Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. To get the free app, enter your mobile phone number. First published in , Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever.

Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life—and your portfolio. Sponsored Products are advertisements for products sold by merchants on Amazon. When you click on a Sponsored Product ad, you will be taken to an Amazon detail page where you can learn more about the product and purchase it.

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Reminiscences of a Stock Operator by Edwin Lefèvre — Reviews, Discussion, Bookclubs, Lists

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My method for doubling my account annually Eric Blair Proof is what most books on the Stock Market lack. Kratter Ready to learn how the stock market really works? Pick up your copy today.

Ad feedback a LetUsKnowLink: When asked, people in the know will always list books by Benjamin Graham , Burton G. Malkiel's A Random Walk Down Wall Street , and Common Stocks and Uncommon Profits and Other Writings by Philip A. Reminiscences of a Stock Operator is the thinly disguised biography of Jesse Livermore, a remarkable character who first started speculating in New England bucket shops at the turn of the century.

Livermore, who was banned from these shady operations because of his winning ways, soon moved to Wall Street where he made and lost his fortune several times over. It always was my sitting. It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets.

I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level which should show the greatest profit. And their experience invariably matched mine--that is, they made no real money out of it. Men who can both be right and sit tight are uncommon. Reminiscences of a Stock Operator is full of lessons that are as relevant today as they were in when the book was first published.

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Edition , Short Read, Straight To The Point, No-Fluff. A Book That Actually Shows You How to Emulate Warren Buffet? My method for doubling my account annually.

Proof is what most books on the Stock Market lack. The Little Black Book of Stock Market Secrets. Ready to learn how the stock market really works? Wiley; Revised edition January 17, Language: Page 1 of 1 Start Over Page 1 of 1. Now Playing Customer Review: The Reminiscences Of A Stock Operator - Written Almost A Century Ago And Still As Relevant Today. The video content is inappropriate. The video content is misleading.

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Write a customer review. Halabieh on September 15, 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. They say there are two sides to everything. But there is only one side to the stock market; and it is not the bull side or the bear side, but the right side.

It took me longer to get that general principle fixed firmly in my mind than it did most of the more technical phases of the game of Stock speculation. The game would become merely a matter of addition and subtraction. It would make of us a race of bookkeepers with with plodding minds. It's the guessing that develops a man's brain power. Just consider what you have to do to guess right. And when you know what not to do in order not to lose money, you begin to learn what to do in order to win.

Did you get that? You begin to learn! It never was my thinking that made the big money for me. I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. 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. That is why so many men in Wall Street, who are not at all in the sucker class, not even in the third grade, nevertheless lose money.

The market does not beat them. They beat themselves, because though they have brains they cannot sit tight. It is the only way in which the meaning reaches me. I cannot get out of facts what somebody tells me to get.

They are my facts, don't you see? If I believe something you can be sure it is because I simply must. And after he makes them he will ask himself why he made them; and after thinking over it cold-bloodedly a long time after the pain of punishment is over he may learn how he came to make them, and when, and at what particular point of his trade; but not why.

And then he simply calls himself names and lets it go at that. Of course, if a man is both wise and lucky, he will not make the same mistake twice. But he will make any one of the ten thousand brothers or cousins of the original.

The Mistake family is so large that there is always one of them around when you want to see what you can do in the fool-play line. The speculator's chief enemies are always boring from within. It is inseparable from human nature to hope and to fear. 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. The successful trader has to fight these two deep-seated instincts.

He has to reverse what you might call his natural impulses. Instead of hoping he must fear; instead of fearing he must hope. He must fear that his loss may develop into a much bigger loss, and hope that his profit may become a big profit. It is absolutely wrong to gamble in stocks the way the average man does. A trader gets to play the game as the professional billiard player does--that is, he looks far ahead instead of considering the particular shot before him.

It gets to be an instinct to play for position. There is no need to feel anger over being human. But the inverted tip that is, the explanation that does not explain--serves merely to keep you from wisely selling short. The natural tendency when a stock breaks badly is to sell it. There is a reason--an unknown reason but a good reason; therefore get out. But it is not wise to get out when the break is the result of a raid by an operator, because the moment he stops the price must rebound.

