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Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G. Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.
Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. For example:
"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."
If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. Highly recommended. --Harry C. Edwards --This text refers to an alternate Paperback edition.
"...certainly one of the most entertaining books ever written about stock trading..." (Money magazine, November 2007)
"...is a classic that gives readers a sense of a trader's mind..." (Wall Street Journal, August 7, 2006)
"…an engaging read, chock-full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." (Money Week, October 2006)
“…contains timeless advice on the markets.” (The Independent, Extra, Thu 13th March)See all Product Description
I'm amazed that this old written book is very actual for today's trading! Really Great book for success in trading!
This information never can be old. Read more
I enjoyed the book and would recommend it but I would not recommend this version of the eBook. It was not transcribed well. Read morePublished 12 months ago by Aaron Pratt
This is definitely a must read for anyone looking to become either an investor or a trader of anything in the market. Read morePublished 15 months ago by Thanigaikumaran Sivasubramaniam
Fascinating look at he early 1900s. The OCR made a number of typos.Published 16 months ago by Matthewie0pi
After all these years, this book is relevant even in todays turbulant market. This book is a classic and should be read by anyone currently in the markets or thinking about getting... Read morePublished 17 months ago by chris
This is a must read for all Wall St participants and traders. A great look back at what the stock market used to be. Read morePublished 18 months ago by Rob Mills
the book is interesting, but has thousands of scanner errors. Amazon should had paid attention on that. but i recommend it anywayPublished 23 months ago by E. A. Costa