Reminiscences of a Stock Operator
A “fictionalized biography” of one of the greatest speculators who ever lived – the highly secretive Jesse Livermore. Chronographs the trading successes and blunders of Livermore, who made (and lost) several fortunes during his 40-year career as a speculator near the turn of the century. Experienced traders will be able to directly relate to the adventures of Jesse Livermore, which also serve as a reminder as to what constitute success or failure in the stock market. Written by Edwin Lefevre and first published in 1923, it remains as one of the most favorite and useful investment books ever written – highly regarded by the best speculators of today.
In the foreword, Jack Schwager writes:
“In my interviews with over thirty of the best traders of our time, there were some questions that I raised in each conversation. One of these was: Are there any books that you found particularly valuable and would recommend to aspiring traders? By far, the most frequent response was Reminiscences of a Stock Operator…”
There are numerous subtleties in the book – such that beginning traders (and numerous others who are too rigid and are forever stuck to the buy-and-hold philosophy) may not get much meaning from Jesse Livermore’s experiences or lessons at first glance, but the experienced trader will be able to obtain a seemingly infinite amount of wisdom from them. I have personally read this book more than half a dozen times from cover-to-cover and I still learn something new after each reading.
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