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Reminiscences of a Stock Operator Illustrated

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Reminiscences of a Stock Operator is the fictionalized biography of Jesse Livermore, one of the greatest speculators ever. The timeless insights found within these pages have inspired countless generations of investors and made this book one of...


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Author: Edwin Lefevre
Year: 2004
Price: $19.77
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RATINGS BREAKDOWN
5-Star       (28)
4-Star       (4)
3-Star       (0)
2-Star       (0)
1-Star       (1)
 
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Read this book, NOW!

If you trade or invest, are curious about early 1900's trading culture, or are interested knowing how similar today's market is to how it's always been, you must read this book. Jesse Livermore was a natural trader and I feel by reading this book, you yourself will be inspired to be more disciplined. If not, there's probably not much help for you. You should read this book anyway to see the market from a historical perspective, everything from promoters, to manipulation, to bull and bear markets, not to mention bucketshops - where Livermore got his start.

Read it.

Now.

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Timeless

Despite some of the trading methods being outdated (bucketshops etc), this book is a perfect expression of the psychological roller coaster most traders are victim of.

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Great Book!

This is a great book/novel for anyone looking to start out in trading. Despite the fact that it was written many years ago, it holds valuable lesson in terms of risk management and trader psychology for any new/experienced traders.

One aspect i loved about the book is that it's written in first person and gives you a much better look into the mind of one of the greatest traders of all time.

Definitely recommended for all!

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must read for anyone new to trading

This is definitely an entertaining piece with some great lessons that every trader needs to consider. Although his life may be a bit extreme at times, the psychological lessons related to trading are vital and definitely relevant. The book reveals a side of trading which is not emphasized nearly as much as it should be these days, the deep mental dedication required to be successful. I would say this is a must read for anyone new to trading.

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21 January 2010
Eddez



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A must read!

80 + years after having been published, it shows that not much has changed in Wall Street...
The traders, tipsters, promoters, suckers, investors, speculators... they're haven't changed, they're still here.

I am still reading the book and devouring it. There is a lot to be learned in it. I recommend it to anyone interested in trading. Beginner or seasoned chap!

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21 February 2010
Jeroom



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A Classic

A must read for anyone interested in trading.

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Best read ever about trading so good i wish it was a movie

This book is unreal. It gives blow by blow information on the insight of how Jesse trading. My favorite qoute in this book is when the someone asked jesse why he makes such huge bets and he says well if a man is right he needs to reap the rewards of being right.

Pros: Insight from one of the top traders ever.

Cons: That this has not been made into a movie as of yet.


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22 January 2010
Cash



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Definitely timeless prose...

"There is nothing new in Wall Street. There can't be because speculation is as old as the hills. Whatever happens in the stock market today has happened before and will happen again." Quote Jesse Livermore...

What is instructive here is that human nature never changes, so the book still is valid today. Livermore's famous account via Lefevre is as valid now as when it was first penned.

The gamut of investing mistakes found in these pages and the settings are profoundly entertaining and insightful. Reminisces is probably one of the most quoted works by traders in the history of the literature, because the lessons hit so close to home and transcend so much.

Most only later learn he supposedly went broke, but that is another story. That may be bogus if this link is correct:

http://www.amazon.com/review/R2IECOA69SH18Y

But read this my friends:


http://www.jesse-livermore.com/trading-lessons-suckers.html

I suggest you visit the above link, some of its lessons made me think about myself and past behavior, I suspect the same will occur with you...

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22 January 2010
BigT



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Entertaining and essential

This is a must read for all traders. That's all.

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19 January 2010
Huwwaa



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Must-Read for Any Trader

This is a must-read classic for anyone seeking to operate profitably in the equity markets. Besides being filled with great trading rules, the book is entertaining as hell!

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Very Entertaining

this was one of the first books i read on the stock market. It was more like a story/movie than your typical "dry" read about the market. As for actually learning much about the market this probably wont be the book for you. But sure is a great read and puts you in the life as a trader. Highly recommended.



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Read it 12 times

If you haven't read this book, you aren't serious about trading.

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The Original

This is a book that you always hear great traders pointing to in interviews. It is very well written and entertaining. The book does a great job capturing Livermore's life a in a fictionalized tale. The trading advice is great.

