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Reminiscences of a Stock Operator: Annotated Edition
Book annotation not available for this Reminiscences of a Stock Lefevre, Edwin/ Markman, Jon John Wiley & Sons IncPublication 2009/12/21Number of 423Binding HARDCOVERLibrary of 2009042600
Kindle Edition
Published February 8, 2020
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About the author
Edwin Lefèvre
46 books80 followersEdwin 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 career as a journalist and eventually became a stockbroker, as well.
During the 1909–1913 presidency of William Howard Taft, Lefèvre served as ambassador to a number of countries including Italy, Spain, and France. Lefevre did work as a broker on Wall Street and was the financial writer for the New York Sun newspaper. He later returned to his home in Vermont where he resumed his literary work, providing short stories for magazines such as The Saturday Evening Post and writing novels.
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 career as a journalist and eventually became a stockbroker, as well.
During the 1909–1913 presidency of William Howard Taft, Lefèvre served as ambassador to a number of countries including Italy, Spain, and France. Lefevre did work as a broker on Wall Street and was the financial writer for the New York Sun newspaper. He later returned to his home in Vermont where he resumed his literary work, providing short stories for magazines such as The Saturday Evening Post and writing novels.
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Displaying 1 - 25 of 25 reviews
July 15, 2021
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 me that Reminiscences of a Stock Operator was a historical fiction loosely based on the life of the famous American trader Jesse Livermore. I had never heard of Jesse Livermore; so I did what people do when they do not know about something or someone. I checked the Wikipedia page. It read: At one time, he was one of the richest people in the world; however, at the time of his suicide, he had liabilities greater than his assets. It was then I knew I was going to read this book. If you are reading this, Kumar Ayush, thank you for this recommendation.
An unexhaustive list of insights from this textbook of speculation disguising as a historical novel based on the life of Jesse Livermore (pioneer of day trading):
1. There never is anything new on Wall Street, because speculation is as old as the hills.
2. There is only one side to the stock market; and it is not the bull side or the bear side, but the right side. Therefore, in a bull market trade with the bulls, and in a bear market trade with the bears.
3. Never argue with the tape. (I guess it means price action?!) Tape is your telescope.
4. You do not know until you bet. The game teaches you the game.
5. Human nature condemns virtually everyone to being a sucker.
6. Never trade to get even or in an effort to buy something in particular.
7. Being adaptable is more important than being smart or rich.
8. Believe in yourself and your judgement, don't believe on tips.
9. If the unusual never happen then there would be no difference in people, and there would not be any fun in life.
10. Guessing develops a man's brain power.
11. No man can consistently beat the stock market.
12. 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. No diagnosis, no prognosis. No prognosis, no profit.
14. They say you never grow poor talking profits. No you don't. But neither do you grow rich taking a four-point profit in a bull market. The big money is not in the individual fluctuations, but in the main movements.
15. It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! Men who are both right and sit tight are uncommon.
16. It is sin to change your mind on a position after receiving well-meaning, persuasive but erroneous guidance from a colleague or a friend.
17. Remember that stocks are never too high for you to begin buying or two low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit.
18. Those who confine themselves too closely to statistics are poor guides. There is nothing so fallacious as facts, except figures.
19. After a man makes money in stock market he very quickly loses the habit of not spending. But after he loses his money it takes him a long time to lose the habit of spending.
20. The business of the trader in commodities is simply to get facts about the demand and the supply, present and prospective. He does not indulge in guesses about a dozen things as he does in stock market.
21. The man who is right has two forces working in his favour — basic conditions and the men who are wrong.
22. It's inseparable from human nature to hope and to fear. When market goes against us we hope that every day would be our last day. And when market goes our way we fear that the next day will take away all our profits. A successful trader has to reverse these natural impulses. Instead of hoping he must fear; instead of fearing he must hope.
23. If I am walking along a railroad track and I see a train coming toward me at sixty miles an hour, do I keep on walking on the ties? Friend, I side-step. And I do not even pat myself on the back for being so wise and prudent.
24. The only thing to do when a man is wrong is to be right by ceasing to be wrong.
25. I am firmly convinced that the public's losses would be greatly reduced if no anonymous statements of a bullish nature were allowed to be printed. I mean statements calculated to make the public buy or hold stocks.
