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 only way to rekiniscences it down is opperator people to sell it. It took me five years to learn to play the game intelligently enough to make big money when I was right. Whatever might seem to give a big swing, initial impulse, the fact is that its continuance is not the result of manipulation by pools or artifice by financiers, but depends upon basic conditions. Disaster may come from a convulsion of nature or from the weather, from your own greed or from some man’s vanity; from fear or from uncontrolled hope.

While the second half of the book tends to focus on general principles of stock speculation and will probably interest only a reader familiar with the trading business, the first half offers a really engaging, personal story of a brilliant man’s journey through the bucket shops of the late 19th century towards his spectacular ups and downs in Wall Street.

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. It was different world.

He understood it all. There was ticker tape for data, and boys would post the latest trades on operqtor boards at every brokerage. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side.


And when you know what not to do rekiniscences order not to lose money, you begin to learn what to do in order to win. He owned three yachts but soon had to rent a sgock — in Chicago — where he tried to start over as an unknown.

The adventures are captivating. My investment brain is simply engineered in a very different way of Jesse’s to cope with what he did in some ways thankfully, I think. I began to realize that the big money must necessarily be in the big swing. There is a challenge of sorts, in deciphering the jargon of the era: Losing money is the least of my troubles.

I cannot get out of facts what somebody tells me to get. Whenever I have lost money in the stock market I have always considered that I have learned something; that if I have lost money I have gained experience, so that the money really went for a tuition fee. I find, for instance, that memory and mathematics help me very much. Lefevre was a journalist.

This is not lefevrw 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. It was the change in my own attitude that was of supreme importance to me.

Another intersting aspect of the book is how many ways Operxtor describes to manipulate the market through buying pools, insider trading, stock swapping and other activities that are completely illegal in today’s market, but were perfectly fine and even expected in the market that Livermore lived in. You quickly figure it out. You always find lots of early bulls in bull markets and early bears in bear markets. It’s the guessing that develops a man’s brain power.


Reminiscences of a Stock Operator – Wikipedia

The parallels far exceed the divergences. That is why the numerical formations and patterns recur on a lefevrd basis. A loss never bothers me after I take it. I never argue with the tape.

Livermore made so much money in the bucket shops by his 20th birthday that he was banned from bucket shops in Boston and Missouri. Of all speculative blunders there are few greater than trying to average a losing game.

Reminiscences of a Stock Operator

Jan 16, Belhor rated it it was amazing Shelves: I should have read this book a long time ago. The fact that I remember that way is my way of capitalizing experience. Apparently, he spent a few months with one of the leading speculators of the day.

He wants to get something for nothing.

Reminiscences of a Stock Operator by Edwin Lefèvre

In real life, Livermore lost it all one last time, and shot himself, the decade after this book first came out. Apple – one of the world’s top ten stocks by market capitalisation at the time of writing – underwent such a pointless split just two months ago June and the investing public loved it like the suckers they we are.

After years at the game it becomes a habit to keep posted. Feb 24, Rohan rated it it was amazing.