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One of the Greatest True Stories of DayTrading Success

This book was one of my inspirations for becoming a daytrader and I was amazed to learn that many of the trading cliches were derived from Jessie Livermore

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delightful!

Can there really be any doubt that Reminiscences of a Stock Operator, by Edwin Lefevre, is THE "best" investment book of all time? There is sound advice to be pondered in each & every chapter of this classic. DON'T DEPEND ON "TIPS"!!!

Besides being chock-full of timeless knowledge, Reminiscences is extremely well written. It's a "page-turner." Based on the early life of one of the greatest traders ever, Jesse Livermore, this biography depicts a corrupt & rapacious Wall Street which doesn't exist anymore (??) You can still learn a whole lot from Lefevre, even though this book was originally published in 1923.

(also, you can learn to try not to marry a showgirl...)


****I also posted a very similar review in the Forum. I wanted to reach everyone possible who is here on Investimonials and encourage them to read this book!****



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04 December 2009
Plsmlll



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Must Read for all would be traders. And Online for Free.

Once I started I could not put it down.
Really enjoyed the insight into the mental process of a trader.
Helped me to look inside and ask the hard questions all traders should ask.
Here is where you can read it for free online (without the illustrations):
http://new.goldmau.com/reference.php?id=56

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Must read for those who want an understanding of trading.

Reminiscences of a Stock Operator was a great book, and worth a second read. I would recommend the book to any/everyone who has an interest in the financial markets and is looking for a better understanding of the thinking process of trading. ROASO covers the basics of trading psychology, and stock pattern/movement. Great book.

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Best trading book

This is hands down the best book on trading I have ever read. In this book you follow a fictional character, Larry Livingston, who is a speculator by trade. This fictional character actually represents Jesse Livermore, one of the greatest traders of all time.

The author of the book, Edwin Lefevre, actually had some interviews with Livermore and wrote an almost autobiographical account of Livermore's life using the character Livingston.

The stock market is much bigger today and of course electronic trading didn't exist during this time either. But the psychology of trading hasn't changed. People are still driven by greed and fear. Discipline is still a trader's best friend. These topics are expounded upon in the book through the thoughts of Larry Livingston.

Overall I recommend this book to every person looking to start trading or even those who have been trading for years.

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A classic

I read this book 10 years ago when I first started trading. It was reccomended to me by my boss who read it when he first started trading. Guess what I make mandatory reading for the traders I train? Nuff said.

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25 November 2009
Godfrey



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My favorite Book

I love this book I've read it a few times and it never gets old. It's a great read full of great lessons that never change. The quotes are dead on! Read it now!

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21 January 2010
Bmon



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A Must Have

My summary says it all - you have to read this book if you are a trader.

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24 November 2009
Jj1



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Great finance story.

If your like me and are tired of reading boring blogs on technical analysis, fundamental analysis, you'll love this one, its not so much an educational book as it is entertainment. Provides real insight into the mind of one of the greatest traders and shows that even great traders struggle with there emotions..... just shows you that you must CUT LOSSES, unless you want to end up like jesse (i wont spoil the end). I read this one not for education but just because i actually enjoyed reading it. Highly recommended.

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You must own this

If you are interested in trading at all, this is not optional reading. It is required. There are more timeless lessons in this book about market speculation than in any other book written on the subject.

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My All-Time Favorite

My all-time favorite book, not just finance related...ALL TIME...it’s quick, entertaining, meaningful, practical, inspirational and timeless…okay well, yeah because of all that. Before you ever trade another stock, read this book! If this thing doesn't inspire you to trade or invest, you're a soulless penny stock promoter who doesn't care about the game, you just want blood money and that makes you sick and depraved

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01 December 2009
Tim



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The following review is from www.amazon.com

Picture this; it's the early 1900's, the dawn of the Roaring 20's. Gatsby like characters abound

Picture this; it's the early 1900's, the dawn of the Roaring 20's. Gatsby like characters abound and are romanticized in the Saturday Evening Post, Horatio Alger rags to riches stories are all the rave. Along comes Jesse Livermore, a ballsy, throw caution to the wind and risk it all by leveraging it up to the hilt and letting it ride type of guy. It's a time when the market is on fire and behaves something like the late 90's but the regulators are nowhere to be seen. Charles Ponzi takes Boston..

