Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore
    Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore
    Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore
    Audiobook9 hours

    Reminiscences of a Stock Operator: With New Commentary and Insights on the Life and Times of Jesse Livermore

    Written by Edwin Lefevre

    Narrated by Rick Rohan

    4/5

    ()

    Switch to ebook

    About this audiobook

    First published in 1923, this fictional biography of Jesse Livermore, one of the greatest market speculators ever, is widely regarded as one of best investment books of all time. Reminiscences of a Stock Operator is the resource that generations of investors have turned to when they needed deeper insight into their own investing habits and those of others. Listen to this work, featuring narrator Rick Rohan, and you'll soon discover your portfolio growing in new and unexpected ways!
    LanguageEnglish
    PublisherRecorded Books, Inc.
    Release dateJan 29, 2007
    ISBN9781440780899

    More audiobooks from Edwin Lefevre

    Related to Reminiscences of a Stock Operator

    Titles in the series (2)

    View More
    View More

    Related audiobooks

    Investments & Securities For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      How Options Can Help Your Portfolio

      Jun 3, 2020

      For some people, options trading conjures either fantasies of instant riches or nightmares of losing everything. But those are the visions of market-timing speculators, not long-term investors. For most investors with a long-term view, trading option

      7 min read

    • Article

      Covered Calls: One Way to Earn Extra Income on Your Stocks Without Additional Risk

      May 2, 2018

      "Boy, I would definitely sell Apple if it reached $170 again," a client said to me recently. Like many people, she believed entering a limit order at that price was the logical next step. As we explained, however, writing a covered call option might

      3 min read

    • Article

      Back To Basics

      Oct 18, 2019

      with markets looking precarious and portfolios under pressure, it’s always a good idea to head back to the basics. That’s why I want to revisit my list of preferred books for investors and traders. A good book can reaffirm what we’re trying to do in

      2 min read

    • Article

      Breathing New Life into Old Books

      Mar 20, 2020

      We sat down to chat with D.W. Young, the director of The Booksellers, a new documentary about the world of antiquarian bookselling. The post Breathing New Life into Old Books appeared first on The Millions.

      7 min read

    • Article

      A Good Fit

      Dec 3, 2020

      A Good Fit
      3 min read

    • Article

      What It Takes To Be A Winner

      Nov 2, 2022

      What It Takes To Be A Winner
      4 min read

    • Article

      Plot Twist

      Apr 8, 2022

      BEING ASKED TO WRITE FOR A MAGAZINE I ADMIRE about how I got to where I am must surely mean I’m somewhere. But where, exactly? The owner of a lovely, independent bookshop in Johannesburg. Does that make me an entrepreneur, a director, a risk-taker, s

      2 min read

    • Article

      Five Writing Tips from Mark Bowden

      Apr 8, 2019

      The question most in my mind when writing is: What exactly are you trying to say? A clear answer to that question will help you avoid confusion and cliché. The post Five Writing Tips from Mark Bowden appeared first on The Millions.

      5 min read

    • Article

      Tom Wolfe, 1931–2018

      May 15, 2018

      Tom Wolfe, 1931–2018
      6 min read

    • Article

      The Mistakes Not To Make

      Apr 6, 2023

      With more than 4 million sales in her DCI Tom Douglas series, Rachel Abbott is one of the world’s most successful self-published writers. Here, so you can learn from her experience, she outlines what she got wrong when she started her self-publishing

      6 min read

    • Article

      Letters

      Apr 12, 2024

      As is often with our aged hobby, a telephone call informed me that Edwin T. Hoffmark, Jr., (1935-2024) had passed away. His son called me saying that his father died peacefully while sleeping. Numismatic News readers would not know who “Ed,” or “The

      4 min read

    • Article

      Precision Press Releases

      Feb 6, 2020

      Precision Press Releases
      6 min read

    • Article

      Funny You Should Ask

      Feb 15, 2021

      What is going to be the next big trend in fiction? Signed, Pencil Poised I am so glad you asked. I have been absolutely dying to tell someone. The next big trend is going to be … Amish steampunk crossover YA told in second person. Right? I know! How

      3 min read

    • Article

      Ask A Literary Consultant

      Apr 2, 2020

      Ask A Literary Consultant
      2 min read

    • Article

      Letters

      Apr 16, 2021

      Hello, my name is Warren Rabeck, I live in Torrington, Conn. I purchased four clad proof sets from the U.S. Mint on March 5. Upon inspection of all the sets, I found that one of the dollar coins displays a definite doubling on the eighth star on the

      3 min read

    • Article

      What Is A Numismatist?

      Oct 18, 2021

      What Is A Numismatist?
      4 min read

    • Article

      Amber Diamond

      Aug 10, 2022

      Amber Diamond
      5 min read

    • Article

      Buying Low Grade Notes

      Sep 7, 2021

      Buying Low Grade Notes
      2 min read

    • Article

      Market Breaker

      Jan 11, 2017

      Buy this extraordinary book! —Maxim Edward O. Thorp’s life story reads like fiction (or fantasy)—from his time in Las Vegas, where he perfected how to beat the casino, to his tenure leading a financial institution, where he helped develop many of th

      6 min read

    • Article

      Concentrate ON YOUR CRAFT

      Jul 6, 2023

      Concentrate ON YOUR CRAFT
      3 min read

    Related categories

    Reviews for Reminiscences of a Stock Operator

    4/5

    270 ratings7 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

    • 5/5
      Classic. This is meant to be listened to over and over again.

