Reminiscences of a Stock Operator

所需积分/C币:50 2017-11-26 14:28:57 1.74MB PDF
收藏 收藏

Reminiscences of a Stock Operator by Edwin Lefevre, 75th anni. edition
感y Jesse livermore loved beautiful women. Paul Livermore, Dorothy Livermore, and Livermore was subject to deep black This caused him much grief during his Jesse Junior in front of the Livermore depressions all his adult life, during success life. He is pictured here with his third mansion. Both sons were very handsome. or failure. This photo was taken on wife Harriet during a party for eighty Jesse Jr, started having sex with his November 26, 1940, two days beforeThe people in their ten room apartment on mothers friends--without her knowledge- Great Bear" of Wall Street took his own life Park Avenue when he was fourteen -the same age he started drinking After shooting her son, Dorothy Under sheriff Jack Ross, District Attorney Jesse Livermore, Dorothy Livermore and Livermore stands in a Santa Barbara, Percy Heckendorf and Sheriff James ross friends at their vacation home in Lake California courtroom waiting to be are looking at the spot they believe Jesse Placid. Livermore hunted and played golf arraigned She is before Judge ernest Livermore Jr. was shot by his mother in here Wagner on a complaint of assault with a her home in Montecito California. he was deadly weapon with intent to kill actually shot on the staircase The Breakers Hotel in Palm Beach on Bradley s Palm Beach" Beach Club"the Jesse livermore and ed Kelley, his friend fire March 18th, 1925. Dorothy longest-running illegal gambling casino in on Livermore's yacht after a days fishing in Livermore sent the bell boys back to the America's history. Ed Bradley, the the launch. Livermore had a passion for apartment to save her 24 pieces of greatest gambler"in America, and Jesse fishing Being on the water gave him a Louis vuitton luggage from the flames- Livermore, the " greatest stock speculator" chance to think. he often came up with and the bell boys did it in America, were fast friends great market ideas" on the ocean Dorothy livermore and a friend in a This portrait of Dorothy Livermore, The beautiful ann livermore Pauls wife- white wicker Pedi-cab on the grounds of Ziegfield showgirl, was commissioned by she is a singer who appeared with the big the Breakers Hotel. This was a common her husband Jesse before she was twenty. bands, and such singers as Tony Bennett means of transportation at the The jewelry is all real. The pearls, valued and Frank Sinatra. She still sings in her Breakers"in the twenties and thirties. at $80,000, were stolen during the Boston home town--Las Vegas billy home invasion robbery of their mansion she built a brewery in the basement during prohibition and personally delivered the beer in her rolls convertible to their rich and famous friends Publicity photo of the handsome Paul Patricia and Jesse Livermore Jr.during Jesse Livermore was a handsome and Livermore, Jesse's youngest son. He their happy times on the way to Hawaii. powerful man who cherished his secrecy appeared in a number of movies and Jesse Jr. would later fall into deep and his private life. He moved in silence and various television series before moving alcoholism and physically abuse Patricia mystery and was like catnip to women to hawaii until he finally tried to kill her The original Anita Venetian with a 40-foot launch tied Jesse Livermore and his wife Harriet on November 27, 1940, at the along side. Livermore loved yachting. In all there were 3 Stork Club, Livermore's favorite night club. Looking distant, pale and Anita Venetians-the last one was 300-foot long wan, he would commit suicide the next day Copyrighted Matenal THE INVESTMENT CLASSIC One of the most highly regarded financial books ever written 」ackD. Schwager Operator EDWIN LEFEVRE REMINISCENCES OF A STOCK OPERATOR by Edwin LeFevre The Sun Dial Press Inc. Garden City, New York Copyright 1923, by George H. Doran Company REMINISCENCES OF A STOCK OPERATOR to Jesse lauriston livermore Reminiscences of a Stock Operator Chapter I I went to work when I was just out of grammar school. i got a job as quotation- board boy in a stockbrokerage office. I was quick at figures. At school I did three years of arithmetic in one. I was particularly good at mental arithmetic. As quotation-board boy I posted the numbers on the big board in the customers' room. One of the customers usually sat by the ticker and called out the prices. They couldn't come too fast for me. I have always remembered figures. No trouble at all There were plenty of other employees in that office. Of course I made friends with the other fellows, but the work I did, if the market was active, kept me too busy from ten a m to three p. m to let me do much talking. I don't care for it, anyhow, during business ours But a busy market did not keep me from thinking about the work. Those quotations did not represent prices of stocks to me, so many dollars per share. They were numbers Of course, they meant something. They were always changing. It was all I had to be interested in the changes. Why did they change? I didn't know. i didn ' t care. I didn 't think about that. I simply saw that they changed. That was all I had to think about five hours every day and two on Saturdays that they were always changing That is how I first came to be interested in the behaviour of prices. I had a very good memory for figures. I could remember in detail how the prices had acted on the previous day, just before they went up or down My fondness for mental arithmetic came in very handy I noticed that in advances as well as declines, stock prices were apt to show certain habits, so to speak. There was no end of parallel cases and these made precedents to guide me. I was only fourteen, but after I had taken hundreds of observations in my Reminiscences of a stock Operator mind I found myself testing their accuracy, comparing the behaviour of stocks to-day with other days. It was not long before I was anticipating movements in prices. My only guide, as I say, was their past performances. I carried the"dope sheets "in my mind. I looked for stock prices to run on form. I had"clocked"them. You know what I mean You can spot, for instance, where the buying is only a trifle better than the selling. A battle goes on in the stock market and the tape is your telescope. you can depend upon it seven out of ten cases Another lesson i learned early is that there is nothing new in Wall Street. There can 't be because speculation is as old as the hills Whatever happens in the stock market to-day has happened before and will happen again. I've never forgotten that. I suppose I really manage to remember when and how it happened. The fact that I remember that way is my way of capitalizing experience. I got so interested in my game and so anxious to anticipate advances and declines in al the active stocks that I got a little book. I put down my observations in it. It was not a record of imaginary transactions such as so many people keep merely to make or lose millions of dollars without getting the swelled head or going to the poorhouse. It was rather a sort of record of my hits and misses, and next to the determination of probable movements I was most interested in verifying whether I had observed accurately; in other words, whether I was right Say that after studying every fluctuation of the day in an active stock I would conclude that it was behaving as it always did before it broke eight or ten points. Well, I would jot down the stock and the price on Monday, and remembering past performances I would write down what it ought to do on tuesday and wednesday. Later I would check up with actual transcriptions from the tape That is how I first came to take an interest in the message of the tape The fluctuations were from the first associated in my mind with upward or downward movements of course there is always a reason for fluctuations, but the tape does not concern itself with the why and wherefore It doesnt go into explanations. I didnt ask the tape why when I was fourteen, and i don ' t ask it to-day, at forty The reason for what a certain stock does to-day may not be known for two or three days, or weeks, or months. But what the dickens does that matter? Your business with the tape is now not tomorrow. The reason can wait. But you must act instantly or be left. Time and again I see this happen. You'll Reminiscences of a stock Operator remember that hollow Tube went down three points the other day while the rest of the market rallied sharply. That was the fact. On the following Monday you saw that the directors passed the dividend That was the reason they knew what they were going to do, and even if they didn ' t sell the stock themselves they at least didn t buy it There was no inside buying; no reason why it should not break Well, i kept up my little memorandum book perhaps six months. Instead of leaving for home the moment I was through with my work, I'd jot down the figures I wanted and would study the changes, always looking for the repetitions and parallelisms of behaviour learning to read the tape although i was not aware of it at the time One day one of the office boys he was older than i came to me where i was eating my lunch and asked me on the quiet if I had any money y do you want to know? I sar Well, he said, "Ive got a dandy tip on Burlington. I'm going to play it if I can get somebody to go in with me How do you mean, play it? "I asked. To me the only people who played or could play tips were the customers old jiggers with oodles of dough. Why, it cost hundreds, even thousands of dollars, to get into the game. It was like owning your private carriage and having a coachman who wore a silk hat That's what I mean; play it he said "How much you got? "How much you need Well, I can trade in five shares by putting up $5 " How are you going to play it? I'm going to buy all the Burlington the bucket shop will let me carry with the money I give him for margin, " he said. " It's going up sure. It's like picking up money We'll double ours in a jiffy