There are people who go on hope sprees periodically and we all know the chronic hope drunkard that is held up before us as an exemplary optimist. Tip-takers are all they really are. The behaviour of a certain stock is all you need at times. Then experience shows you how to profit by variations from the usual, that is, from the probable.

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On the other hand there is profit in studying the human factors--the ease with which human beings believe what it pleases them to believe; and how they allow themselves-- or by the dollar-cost of the average man's carelessness. Fear and hope remain the same; therefore the study of the psychology of speculators is as valuable as it ever was. Weapons change, but strategy remains strategy, on the New York Stock Exchange as on the battlefield. It isn't desirable that it should. It cannot be checked by warnings as to its dangers.

You cannot prevent people from guessing wrong no matter how able or how experienced they may be. Carefully laid plans will miscarry because the unexpected and even the unexpectable will happen. Disaster may come from a convulsion of nature or from the weather, from your own greed or from some man's vanity; from fear or from uncontrolled hope.

But apart from what one might call his natural foes, a speculator in stocks has to contend with certain practices or abuses that are indefensible morally as well as commercially. It requires more time and more work to keep posted and to that extent stock speculation has become much more difficult for those who operate intelligently.

Was this review helpful to you? Yes No Report abuse. By fitzalling on October 20, Kindle Edition Verified Purchase. If you're interested in the culture behind Wall Street in the early 20th Century or if you like the story of how a boy gets introduced to what amounts to gambling and becomes addicted, this book should appeal to you. I gave it 4 stars and not 5 because much of the first half of the book became repetitive. The second half of the book, roughly chapters 13 through 24 take Larry Livermore, who was a high-profile figure on Wall Street, from one of his periodic insolvencies back to prominence.

The book ends with Mr. Livermore's thoughts on the stock market, how to manipulate individual stocks in the stock market with specific examples, and some thoughts on the psychology of stock market "plungers" or speculators.

Livermore was not what would now be called a fundamental investor think Warren Buffett ; rather, he looked for patterns in individual stock prices as these may be affected by the overall bullishness or bearishness of the market as a whole. When the patterns appeared fortuitous, he put his money where his mouth was and plunged.

Many times this worked out for him, but the book contains specific instances where it did not. Going broke seems to have been a regular occurrence; resilience was an essential quality in his life.

The book reads like an autobiography, but it is not. The book was written by Edwin LeFevre about Mr. The book intrigued me with its description of some of the denizens of Wall Street of a or more years ago.

There were fundamental investors, which Mr. Livermore did not regard highly. There were the charlatans and shysters who sought to profit from the get-rich-quick proclivities of other players in Wall Street. There seems to have even been some who sought to develop mathematical formulas to aid their investing think today's algorithms. There were even fellow stock market operators who enlisted Mr. Livermore's help and then complained when he didn't leave himself open to their attempts to profit by the aid that he was providing them.

I found it fascinating that years had passed and much had not changed. If you have an interest in Wall Street, mass psychology, men's baser instincts, and staying alive in a financial jungle, I recommend the book.

I believe that it will reward your time. Craig on February 21, I highly recommend that you read this in conjunction with the biography of Jesse Livermore.

You need to have both perspectives to understand the whole person. While there is much to learn from Livermore's investing rules, his life is more like a Shakespearean tragedy. He was obsessed with stock trading and speculation, to the point of addiction. With great personal discipline, he mastered the art of taking big risk for a gigantic reward. However, his personal life was a mess that led to his downfall and suicide.

His personal life was in many ways the exact opposite of his stock trading life: Overall a very sad story. See all verified purchase reviews newest first. See all customer images. Most Recent Customer Reviews 1. Published 8 days ago by Aliaksandr R. Published 9 days ago by Amazon Customer. Published 1 month ago by Analytical Country Boy. Published 1 month ago by Amazon Customer.

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