      1 person found this helpful

    • 5/5
      My third read. Simply the best stock market book ever written.
    • 4/5
      Very informative enjoyed hearing about Livermore’s story to riches very inspiring. It shows how he was gifted to trade Stocks.
    • 5/5
      Amazing content and like it for its simplicity. Recommend to be heard again and again
    • 5/5
      Reminiscences of a Stock Operator is a rollercoaster ride on pre SEC stock markets. It’s the wild west of finance by someone who understood every nuance of it. The book was written in the first person by Edwin Lefevre, but he refers to the hero throughout as Larry Livingston, and it is widely recognized to be the autobiography of Jesse Livermore, to whom the book is dedicated. It was first published in 1923 and republished every decade since. Human failings never go out of style. Especially when they’re larger than life, and well-written.It is a refreshing tour of the markets at the turn of the last century. There were only 275 stocks on the NYSE, so it was much easier to have a handle on the day to day movements. Most stocks never traded at all, making it even easier. All the stocks could be displayed on one big board. If the market traded a quarter of a million shares, it was a huge day. There was ticker tape for data, and boys would post the latest trades on giant boards at every brokerage. There was no SEC and no taxes on profits. There was very little real news, and therefore plenty of rumors and tips. News was routinely withheld until insiders finished trading. A move of ten points in a day was a big deal. Overnight borrowings by brokers were 100 to 150 percent per annum. It was different world.Livingston was what we would call a day trader. As a teenager, he went to bucket shops and put down margin – a dollar a share on hundred dollar stocks - and waited there for a gain of a dollar before selling. The bucket shop never actually executed the trade. It took the money and when the contract closed, it either kept the cash or paid out winnings. If there were too many bets on a stock, the shop could influence the tape by actually buying or selling the underlying stock for its own account. The fix was in, and bucket shops appeared all over the country.As a 14 year old, Livingston was the kid posting the numbers. It was the only paying job he ever had. He remembered all the numbers every day, he said, and could predict patterns, which was his system. But it only worked well at bucket shops, where he could get an instant fill at the desk, because the order was never actually sent to the exchange floor to be executed. When he tried it at a real New York brokerage, he lost. Livingston’s life quest was to learn from his mistakes and find the undefeatable system. It wasn’t about the money, he said, but about the self-discipline – the game. “I am so accustomed to losing money that I never think first of that phase of my mistakes. It always the play itself: the reason why.” He looked at losses as tuition fees, he said.Incredibly, he made millions and lost them again almost immediately. He was a multimillionaire in his early twenties, in 1907. But soon had to declare personal bankruptcy on over a million dollars. He owned three yachts but soon had to rent a room – in Chicago – where he tried to start over as an unknown.He did not practice diversification. When the tape told him something, he was all in, fully margined. So when he hit, it was gigantic. When he missed, he got wiped out. When he could not see something going up, it must therefore go down, so he sold short, massively. Once, when someone cornered a commodity, he broke it by shorting a related commodity, causing the whole edifice to crumble and allowing him to get out, at his own price. He understood it all.The ride is dizzying. The story is engrossing. The adventures are captivating. It moves effortlessly. There is a challenge of sorts, in deciphering the jargon of the era: “reaction” is a retracement or reversal, for example. A “break” is a sharp fall in price. You quickly figure it out. Overall, it is a total delight, an education, and a warning. The writing is often terrific. Here’s a description of the manager of a New Haven bucket shop: “He’d say good morning as though he had discovered the morning’s goodness after ten years of searching for it with a microscope and was making you a present of the discovery, as well as the sky, the sun, and the firm’s bankroll.” Of interest might be that nearly all the famous names in the book are unknown today. The traders, the brokerages, the CEOs and directors, and even their companies sound made up to a 2018 ear. Perhaps this should not be surprising, when you realize none of the original companies in the Dow Jones Industrials are still there. The huge successes, the huge corporations – pretty much all have faded away. Above it all sits the market, Livingston’s muse. His message was that while disciplined investors can pick stocks and win, no one can beat the market. His mission to perfect his game was therefore a failure. In real life, Livermore lost it all one last time, and shot himself, the decade after this book first came out.David Wineberg
    • 4/5
      The jacket blurb on this book is: "One of the most highly regarded financial books ever written." Based on what, I'm not precisely sure. Certainly the anecdotes related in this book (which was originally published in the early 1920s) have little or no relevance to stock investing as it is carried on today, or indeed, even as it has been carried on since the creation of the Securities & Exchange Commission a decade after the book came out. While financial manipulation will always be with us, the bucket shops and market pools described in the book today are outright illegal. There would be no wisdom to be gained today; this is strictly a book for those yearning for a long-distant past, when individuals could go onto the Street and make (and lose, several) fortunes with nimble wits and a lot of gall. The book is dedicated to noted stock manipulator and great bear Jesse Livermore, and is generally regarded as a very thinly disguised biography of him. Certainly, a classic in financial biography, I would say.
    • 4/5
      Nice book but not as helpful as I would have hoped for in the way of investment or trading help.