- Hardcover: 448 pages
- Publisher: Wiley (December 21, 2009)
- Language: English
- ISBN-10: 9780470481592
- ISBN-13: 978-0470481592
- ASIN: 0470481595
- Product Dimensions: 7.9 x 1.3 x 10.1 inches
- Shipping Weight: 2.4 pounds (View shipping rates and policies)
- Average Customer Review: 76 customer reviews
- Amazon Best Sellers Rank: #329,312 in Books (See Top 100 in Books)
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Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore (Annotated Edition) Hardcover – December 21, 2009
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Reminiscences 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 material
Reminiscences 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.
Amazon Exclusive: The Inside Scoop on Reminiscences of a Stock Operator, Annotated Edition
Content from author Jon Markman
"...is 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)
"A 10 best finance book.
Does the ongoing financial turmoil leave you scratching your head? Worry not, here's our pick of the finest - and most readable - books about Big Money..."
Learn about the life and times of legendary trader Jesse Livermore [PDF].
Top customer reviews
As a long time investor and trader, the book has given me a wealth of knowledge. But this annotated version is a step above! The editor/annotator Markman has brought a whole new dimension to my experience.
If it's your first time reading Reminiscences, then I 'd suggest skipping the annotations on your first read through as they would, in my opinion, be distracting to someone new to speculation. This is what I tell folks who come to me for mentoring in trading. However, I also tell them that if the story doesn't excite them then I probably won't be able to help them.
If they enjoy the story and see the value in the knowledge, then I tell them to read the annotated version to round out their understanding of why Livermore did what he did due to the environment and times he lived.
Markman has done such an excellent job of not only capturing this, but weaving it so seamlessly into Lefevre's narrative that an experienced reader's appreciation of what is being presented is heightened. I can't imagine anyone doing a better annotation to Lefevre's classic work.
This particular edition has a lot of side information added for historical perspective. About 70% of it was useless history, like where such and such trader was born, etc. About 15% highlighted important concepts which I thought was good, and another 15% explained important historical info that would be lost on readers today (for example, what is a bucket shop?). I'd say it was worth getting this annotated version.
Reminiscences of a Stock Operator is a work of historical fiction, a roman à clef, originally published in 1923. At the time of publication, people who read about the key character, Larry Livingston, believed that to be a pseudonym for a famous securities trader of the day, Jesse Lauriston Livermore. The wisdom and knowledge of events portrayed could only come from one deeply engaged in the stock and commodity markets from late 19th to early 20th century.
You can buy several modern versions of this entertaining and educational investment classic these days. There are already hundreds of reviews of this book in its various versions posted on Amazon. I have purchased and read the top three versions over the years. Rather than tread over ground that has already been thoroughly covered by others, this review focuses on the differences among versions to hopefully assist you in deciding which one to purchase.
The main three print versions are these. Included are links to the Amazon page for each book.
- The Wiley Investment Classic Version with Foreword by Jack Schwager, author of the Market Wizards series. Reminiscences of a Stock Operator (Wiley Investment Classics)
- The MarketPlace Book with Foreword by Market Wizard William J. O'Neil, Founder of Investor's Business Daily. Reminiscences of a Stock Operator (A Marketplace Book)
- The Annotated Edition by Jon D. Markman with Foreword by Market Wizard Paul Tudor Jones, Founder of Tudor Investment Corporation. Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore (Annotated Edition)
There is also a PDF Version available online via search engines. Here are brief summaries of the differences among versions.
The Wiley Investment Classic Version. This is the original book without embellishment. There are no illustrations. There is no table of contents. This version includes a short Foreword by Jack Schwager. This is the one to buy if you want the original work but cannot afford the gilded price tag of a very rare original edition. This is also possibly the best if you like to mark up a book with highlighters and make margin notes. The other two versions discussed below are more of the coffee-table book variety with high quality paper, illustrations and higher price tags.
The MarketPlace Book. This book reproduces a series of 12 articles by Edwin LeFevre published in The Saturday Evening Post in 1922. It includes one installment, the first, that does not appear in the Reminiscences book. This version is richly illustrated with black and white cartoons in the Saturday Evening Post style, that is, humorous and wickedly ironic. In his Foreword William J. O'Neil says that of his thousands of investment books, Reminiscences is "one of the top 10 or 12" in his library. This is the one to buy if your objective is to see the markets as did the public in the years before the 1929 stock market crash.
The Annotated Edition. This is the best of the lot in my opinion. The commentary by Jon D. Markman and the Foreword by Paul Tudor Jones, one of the most successful investors operating today and perhaps in history, make this the one to buy if your objective is investment education.
The PDF Version. This is a typewritten copy of the original text of the book. You get the whole story. Personally, I find Reminiscences so valuable a reference that I want a hard copy in hand to mark up and re-read from time to time, in part or in all. You may want to read it first in PDF and then decide.
This is a five star book and a must-read for every investor. Enjoy!