26. There is no asphalt boulevard to success in Wall Street or anywhere else. Why additionally block traffic?
Also, this was the first book I read that had interesting footnotes. In fact, it was hard to be able to read this book without the footnotes. There were some things which went completely over my mind, I guess it will be a tough read for the uninitiated, so I wouldn't recommending to those who are about to sail in the markets for the first time.
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 me that Reminiscences of a Stock Operator was a historical fiction loosely based on the life of the famous American trader Jesse Livermore. I had never heard of Jesse Livermore; so I did what people do when they do not know about something or someone. I checked the Wikipedia page. It read: At one time, he was one of the richest people in the world; however, at the time of his suicide, he had liabilities greater than his assets. It was then I knew I was going to read this book. If you are reading this, Kumar Ayush, thank you for this recommendation.
"Are you a good shot?"
"Well," said the duellist, "I can snap the stem of a wineglass at twenty paces," and he looked modest.
"That's all very well," said the unimpressed second. "But can you snap the stem of the wineglass while the wineglass is pointing a loaded pistol straight at your heart?"
An unexhaustive list of insights from this textbook of speculation disguising as a historical novel based on the life of Jesse Livermore (pioneer of day trading):
1. There never is anything new on Wall Street, because speculation is as old as the hills.
2. There is only one side to the stock market; and it is not the bull side or the bear side, but the right side. Therefore, in a bull market trade with the bulls, and in a bear market trade with the bears.
3. Never argue with the tape. (I guess it means price action?!) Tape is your telescope.
4. You do not know until you bet. The game teaches you the game.
5. Human nature condemns virtually everyone to being a sucker.
6. Never trade to get even or in an effort to buy something in particular.
7. Being adaptable is more important than being smart or rich.
8. Believe in yourself and your judgement, don't believe on tips.
9. If the unusual never happen then there would be no difference in people, and there would not be any fun in life.
10. Guessing develops a man's brain power.
11. No man can consistently beat the stock market.
12. 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. No diagnosis, no prognosis. No prognosis, no profit.
14. They say you never grow poor talking profits. No you don't. But neither do you grow rich taking a four-point profit in a bull market. The big money is not in the individual fluctuations, but in the main movements.
15. It never was my thinking that made the big money for me. It was always my sitting. Got that? My sitting tight! Men who are both right and sit tight are uncommon.
16. It is sin to change your mind on a position after receiving well-meaning, persuasive but erroneous guidance from a colleague or a friend.
17. Remember that stocks are never too high for you to begin buying or two low to begin selling. But after the initial transaction, don't make a second unless the first shows you a profit.
18. Those who confine themselves too closely to statistics are poor guides. There is nothing so fallacious as facts, except figures.
19. After a man makes money in stock market he very quickly loses the habit of not spending. But after he loses his money it takes him a long time to lose the habit of spending.
20. The business of the trader in commodities is simply to get facts about the demand and the supply, present and prospective. He does not indulge in guesses about a dozen things as he does in stock market.
21. The man who is right has two forces working in his favour — basic conditions and the men who are wrong.
22. It's inseparable from human nature to hope and to fear. When market goes against us we hope that every day would be our last day. And when market goes our way we fear that the next day will take away all our profits. A successful trader has to reverse these natural impulses. Instead of hoping he must fear; instead of fearing he must hope.
23. If I am walking along a railroad track and I see a train coming toward me at sixty miles an hour, do I keep on walking on the ties? Friend, I side-step. And I do not even pat myself on the back for being so wise and prudent.
24. The only thing to do when a man is wrong is to be right by ceasing to be wrong.
25. I am firmly convinced that the public's losses would be greatly reduced if no anonymous statements of a bullish nature were allowed to be printed. I mean statements calculated to make the public buy or hold stocks.
26. There is no asphalt boulevard to success in Wall Street or anywhere else. Why additionally block traffic?
Also, this was the first book I read that had interesting footnotes. In fact, it was hard to be able to read this book without the footnotes. There were some things which went completely over my mind, I guess it will be a tough read for the uninitiated, so I wouldn't recommending to those who are about to sail in the markets for the first time.
March 8, 2025
Livro muito interessante para os que já são dados ao assunto. Ao contrário do que pensei, não é uma biografia fidedigna do Jesse Livermore com todas as suas peripécias (fazer fortunas apostando contra o mercado nas crises de 1907 e 1929, falir diversas vezes mesmo depois de ganhar centenas de milhões de dólares etc), mas inclui uma parte significativa desses episódios. É um documento histórico interessante da época do mercado financeiro pré-digital, com as ticker tapes e todas as rotinas envolvidas, bem como do capitalismo ascendente dos anos 1910 e 20. As análises de psicologia do mercado e de seus agentes também escapam ao clichê e quase chegam a ter um valor literário por si. E pelo visto foram copiadas ad infinitum em todos os livros posteriores sobre o assunto.
