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Summary: A must read for any investors!!!
Review: This book is probably one of be best investment book ever written. I am a senior majoring in finance at NSU and have been investing for around 4 yrs now. I've made plenty of investing mistake in my short career, but was lucky enough to learn from them and didn't get caught in this bear market (got out around nasdaq 4200). Even though this book was written over 80 years ago, what was true yester-years is still true today and futures to come. So I highly recommend anyone who's interested in investing to read this book and believe you will walk aways gaining something.
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Summary: Investment Psychology
Review: Excellent read! I've made a lot of money in the markets and then proceeded to give half of it back over the past 2 years. I'm still fighting the emotional hook that keep me in the deal too long, or entices me to buying at the wrong times. What a relief to discover that traders have been fighting the same impulses for the last century! I'm slowly moving from consciously incompetent to consciously competent. My Mentor encouraged me to read Reminiscences. I had been struggling with consistently applying the knowledge I've gained... this book has helped with that process. Investing isn't risky - Ignorance is risky! I've got the tools, the knowledge, the confidence, and now the emotional mindset to make money in the markets. Let the fun begin!
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Summary: Interesting Read Will Deter Rookie Mistakes
Review: This book chronicles the up and down life of stock market manipulator and speculator Jesse Livermore. It is chock full of interesting observations which caused me to dog-ear many a page and highlight lots of passages. Chapter 3 begins, "It takes a man a long time to learn all the lessons of all his mistakes." With the help of this book, the reader will save some of this time and avoid many pitfalls that beginning and experienced investors routinely fall into. Many of the lessons are hammered home so the reader can make no mistake of the author's intention. For example, it is written in chapter 5, "After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me It always was my sitting. Got that? My sitting tight!"..."Men who can both be right and sit tight are uncommon"..."It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance." It is this conversational tone that makes this book an uncommon gem. Reminiscences deals with the emotional biases that cause most investors to fail miserably. For example, chapter 10 has this bit of wisdom, "In speculation when the market goes against you you hope that every day will be the last day -- and you lose more than you should had you not listened to hope -- to the same ally that is so potent a success-bringer to empire builders and pioneers, big and little. And when the market goes your way you become fearful that the next day will take away your profit, and you get out -- too soon. Fear keeps you from making as much money as you ought to. The successful trader has to fight these two deep-seated instincts." In chapter 20 it is written: "As a matter of fact, it is well to remember a rule of manipulation, a rule that Keene and his able predecessors well knew. It is this: Stocks are manipulated to the highest point possible and then sold to the public on the way down." This book doesn't have any formulas to make you rich, but after reading it you might be able to recognize manipulation when it is in full bloom and avoid the painful aftermath. I could go on and on with entertaining tidbits, but I'm limited to a maximum of 1,000 words. Buy it and enjoy!
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Summary: "Reminiscences..." Lives up to it's esteemed reputation
Review: This book was a sheer joy from cover to cover! How wonderful that such sage advice, important trading facts, and esoteric information which is invaluable to trading psychology is covered in a thoroughly entertaining and engrossing novel! I would recommend this book to anyone who wants to gain insight on the amazing world of trading in any market, be it stocks or commodities. As relevant and truthful today as it was upon it's first publishing. This is a book to be read, and re-read...
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Summary: The best.
Review: In short, Reminiscences of a Stock Operator is the best book about the markets and Wall Street, barnone. An absolute classic. Written from the perspective of Livermore, a trader back in the early 1900's, this book shows you how relevant everything overall about the market back then finds its place in modern day history. It is a great story to read, and anyone in the business has read it without question. When asked what is the greatest book Wall Street has to offer, 10 out of 10 respond with this title. Whether you're an investor/trader, both factions will absolutely profit from reading this book (no pun intended).
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Summary: It'll make you a better trader.
Review: What can I say, the market is down, WAY DOWN and my portfolio is up, WAY UP since I read this book! I purchased the book on the recommendation of radio talk show host Bob Brinker; a fellow who knows more about investing than I'll ever forget.
This is a quick easy read but one that will cause you to re-read it, if you were paying attention the first time through.
If you've ever unloaded a position for a big gain somewhat wistfully because you felt that you could have gotten an even larger gain by holding on, or if you dollar cost average on the way down instead of on the way up, or if you wonder why a stock price often begins to drop a short time after a wall street firm comes out with a buy recommedation then you need to read this book.
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Summary: The Bible for Speculators
Review: Theres a lot talk going around that this book isn't about Livermore, fine, but that really doesn't matter. This book is what I'd like to think of as on of my three bibles on speculation. Reading this book, you'll learn that "speculation is as old as the hills, and that nothing is really new" to paraphrase the author. You want to be a speculator/trader/damn good investor? You want this book!
Reminiscences of a Stock Operator gives great detail of basically how the system really is. Thuogh Lefevre's speculating adventure takes place in the early part of this century, one will see immediatly mordern-day versions of the characters and situations he interacted with or witnessed. While there were no computers back then, they had their day traders, only instead of some office with terminals and a CNBC playing in the backround, you had the bucket shops were you would walk in and speculate on pieces of paper every minute or so. Indeed, reading through, things were more cut throat. A place where there were a million "Enron scams" going on every day. Even the exchanges did their best to screw you, but not Lefevre. You're not gonna learn about charts, Fibonacci numbers, Gann lines, cash flow statement assessments, you're just gonna learn how the game of trading is done. If you day trade, you'll immediatly pick up on this book and what it's saying. If you're just your average investor, then by all means, this book will tell you what they (the exchanges, floor traders, brokerages, etc) are doing and how they're doing IT to you. Like I said, you're not gonna learn fancy techincal analysis or what Benjamin Grahm's view on debentures, but just the pure game itself. Happy Profiting! -Trader JB
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Summary: a must
Review: ... I have to say that this book is a real MUST for anyone who is, or think to be, a trader. Since I read this book I started operating in a different way, more aware of risks and opportunities: this book definitely turned me from "[a person easily cheated or deceived]" to speculator. If you trade for living or you live to trade, the pages of this book must always be in your mind.
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Summary: Holmes!
Review: Woh dog, this book is the poo. I like the way it makes the room go boom. Sup fool?
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Summary: Time just flys
Review: This book is amazing. Reading about things that happened amost 100 years ago. What is truely amazing is that everything Mr. Livermore Goes through are the same things that any invester/trader will go through today. He does't tell you how to look at charts or look through the paper and pick out a winning investment. By reading his story you'll learn what he went through and what he learned. Things that you have to apply today or you'll lose all the money you invest. Truely a great read for anyone. It was cool. Big Truck
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