试读 127P Reminiscences of a Stock Operator
立即下载 低至0.43元/次 身份认证VIP会员低至7折
历经磨难不变初心 浪费了3个C币。我早就有了。封面把我忽悠了。不过书还是不错的。
  • 签到新秀

关注 私信
Reminiscences of a Stock Operator 50积分/C币 立即下载
Reminiscences of a Stock Operator第1页
Reminiscences of a Stock Operator第2页
Reminiscences of a Stock Operator第3页
Reminiscences of a Stock Operator第4页
Reminiscences of a Stock Operator第5页
Reminiscences of a Stock Operator第6页
Reminiscences of a Stock Operator第7页
Reminiscences of a Stock Operator第8页
Reminiscences of a Stock Operator第9页
Reminiscences of a Stock Operator第10页
Reminiscences of a Stock Operator第11页
Reminiscences of a Stock Operator第12页
Reminiscences of a Stock Operator第13页
Reminiscences of a Stock Operator第14页
Reminiscences of a Stock Operator第15页
Reminiscences of a Stock Operator第16页
Reminiscences of a Stock Operator第17页
Reminiscences of a Stock Operator第18页
Reminiscences of a Stock Operator第19页
Reminiscences of a Stock Operator第20页

试读结束, 可继续阅读

50积分/C币 立即下载 >