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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When he could not see something going up, it must therefore go down, so he dewin short, massively. Goodreads helps you keep track of books you want to read.

It is oprator difficult to make money because the market itself has punishing mechanisms that may reflect the vagaries of human nature. I was amazed at the similarities between the tactics that Livermore describes using, and the tactics that George Soros describes in The Alchemy of Finance Reading the Mind of the Market.

What’s hard to tell, however, is how a novice-trader would perceive this writing. I’m a big time Jesse Livermore fan. That is why so many men in Wall Street, who are stick at all in the sucker class, not even in the third grade, nevertheless lose money.

And I don’t think I’ve ever read a better explanation of how each of those things can impact trading decisions and price movements. He does not wish to work. A very good book and I wish I had read it in my 20s when I first started trading.

Reminiscences of a Stock Operator.

Reminiscences of a Stock Operator

I had learned a great deal about the game of stock speculation, but I had not learned quite so much about the play of human weaknesses.

Human failings never go out of style. Overnight borrowings by brokers were to percent per annum. But those factors still weigh as heavily on the markets as they did at that time. His mission to perfect his game was therefore a failure. And when you know what not to do in order to lose money, you begin to learn what to do in order to win.

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Livermore made so much money in the bucket shops by his 20th birthday that he was banned from bucket shops in Boston and Missouri. It never was my thinking that made the big money for me.

Years of practice at the game, of constant study, of always remembering, enable the trader to act on the instant when the unexpected happens as well as when the expected comes to pass. To see what your friends thought of this book, please sign up. He acts almost automatically.

It requires dtock little longer to forget that he used to be rich.

Certainly one of the greatest traders the history has ever known. I suppose the biggest plus about this book is that these principles aren’t discussed in a dry, theoretical fashion, but instead, delivered through a series of entertaining experiences recounted by the narrator. That wouldn’t impede him from going broke again later on and committing suicide. United States of America. As a teenager, he wtock to bucket shops and put down margin — a dollar a share on hundred dollar stocks – and waited there for a gain lefevrs a dollar before selling.

Your business with the tape is now – not tomorrow! He wants to get something for nothing. Here’s something I’ve written out: What i think is he really was an heavy trader who cared more for the game of stock broking principles rather than the money part. There is a challenge operwtor sorts, in deciphering the jargon of the era: As with many memoirs, the beginning is the most electric, and has the most personal interest.

Spending so much time and energy without changing anything, without creating anything. Jan 15, Reminiscencfs Lan rated it it aa amazing Shelves: I enjoyed it thoroughly and finished reading it in February while walking down the I had a slight interest in stocks and trading before I read this and then got even more interested.

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Reminiscences of a Stock Operator by Edwin Lefèvre

He began trading professionally at the age of just fifteen, and was active for over 45 years. Want to Read saving…. Just consider what you have to do to guess right. An interesting insight into the work of Jesse Livermore, one of the most prominent stock speculators of the early 20th century. It is absolutely wrong to gamble in stocks the way the average man does. Refresh and try again. But he will opetator any one of the ten poerator brothers or cousins of the original.

Reminiscences of a Stock Operator – Wikipedia

This book was written in the mids. It was the change in my own attitude that was of supreme importance to me. Perhaps most importantly, the story really shows how empty the life reminiscecnes speculation is. The game would become merely a matter of addition and subtraction. Observation, experience, memory and mathematics these are what the successful trader must depend on. The average chart reader, however, is apt to lefrvre obsessed with the notion that the dips and peaks and primary and secondary movements are all there is to stock speculation.

Remember Fed Chairman Alan Greenspan’s famous “irrational exuberance” comment? Whatever happens in the stock market today has happened before and will happen again.