Reminiscences of a Stock Operator

Reminiscences of a Stock Operator


By (author) Edwin Lefevre, By (author) Jon D. Markman, Foreword by Paul Tudor Jones

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  • Publisher: John Wiley & Sons Ltd
  • Format: Hardback | 440 pages
  • Dimensions: 206mm x 254mm x 38mm | 1,080g
  • Publication date: 1 February 2010
  • Publication City/Country: Chichester
  • ISBN 10: 0470481595
  • ISBN 13: 9780470481592
  • Edition: Annotated
  • Edition statement: Annotated edition
  • Sales rank: 41,886

Product description

With new commentary and Insights on the life and times of Jesse LivermoreReminiscences of a Stock Operator is the fictionalized biography of perhaps the most famous financial speculator of all time-Jesse Livermore. This annotated edition bridges the gap between Edwin Lefevre's fictionalized account of Livermore's life and the actual, historical events, places, and people that populate the book. It also describes the variety of trading approaches Livermore used throughout his life and analyzes his psychological development as a trader and the lessons gained through hard experiences. * Analyzes legendary trader Jesse Livermore's strategies and explains how they can be used in today's markets * Provides factual details regarding the actual companies Livermore traded in and the people who helped/hindered him along the way * Explains the structure and mechanics of the Livermore-era markets, including the bucket shops and the commodity exchanges * Includes more than 100 pages of new materialReminiscences of a Stock Operator has endured over 70 years because traders and investors continue to find lessons from Livermore's experiences that they can apply to their own trading. This annotated edition will continue the trend.

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Author information

Edwin LeFevre was trained as a mining engineer, but became a journalist at age nineteen. He produced eight books, including The Making of a Stockbroker, during his fifty-three-year writing career. He was a celebrated finance author made most famous by his publication of the fictionalized story of Jesse Livermore, which first appeared in the Saturday Evening Post in 1922. Jon D. Markman is an award-winning journalist, popular market analyst, and veteran fund manager. He was a pioneer in the development of stock-rating systems and screening software; a portfolio manager at a hedge fund; managing editor at CNBC on MSN Money; and an investment columnist and investigative reporter at the Los Angeles Times. Markman provides investment guidance in his daily Strategic Advantage and Trader's Advantage research services, as well as in his weekly MSN Money column and managed accounts. He is also the author of Swing Trading, which is published by Wiley, and two other finance books.

Review quote

" big and beautiful, cutting across two centuries of booms and busts and market and economic history, with a myriad of vintage historical photos and instructive historical charts throughout." (Barron's, November 1, 2010) "This is a wonderful classic for any investor or economic historian...the style is pacey, robust and humorous." (Professional Investor, October, 2010)

Back cover copy

Praise for Reminiscences of a Stock Operator Annotated Edition"It is a textbook for trading. I hand a copy to every new trader we have." -Paul Tudor Jones, from the Foreword "The best yet! The original I read as a kid starting out and it has always been a favorite--with its unending insights. Jon Markman's marvelous new annotations add color, context, and muscular history, making this classic a really fun read you will return to repeatedly." -Ken Fisher, New York Times bestselling author, founder andCEO of Fisher Investments and 25-year Forbes "Portfolio Strategy" columnist "The exquisite pleasure to be found in Lefevre's street-smart narration has been attracting stock market fans to Reminiscences through many a bull and bear market." -Roger Lowenstein, author, When Genius Failed"Every serious investor should read and re-read the classic Reminiscences of a Stock Operator, especially if you had trouble in the 2000 or 2008 market." -William J. O'Neil, founder, Investor's Business Daily and author, How to Make Money in Stocks"An ageless gem of trading wisdom--often imitated but never surpassed." -Dr. Alexander Elder, author, Trading for a Living

Flap copy

"Reminiscences of a Stock Operator, Annotated Edition" bringsthe story of the great speculator Jesse Livermore to life likenever before. One of the foremost investment classics of all time, the original edition of Reminiscences by Edwin Lefevre hasinspired countless investors and traders with its fictionalizedaccount of Livermore's legendary trading experiences. Now, in thismeticulously researched "Annotated Edition," Jon Markmanreveals the truth about Jesse Livermore and provides colorful, historically accurate commentary on the characters, places, andevents that have made "Reminiscences" such an enjoyable andeducational read for generations. The real Jesse Livermore won and lost tens of millions ofdollars playing the stock and commodities markets during the early1900s, at one point making ten million dollars in one month oftrading--an astronomical sum at the time. His ideas and keenanalyses of market price movements are as useful today as they werewhen he was first developing them. Offering profound insights intothe motivations, attitudes, fears, and aspirations shared by everyinvestor and trader, "Reminiscences of a Stock Operator" isamong the most compelling and enduring books ever written on themarkets.This "Annotated Edition" bridges the gap betweenLefevre's fictionalized account of Livermore's life and theactual exploits, personalities, and locations that populate thebook. Side-by-side with the original text is Markman's commentaryabout the historical setting and the real companies, individuals, and news events to which Lefevre alludes. Readers will learnall about bucket shops--unsavory relics of the investmentworld that gave Livermore his first taste of trading. They'll alsolearn how fierce public debates over gold and silver roiled thepolitics and markets of the time; how presidential candidateWilliam Jennings Bryan incited a financial panic in 1896; how WorldWar I created a boom followed by a harsh recession; and howambitious tycoons built fortunes from scratch and drove rivals toruin by cornering stocks and through other now-illegalmanipulations.And they'll learn about important but forgotten figures brieflymentioned or disguised via pseudonyms in the text, such as brokerE.F. Hutton, who gave Livermore a $500 loan when the trader wasdown on his luck, as well as legendary financiers like E.H.Harriman, John Gates, James Hill, James Keene, and CorneliusVanderbilt as well as daring rogues like Daniel Drew and JayGould.Engaging and informative, the "Annotated Edition ofReminiscences of a Stock Operator" provides a rich and colorfulportrait of a volatile era in U.S. financial markets that in manyways parallels the crisis-prone twenty-first century. At the sametime, Markman extracts the timeless insights and wisdom from one ofthe world's greatest traders and shows how they can be applied tounderstand and profit in today's markets. Longtime fans of the bookwill understand "Reminiscences" in an entirely fresh way, while new readers will enjoy a much richer experience than everbefore possible.

Table of contents

Foreword by Paul Tudor Jones. Preface. Chapter I. Chapter II. Chapter III. Chapter IV. Chapter V. Chapter VI. Chapter VII. Chapter VIII. Chapter IX. Chapter X. Chapter XI. Chapter XII. Chapter XIII. Chapter XIV. Chapter XV. Chapter XVI. Chapter XVII. Chapter XVIII. Chapter XIX. Chapter XX. Chapter XXI. Chapter XXII. Chapter XXIII. Chapter XXIV. Appendix: Dow Jones Industrial Average (1985-1929). Paul Tudor Jones on Reminiscenses. Selected Quotes. Credits. About the Author.