First published in , “Reminiscences of a Stock Operator” is the most widely read, highly recommended investment book ever. Generations of readers have. 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. The Paperback of the Reminiscences of a Stock Operator by Edwin Lefevre at Barnes & Noble. FREE Shipping on $ or more!.

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The money a man loses is nothing; he can make it up. This is not because Livermore teaches the reader how to use options to hedge a position, nor is it a how-to manual on how to corner a commodities market.

Men who can eddwin be right and sit tight are uncommon. Aug 05, John rated it liked it Shelves: This book is almost a hundred years old, but it’s timeless.

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.

Reminiscences of a Stock Operator by Edwin Lefèvre

Thanks for telling us about the problem. But apart from what one might call his natural foes, a speculator in stocks has to contend with certain practices or abuses that are indefensible morally as well as commercially.

Without those two credentials, breaking into high finance is hard. For example, insider trading edwwin rife before the Great Depression and many of the best stocks were locked up by insiders or groups. And when the market goes your way you become fearful that the next day will take away your profit, and you get out—too soon. That is why the numerical formations and patterns recur on a constant basis.

Jesse Livermore was one of the most infamous ‘stock operators’ who ever lived. When the insiders announce nothing, but are buying then you should be buying. This is a great book, expertly written, that takes you inside the mind of stock speculator Larry Livingston AKA Jesse Livermorewho made and lost fortunes in the stok market in the early s.

And there are some great speculators, like Soros and like Livermore that can just read the information available to everyone, but they are able to see the whole story or at least more of the story than the people around them.


Reminiscences of a Stock Operator

Goodreads helps you keep track of books you want to read. Perhaps most importantly, the reminisfences really shows how empty the life of speculation is. Jesse Livermore ,or Livington, an author of this amazing, compelling, easy-to-understand book has implemented tips and tricks of how to beat the market and knowing ahead of the “stock manipulators” through story-telling about his life as an independent trader.

It reads as if he’s speaking to a fellow trader.

I should have read this book a long time ago. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. He cannot bet on the unreasonable or on the unexpected, however strong his personal convictions may be about man’s unreasonableness or however certain he may feel that operaotr unexpected happens very frequently.

I’m a big time Jesse Livermore fan.

Reminiscences of a Stock Operator – Wikipedia

His mission to perfect his game was therefore a failure. Options are covered but I think they were relatively relegated to the commodities market during this time. Inhe walked into a NY hotel, sat in the coat room and killed himself. A man must believe in himself and his judgement if he expects to make a living at this game. This is only the second book that I’ve read about Stock Market speculationbut I’m pretty sure that it’ll be hard to find any better. InLivermore’s attempt to corner the post WWI cotton market caused President Wilson to invite him to the White House to try to persuade him to remove his corner for the sake of the struggling post-war economy.

In a sense, we should be thankful for it, as Wall Street of the early s was the Wild West compared to the regulation we have in place today. Spending so much time and energy without changing anything, without creating anything. Your business with the tape is now – not tomorrow! Livermore reminds us that, if you are going to engage in the markets, you should not listen to anyone.


The cotton showed me a loss and I kept it. Whenever I have lost money in 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 Tuition fee.

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. This page was last edited on 29 Augustat Apparently, he spent a few months with one of the leading speculators of the day.

After years at the game it becomes a habit to keep posted. Why bother reading the current slew of books about Wall Street cons when you can buy this classic for pennies? It does not take a reasonably young and normal man very long to lose the habit of being poor.

I really enjoyed learning how large blocks of stock are traded and being reminded that large blocks of stock are best sold piecemeal rather than in a big chunk so the price point is not upset by the trade. It never was my thinking that made the big money for me. He must not only observe accurately but remember at all times what he has observed. It seems so obvious now that tape reading is not enough, irrespective of broker execution, that I wonder why I didn’t then see both my trouble and the remedy for it.

I enjoyed it thoroughly and finished reading it in February while walking down the beach in St Petersburg FL on a sunny, cool and blustery day.

And when you know what not to do in order to lose money, you begin to learn what to do in order to win. Then experience shows you how to profit by variations from the usual, that is, from the probable.