Editorial Reviews. From the Inside Flap. Reminiscences of a Stock Operator is the fictionalized Jesse Livermore won and lost tens of millions of dollars playingthe stock and commodities markets during the early s, at onepoint making ten. Reminiscences of a Stock Operator, by Edwin Lefevre, is a classic investing Which is really a depiction of Jesse Livermore, one of the most. Reminiscences of a Stock Operator has ratings and reviews. Jesse Livermore was one of the most infamous ‘stock operators’ who ever lived.

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Dec 17, Subin Sukumaran rated it it was amazing. They were always changing. Whenever I have lost money livermoore the market I have always considered that I have learned something; that I have lost money I have gained experience, so that the money really went for a Opeerator fee.

There wasn’t any sense in my getting hot or trying to close them up. It doesn’t waste time on Jesse’s personal life and focuses only on his successes and failures in the markets until that point in time in the s. It’ was a one-man business, anyhow.

In the old days whenever a bucket shop found itself loaded with too many bulls on a certain stock it was a common practice to get some broker to wash down the price of that particular stock far enough to wipe out all the customers that were long of it.

The game of beating the market exclusively interested me from ten until three every day, and after three, the game of living my life. They did not spare anyone, women, schoolteachers and old men being their best bet. Having learned what folly I was capable of, I closed that particular incident. They figured that the more I did the more I’d lose, and the more quickly I was wiped out the more they’d make.


Things seemed to be going their way just then, opeartor that meant that Reminiscences of a Stock Operator they probably would not welsh if a trade went against them. I looked for a break, but I was playing safe making money when I bought and chipping it out Reminiscences of a Stock Operator when I sold short so that I wasn’t profiting by the boom as much as you’d think when you consider how heavily I used to trade, even as a boy.

During the great crash of OctoberLivermore made his first million dollars in the market, taking a short position that was so large that JP Morgan himself asked Livermore to stop shorting stocks for the sake of the market. Those quotations did not represent prices of stocks to me, so many dollars per share.

This book gives us some perspective for the moments we think reminiscenecs financial system is rigged and unfair with the average investor.

Full text of “Jesse Livermore Reminiscences Of A Stock Operator”

This annotated edition bridges the gapbetween Edwin Lefevre’s fictionalized account of Livermore’s lifeand the actual, historical events, places, and people that populatethe book. They’d bull a stock, on paper, and put reminiscencws customers in and then they’d execute one of the old- fashioned bucket-shop drives and wipe out hundreds of shoestring margins. He said that they had confidential connections with the biggest and smartest houses on the New York Stock Exchange and through their personal pull and by guaranteeing a business of hundreds of thousands of shares a month they got much better service than an individual customer could get.

Jesze the love of Pete, keep away!

Reminiscences of a Stock Operator by Edwin Lefèvre

Whatever happens in the stock market to-day has happened before and will happen again. I’ve never forgotten that.


They say there are two sides to ev 1- “Another lesson I learned early is that there is nothing new in Wall Street. I had a stock ticker put in and I began to trade conservatively. The Cosmopolitan, as I said, was my last resort. The game taught me the game. Their game has changed. That is to say, on my first attempt, nearly one-half of my stake went up the flue. Give us a chance to get a good start. Wall Street makes its money on a mathematical basis.

Was I fundamentally wrong in being bearish or merely temporarily wrong in having begun to sell short too soon? But reading the tape like an expert did not save me. That was what the Cosmopolitan did to get me and Henry Williams and the other Sugar shorts.

Human failings never go out liverkore style. I got up to fifty thousand dollars and two days later that went. The story is engrossing.

There was ticker tape for data, and boys would post the latest trades on giant boards at every brokerage. Of course I made friends with the other fellows, but the work I did, if the market was active, kept me too busy from ten a.

Reminiscences of a Stock Operator

Such was the life of the trading genius. There was one stock that I wasn’t short of, and that was Northern Pacific. They had branch offices in dozens of towns.