Reminiscences of a Stock Operator by
Edwin
Lefèvre
Product Description:
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."
