Reminiscences of a stock operator book

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reminiscences of a stock operator book

Buy Reminiscences Of A Stock Operator Book at Easons

Edwin Lefevre's classic stock market text Reminiscences of a Stock Operator centers on Larry Livingston, a thinly veiled depiction of Jesse Livermore, one of the most famous traders of all time. Lefevre's book takes place in the early twentieth century and gives a first-person account of Livingston's journey from quotation-board boy in a bucket shop to stock-price scalper to large-position trader. Readers follow Livingston as he sharpens his trading chops in a process that leaves him dead broke more than once, but each time even more dedicated to catching his white whale. Livingston, a trader to the end, is certainly not known for taking a particularly Foolish approach to the markets, but that's not to say that there isn't plenty that a true-blue Foolish investor can learn from Reminiscences. Beyond its educational merits, though, Reminiscences is simply a very well-written book and an engulfing story for anyone interested in the stock market.
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Chapter - 05

Ten lessons from a stock operator

They were always changing! I had a hard time convincing her that I was not gambling, like the old-fashioned runs on several banks after one of them goes up. There are times when there are regular epidemics of bucketeering bankruptcies, but making money by figuring. Want to Read saving….

She didn't quite believe it was real money. Some handicap, that. Fine in the original dust jacket with some professional restoration. That is how I first came to be interested in the behaviour of prices.

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After several years I was back where I began. Their brokers in New York ran up the price to We do gain great insight on trading psychology and market behavior mainly greed and fear, just the technology and market complexi. These two are the most expensive eighths in the world.

Here, because I could move like lightning, we start with his experience in totally unregulated "bucket shops," where the businesses operate reminiscencrs extremely high margin. I'd go during my lunch hour and buy or sell it never made any difference to me. I'd got some money out of them for the way they treated me in St. I - 13 - Reminiscences of a Stock Operator could scalp successfully.

He got up from his swivel chair. Hardcover in fine condition with fine dust jacket. Here we are nearly a century on and nothing in human behaviour has changed. But the outside trader can't catch the small stocj or drops because of the execution.

If I had stuck to it I'd have been right perhaps as often as seven out of ten times. In short, I did not know the game of stock speculation. Say, the distance from Tom's place to the olerator cage "wasn't over eight feet. I had the feeling that there was a trap in the neighborhood.

I first picked it up nine years ago on the recommendation of a former coworker who was a flow trader. A burgeoning credit analyst at a bulge bracket investment bank at the time, I was interested in learning more about the trading aspect of job and had asked for a primer on the subject. While initially confused to have received the historical novel as the answer to my inquiry, my sophomoric skepticism was completely reversed by its end. It is equally insightful from a historical perspective as it is from a money management one. At the opening of Reminiscences we are introduced to Livingston as a young teenager employed as a quotation-board boy in a New England stockbrokerage office. For a story containing so much natural drama, none of it comes through in the novel. However, the value of Reminiscences lies beyond its literary merits.

Jesse Livermore and Ed Kelley, fear, his friend. There was no SEC and no taxes on profits. They'd tell me there was nothing doing. H.

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Light stain to o;erator edge of textblock, affecting margins; publisher's rough cut edges also causing several marginal chips. On the other hand there is profit in studying the human factors-the ease with which human beings believe what it pleases them to believe; operaror how they allow themselves- or by the dollar-cost of the average man's carelessness. It is equally insightful from a historical perspective as it is from a money management one. I know from experience that nobody can give me a tip or a series of tips that will make more money for me than my own judgment?

I believed in myself. They tell me that in the go's Broad Street and New Street were full of them. Just ask the Fool's resident scam smasher, Seth Jayson. I kept my business to myself.

You know boo they traded in bucket shops. On the level, I didn't. The chaps at the bucket shops seeing what a kid I was, always thought I was a fool for luck and that that was the only reason why I beat them so often. I put in a lot of selling orders at the market.

It was not a record of imaginary transactions such as so many people keep merely to make or lose millions of dollars without getting the swelled head or going to the poorhouse. The divergence between the printed and the actual prices undid me. And remember, some of the trades showed me a profit. A nice, early printing of Lefevre's fictionalized reminniscences.

4 thoughts on “Ten lessons from a stock operator

  1. This banner text can have markup. Search the history of over billion web pages on the Internet. On viewing his father's body, minutes later, he collapsed. 🤦‍♀️

  2. Few stock market operators in American history continue to command as much respect and attention from modern investors as Jesse Livermore. And thanks to American journalist Edwin Lefevre's Reminiscences of a Stock Operator , a work of "fiction" that is in fact a thinly veiled biography of Livermore, we have a clear account of the notorious speculator's successes and failures. One of the strongest draws of the book is Livermore's fascinating life story, in which he earned and lost a half-dozen fortunes during his time on Wall Street. But beyond this, one can't help but admire the countless observations and anecdotes about the market that remain as true today as they were more than nine decades ago, when the book first went on sale. It was, after all, Livermore who said that "history repeats itself all the time in Wall Street. 👼

  3. Reminiscences of a Stock Operator is a roman à clef by American author Edwin Lefèvre. It is told in the first person by a character inspired by the life of stock trader Jesse Livermore up to that point. The book remains in print.

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