March 17, 2018
Reminiscences of a Stock Operator is the only book I've read on trading in the markets that actually seems to be written by someone who knows what the experience is like. Although the account is a bit fictionalized, it is written from the first person perspective of "Larry Livingston." Livingston is actually Jesse Livermore, a real life speculator who lived through the early 1900s.
Livingston starts out studying pricing patterns and making money in bucket shops as a boy trader. He was very effective at reading prices or the "tape." Even when he first started, he took a dispassionate attitude towards the market:
"Of course there is always a reason for fluctuations, but the tape does not concern itself with the why and wherefore. It doesn’t go into explanations. I didn’t ask the tape why when I was fourteen, and I don’t ask it to-day, at forty. The reason for what a certain stock does to-day may not be known for two or three days, or weeks, or months. But what the dickens does that matter? Your business with the tape is now—not to-morrow."
As Livingston acquired a pool of wealth, he decided to take his money to the big leagues in New York. He found there that his tricks in bucket shops no longer worked, and he lost his entire savings attempting to trade. This forced him to go back and work up some money from bucket shops to speculate with on the exchange. Throughout the book, it's impressive the way that Livingston loses such astronomical portions of his wealth and manages to come back and rebuild it through his trading prowess.
The book also does a great job of illustrating how Livingston learns throughout his experiences. He begins to use a somewhat scientific approach, using prices to test whether his thoughts were true or false:
"Even in my tape reading something enters that is more than mere arithmetic. There is what I call the behavior of a stock, actions that enable you to judge whether or not it is going to proceed in accordance with the precedents that your observation has noted. If a stock doesn’t act right don’t touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit."
Using this approach, Livingston appears to favor what we now call momentum-based trading, since most of the time he is acting on whether a trend will continue. This stands in contrast with those that like to average lower in buying and average higher in selling to be contrarian:
"It is naturally the semisucker who is always quoting the famous trading aphorisms and the various rules of the game. He knows all the don’ts that ever fell from the oracular lips of the old stagers—excepting the principal one, which is: Don’t be a sucker! This semisucker is the type that thinks he has cut his wisdom teeth because he loves to buy on declines. He waits for them. He measures his bargains by the number of points it has sold off from the top. In big bull markets the plain unadulterated sucker, utterly ignorant of rules and precedents, buys blindly because he hopes blindly. He makes most of the money—until one of the healthy reactions takes it away from him at one fell swoop. But the Careful Mike sucker does what I did when I thought I was playing the game intelligently—according to the intelligence of others. I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements—that is, not in reading the tape but in sizing up the entire market and its trend."
Livingston believes most of the money is made in the large trends. He notes that the conditions of what are happening and will continue to happen are far more important than what is happening day to day. That's why you have to "sit tight and be right."
"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: 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. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."
Of course, the challenge is actually following these rules. It is functionally difficult to do so. Ultimately, I thought that this was a great read with many pockets of wisdom that are still valuable today. I've heard that Paul Tudor Jones makes his portfolio managers read this book every year. I can see why.
Livingston starts out studying pricing patterns and making money in bucket shops as a boy trader. He was very effective at reading prices or the "tape." Even when he first started, he took a dispassionate attitude towards the market:
"Of course there is always a reason for fluctuations, but the tape does not concern itself with the why and wherefore. It doesn’t go into explanations. I didn’t ask the tape why when I was fourteen, and I don’t ask it to-day, at forty. The reason for what a certain stock does to-day may not be known for two or three days, or weeks, or months. But what the dickens does that matter? Your business with the tape is now—not to-morrow."
As Livingston acquired a pool of wealth, he decided to take his money to the big leagues in New York. He found there that his tricks in bucket shops no longer worked, and he lost his entire savings attempting to trade. This forced him to go back and work up some money from bucket shops to speculate with on the exchange. Throughout the book, it's impressive the way that Livingston loses such astronomical portions of his wealth and manages to come back and rebuild it through his trading prowess.
