Although this book was written and published in the first quarter of the twentieth century, it still carries an unbounded and timeless wisdom of investing then and now. Author Edvin Lefevre in his book presents a view of financial markets from a perspective of one of the greatest traders ever - Jesse Livermore, whom he introduces as Larry Livingston. At age fourteen, Larry started working in a brokerage office as a helper, posting quotation numbers on a board. Soon, he was able to see patterns those numbers created repeatedly over time. Having clever and scientific mind he developed a trading system which allowed him to trade on his own with such a success, that bucket shops where he made his profits, started to treat him as a ?person non grata?, and avoid to give him any business. Eventually, in order to do what he knew best, which was speculating on stocks and commodities, he had to broaden his geographical horizons to do his business in other cities, where at least in the beginning he was not recognized as a ?plunger? as they called him. His professional life, mirrors what it means to be a real, successful trader (or a speculator as he call himself). To listen to your inner voice, have your own way of trading, to not follow tips from others, be disciplined, are the subtle messages hidden in the book verses. Livingston, as he advanced in his turbulent but amazingly successful carrier, had his ups and downs. But as an adept in his job, he rarely allowed his emotions to interfere with his trades. Also, most of the time he followed his own intuition. It was then, when he allowed himself to be influenced by another famous trader to go against his gut feeling and to reverse his short position on cotton, when he took one of his greatest loses. Despite the fact that the volume is considered as an ?Investment Classic?, it has been created in engaging and entertaining way, attracting readers attention from start to the end. Processing data, please wait ...
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