it, but I thin
...more
Bill
Jul 01, 2014 Bill rated it it was amazing  ·  review of another edition
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 1900s, 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 1923, human nature remains virtually unchanged. Fear, greed, hope and pride are the same today as they were in the early 1900s and these core fundamental human emotion ...more
Erwin
Apr 22, 2011 Erwin rated it really liked it  ·  review of another edition
Reminiscences of a Stock Operator is the auto-biography of "Jesse Lauriston Livermore", a famous Wall Street speculator from 100 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 100 years ago, but the overall strategy and
...more
Christian Cianci
Aug 30, 2016 Christian Cianci rated it really liked it  ·  review of another edition
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. Livermore worked his way up, started with $0 and earned over $100 Million. 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.
Subinjith Sukumaran
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.good read
George Jankovic
May 07, 2016 George Jankovic rated it it was amazing  ·  review of another edition
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.
Jaroslav Tuček
Apr 17, 2016 Jaroslav Tuček rated it it was amazing  ·  review of another edition
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. Lefèvre writes well and there is somethin
...more
Federico Salinas
A classic. 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 ...more
Vladimir Vereshchak
Sep 18, 2015 Vladimir Vereshchak rated it it was amazing  ·  review of another edition
Recommends it for: traders with some experience
Shelves: trading
Jesse Lauriston Livermore. Certainly one of the greatest traders the history has ever known. Shall I say that? An “absolutely-must-read-book” for any (aspiring) market professional. 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. I couldn't stop. Every other line would make so much sense to me ...more
James Lan
Jan 15, 2015 James Lan rated it it was amazing  ·  review of another edition
Shelves: stocks
"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 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 ...more
Walter
This book is one of the premier works about the trading of stocks and commodities. Written by Edwin Lefevre, a business writer of the 1900-1920 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 ...more
Mark Speed
Aug 12, 2014 Mark Speed rated it really liked it  ·  review of another edition
Shelves: business, biography
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
...more
Stuart
A fascinating look at stock trader Jessie Livermore, a self-made speculator who made and lost fortunes repeatedly in the early 1900s, 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 ...more
Grant Palmquist
Dec 20, 2012 Grant Palmquist rated it it was amazing  ·  review of another edition
4.5 stars. 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 1900s. 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 ...more
Sujata Sahni
Right out of Grammar School, Larry Livingston got a job as a quotation board boy in a stock brokerage office where he posted numbers on the big board in the customer’s room. The book talks of his experiences from his first trade on Burlington and his profit of 3.12$ and getting the name of Boy Plunger in the bucket shops to his entry and winnings on Wall Street. 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
...more
Hari
Sep 20, 2011 Hari rated it it was amazing  ·  review of another edition
Shelves: stock-market
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
...more
Russ Clark
Mar 14, 2015 Russ Clark rated it it was amazing  ·  review of another edition
I liked the book. As many authors stated, the rules of 1923 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?) but is much more difficult to maneuver legally for fun and profit. I really enjoyed learning how large blocks of stock are traded and being reminded that large blocks of stock are best sold ...more
David
Aug 20, 2015 David rated it it was ok  ·  review of another edition
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 ...more
Dustin
Sep 07, 2014 Dustin rated it really liked it  ·  review of another edition
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. I did find myse ...more
Jamie Beach
Jan 03, 2016 Jamie Beach rated it really liked it  ·  review of another edition
I had a slight interest in stocks and trading before I read this and then got even more interested. This book (biography?) reminded me slightly of On the Road - a first person account of travels around the US in a time before today. 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
...more
erjan avid reader
since this book is "must read classic" all recommend to read, I have glanced inside and skimmed some usecases.

The biggest lesson from this book: "one must know himself first, his behavior in the market"

I m glad i have read it before all other flashy, famous titles.

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
...more
David
Nov 19, 2015 David rated it it was amazing  ·  review of another edition
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 ...more
ACT
Sep 02, 2014 ACT rated it really liked it  ·  review of another edition
Tip: 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 100 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 tot
...more
Tamp_kh
Apr 27, 2016 Tamp_kh rated it it was amazing  ·  review of another edition
Эта книга заслужила право быть Библией финансовых специалистов и биржевых брокеров. И в ней совершенно верно подчёркнут тот принцип, что биржа начинается и заканчивается человеком. Теория вероятности, биржевая статистика и прочее -- это всего лишь инструменты, которыми манипулирует человек... Или которые манипулируют человеком)
P.S. Интересно, сколько денег было потрачено дилетантами, которые после прочтения этой книги решили попытать своё счастье на бирже?)
Martin
Aug 24, 2014 Martin rated it it was amazing  ·  review of another edition
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.
Dinesh Bhandari
Oct 09, 2014 Dinesh Bhandari rated it really liked it  ·  review of another edition
Shelves: non-fiction
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.
Sarah
Apr 20, 2016 Sarah rated it really liked it  ·  review of another edition
A great classic about the stock market. Full of fundamental truths that are just as applicable today as they were in the 1920s. A must-read for anyone even remotely interested in the market and investing.
Iskender Kebab
Dec 17, 2014 Iskender Kebab rated it really liked it  ·  review of another edition
A wonderful look at the stock market as it was during the hay-day of the early 1900s. Good timeless advice about managing emotions, risks, etc for regular investors. I can't say I'd make a better day trader because of it, but the advice is sound. I actually thought this book was a fun read (erm...listen?), it definitely drives home the point of people and markets never really change.
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Edwin Lefèvre (1871–1943) was an American journalist, writer, and statesman most noted for his writings on Wall Street.

George Edwin Henry Lefèvre was born in Colón, Colombia (now Republic of Panama). 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
...more
More about Edwin Lefèvre...

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“There is nothing like losing all you have in the world for teaching you what not to do. 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!” 4 likes
“The nature of the game as it is played is such that the public should realize that the truth cannot be told by the few who know.” 3 likes
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