Editorial Reviews. From the Inside Flap. Reminiscences of a Stock Operator is the fictionalized Jesse Livermore won and lost tens of millions of dollars playingthe stock and commodities markets during the early s, at onepoint making ten. Reminiscences of a Stock Operator, by Edwin Lefevre, is a classic investing Which is really a depiction of Jesse Livermore, one of the most. Reminiscences of a Stock Operator has ratings and reviews. Jesse Livermore was one of the most infamous ‘stock operators’ who ever lived.

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And, anyhow, it didn’t pay, though I only traded there twice. Return to Book Page. Their game has changed.

Reminiscences of a Stock Operator

But I was livefmore. The successful trader has to fight these two deep-seated instincts. The game of speculation isn’t all mathematics or set rules, however rigid the main laws may be. Of course, this book has a significantly different bend – with the narrative primarily being about huge sums of money won and lost through big and mostly bearish stock market trades. They never charge the extra Reminiscences of a Stock Operator commission except in unusual cases, and then only if the customer has an inactive account.

I knew I could beat them.

Jesse Livermore: 10 Investing Lessons From Reminiscences Of A Stock Operator

They deal in wheat, cotton, provisions ; anything you want. To hear someone of Jones’ stature endorse this work, even going so far as saying that he passes out a copy to every new trader he hires, that’s a pretty big deal!

Despite the book’s age, it continues to offer insights into the art of trading and speculation. You get the whole story. I sometimes think that no price is too high for a speculator to pay to learn that which will keep him from getting the swelled head.


I’ve got friends, of course, but my business has always been the same a one-man affair. The cotton showed me a loss and I kept it. I inquired about this firm. It was a sound enough theory when you consider that these people necessarily dealt with averages and the average customer was never long-lived, financially speaking.

I got quick action and I traded several times that day.

This version includes a short Foreword by Jack Schwager. Then I saw something else I liked, and I did the same thing; took three-quarters of a point net within a very short time.

Hardcoverpages. Just then Dave Wyman by the ticker, began: Although toward the end of the book he livsrmore explain that tracking market fundamentals did help him later in his career. On the next day too. My friend followed me. Your business with the tape is now – not tomorrow.

In one office Reminiscences of a Stock Operator the livefmore had been studying these inactive- stock plays of mine and when he got my order he actually bought the stock for me and then some for himself in the Little Board, and he made some money. She delivers the educational wallop and presents her own bill, knowing you have to pay it, no matter what the amount may be.

A man could bet on Bryan and buy stocks and make sure money. He owned three yachts but soon had to rent a room — in Chicago — where he tried to start over as an unknown. It cannot be checked by warnings as to its dangers. There was exactly five hundred dollars coming to me in profits, and my five hundred dollar margin.

Everybody was talking stock market. My losses have taught me that I must not begin to advance until I am sure I shall not have to retreat. I went back to my regular trading; but the market wasn’t always right for jrsse system that is, limited as I was by the size of the orders they would take, I couldn’t make a killing. Well, I made up my mind syock I couldn’t afford to have the normal rate of increase of my stake impaired by crooks’ tricks, so I decided to teach them a lesson.


It gets to be an instinct to play for position. Once he moves into more legitimate brokerage trading, the story gets quite repetitive detailing his various trading schemes, along with successes and failures. I asked the senior partner, who was in the office, ‘Why do you do that?

Human failings never go out of style. The sucker has always tried to get opertor for nothing, and the appeal in all booms is always frankly to the gambling instinct aroused by cupidity and spurred by a pervasive prosperity. Without those two credentials, breaking into high finance is hard. But reading the tape like an expert did not save me. He opened it and then he pointed to the customers in the big room. Whenever there was an unexplained sharp drop which was followed by instant recovery, the newspapers in those days used to call it a bucket-shop drive.

There are ways and ways of rebating so nobody can squeal. His life is full of tragedy and redemption.

Reminiscences of a Stock Operator Quotes by Edwin Lefèvre

A fellow told me the originator cleaned up seventy thousand dollars net, and his agents made their expenses and then pay besides. This happened so often that I stopped trying.

A man can have great mathematical ability and an unusual power of accurate observation and yet fail in speculation unless he also possesses the experience and the memory.