First published in , “Reminiscences of a Stock Operator” is the most widely read, highly recommended investment book ever. Generations of readers have. And thanks to American journalist Edwin Lefevre’s Reminiscences of a Stock Operator, a work of “fiction” that is in fact a thinly veiled biography. The Paperback of the Reminiscences of a Stock Operator by Edwin Lefevre at Barnes & Noble. FREE Shipping on $ or more!.

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I actually enjoyed some chapters of the classic Techni Yeah, I know.

Reminiscences of a Stock Operator – Wikipedia

Much more to the game of speculation than to play for fluctuations for a few points. The money a man loses is nothing; he can make it up. The game would become merely a matter of addition and subtraction.

Mar 04, Manan rated it it was amazing. Rather, it is a very abstract book of advice on how to be a disciplined trader.

Reminiscences of a Stock Operator

A trader gets to play the game as the professional billiard player does—that is, he looks far ahead instead of considering the particular shot before him. The book talks of his experiences from his first trade on Burlington and his profit of 3.

I can see now that my main trouble was my failure to grasp the fundamental difference between stock gambling and stock speculation. The markets at the time weren’t for the faint hearted, especially if you used to trade with the kind of aggressiveness that Mr. More than anything else, I think this book captures the mindset of a trader, and that lefevr why it is still so admired.

Reading, you very rarely feel that the book was written years ago it could have been 1 year ago. What’s hard to tell, however, is how opeeator novice-trader would perceive this writing. It seems incredible that knowing the game as well as I did and with an experience of twelve or fourteen years of speculating in stocks and commodities I did precisely the wrong thing.


It isn’t desirable that it should. Livermore describes many of the tactics that he would use to drive prices, either up or down, and most importantly, how he would use the tape to understand prices. Overnight borrowings by brokers were to percent per annum. 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.

This is a great book, expertly written, that takes you inside the mind of stock speculator Larry Livingston AKA Jesse Livermorewho made and lost fortunes in the stock market in the early s.

Larry was wiped out clean several times which taught him his lessons and have been narrated in detail in the book. Even though this book was written such a long time ago, I think pf basic principles discussed here are still valid – many reviews echo this sentiment.

Whatever happens in the stock market today has happened before and will happen again. Hardcoverpages.

Lperator is not because Livermore teaches the reader how to use options to hedge a position, nor is it a how-to manual on how to corner a remihiscences market. Fear, greed, hope and pride are the same today as they were in the early s and these core fundamental human emotions can account for the rise and fall of every Wall Street trader, from the tiny retail players to large hedge fund and private equity fund managers.

It reads as if he’s speaking to a fellow trader. But one of the central points of the book is that fear, greed, hope and ignorance will drive the marke This book is a marvel.


Always sell what shows you a loss and keep what shows you a profit. The wheat showed me a profit and I sold it out. This difference between the professional and the amateur or occasional trader cannot be overemphasised. There can’t be because speculation is as old as the hills.

He really meant to tell them that the big money was not in individual fluctuations but in the main movements – that is not in reading the tape but in sizing up the entire market and its trend. He does not wish to work. What’s remarkable is tha Numerous newsletters and authors have urged me to read this book.

Reminiscences of a Stock Operator by Edwin Lefèvre

Apple – one of the world’s top ten stocks by market capitalisation at the operaotr of writing – underwent such a pointless split just two months ago June and the investing public loved it like the suckers they we are. The same tricks that he asserts should be legislated against are still used today – stock splits, for example, are still something Wall Street uses to con investors.

You quickly figure it out. If there were too many bets on a stock, the shop could influence the tape by actually buying or selling the underlying stock for its own account. Over and over, with slight variations.