The book also does a great job of illustrating how Livingston learns throughout his experiences. He begins to use a somewhat scientific approach, using prices to test whether his thoughts were true or false:
"Even in my tape reading something enters that is more than mere arithmetic. There is what I call the behavior of a stock, actions that enable you to judge whether or not it is going to proceed in accordance with the precedents that your observation has noted. If a stock doesn’t act right don’t touch it; because, being unable to tell precisely what is wrong, you cannot tell which way it is going. No diagnosis, no prognosis. No prognosis, no profit."
Using this approach, Livingston appears to favor what we now call momentum-based trading, since most of the time he is acting on whether a trend will continue. This stands in contrast with those that like to average lower in buying and average higher in selling to be contrarian:
"It is naturally the semisucker who is always quoting the famous trading aphorisms and the various rules of the game. He knows all the don’ts that ever fell from the oracular lips of the old stagers—excepting the principal one, which is: Don’t be a sucker! This semisucker is the type that thinks he has cut his wisdom teeth because he loves to buy on declines. He waits for them. He measures his bargains by the number of points it has sold off from the top. In big bull markets the plain unadulterated sucker, utterly ignorant of rules and precedents, buys blindly because he hopes blindly. He makes most of the money—until one of the healthy reactions takes it away from him at one fell swoop. But the Careful Mike sucker does what I did when I thought I was playing the game intelligently—according to the intelligence of others. I think it was a long step forward in my trading education when I realized at last that when old Mr. Partridge kept on telling the other customers, “Well, you know this is a bull market!” he really meant to tell them that the big money was not in the individual fluctuations but in the main movements—that is, not in reading the tape but in sizing up the entire market and its trend."
Livingston believes most of the money is made in the large trends. He notes that the conditions of what are happening and will continue to happen are far more important than what is happening day to day. That's why you have to "sit tight and be right."
"After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: 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. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance."
Of course, the challenge is actually following these rules. It is functionally difficult to do so. Ultimately, I thought that this was a great read with many pockets of wisdom that are still valuable today. I've heard that Paul Tudor Jones makes his portfolio managers read this book every year. I can see why.
August 12, 2014
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 that he was calling these 'old tricks' and referring to behaviour in the 1800s. This book was written in the mid-1920s. Here we are nearly a century on and nothing in human behaviour has changed. The same tricks that he asserts should be legislated against are still used today - stock splits, for example, are still something Wall Street uses to con investors. Apple - one of the world's top ten stocks by market capitalisation at the time of writing - underwent such a pointless split just two months ago (June 2014) and the investing public loved it like the suckers they (we) are.
Why bother reading the current slew of books about Wall Street cons when you can buy this classic for pennies? Or is that another Walls Street con?
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 that he was calling these 'old tricks' and referring to behaviour in the 1800s. This book was written in the mid-1920s. Here we are nearly a century on and nothing in human behaviour has changed. The same tricks that he asserts should be legislated against are still used today - stock splits, for example, are still something Wall Street uses to con investors. Apple - one of the world's top ten stocks by market capitalisation at the time of writing - underwent such a pointless split just two months ago (June 2014) and the investing public loved it like the suckers they (we) are.
Why bother reading the current slew of books about Wall Street cons when you can buy this classic for pennies? Or is that another Walls Street con?
April 14, 2020
The reviews here have pretty well covered the core content but I'd emphasize that the Edwin Lafevre edition has a bunch of side bars and additional information relevant to both the personal story of Livermore and the economic/social conditions that set the scene for the story.
January 14, 2016
I listened to audio version. Did not enjoy the narrator but good lessons to be learned.
June 23, 2020
Edward Lefevre’s quasi-biographical classic, Reminiscences of a Stock Operator, tells the story of Jesse Livermore and his rollercoaster ride of a career playing the stock market. The story begins with Livermore, showing a knack for the subtle art of trading at a young age, quickly amassing a fortune.
Along the way, readers are treated to a bevy of anecdotal insights, many of which (particularly when it comes to predicting trends) surprisingly still apply to the modern-day markets. While many of Lefevre’s macro-financial musings still ring true, it’s the book's indirect, conversational tone that ultimately ensures that readers will absorb far more than just Livermore's narrative.
Originally published in 1923, Lefevre’s novel has been released numerous times throughout the years and is widely regarded as a ‘must-read’ for anyone looking to take a stroll down Wall Street, but the key selling point to this particular edition of is the annotation provided by James McGill, which offers readers updated numbers (accounting for inflation in 2020 dollars), chapter summaries, charts, and even a section for the novel’s ‘top quotes’.
