Reminiscences Of A Stock Operator Download Free (EPUB, PDF)
"Although Reminiscences...was first published some seventy years ago, its take on crowd psychology and market timing is a s timely as last summer's frenzy on the foreign exchange markets." —Worth magazine "The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923." —The Seattle Times "After twenty years and many re-reads, Reminiscences is still one of my all-time favorites." —Kenneth L. Fisher, Forbes "A must-read classic for all investors, whether brand-new or experienced." —William O'Neil, founder and Chairman, Investor's Business Daily "Whilst stock market tomes have come and gone, this remains popular and in print eighty years on." —GQ magazine First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life—and your portfolio.
Paperback: 288 pages
Publisher: Wiley; Revised edition (January 17, 2006)
Language: English
ISBN-10: 0471770884
ISBN-13: 978-0471770886
Product Dimensions: 5.5 x 0.8 x 8.5 inches
Shipping Weight: 0.3 ounces (View shipping rates and policies)
Average Customer Review: 4.5 out of 5 stars See all reviews (527 customer reviews)
Best Sellers Rank: #4,269 in Books (See Top 100 in Books) #7 in Books > Business & Money > Investing > Stocks #25 in Books > Business & Money > Finance #34 in Books > Education & Teaching > Higher & Continuing Education > Test Preparation > Advanced Placement
Literary critics are often asked, "If you were stranded on a tropical island and you only had one book to read for the rest of your life which book would you choose?" Well, if you posed that same question to the world's professional traders the response "Reminiscences of a Stock Operator by Edwin LeFevre" would be the most frequent response, and by a large margin.Despite being written in the early 1920's, Reminiscences of a Stock Operator continues to be the most useful and most-loved book ever written on the subject of trading and speculation. In this novel, LeFevre brilliantly describes the life and times of the book's protagonist, Larry Livingston, a pseudonym for Jesse Livermore, one of history's most famous traders.Livingston never considered himself an investor; he was a speculator. He didn't mind being long or short, he just wanted to be correct. His approach was to figure out what the path of least resistance was and then go with the flow. He didn't believe in picking tops or bottoms; he waited for a trend to be confirmed and then jumped in, thus never fighting the tape. Livingston never traded out of boredom or solely for the sake of the excitement it brought to him. He knew that he could get rich by following a defined trend and thus calmly waited on the sidelines when the market was directionless. Had Livingston been alive today he would certainly be a momentum/price action based trader.Although a sizeable portion of the book vividly describes the highs and lows of Livingston's exciting life, the meat of the book comes in the form of trading commandments that every successful trader can likely repeat even while asleep. These are the trading rules that have been passed down from mothers to daughters, fathers to sons, mentors to students, winners to losers.
Like Muhammed Ali, this book is undisputedly the greatest. A true & timeless classic that will endure for as long as people speculate, "Reminiscences" is to trading what Sophia Loren was to curves or Raquel Welch was to breasts...and then some. It really does require genuine market experience and multiple re-readings to gain the full benefit of the invaluable insights from this incredible book. Livermore was almost certainly the greatest natural talent in the entire history of trading - if he played basketball, he would probably make Michael Jordan look like a clueless 5'6" sophomore klutz. But unlike sport, trading requires discipline as well as talent, and Livermore was chronically deficient in the former. That he blew out multi-million dollar fortunes (back in the days when a million dollars meant something) repeatedly, and then came back with a few thousand and managed to run it up to millions again within a couple of years, not just once but several times, just goes to show what a unique trader he truly was.So is this book going to help your trading, or is it just a fascinating look at a trading legend? Well, lots of professional traders have cited this as the most influential book on trading they ever read (see the laudatory comments in "Market Wizards"), and I can only second that opinion. There is really great discussion of trading techniques, such as the usefullness of adding to a position as the market confirms your original idea, how to trade in big size, how to read the tape to determine the market's underlying strength or weakness, etc. There are also great psychological insights - it is obvious that Livermore was a very introspective and perceptive man, at least in respect to his ability to trade.
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