Product Description

-Worth magazine

"The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923."
-The Seattle Times

"After twenty years and many re-reads, Reminiscences is still one of my all-time favorites."
-Kenneth L. Fisher, Forbes

"A must-read classic for all investors, whether brand-new or experienced."
-William O'Neil, founder and Chairman, Investor's Business Daily

"Whilst stock market tomes have come and gone, this remains popular and in print eighty years on."
-GQ magazine

First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life-and your portfolio.

Product Details

• Amazon Sales Rank: #985 in Books
• Published on: 2006-01-17
• Number of items: 1
• Binding: Paperback
• 288 pages

Amazon.com
Stock investing is a relatively recent phenomenon and the inventory of true classics is somewhat slim. When asked, people in the know will always list books by Benjamin Graham, Burton G. Malkiel's A Random Walk Down Wall Street, and Common Stocks and Uncommon Profits and Other Writings by Philip A. Fisher. You'll know you're getting really good advice if they also mention Reminiscences of a Stock Operator by Edwin Lefèvre.

Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century. Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. What makes this book so valuable are the observations that Lefèvre records about investing, speculating, and the nature of the market itself. For example:

"It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight! It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon."

If you've ever spent weekends and nights puzzling over whether to buy, sell, or hold a position in whatever investment--be it stock, bonds, or pork bellies, you'll be glad that you read this book. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in 1923 when the book was first published. Highly recommended. --Harry C. Edwards

Review
"...certainly one of the most entertaining books ever written about stock trading..." (Money magazine, November 2007)

"...is a classic that gives readers a sense of a trader's mind..." (Wall Street Journal, August 7, 2006)

"…an engaging read, chock-full of pearls of wisdom and amusing anecdotes...candid and analytical style evoking sympathy for the narrator." (Money Week, October 2006)

“…contains timeless advice on the markets.” (The Independent, Extra, Thu 13th March)

Download Description
What could I do? That wasn't an asinine tip. It was advice that came from the brother-in-law of the chairman of the board of directors. Dan was not only Alvin Marquand's closest friend but he had been kind and generous to me. He had shown his faith in me and confidence in my word. I couldn't do less than to thank him. And so my feelings again won over my judgment and I gave in. To subordinate my judgment to his desires was the undoing of me. Gratitude is something a decent man can't help feeling, but it is for a fellow to keep it from completely tying him up. The first thing I knew I not only had lost all my profit but I owed the firm one hundred and fifty thousand dollars besides. I felt pretty badly about it, but Dan told me not to worry.

Customer Reviews

Psychology of trading
A Wall Street Classic and it does not disappoint. Published in 1923 the book continues to be one of the most heavily references books on trading and speculation. You'll learn about the early days and the history of the markets, some basic trading strategies, and most importantly: the human psychology of ups and downs of trading and how Larry Livingston (pseudonym for Jesse Livermore) dealt with it all.

I'm not a trader, nor am I aspiring to become one, but this was a fascinating read and I'll recommend it to everyone without hesitation.

This Book Teaches The Importance of Risk Management
This is a powerful lesson on the importance of risk management. Learn from Livermore's mistakes. It is never okay to risk money you do need for the hopes of accumulating money you do not need. Always know your risk exposure at all times.

Fascinating Story About A Remarkable Stock Speculator
Edwin Lefevre tells the fascinating story of Jesse Livermore, a famous stock operator who time and again made and lost fortunes by speculating on the market. Its greatest value is on the insights and reasoning process behind each move and associated result. It provides good entertainment for stock investors and speculators. Highly recommended!