A Certifiable Classic Updated for 2020, this version of Edward Lefevre’s "Reminiscences of a Stock Operator" is highly recommended.
Along the way, readers are treated to a bevy of anecdotal insights, many of which (particularly when it comes to predicting trends) surprisingly still apply to the modern-day markets. While many of Lefevre’s macro-financial musings still ring true, it’s the book's indirect, conversational tone that ultimately ensures that readers will absorb far more than just Livermore's narrative.
Originally published in 1923, Lefevre’s novel has been released numerous times throughout the years and is widely regarded as a ‘must-read’ for anyone looking to take a stroll down Wall Street, but the key selling point to this particular edition of is the annotation provided by James McGill, which offers readers updated numbers (accounting for inflation in 2020 dollars), chapter summaries, charts, and even a section for the novel’s ‘top quotes’.
A Certifiable Classic Updated for 2020, this version of Edward Lefevre’s "Reminiscences of a Stock Operator" is highly recommended.
September 15, 2012
If you're ever going to invest any of your money in equities or on anyone's behalf you MUST read this book.
This is a kind of pseudo biography of one of the greatest stock speculators the world has seen - Jesse Livermore.
This book is loaded with anecdotes, tips and history lessons from the late 19th to early 20th century US.
Make sure you read the boss hardcover version with the foreword by Paul Tudor Jones, released in 2011 I think. Not only is the layout magnificent but it provides helpful side panels on almost every page describing the historical information the author is writing about that many contemporary readers may not be familiar with.
There's also a bonus interview with Paul Tudor Jones (legend in his own right) at the back.
I try to re-read a bit here and there like every couple of months and I always smile at the insights that this book provides regarding investing.
This is a kind of pseudo biography of one of the greatest stock speculators the world has seen - Jesse Livermore.
This book is loaded with anecdotes, tips and history lessons from the late 19th to early 20th century US.
Make sure you read the boss hardcover version with the foreword by Paul Tudor Jones, released in 2011 I think. Not only is the layout magnificent but it provides helpful side panels on almost every page describing the historical information the author is writing about that many contemporary readers may not be familiar with.
There's also a bonus interview with Paul Tudor Jones (legend in his own right) at the back.
I try to re-read a bit here and there like every couple of months and I always smile at the insights that this book provides regarding investing.
June 2, 2020
Unique economic centered reading material!
For those interested in the inner workings of the stock market and its history—this title would most likely create an instance novel to reader match. Reminiscences of a Stock Operator neatly followed the life and economic story of a stock trader who generated his success during the early 1900th century. The witty, quick-paced writing style does replicate the rapid nature of the stock market and its transactions.
The number of misspellings, grammatical errors, and poorly structured sentences were great detractors in the overall reading experience. If one chooses to look past those editorial issues. The historical factoids and industry jargon are quite informative and well portrayed via trials and triumphs of the 1900th-century stock operators’ careers. One can gain much knowledge about economics and that aspect can easily outweigh the editorial errors throughout this book.
For those interested in the inner workings of the stock market and its history—this title would most likely create an instance novel to reader match. Reminiscences of a Stock Operator neatly followed the life and economic story of a stock trader who generated his success during the early 1900th century. The witty, quick-paced writing style does replicate the rapid nature of the stock market and its transactions.
The number of misspellings, grammatical errors, and poorly structured sentences were great detractors in the overall reading experience. If one chooses to look past those editorial issues. The historical factoids and industry jargon are quite informative and well portrayed via trials and triumphs of the 1900th-century stock operators’ careers. One can gain much knowledge about economics and that aspect can easily outweigh the editorial errors throughout this book.
September 9, 2016
This was one of the most interesting reads ever. I picked up this book because I heard that it was supposedly one of the classics of investment, speculation and stock trading. What the book also provided me with was a lot of historical and economic background of the times of Jesse Livermore.
I would recommend reading the annotated version of the book with the comments by Jon D. Markman, because it gives you a lot more background information, especially about many of the big names in Wall Street and the US economy at the time overall.
I'd recommand this book to anyone who is interested in Wall Street, stock trading, speculation or simply the US economics of the early 20th century.
I would recommend reading the annotated version of the book with the comments by Jon D. Markman, because it gives you a lot more background information, especially about many of the big names in Wall Street and the US economy at the time overall.
