Keep in mind that ultimately Livermore died broke. Trading stocks is a promise of wealth that's just a mirage. Smart long term investments is your best way to a wealthy future.
required reading when youre a young buck starting out on a trading desk. its a short, quick read. there's 2 key takeaways for me when comparing today's markets and those of 100+ years ago: market dynamics are essentially unchanged & human emotions - fear and greed - drive those market dynamics in the same way.
Supposedly this is a roman a clef about Jesse Livermore's career. There's a lot of stuff in this book that makes sense of markets in ways that pretty much no other investing book I've ever read does. Some what I remember are bucket shops, tape sense, marketing campaigns for new stocks, risk of ruin (Livermore went bust over and over), and what amounts to compulsive gambling.
A big difference is central bank intervention. In the most recent Market Wizards book, the biggest gains came from traders who traded CB announcements and rumors.
Keep in mind that ultimately Livermore died broke. Trading stocks is a promise of wealth that's just a mirage. Smart long term investments is your best way to a wealthy future.
required reading when youre a young buck starting out on a trading desk. its a short, quick read. there's 2 key takeaways for me when comparing today's markets and those of 100+ years ago: market dynamics are essentially unchanged & human emotions - fear and greed - drive those market dynamics in the same way.
Supposedly this is a roman a clef about Jesse Livermore's career. There's a lot of stuff in this book that makes sense of markets in ways that pretty much no other investing book I've ever read does. Some what I remember are bucket shops, tape sense, marketing campaigns for new stocks, risk of ruin (Livermore went bust over and over), and what amounts to compulsive gambling.
Honestly, nothing's changed. It's more modern; but otherwise all the same.
A big difference is central bank intervention. In the most recent Market Wizards book, the biggest gains came from traders who traded CB announcements and rumors.
The bucket shops sound like prop trading companies of today