Tuesday, May 17, 2016

The Greatest Book on Trading Ever?

Any newbie entering Wall Street is handed the classic written by Jesse Livermore (written under the pen name  Edwin Lefèvre) Reminiscences of a Stock Operator. It is a great recounting of his ups and downs as a trader. You learn a lot about trading by reading the book.

It has always been thought of by pretty much everyone as the classic on trading. It perhaps won't be for much longer. 

Financial expert Janet Tavakoli has reintroduced to Wall Street Twenty Years of Inside Life in Wall Street or Revelations of the Personal Experience of a Speculator by William Worthington Fowler.

It is a great book.

I review the book here.



  1. I gave "Reminiscences" to my wife's nephew as a gift, along with "Devil Take the Hindmost". I look forward to reading this one and I thank you for the review.

  2. Robert, this is really some great stuff. Thanks for recommending it. As you said the writing is magnificent, and some things never change:

    "One day he is lifted to dizzy heights, the next, plunged into black depths. He is hurried through dark labyrinths through paths where a single step is destruction. He climbs on the edge of a sword to a fool’s paradise, where he tastes joys brief as a dream, and in an hour is abased to the earth where he drinks the full cup of humiliation and want."

    1. I'm thinking of moving closer to Etrade's servers to cut down that latency problem. But my mental state is fine. Really...