The Amazing Life of Jesse Livermore:
World's Greatest Stock Trader
 
|
Price:
US$49/HK$382
(all inclusive)
Author: Richard Smitten
Book Type: Hardcover
Number of pages: 288
Publisher: Traders Press, Inc..
Date Published: 1999
 |
Description:
Testimonial:
Richard (Smitten, author),
I just had to let you know how much I am enjoying your
book. Right now, I am reading about Black Monday in Chapter 10, and I am totally
enthralled. I read Reminisences as well as Jesse's, 'How to Trade in Stocks quite a few
years back and considered the latter one of my favorites, but your book touches on things
that I had never gotten from either of them. All I can say is you have written one
magnificent piece of work. I have read tons of investing books and some of them merely
decorate the bookshelf but then there are the classics that I refer to time and time
again. Your book definitely falls into the latter category. I will probably refer back to
this book for the rest of my trading career.
I really envy your getting to dig all of this info from
the people who knew him. It must have been one exhilarating project for you. As far as the
details of Jesse's trading methods, did you get the information from many sources or from
a few? And did his sons have the bulk of this knowledge? Did he leave notes or a diary? I
don't mean to pry, I am just curious. It would be logical that he would have taught some
of this to his sons, but then again you never know how much dedication the offspring of a
genius would have towards his/her father's occupation.
Richard, I have one last question and you may find this an
unusual request. Do you have an electronic copy of this book, either in MS Word format or
Adobe .pdf format? I will explain.
I grew up in a small town of 3000 in south Louisiana. I
used to sing and play music, and every year I would play for this huge family reunion.
There was a gentleman there that I would see every year by the name of Menson Touchet.
Menson had a freak accident in his youth. From what I understand, he was attending his
senior class party and dove off the end of a wharf in shallow water. His neck was broken
and his spinal cord was severed. He was paralyzed from the waist down. As long as I have
known him, he has been in a wheelchair but was pretty much seen around town. I had lost
track of him for the last 20 or so years since moving away. I went to Louisiana last week
and heard from a friend that Menson now trades stocks and has been doing quite well at it.
I was curious and set a time to go meet with him. When I mentioned this to my father in
law, he said that the doctors had given up on him years ago and that he was defying all of
the odds. I didn't know what he meant by this, but I soon found out. When I got to
Menson's house, the first thing I noticed was that both of his legs were amputated. I
remember he had partial use of his right arm, but I don't think that is the case at
present. He literally moves only his head and left arm and trades stocks all day. He has
his computer screen, keyboard, and mouse all within reach on his bed. I was amazed
watching him. He has always been the type of guy that was a real inspiration. He is in his
mid 50's right now and shows no signs of slowing down.
Anyway, after questioning him, I found out most of his
ideas come from a stock service and that he is just sort of feeling his way around the
'net to learn this stuff. I showed him a lot of the things I was doing, and I feel your
book would be a huge asset to him at this point. Please let me know if this would be
possible and what the cost would be. I appreciate it.
My hat is off to you and I want to thank you for making
this information available.
J. R.
Wall Street never changes, the pockets change, the
suckers change, the stocks change, but Wall Street never changes, because human nature
never changes.
---Jesse Livermore
Jesse Livermore is considered by many of today¡¦s top Wall Street traders as the greatest trader who ever lived.
For the first time, in one book: his trading secrets, techniques and stock market methods
are revealed. Livermore broke new ground in trading the market. His timing techniques,
money management systems, and high-momentum approach to trading in stocks and commodities
was revolutionary, and remains valid today.
Livermore ran away from home in 1891 at 14 years of age,
with five dollars in his pocket, and immediately started as a board boy in the offices of
Paine Weber. He made so much money he was banned from the Bucket Shops of Boston and New
York. He made a fortune in the crash of 1907, and later lost it, only to make it and lose
it several more times.
In the panic of 1907, J.P. Morgan personally implored
Livermore to stop selling-short, stop pounding the market into oblivion. He made 3 million
dollars in one day during the panic.
He married a beautiful Ziegfield Follies showgirl. They
lived in a magnificent mansion on Long Island with 14 servants and a three hundred foot
yacht anchored off the back yard that ferried him to Wall Street every morning.
He sold the market short before the crash of 1929, and
entered the depression with 100 million in cash.
A mysterious and secret trader he worked out of a palatial
penthouse, a highly secure office-fortress on Fifth Avenue. Where he traded in absolute
secrecy. Once the market was open no one in the office was allowed to speak until the
market closed.
In 1935, Dorothy, his beautiful wife, shot their son,
Jesse Livermore Jr., in a heated, drunken argument in Santa Barbara. It was one of the
great scandals of the era.
Jesse Livermore ended his own life with a self-inflicted
bullet to the brain, ending one of the most dynamic careers in Wall Street history. A
complex genius who¡¦s life ambition was to win on
Wall Street, and he did.
Reviews:
As one of the most shrewd traders of all time, Jesse
Livermore demonstrated how important discipline is when trading the market. Richard
Smitten's book,The Amazing Life of Jesse Livermore: World's Greatest Stock Trader, covers
how Livermore created his rules.
