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Reminiscences of a Stock Operator Hardcover – October 4, 2004
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From the Inside Flap
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 the foremost investment classics of all time. And although most modern-day investors and traders are familiar with this investment classic, many do not know that Reminiscences of a Stock Operator first appeared in the 1920s as a series of articles and illustrations in The Saturday Evening Post. Now, for the first time ever, this beloved classic is available in its original, illustrated format.
In 1922, Edwin Lefèvre began publishing his fictionalized account of Livermores exploits in a series of articles for The Saturday Evening Post, which appeared under the title "Reminiscences of a Stock Operator." Now, Reminiscences of a Stock Operator Illustrated Edition combines those memorable illustrations with Lefèvres timeless investment advice to recreate the look, feel, and message that was first published more than eighty years ago.
Jesse Livermore won and lost tens of millions of dollars playing the stock and commodities markets during the early 1900s, at one point making ten million dollars in one month of tradingan astronomical sum for this time. His ideas and keen analyses of market price movements are as true today as they were when he first implemented them. Offering profound insights into the motivations, attitudes, and feelings shared by every investor, Reminiscences of a Stock Operator is among the most compelling and enduring pieces ever written on trading in the marketsand this new illustrated edition brings this story to life like never before.
Reminiscences of a Stock Operator is a timeless tale that will enrich the livesand portfoliosof todays traders as it has done for generations in the past. This handsome coffee-table book combines for the first time in a single source, beautifully crafted reproductions of the original "Reminiscences of a Stock Operator" articles and artwork as they were initially found in The Saturday Evening Post. Take the time to study both the vintage art and proven trading wisdom of this impressive illustrated edition, and youll discover more about the markets and yourself.
In addition to The Saturday Evening Post illustrations, this new version contains commentary from renowned financial historian Charles Geisst. Geisst explains the historic context of each chapter of Reminiscences, providing insight into the financial markets and speculative culture of this bygone era. Readers will learn how bucket shops operated, the exploits of other big traders, and how Jesse Livermore figured in the controversies of the day. The result is a far richer, more enlightening reading experience.
From the Back Cover
"After 20 years and many re-reads, Reminiscences is still one of my all-time favorites."
Kenneth L. Fisher, Forbes
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Top customer reviews
The book isn't the easiest to digest though and parts do tend to drag due to datedness or loose structuring. By that, I mean there isn't much cohesion to the book.
I firmly believe anyone who invests themselves will get something out of this book. As an aside, I read the attractively priced Kindle edition - fine, but there were a number of typos and copy editing issues.
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.
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!
The book reads like an autobiography, but it is not. The book was written by Edwin LeFevre about Mr. Livermore. The book has the tone of the life of a gambler (which Wall Street may be-Warren Buffett reportedly lost a $1B in value in his IBM stock today) and if you find gambling distasteful, you may want to avoid this book.
The book intrigued me with its description of some of the denizens of Wall Street of a 100 or more years ago. There were fundamental investors, which Mr. Livermore did not regard highly. There were the charlatans and shysters who sought to profit from the get-rich-quick proclivities of other players in Wall Street. There seems to have even been some who sought to develop mathematical formulas to aid their investing (think today's algorithms). There were even fellow stock market operators who enlisted Mr. Livermore's help and then complained when he didn't leave himself open to their attempts to profit by the aid that he was providing them. I found it fascinating that 100 years had passed and much had not changed.
If you have an interest in Wall Street, mass psychology, men's baser instincts, and staying alive in a financial jungle, I recommend the book. I believe that it will reward your time.
I have re-read it several times over the years, and I never do that with any other book.
I will read this book another few times again in my lifetime.
I wish there was a physical statute or monument to JL i could visit one day.....