Great memoir detailing the early days of the U.S. stock market (late 19th + early 20th century). The author shows that there is very little new under the sun when it comes to the psychology of speculation, and forcefully argues against the more obvious types of foolishness. One minor complaint is that this book was written during a time when markets were made by a relatively small number of active traders, and many of Lefevre's techniques would not work today for the average trader, given how much larger the average float is for any mainstream security.

Overall, a great account of the psychology of a professional trader-- one that has left me with many ideas as we roll into 2011.

Thanks to Jae Sung for the recommendation.