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30 October 2009
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The following review is from www.amazon.com

A TIMELESS TRUTH

Reminiscences of Stock Operator is a classical works that testifies that the psychological and technical aspects that moves the market has not changed even to this present day... The beauty of the fictional story based on the greatest of minds that traded in the market and made millions and lost fortunes speaks very vividly to us today from their wisdom and experience... I have found the book to be full of wisdom, education and guidance that the financial markets is not a game to be played on...

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30 October 2009
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A must read

Gotta read this book if you want to be a trader.

A classic and a must read.

Inspiring.

Again, find it online in the public domain, use the money for starting your trading career

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Gotta read it!

I first picked this book up after Tim Sykes recommended it as one of his all-time favorite investment books. At first I didn't think I could get through it given the writing style and older language used. But after the first chapter, I was hooked. I found the story fascinating and learned a few lessons about the psychology of trading. It's interesting to see the correlation between today's trader and Jesse Livermore from the early 1900's. It's a great read.

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30 December 2009
Cosmo



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Good General Information

This book is good for those of us who are just beginning to learn the basics of the market and trading. If you are looking for a lot of technical analysis advice, then this is probably not what you're looking for.

Throughout the book, you get bits and pieces of good advice that one must remember to be successful in trading. Some of my favorites were...

1. ..."nobody can give me a tip or a series of tips that will make more money for me than my own judgment." pg. 37
2. "But fate does not always let you fix the tuition fee. She delivers the educaitonal wallop and presents her own bill, knowing you have to pay it, no matter what the amount may be." pg. 155
3. ..."the hope of making the stock market pay your bill is one of the most prolific sources of loss in Wall Street. You will chip out all you have if you adhere to your determination" pg.155-156
4. The speculator's deadly enemies are: Ignorance, greed, fear and hope" pg. 286

and my favorite..."That's all the fun there is - being right by using your head." pg 13

I also really enjoyed the part where it talks about the different types of suckers on page 64-65.

Overall, it was a good book and I would recommend it to everyone that is just starting out in this crazy game.

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19 January 2010
RossCo



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An excellent book on market psychology

This book gives you the battle tested psychological insights of one of the legends of the game even though he lived in the early 1900s. Many people underestimate the psychological side of trading and investing, but it can be more important than all your technical knowledge.

I guess I didnt give it 5 stars perhaps because if I recall correctly it doesnt have a happy ending for Jesse Livermore (though that should make traders all the more careful and thus I suppose teaches a stronger lesson than if it was a happy ending), and somehow I guess I didnt get as much out of it in my bottom line in trading as everyone else apparently has. Still, very much recommended.

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Tape Reading

This book describes how traders from the past (and traders today) read the tape. One can tell a lot about a stock based on how it reacts to particular orders and how it reacts to particular news.

The story offers valuable lessons. Sometimes it is necessary to go broke multiple times in order to learn lessons in the stock market.

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01 December 2009
Dreagan



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Timeless Stock Market Story

I was skeptical of this book at first, because most traders recommend it as a must read. Sometimes books get over-hyped and there is a never ending process of recommending it even if it's not all that great or has lost it's relevance over time. So now that I just finished this book today, I can say this is not one of them.

You will be amazed how spot on the lessons of this book are still true today even though it was originally published in 1923. Many of the experiences the subject of this book experienced all traders go through still today. You'll be walked through the career of "Larry Livingston" and his many successes and failures. Many life and trading lessons can be found in this book.

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Overrated junk.

After hearing so much about this book, I couldn't wait to start reading. Neither could I wait to join the club and herald it as a classic like everyone else. Unfortunately I cannot do this. This book is poorly writtern in a difficult prose that is tiresome to read. It is badly organised and extremely outdated since Livermore's techniques to trade with are now illegal (bucket shops, pools etc.) Moreover, the story seems to introduce an infinite amount of characters that do nothing in the grand scheme of things. To top it all off this book isn't even fact, it's fiction written by a journalist. I am sorry to say that this book did nothing for me.

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