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Product Details
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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 out of print or unavailable edition of this title.
"...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)
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Most helpful customer reviews
6 of 6 people found the following review helpful
5.0 out of 5 stars
This is my "bible" of investing,
By Tony Ursillo (Norwood, MA USA) - See all my reviews
This review is from: Reminiscences of a Stock Operator (Paperback)
I have a library of nearly 100 books about the markets. Reminiscences was the third book I ever read and it remains my "bible" more than a decade later. You might wonder how an 80-year old book about the stock market could still be relevant. Well, that is because financial markets are determined by human nature as much as anything else, and human nature acts today as it did a century ago. Greed, fear, herd thinking, impatience - those are the same influences that drive markets today and haunt traders and investors who are striving to make the right decisions. Many of the lessons that dictate my investment philosophy ("Cut your losses, let your winners run", "if you don't like the odds, don't bet") were taught to me by the protagonist, who is the fictional characterization of the legendary Jesse Livermore. That he tells his stories with such color and suspense makes the book completely entertaining beyond its invaluable trading lessons. BUY THIS BOOK FOR YOURSELF. BUY ANOTHER ONE FOR A FRIEND (I've given 4 copies). You'll not only improve your own investing results, but your gift will impress as well.
4 of 4 people found the following review helpful
5.0 out of 5 stars
Still the Best,
By
This review is from: Reminiscences of a Stock Operator (Paperback)
This is a classic book on trading and market speculation, and is still the best introduction to the subject. The author was one of the most successful traders of all time, gaining and losing massive fortunes multiple times in his life. The experience that is passed on in the book is priceless and accelerates one's development as a trader immensely.
11 of 16 people found the following review helpful
1.0 out of 5 stars
This Dog Has Fleas....,
By A Customer
This review is from: Reminiscences of a Stock Operator (Paperback)
I bought this book a couple of years ago, because of a reference in John Train's 'The Money Masters'. In fact....the book contained the exact quote used in Harry Edwards review above. Nice quote, but thats it.The book is amusing enough, and I found the discussion about 'bucket shops' and various investment practices in the largely unregulated early 20th century interesting. But, of course, you are never told how the hell to know whether to 'sit tight' or sell. There is really nothing specific or useful to anyone trying to make money in any market - legally, at least. Perhaps a little market history - the fact that markets rise and fall, will be useful to some people. A much better, and more amusing view of investment excesses can be found in the John Rothchild's highly entertaining 'A Fool and His Money'. Note that this book preceeded, and has absolutely no connection with the popular 'Motley Fools' Addendum - Dec 21, 2002. Original August 2, 1998. I am amazed at all the positive reviews -- and I am down at the bottom of the review section, so I doubt many people will plow down to see this. And, is everyone clear that: 1. This is a fiction - not a biography. I guess that I find the incredibly positive reviews to be an interesting fact. Hope the reviewer's are on the other side of my trades. Rent the DVDs "Boiler Room" or "Wall Street"
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