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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View all 8 comments. Nobody can time the market well enough to maximize profits, and there are some markets that are so bad that the good trader is best advised to just get out and enjoy a vacation. Most stocks never traded at all, making it even easier. In debt and wrong! View opedator 7 comments. I’m pretty well-acquainted with stocks and the market and still parts of this book lost me.

Reminiscences of a Stock Operator

Overnight borrowings by brokers were to percent per annum. There is a reason—an unknown reason but a good reason; therefore get out. And then, like the physician who keeps up with the advances of science, the wise trader never ceases to study general conditions, to keep track of developments everywhere that are likely to affect or influence the course of the various markets.

It clings very closely to the trade of a speculator, and barely touches on any personal life. Remember Fed Chairman Alan Greenspan’s famous “irrational exuberance” comment? Jesse never gets angry at the markets at least in theory when he’s speaking to his biography writer and always sees his financial losses as a toll price to pay for his trading lessons.


Of course there is always a reason for fluctuations, but what the tape does not concern itself with the why and wherefore.

The ride is dizzying. Lefevre did work as a broker on Wall Street and was the financial writer for the New York Sun newspaper. Considering that life is so short and time is so precious, the life of the speculator wouldn’t be one of my first choices. Without it, a lot of the book’s informat 4.

I really enjoyed learning how large blocks of stock o;erator traded and being reminded that large blocks of stock are best sold piecemeal rather than in a big chunk so the price point is not upset by the trade.

Even though this book was written such a long time ago, I think the basic principles discussed here are still valid – many reviews echo this sentiment. But lefevrr wrong—not taking the loss—that is what does damage to the pocketbook and to the soul. First published in”Reminiscences of a Stock Operator” is the most widely read, highly recommended investment book ever. Roger Lowenstein Foreword by.

There were only stocks on the NYSE, so it was much easier to have a handle on the day to day movements. Lefevre was a journalist. I enjoyed it thoroughly and finished reading it in February while walking down the ecwin in St Petersburg FL on a sunny, cool and blustery day.

Certainly one of the greatest traders the history has ever known.

Reminiscences of a Stock Operator – Wikipedia

Jesse Livermore was one of the most infamous ‘stock operators’ who ever lf. Add to the list of books to be reread many times over. I had to study what was going to happen; to anticipate stock movements. Want to Read saving….


Those of us who have more than a decade in the investment profession know how important such an attitude is, and how painful losses can be, even though we know there’s a component of luck in everything we do. And the explanation of those mechanics showed me, for the first time, how it might still be possible though much more sophisticated nowadays. reminiscencess

Lists with This Book. He only remembers that there were things he could not do that he can do now. It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of Stock speculation. Along the way, Livermore learns many lessons, which he happily shares with the reader. Without those two credentials, breaking into high finance is hard.

Whatever happens in the stock market today has happened before and will happen again. The desire for constant action irrespective of underlying conditions opedator responsible for many losses on Wall Street even among the professionals, who feel that they must take home some money every day, as though they were working for regular wages.

Everybody knew that the way to do that was to take profits and buy back your stocks on reactions.