I'd recommand this book to anyone who is interested in Wall Street, stock trading, speculation or simply the US economics of the early 20th century.
May 23, 2021
A great read on the mechanics of past day stock trading, but even more on the mindset and psychology of a trader.
In the days of crypto market trading, the old tales are much more applicable in the current day than one would hope. Insights on manipulations and the strategies of parties involved is laid out in a cool ‘old times vibe’, but the mechanics behind it are still at work today.
A book which all new age ‘investors’ should read, in order to open their eyes to the fact that speculation is fundamentally a different game from investing. A game in which the simple retail stock buyer is unlikely to emerge a winner.
In the days of crypto market trading, the old tales are much more applicable in the current day than one would hope. Insights on manipulations and the strategies of parties involved is laid out in a cool ‘old times vibe’, but the mechanics behind it are still at work today.
A book which all new age ‘investors’ should read, in order to open their eyes to the fact that speculation is fundamentally a different game from investing. A game in which the simple retail stock buyer is unlikely to emerge a winner.
June 4, 2020
Stock investor and self-made millionaire Edwin Lefevre teaches others how to play the stocks and earn your millions. But this book takes a fresh perspective. Rather than go through the standard teaching methods, Lefevre uses his own experiences to convey the lessons he learned the hard way. Anyone who wants to invest in the stock market and come out on top will benefit from this well-written and easy-to-understand book. The annotated version provides charts, 2020 insider tips, and other bonus tips.
March 18, 2025
I decided to read this on a recommendation and had low expectations but I came out pleasantly surprised. It’s obviously stories of a stock market incredibly different from today’s but there are still plenty of lessons to learn that still apply. I found it to be an enjoyable and easy read, maybe dry in some parts but overall pretty fun. If you’re someone interested in finance and investing this is definitely a worthwhile read.
August 4, 2011
Absolute classic. It CAN get a little long winded in the stories - and the 'sidebar' stories and background information/history though awesome and informative are very distracting in the 'kindle' version.
Overall just a fantastic story very interesting. It reminds a person of a poker player discussing their big wins and bad beats.
Overall just a fantastic story very interesting. It reminds a person of a poker player discussing their big wins and bad beats.
September 27, 2017
Before the creation of the SEC speculators in stocks could make or lose millions in a day. This thinly veiled fictional account of a stock trader was really the life of Jesse Livermore.
I read Jesse Livermore - Boy Plunger at the same time. These two books complimented each other well. Whatever wasn't revealed in this book, Boy Plunger filled in the gaps.
I read Jesse Livermore - Boy Plunger at the same time. These two books complimented each other well. Whatever wasn't revealed in this book, Boy Plunger filled in the gaps.
February 11, 2018
Without a doubt a timeless book. By the way, this is the version of the book you want to read as it gives detailed insight into the characters as well as the phrases of the late 1800s/early 1900s. You come to realize that speculation will be timeless, and each bubble/panic, the public tends to say the same things about said bubble irrespective of technological advancement, etc.
February 4, 2010
I know it is strange but this is one of my favorite books. It is a very easy read. It was written in the early 1900's but I think that is what fascinates me, is how much things are still the same. Emotions don't seem to change
November 22, 2010
Surprised to see the language of stock market speculation essentially the same today as it was 100 years ago, and also to see how timeless the behavior of the market is, except for legal changes. Classic.
November 7, 2012
History repeats itself and this book is just great at showing how human nature doesn't change.
August 9, 2018
Wspaniała, ponadczasowa opowieść o arcyciekawym świecie spekulantów przełomu XIX i XX wieku. Obowiązkowa pozycja dla każdego zainteresowanego rynkami finansowymi.
May 17, 2020
Must
Real easy to read and understand, even for us newbies trying to start on the new york stock exchange to make a living and better life on this crazy pandemic!
Real easy to read and understand, even for us newbies trying to start on the new york stock exchange to make a living and better life on this crazy pandemic!
June 3, 2020
Through a series of adventures in the EL's life we learn many axioms and psychological truths about why trading entices us and is so difficult to master
June 29, 2020
Magnificent!
July 3, 2021
A must read for anyone interested on the topic
May 16, 2022
History never repeats itself!!!
Great read and thought I was reading a Mark Twain book. Teaches a learner to be wary and DYOR always.
Great read and thought I was reading a Mark Twain book. Teaches a learner to be wary and DYOR always.
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