Successful trading is about finding the rules that work
and then sticking to those rules. Smitten's book not only covers the strategies that
Livermore used in trading the stock market, but also reveals the lessons he learned along
the way to develop those strategies.
William J. O'neil¡VPublisher Investor's
Business Daily
After reading Richard Smitten's magnificent biography,
two Japanese proverbs came to mind, Fortune favors the bold and Darkness Lies One Inch
Ahead. Smitten shows how fortune and darkness were integral parts of Livermore's life.
His book has the intrigue of a mystery novel and the
lessons of a trading master. What more can one ask for? I eagerly recommend this book to
anyone interested in history, the markets and trading psychology.
Steve Nison, Author of Japanese Candlestick Charting Techniques
Great writing. The book is terrific. I started reading it
when we took off from Seoul's Kimpo Airport on my way to Germany. By the time we reached
Novosibirsk, Russia (five and a half hours later) I had finished it. I just couldn't put
it down! Not only is it a great lesson in investing and trading but a fascinating
psychological study of what makes a great speculator tick. The rise and fall of a great
speculator as well as the rise and fall of his family is great reading. The fact that it
is based on interviews with the Livermore's survivors and witnesses to the events make it
even more interesting.
Mark Mobius¡VManaging Director¡VTempleton Asset Management
Excellent read! Captures the spirit and times of Jesse
Livermore, legendary trader. The book tracks two major market crashes, love affairs, the
shooting of Jesse Jr. by his mother, and two family suicides...never a dull moment.
Ace Greenberg-Chairman Bear Stearns
It is a terrific story well told. I picked it up last
night and couldn¡¦t put it down until I finished it
early this a.m. The life and times of Jesse Livermore, the world¡¦s greatest trader, is an emotional roller coaster. To witness this
complex this complex man who is so obviously intelligent, logical, disciplined and driven,
repeatedly succeed and fail in the market and marriage is an exciting yet inexpensive way
to learn some valuable lesson. If you have any interest in Wall Street, investing, the
roaring twenties or the rich and famous of that era, you¡¦ll love this book. Certainly today¡¦s Momentum Investor will find it worthwhile and perhaps even
reassuring.
Richard Egan-Chairman and Founder-EMC Corporation
This book is a stock market classic! Most entertaining and
informative book on the market that I have had the privilege to read in the last 20 years.
A must-read for students of the stock market¡Vgreat
even for those who have no knowledge of the market. Grabs you from the start, and holds
the reader enthralled from cover to cover. Great book-destined to be a best seller!
Dan Sullivan¡VThe Chartist--fund
manager/investment advisor
My best comment in reading this book, is a resounding YES!
First, Dick Smitten has pulled together an incredible text on the life and times of Jesse
Livermore, and shed some light on how such a successful speculator could become so
depressed as to end his own life - something I have always wondered about. But more
importantly, this is the first book to really explain the psychology of winning in the
markets, as seen and lived through Jesse Livermore. In my own trading, and my writing on
SignalWatch.COM, I try to live and trade by the many jewels of trading wisdom so
eloquently explained by Jesse and observers around him. I'm tempted to start quoting them
here, but you'll just have to read the book. It's an absolutely MUST READ for anyone who
is serious about conquering the markets and - themselves.
Ed Downs-CEO Nirvana Systems-author of SignalWatch.com
This book is the standard against which all other books on
the stock market will be measured. A riveting American tragedy with more emotional turns
than a chart on the Dow, and plenty of detailed substance for the market technician
interested in uncovering the methodology of the World¡¦s Greatest Stock Trader..
Dennis Kranyak¡Vmember Society of Market
Technicians
Worth its weight in gold! It is amazing how simple Smitten
makes it all seem. Through his research, he has been able to sift through Livermore's
complex (and up to now secret) trading techniques. He then has been able to decipher them
for all of us to easily understand and allow us to try and trade like Jesse Livermore, if
we want to. We also get a best-seller novelroller coaster ride as we journey through
Livermore¡¦s incredible life and times. A great feat
of writing--articulating a very complex set of formulas and a very complex man¡Vand its fun!
D. Gordon Badger- First Foundation Capital Canada-Founder
This is a fascinating account of the rise and fall of the
greatest stock trader ever. He knew all of the famous people of his day and saw them all
frequently but always remained a man of intriguing mystery. He would not discuss his
trades nor the secrets of his success with his friends. Never give or take market tips, he
warns in Richard Smitten¡¦s book. When he broke his
own rules he paid heavily. My father E.F. Hutton liked him, backed him and even lent him
money twice to get started again after he went broke. Livermore always paid it back and he
always regained his trading wealth by going back to his disciplined lone-wolf trading
methods. By the time he reached his sixties he had won and lost so monumentally and so
often that the thrill of the market¡¦s roller coaster
ride no longer intrigued him. That was the final blow from which he could not recover.
When the excitement of beating the market was gone as was his magic touch and his will to
live. That¡¦s the sad but poignant lesson in this
compelling book.
Dina Merrill Hartley
...A must book for every investor,
J. Michael Pinson, Senior Analyst
¡@ |
