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Reminiscences of a Stock Operator

4.18  ·  Rating details ·  16,667 ratings  ·  690 reviews
First published in 1923, "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. ...more
Hardcover, 308 pages
Published January 17th 1923 by Doubleday & Company (first published 1923)
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Average rating 4.18  · 
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 ·  16,667 ratings  ·  690 reviews


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Omar Halabieh
Jul 19, 2013 rated it really liked it  ·  review of another edition
1- "Another lesson I learned early is that there is nothing new in Wall Street. 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."

2- "It takes a man a long time to learn all the lessons of all his mistakes. They say there are two sides to ev
...more
John
Aug 05, 2013 rated it liked it  ·  review of another edition
Shelves: audiobooked
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
David
Aug 12, 2015 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 ...more
Duffy Pratt
Jan 17, 2011 rated it really liked it
Shelves: memoir, trading
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
Bill
May 26, 2014 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 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
Belhor Crowley
Jan 16, 2014 rated it it was amazing
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.
Erwin
Apr 22, 2011 rated it really liked it
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
David Wineberg
Nov 05, 2018 rated it it was amazing  ·  review of another edition
Reminiscences of a Stock Operator is a rollercoaster ride on pre SEC stock markets. It’s the wild west of finance by someone who understood every nuance of it. The book was written in the first person by Edwin Lefevre, but he refers to the hero throughout as Larry Livingston, and it is widely recognized to be the autobiography of Jesse Livermore, to whom the book is dedicated. It was first published in 1923 and republished every decade since. Human failings never go out of style. Especially when ...more
George Jankovic
May 07, 2016 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. ...more
Girish Joshi
Jul 14, 2021 rated it it was amazing  ·  review of another edition
There was nothing new under the sun.

I was recommended this book about two months ago by a dear friend from my high school days. He had noticed that I was reading books on trading and investments. He said that this book is quite popular with the insiders of the finance industry, and not so much with the general public. He was right, as a general public, I had never crossed my paths with this book, and I might never have if not for my friend who works with the leading investment bank. He told
...more
Subinjith Sukumaran
Oct 29, 2015 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.good read
Siva Ranjan
Jul 20, 2015 rated it did not like it
Didn't find this book as insightful as the other books on Investing. It's an endless rant on speculation in an unregulated market during the early 1900's. Markets have matured and evolved now so the book also doesn't stand the test of time. ...more
Brita
Jul 24, 2021 rated it it was ok  ·  review of another edition
Shelves: nf
"Reminiscences of a Stock Operator" tells a story about how a famous stock gambler Jesse Livermore earned and lost millions of dollars at the beginning of 20th century America.
The blurb on the back of the book says that even for the people who do not try their luck in the stock market. I am really interested in stocks and how they behave in different situations, but I did not find it an enjoyable read. I disliked that the genre was not precisely fiction or nonfiction, but probably the closest o
...more
Lee Klein
If there are two rules to investing and #1 is not to lose money and the #2 is to refer to rule #1, it seems I followed the rules by not losing money on a copy of this, nearly $40 for the annotated version I had in my queue. Instead I listened to it on YouTube. It's surprisingly engaging and clear for recounting tales almost a hundred years old. The reader does a fine job, and has a slight Delaware Valley accent maybe (you can tell by how he pronounces "bull" as "boule"). It's the story of a trad ...more
Christian Cianci
Aug 30, 2016 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. 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. ...more
Ektor
Dec 17, 2020 rated it really liked it
The book provides very good timeless advice on trading. Although a bit repetitive towards the end, I found numerous pieces of wisdom throughout.

Edwin Lefevre teaches you the importance of conducting your own research and constructing a system of strict rules to follow when going long or short. A trader should focus on what he knows best and prefer smaller amounts of profit with higher probability of realising rather than short-term improbable large profits.
Mitch Berkson
May 03, 2020 rated it liked it
If you can get past it being a book length humblebrag (I could), it's an entertaining look at the activities of one of the most successful stock traders of the early twentieth century. The last third became a bit repetitive.

Don't get the idea that you'll learn how to make millions of dollars in the same way that he did though. It's full of the usual aphorisms and whatever the secret sauce is is a result of the idiosyncratic details of their successful application.
...more
Rabin Rai
Oct 12, 2021 rated it it was amazing  ·  review of another edition
long read, but worth it to understand trading psychology.
Jonatan Krantz
Mar 09, 2022 rated it it was amazing
A timeless masterpiece with insightful anecdotes on human greed and fear that remains relevant to this day
Vladimir V.
Aug 16, 2015 rated it it was amazing
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
Marcelo Bahia
Dec 23, 2018 rated it really liked it  ·  review of another edition
Shelves: investing
Yeah, I know. I should have read this book a long time ago. But my investment career since the beginning was had at bottom-up equity houses, which invariably made my younger self a Warren Buffett-wannabe (like we haven't enough of them already) who abhorred trading material such as technical analysis or speculation like this one. Only after a long time I had the maturity and open mindedness to be curious and dive on such texts (a confession: I actually enjoyed some chapters of the classic Techni ...more
Rohan
Feb 24, 2017 rated it it was amazing
One of the best books I have read.

"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!"

"As a rule a man adapts himself to conditions so quickly that he loses the perspective. 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
...more
ajay Kumar
May 26, 2009 rated it it was ok
Didnt found the book as gud as i thought based on the reviews....After a few pages the whole thing becomes becomes quite repetitive..Also the fact that most of the techniques mentioned are not actually in use now makes it even more boring..
Vitalijus Sostak
Feb 25, 2014 rated it it was amazing
Just read it for the ~6th time, the most re-read book in my library.

Wrote a (hopefully fun) thread about it on twitter:
https://twitter.com/vitalijus/status/...

Not a review per se, but explains quite well why I gave it 5 stars :)
...more
Terry Kim
Aug 09, 2015 rated it really liked it
Interesting book that entails part fictional journey of Jessie Livermore on what is possible as a successful Stock Operator.

Entertaining and educational. Although the time frame of the book is around 1900, lot of the obstacle revealed in the book is relevant to the current markets.
Ben
Jan 17, 2022 rated it it was ok  ·  review of another edition
Shelves: trading
Profoundly dull. I get why it’s listed as a “must read“ for market enthusiasts, but this book could likely be edited down to a third of its current length without losing any significant substance. I’m just glad to be done with it.
Rolandas
Apr 21, 2015 rated it it was amazing  ·  review of another edition
Must read for everyone investor
Ehud
Sep 04, 2015 rated it it was ok
It's nice but not a 4 points book. Don't try to operate in the markets like he did :) ...more
Subin Sukumaran
Dec 17, 2015 rated it it was amazing
This is the best book I have read so far on stock trading. Each page of this book should put in a frame and hang on your wall. A must read.
Valery Bartashevich
Jan 31, 2016 rated it it was amazing
Absolute MUST-READ and timeless classics!
(If I had to recommend one book to read on the topic of trading in financial markets,
I would recommend this one!)
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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

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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!” 13 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.” 12 likes
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